Top 100 Chemical Manufacturing Companies Ranking 2026

All Values are in USD Million

Ranking	Company	Sales/Revenue 2025	%Change (from 2024)	EBIT/operating income 2025	%Change (from 2024)	Net Income 2025	%Change	Total Assets 2025	%Change (from 2024)	Capex 2025	%Change (from 2024)	R&D 2025	%Change (from 2024)
1	BASF¹	69799	-2.90%	1,912	-9.70%	1,894	24.70%	89,124	-5.30%	4,712	-32.80%	2,334	1.30%
2	Sinopec¹	64975	-11.4%	2,041	45.80%			301,786	3.40%
3	Dow¹	39968	-7%	-2,511		-2,444		58,538	2.10%	2,479	-15.70%	752	-7.20%
4	LG chem¹	31693	-5.70%	-1,228		-674				631	-9.10%	159	-3.80%
5	SABIC¹	31032	-1.00%	1843	-0.29%	-407
6	LyondellBasell¹	30153	-9.70%
7	Henkel¹	23979	-5.10%	3,295	-0.50%	2,408	1.30%	38,064	-7.70%	856	-63.10%	737	-0.60%
8	Sherwin-Williams¹	23574	2.10%	3,338	-3.30%	2,569	-4.20%	25,902	9.60%	-797.6
9	INEOS¹	16729	-11.60%	119	-90.80%			29,110	0.40%	2,458.40	20.10%	57.80	10.50%
10	Sumitomo Chemicals²	16680	6.50%	372		273		22,014	-12.60%	843	-16.90%	929	-21.10%
11	Evonik¹	16461	-7.20%	676	0.00	310	19.4%	21,038		351		-537.03
12	Toray²	16405	4%	816	121%			21,073	-5%
13	Shin-Etsu Chemical²	16392	6.10%	4,749	5.90%	3,418	2.70%	36,074	9.50%	2,781	6.80%	468	11.20%
14	Mitsubishi Chemical²	16391	4%	-80				18,184	0.20%	1,182	27.40%
15	Ecolab¹	16081	2.20%	2,738	-2.30%	2,076	-1.70%	24,696	10.30%	1,048	5.40%	202.00	-2.40%
16	PPG¹	15875	0.20%			1,576	41.20%	22,098	13.70%	778	7.90%	423	0%
17	Johnson Matthey²	15690	-9.10%	723	116.10%	501	254.40%	8,325	-2.20%			259	-5.40%
18	PTT Global Chemical¹	15456	-19.90%	-475		-147		4,287	-13.40%
19	Covestro¹	15142	–8.7%	-406		-753		15,756	-1.20%			-400
20	Sasol⁴	14996	-9.50%					21,645	-1.50%
21	Indorama Ventures¹	14178	-17.40%	204	-205%			5,283	-9.50%
22	Sika¹	14114	-4.80%	1881	-12.90%	1317	-16.20%
23	AGC¹	13177	-0.40%	816	1.30%			18,880	2.10%	1,608	-2.40%	386	-2.40%
24	Braskem¹	12800	-8.60%	-327				14,820	-19.40%			-83
25	Lotte Chemical¹	12753	-9.50%	-1,870		-1,708		21,471	-9.90%
26	Chevron Phillips Chemical¹	12470	3%			593	-65.60%	21,471	3.90%
27	AkzoNobel¹	11885	-5%	1,362	27%	786	13.50%	16,324	-2.10%	362	1%
28	Mitsui Chemicals²	11579	3.40%	646	4.90%	206	-35.50%	13,785	-2.80%	929	-21.80%	293	2.40%
29	Nippon Paint¹	11355	8.30%	1,604	39.10%	1,160	42.40%	25,714	30.90%	403	-16.90%
30	Bayer¹	11157	-7.10%
31	IFF¹	10890	-5.20%	-382		-359		25,539	-11.10%			694	3.40%
32	Arkema¹	10610	-5%	337	-50.90%	73	-82.60%	16,667	-6.30%			-332
33	Celanese¹	9544	-7.10%	-786		-1,151		21,695	-5%			-125
34	Givaudan¹	9415	0.80%	1,644	-0.60%	1,349	-1.70%
35	Asahi Kasei²	9154	13.40%	584	114.0%
36	IRPC¹	8884	-11.20%	-59				2127	17.70%
37	Borealis¹	8882	-3.30%	58	-85.40%	501	24.40%	13,044	-12.20%	1	24.80%	-29
38	Eastman Chemical¹	8752	-6.70%	776	-39.30%	475	-47.70%	14,859	-2.30%	546	-8.80%	255	2%
39	Lonza¹	8229	19.20%	1,561	36.50%	-347		22,563	-9.30%	-1,730
40	Orbia Advance¹	7619	1.50%	370	-15.70%	457	215.20%	11,071	0.10%	321	-28.20%
41	Corteva¹	7503	1.90%
42	RPM International³	7373	0.50%	793	0.60%	690	17.10%	7,776	18.10%	-230
43	ICL¹	7153	4.60%	580	-25.20%
44	Westlake Chemical¹	7022	-10.30%	-2,100
45	DuPont¹	6849	1.90%			-738		21,575	-41.50%	-333		193	-4.90%
46	Olin¹	6781	3.70%	5	-98.20%	-101		7,326	-3.30%	226	16.10%	19.3	4.90%
47	Petronas Chemicals Group¹	6760	-10.40%	-338		-504		14,192	-3.20%
48	LANXESS¹	6637	-10.90%	-367		-675		9,065	-20.20%	424	-1.40%	112	-7.70%
49	Alpek¹	6585	-12.50%	101	-65.80%	112	-61%	5,480	-15.00%	170	40.50%
50	Wacker¹	6418	-4.10%	-210		-942		9,794	-11%			252	5.40%
51	Borouge¹	5848	-3%	1,694	-11.80%	1099	-11.30%	8,489	-2.50%
52	Chemours¹	5808	0.40%	-277		-386		7,382	-1.70%	-213
53	Huntsman¹	5683	-5.80%	-131		-284		7,015	-1.40%	-173
54	Tosoh¹	5483	6.70%
55	Orica¹	5432	6%	662	23%	108.25	-69%
56	DYNO Nobel⁵	5345	-0.40%					7830	-6.80%
57	Teijin²	5275	6.60%
58	Kuraray¹	5174	-2.20%	377	-30.80%	32	-83.80%	3,702	2.30%
59	Kaneka¹	5166	5.90%	256	22.90%	162	2.20%	5,889	5.70%	340	-23.20%	252	11.10%
60	Albemarle¹	5143	-4.40%	-552		-511		16,374	-1.40%
61	Axalta Coating Systems¹	5117	-3.00%	735	4.10%	379	-3.10%	7,599	4.80%			71	-4.10%
62	Clariant¹	4933	-5.70%	456	-17.70%	-41		2810	4.80%			157.5	-0.80%
63	Solvay¹	4824	-9.20%	315	38%	358	-31.20%	7,199	-8.10%
64	Formosa Plastic Corp¹	4455	0%	-324
65	FUCHS PETROLUB¹	4169	1%	509	0%			3163	4%
66	Hanwha Solutions¹	3961	-7.10%
67	Solistice ¹	3886	-49.00%			237	-60%
68	Daicel²	3754	5.10%	390	-2.20%	317	-11.40%	5,209	-3%	445	494.80%	166	10.80%
69	Cabot⁵	3713	-7%	702	0.10%	376	-11.30%	3,815	2.10%	274	16.60%	59	-6.30%
70	Exxonmobile¹	3657	-35.00%
71	Methanex¹	3589	-3.50%			145	-42%	7,283	10.40%
72	H.B. Fuller¹	3474	-2.70%			152	16.90%	5,183	5.10%	142.3	2.20%
73	FMC¹	3467	-18.30%	-1,628		-2,237		9,687	-16.90%	-96.3		266.1	-4.30%
74	Resonac¹	3275	-10.80%	-38
75	Avient¹	3260	0.60%	204	62.30%	84	-51%	6,026	3.70%	-107
76	Tessenderlo¹	3233	4.4%	91.14	22.10%	-144		3,092	-9.90%	159	-24.90%	-31.94
77	Kemira¹	3222	-6.60%	380	-19%	227	-26.1%	3,667	-7.30%	403	102.20%	41	2.90%
78	Entegris¹	3197	-1.40%	456	-14.60%	236	-19.50%	8,351	-0.40%			329	4.10%
79	Ube¹	3116	4%	115	-19.60%			5,540	9.70%	388	68.20%
80	Trinseo¹	2975	-15.30%	-254		-545.6		2,280	-13.80%	-51
81	Tronox¹	2898	-5.70%	-253		-473		6,217	3%	-341
82	NewMarket¹	2725	-2.20%	561	-4%	419	-9.40%	3,492	11.60%	-78		132	5.80%
83	Zeon²	2692	10%	188	43%	168	-15.80%	3,416	0.30%
84	Nippon Shokubai²	2620	4.40%	122	15.1%			3,482	0.10%
85	JSR²	2592	0.10%	1,339		33		7,309	48.10%	182	-10.10%
86	Denka²	2562	2.80%	92	7.8%	-79		4,195	6.40%
87	Synthomer¹	2337	-10%	51		-82		3,065	-10.10%	116	3.7%
88	Petkim ¹	2075	-12.10%	-305		-239		3,526	-6.40%
89	Minerals Technologies¹	2073	-2%	47	-83%	-14		3,469	2.20%	107	19.70%	22.9	-0.40%
90	Quaker Chemical ¹	1889	2.70%	53	-72.80%	-2		2,798	7.20%
91	Kronos Worldwide¹	1859	-1.50%	-36.5		-111		1,817	-5.10%	43	45.40%	16	14.30%
92	Ashland¹	1824	-13.70%	-775		-845		4,611	-18.30%			54	-1.80%
93	Orion Engineered Carbon¹	1807	-3.80%	28	73.20%	-70		1,908	2.70%	360	-16%	27.5	1.50%
94	Innospec ¹	1778	-3.70%	130	-27.20%	117	227.50%	1,832	5.60%	-50		-51
95	Tata Chemicals ¹	1653	-3.50%					2,524	9.30%
96	SK Global Chemical ¹	1632	36.20%	0		19		4,200	13.40%			33	7.40%
97	AdvanSix¹	1522	0.30%			49	11.60%	1,706	7%	27	12.80%
98	Ingevity¹	1168	-2.70%			-167		1651	-18.30%
99	OCI¹	1086	11.4%	-113		-248		104	26.70%	120.2	57.50%
100	OMV AG¹	984	8.60%

¹Year Ending December 2025
²Year Ending March 2025
³Year Ending May 2025
⁴Year Ending June 2025
⁵Year Ending September 2025

The Top 100 Petrochemical Manufacturing Companies Ranking 2026, published by ChemAnalyst, presents a comprehensive assessment of the world's leading petrochemical manufacturers based on their financial performance during the fiscal year 2025. The ranking serves as a benchmark for evaluating the competitive landscape of the global petrochemical industry by analyzing the financial strength, operational efficiency, innovation capabilities, and overall business performance of the industry's key players. As the petrochemical sector continues to evolve in response to changing healthcare demands, technological advancements, demographic shifts, and regulatory developments, this ranking provides valuable insights into the companies that have demonstrated exceptional resilience and sustained growth during the year.

The ranking has been developed using publicly available financial statements and annual reports released by the respective companies for fiscal year 2025. To provide a holistic evaluation of corporate performance, ChemAnalyst analyzed six key financial indicators, namely Revenue, Operating Income, Net Income, Total Assets, Capital expenditure, and Research & Development (R&D) Expenditure. These parameters collectively reflect a company's commercial scale, operational efficiency, profitability, financial stability, and commitment to innovation. While revenue and profitability indicate market success and operational excellence, total assets demonstrate financial strength, whereas R&D expenditure highlights an organization's ability to sustain future growth through continuous product development and technological advancement.

Top Performers

ChemAnalyst has conducted a comprehensive analysis and ranking of companies based on their performance, considering key indicators such as net income, operating income, total assets, capital expenditures (Capex), and research and development (R&D) expenses in 2026 compared to 2025.

The performance of the leading chemical companies in 2026 has been marked by significant financial outcomes, driven by varying factors across different market conditions and geographies. Here, we delve into the financial performance of some of the top chemical companies, shedding light on their net income, key achievements, and challenges faced during the year.

Top 10 Companies by Revenue

In 2025, the revenue performance of the top 10 companies was mixed but predominantly weak. BASF revenue fell 2.9% to USD 69.8 billion due to negative currency effects and lower prices, despite slightly higher volumes. Sinopec declined 11.4% to USD 65.0 billion, mainly due to lower crude-oil and petrochemical prices and weaker refined-product demand. Dow fell 7% to USD 40.0 billion amid lower prices and weak chemical-market demand. LG Chem declined 5.7% to USD 31.7 billion, reflecting challenging petrochemical and battery-material markets. SABIC decreased 1% to USD 31.0 billion, primarily because of lower average selling prices, partly offset by higher volumes.

LyondellBasell revenue declined 9.7% to USD 30.2 billion as lower product prices, excess capacity and weak petrochemical margins pressured sales. Henkel fell 5.1% nominally to USD 24.0 billion due mainly to unfavorable currencies and portfolio effects, although organic sales grew 0.9%. Sherwin-Williams increased 2.1% to USD 23.6 billion, supported by higher sales across segments and the Suvinil acquisition. INEOS declined 11.6% to USD 16.7 billion, mainly due to lower selling prices despite higher volumes. Sumitomo Chemical increased 6.5% to USD 16.7 billion, supported by stronger performance across key businesses.

Top 10 Companies By operating income

The global petrochemical industry continued to demonstrate challenging operating conditions in 2025, with weak margins, excess capacity, cautious demand, and currency and cost pressures affecting profitability. Shin-Etsu Chemical recorded operating income of approximately $4.75 billion, supported by semiconductor and PVC demand, although currency and input-cost movements moderated profitability. Sherwin-Williams generated approximately $3.34 billion, supported by acquisitions, particularly Suvinil, stronger Paint Stores Group performance, improved margins, and cost discipline. Henkel reported EBIT of around $3.30 billion, slightly below the previous year, mainly due to significantly negative foreign-exchange effects, despite improved underlying profitability. Ecolab posted approximately $2.74 billion in operating income, with reported income declining slightly because of special gains and charges, while value pricing and productivity improvements supported strong underlying growth. Dow recorded approximately $0.4 billion in Operating EBIT, significantly below 2024, as lower selling prices, reduced operating rates, and weak demand outweighed cost-reduction benefits.

Sinopec’s chemicals segment recorded an operating loss of approximately $2.04 billion, reflecting rapid capacity additions, declining chemical-product profitability, intense competition, and impairment losses. BASF reported EBIT of approximately $1.91 billion, down from 2024, mainly because lower contribution margins weakened its core Chemicals, Industrial Solutions, Materials, and Nutrition & Care businesses. Sika generated approximately $1.88 billion in EBIT, with profitability affected by Fast Forward investment and efficiency costs, although underlying operations remained resilient. Lotte Chemical recorded an operating loss of approximately $1.87 billion, as prolonged petrochemical overcapacity, weak commodity margins, and restructuring efforts continued to weigh on earnings. SABIC reported approximately $1.84 billion based on the provided figure; however, its reported 2025 operating performance was materially affected by asset revaluation and divestiture-related charges, while underlying income from operations excluding divested assets improved significantly.

Top 10 Companies by net income

Shin-Etsu Chemical reported net income of approximately US$3.42 billion, up 2.7%, supported by higher operating income and stronger demand for semiconductor-related materials. Sherwin-Williams reported US$2.57 billion, down 4.2%, as acquisition costs, higher interest expenses, restructuring, impairment and foreign-exchange losses offset sales growth. Henkel recorded approximately US$2.41 billion, up 1.3%, supported by cost savings, efficiency improvements and supply-chain optimization despite weak industrial demand and currency headwinds. Ecolab reported US$2.08 billion, down 1.7%, mainly because of special charges and tax effects, although adjusted earnings improved substantially. BASF recorded approximately US$1.89 billion, up around 25%, primarily due to higher income from equity-accounted investments, particularly Wintershall Dea, despite weaker core operating performance.

PPG reported US$1.58 billion, up 41%, supported by higher volumes, pricing, productivity gains and favorable foreign exchange. Givaudan recorded approximately US$1.35 billion, down 1.7%, mainly due to Swiss-franc appreciation, although local-currency earnings increased 3.9%. Sika reported approximately US$1.32 billion, down 16.2%, due to currency effects, weaker Chinese construction activity and Fast Forward restructuring costs. Nippon Paint recorded approximately US$1.16 billion, up 42.8%, supported by the AOC acquisition, higher revenue, improved margins and cost efficiencies. Borouge reported approximately US$1.10 billion, supported by record production and sales volumes, high plant utilization, pricing premiums and strict cost control, which offset weaker benchmark polyolefin prices.

Top 10 Companies by Assets

In 2025, Sinopec reported total assets of approximately US$301.8 billion, supported by higher investments and asset growth in its chemicals and exploration businesses. BASF recorded around US$89.1 billion, with assets declining mainly because of negative foreign-exchange effects and lower non-current assets. Dow reported US$58.5 billion, up about 2.1%, driven by higher cash balances and property, plant and equipment. Henkel recorded approximately US$38.1 billion, with the decline mainly reflecting negative currency effects, particularly on intangible assets. Shin-Etsu Chemical reported around US$36.1 billion, up approximately 9.5%, supported by higher overseas subsidiary assets due to yen depreciation and continued capital investment. INEOS held approximately US$29.1 billion, with higher property, plant and equipment from investments such as Project ONE partly offset by lower inventories and receivables.

Sherwin-Williams reported US$25.9 billion, up 9.6%, mainly due to the Suvinil acquisition and increased investment in facilities, goodwill and intangible assets. Nippon Paint reached approximately US$25.7 billion, with the significant increase primarily driven by the acquisition and consolidation of AOC, which increased goodwill and non-current assets. IFF reported US$25.5 billion, down from 2024, mainly due to portfolio restructuring, business divestitures and lower assets held for sale. Ecolab recorded approximately US$24.7 billion, up about 10.3%, supported by higher goodwill, intangible assets and property, plant and equipment. Overall, acquisitions and capital investment expanded assets for several companies, while currency effects, divestitures and portfolio optimization reduced asset bases for others.

Top 10 Companies R&D Expenses

In 2025, BASF recorded R&D expenses of approximately US$2.33 billion, reflecting continued investment in sustainable products, process innovation and new technologies. Sumitomo Chemical spent around US$929 million, focusing on semiconductor materials, agricultural products, chemical recycling and advanced technologies. Dow reported US$752 million, down from the previous year mainly due to cost-reduction measures and lower performance-related compensation. Henkel spent approximately US$737 million, supporting innovation in adhesives, consumer products and sustainable solutions. IFF invested US$694 million, with higher employee-related and operating R&D costs driving the increase. Shin-Etsu Chemical spent approximately US$468 million, primarily on semiconductor materials, silicones, functional chemicals and advanced magnetic materials.

PPG recorded R&D expenses of approximately US$423 million, maintaining investment in coatings and advanced materials while controlling costs. AGC spent around US$386 million, supporting innovation in glass, electronics, chemicals and life-science products. Entegris increased R&D spending to approximately US$329 million, reflecting continued investment in semiconductor materials and next-generation process solutions. Mitsui Chemicals spent approximately US$293 million, focusing on functional polymers, specialty chemicals and electronics materials. Overall, R&D spending remained focused on high-value and technology-intensive applications, particularly semiconductor materials, sustainable chemicals, advanced coatings and specialty materials. While some companies reduced spending because of cost-control initiatives, most continued to prioritize R&D to strengthen product innovation, develop sustainable technologies and maintain competitiveness.

Research Methodology

The methodology for analyzing and ranking the world's top petrochemical manufacturing companies in 2025 involved a comprehensive and systematic approach. Initially, a thorough list of major global petrochemicall manufacturers was compiled, covering a wide range of companies from various regions and market segments. The primary source of data for this analysis was the annual reports of these companies for the year 2025, with a particular focus on their consolidated balance sheets and financial statements. The cornerstone of the ranking system was the companies' net revenue or sales figures for 2025. This metric was chosen as the primary ranking factor due to its clear representation of a company's market presence and overall financial performance. It's worth noting that the financial reporting periods varied slightly among companies, with some publishing reports for the fiscal year ending in 2025, while others for March 2025. To accommodate these differences, the methodology allowed for flexibility in the reporting periods while maintaining a focus on the most recent and relevant financial data. The scope of the report extended beyond purely petrochemical companies to include businesses with diverse operations, such as those involved in chemical manufacturing or medical equipment production. However, to maintain focus and relevance, the ranking primarily considered the performance of their petrochemical drugs segment when evaluating these multifaceted corporations.

A key aspect of the methodology was the evaluation of year-over-year performance improvement. This was calculated as the percentage change in key financial metrics from 2022 to 2023. The analysis incorporated several crucial financial indicators to provide a holistic view of each company's performance:

Sales or revenue: Reflecting the company's market performance and growth.
EBIT (Earnings Before Interest and Taxes) or Business Operating Income: Indicating operational profitability.
R&D (Research and Development) expenses: Highlighting investment in innovation and future growth.
Capital expenditure (CAPEX): Showing investment in long-term assets and infrastructure.
EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization): Providing insight into operational efficiency and cash flow.

For each of these metrics, the percentage difference between 2025 and 2024 was calculated, offering a clear picture of year-over-year growth or decline. This multi-faceted approach allowed for a nuanced understanding of each company's financial health and strategic positioning.

Note: It's important to note that in some cases, certain financial indicators had to be omitted from the analysis. This was due to inconsistencies in how different companies reported their financials, with some metrics not clearly presented in annual reports or press releases. This limitation was carefully considered to ensure that the analysis remained fair and consistent across all companies. Also, to create a level playing field for international comparison, all financial figures were converted to Million/Billion US dollars (US$). The conversion rate used was the average of 31st December 2025, ensuring that all companies were evaluated on the same currency basis, regardless of their home country or primary operational currency.

Disclaimer

The information provided in this ranking is intended to be informative and should not be relied upon as the sole factor in making any financial decisions. It is important to note that each country may have its own unique financial reporting regulations and that companies may use various methods to present their financial performance. Therefore, discrepancies in reported values may occur. While every effort has been made to generate this ranking using the most appropriate and relevant approach, any suggestions or feedback to improve its accuracy are welcome.

Get Real Time Prices