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"Dow Inc." redirects here. Not to be confused with Dow Jones & Company

The Dow Chemical Company is an American multinational corporation headquartered in Midland, Michigan, United States. The company was among the three largest chemical producers in the world in .[2] It is the operating subsidiary of Dow Inc., a publicly traded holding company incorporated under Delaware law.[3]

With a presence in around 160 countries, it employs about 36,000 people worldwide.[1] Dow has been called the "chemical companies' chemical company",[4] as its sales are to other industries rather than directly to end-use consumers. Dow is a member of the American Chemistry Council.[5]

In , Dow and fellow chemical company DuPont agreed to a corporate reorganization involving the merger of Dow and DuPont followed by a separation into three different entities. The plan commenced in , when Dow and DuPont merged to form DowDuPont, and was finalized in April , when the materials science division was spun off from DowDuPont and took the name of the Dow Chemical Company.[6][7][8][9]

History

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Early history

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Dow was founded in by chemist Herbert Henry Dow, who invented a new method of extracting the bromine that was trapped underground in brine at Midland, Michigan.[10] The company originally sold only bleach and potassium bromide, achieving a bleach output of 72 tons a day in .[11] Early in the company's history, a group of British manufacturers tried to drive Dow out of the bleach business by cutting prices.[12] Dow survived by also cutting its prices and, although losing about $90,000 in income, began to diversify its product line.[13]

In , German bromide producers began dumping bromides at low cost in the U.S. in an effort to prevent Dow from expanding its sales of bromides in Europe. Instead of competing directly for market share with the German producers, Dow bought the cheap German-made bromides and shipped them back to Europe. This undercut his German competitors.[14] Even in its early history, Dow set a tradition of rapidly diversifying its product line. Within twenty years, Dow had become a major producer of agricultural chemicals, elemental chlorine, phenol and other dyestuffs, and magnesium metal.[citation needed]

During World War I, Dow supplied many war materials that the United States had previously imported from Germany. Dow produced magnesium for incendiary flares, monochlorobenzene and phenol for explosives, and bromine for medicines and tear gas. By , 90 percent of Dow's production was geared towards the war effort.[15] At this time, Dow created the diamond logo that is still used by the company.[16] After the war, Dow continued research in magnesium, and it developed refined automobile pistons that produced more speed and better fuel efficiency. The Dowmetal pistons were used heavily in racing vehicles, and the winner of the Indianapolis 500 used the Dowmetal pistons in his vehicle.[15]

In the s, Dow began producing plastic resins, which would grow to become one of the corporation's major businesses. Its first plastic products were ethylcellulose, made in , and polystyrene, made in .[11]

Diversification and expansion

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From to , Dow built its first plant in Freeport, Texas, to produce magnesium extracted from seawater rather than underground brine.[17] The Freeport plant is Dow's largest site, and the largest integrated chemical manufacturing site in the country.[18] The site grew quickly ' with power, chlorine, caustic soda and ethylene also soon in production.[19] Growth of this business made Dow a strategic company during World War II, as magnesium became important to manufacture lightweight parts for aircraft.[20] Based on ' data, the Freeport plants produced 27 billion lbs of product ' or 21% of Dow's global production.[21][better source needed] In , Dow began its foreign expansion with the formation of Dow Chemical of Canada in Sarnia, Ontario, to produce styrene for use in styrene-butadiene synthetic rubber.[22] Also during the war, Dow and Corning began their joint venture, Dow Corning, to produce silicones for military and, later, civilian use.

The Ethyl-Dow Chemical Co. plant at Kure's Beach, NC, the only plant on the East Coast producing bromine from seawater, was attacked by a German U-boat in .[23]

In the post-war era, Dow began expanding outside of North America, founding its first overseas subsidiary in Japan in , and in several other nations soon thereafter. Based largely on its growing plastics business, Dow opened a consumer products division, beginning with Saran wrap in .[24] Based on its growing chemicals and plastics businesses, Dow's sales exceeded $1 billion in and $2 billion in .[25]

Nuclear weapons

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From to , Dow managed the Rocky Flats Plant near Denver, Colorado. Rocky Flats was a nuclear weapons production facility that produced plutonium triggers for hydrogen bombs.[26]

Contamination from fires and radioactive waste leakage plagued the facility under Dow's management. In a fire burned plutonium dust in the facility and sent radioactive particles into the atmosphere.[26]

The Department of Energy transferred management of the facility to Rockwell International in .[26] In , nearby residents filed a class action lawsuit against Dow and Rockwell for environmental contamination of the area; the case was settled in for $375 million.[27] According to the Appellate Court, the owners of the 12,000 properties in the class-action area had not proved that their properties were damaged or they had suffered bodily injury.[28]

Vietnam War: napalm and Agent Orange

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U.S. Army helicopter spraying Agent Orange over agricultural land during the Vietnam War

The United States military used napalm bombs during the Vietnam War until . Dow was one of several manufacturers who began producing the napalm B compound under government contract from . After experiencing protests and negative publicity, the other suppliers discontinued manufacturing the product, leaving Dow as the sole provider. The company said that it carefully considered its position, and decided, as a matter of principle, "its first obligation was to the government".[29] Despite a boycott of its products by anti-war groups and harassment of recruiters on some college campuses, Dow continued to manufacture napalm B until .[29]

Agent Orange, a chemical defoliant containing dioxin, was also manufactured by Dow in New Plymouth, New Zealand, and Midland, Michigan, in the United States for use by the British military during the Malayan Emergency and the U.S. military during the Vietnam War. In , a lawsuit was filed by Vietnamese victims of Agent Orange against Dow and Monsanto Co., which also supplied Agent Orange to the military. The lawsuit was dismissed.[30] In , Monsanto agreed to a $93 million settlement as a result of a case pursued by ex-Monsanto employees and citizens in the city of Nitro, WV. In , a chemical plant in Nitro experienced an explosion that damaged a tank containing 2,4,5-T, one of the composites that is used in the production of Agent Orange. The settlement of the case included $9 million for the cleanup of affected homes in the area, and $84 million to cover the medical monitoring and treatment of people affected by the explosion, as well as legal costs for the claimants. No care has been given for the in state damage done by the Headquarters in Midland, Michigan, and they refuse to give the evidence to the community.[31]

Dow Corning breast implants

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A major manufacturer of silicone breast implants, Dow Corning (Dow Chemical's Joint Venture with Corning Inc.) was sued for personal damages caused by ruptured implants. On 6 October , all such cases pending in the District Court against the company were dismissed. A number of large, independent reviews of the scientific literature, including the Institute of Medicine in the United States, have subsequently found that silicone breast implants do not cause breast cancers or any identifiable systemic disease.[32][33]

Bhopal disaster

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Dow Chemical banner in Bhopal, India,

The Bhopal disaster occurred at a pesticide plant owned by Union Carbide India Ltd., a subsidiary of Union Carbide, in . A gas cloud containing methyl isocyanate and other chemicals spread to the neighborhoods near the plant where more than half a million people lived. The government of Madhya Pradesh confirmed 3,787 deaths related to the gas release. The leak caused 558,125 injuries, including 38,478 temporary partial injuries and approximately 3,900 severely and permanently disabling injuries.[34] Union Carbide was sued by the Government of India and agreed to an out-of-court settlement of US$470 million in . Dow Chemical acquired Union Carbide in . Activists want Dow Chemical to clean up the site which is now controlled by the state of Madhya Pradesh.

DBCP

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Until the late s, Dow produced DBCP (1,2-dibromo-3-chloropropane), a soil fumigant, and nematicide, sold under the names the Nemagon and Fumazone. Plantation workers who alleged that they became sterile or were stricken with other maladies subsequently sued both Dow and Dole Foods in Latin American courts. The cases were marred by extensive fraud, including the falsification of test results and the recruitment of plaintiffs who had never worked at Dole plantations.[35] While Nicaraguan courts awarded the plaintiffs over $600 million in damages, they have been unable to collect any payment from the companies. A group of plaintiffs then sued in the United States, and, on 5 November , a Los Angeles jury awarded them $3.2 million. Dole and Dow vowed to appeal the decision.[36] On 23 April a Los Angeles judge threw out two cases against Dole and Dow due to fraud and extortion by lawyers in Nicaragua recruiting fraudulent plaintiffs to make claims against the company.[37] The ruling casts doubt on $2 billion in judgments in similar lawsuits.[38]

Tax evasion

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In February a federal court rejected two tax shelter transactions entered into by Dow that created approximately $1 billion in tax deductions between and . The court wrote that the transactions were "schemes that were designed to exploit perceived weaknesses in the tax code and not designed for legitimate business reasons". The schemes were created by Goldman Sachs and the law firm of King & Spalding, and involved creating a partnership that Dow operated out of its European headquarters in Switzerland.[39][40] Dow stated that it had paid all tax assessments with interest. The case was against the Internal Revenue Service seeking a refund of the taxes paid.[41] The case was appealed to the 5th Circuit court, where Dow's claims were again rejected. Dow has petitioned for an en banc hearing by the 5th Circuit, arguing that the decision was contrary to established case law.[42]

Price fixing

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Dow Chemical was implicated in a price-fixing scheme that inflated the cost of polyurethane for customers. The U.S. Justice Department closed an investigation in without charges or recommendations, but a class-action civil lawsuit won at a jury trial in . Dow settled the suit in for $835 million.[43]

Recent mergers, acquisitions and reorganization

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s ' transition from geographic alignment to global business units

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In the early s, Dow embarked on a major structural reorganization.[44] The former reporting hierarchy was geographically based, with the regional president reporting directly to the overall company president and CEO. The new organization combines the same businesses from different sites, irrespective of which region they belong (i.e. the vice president for Polystyrene is now in charge of these plants all over the world).[45][46][47]

Union Carbide merger

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At the beginning of August , Dow agreed to purchase Union Carbide Corp. (UCC) for $9.3 billion in stock.[48] At the time, the combined company was the second largest chemical company, behind DuPont.[49] This led to protests from some stockholders, who feared that Dow did not disclose potential liabilities related to the Bhopal disaster.[50]

William S. Stavropoulos served as president and chief executive officer of Dow from to , then again from to .[51] He relinquished his board seat on 1 April , having been a director since and chairman since . During his first tenure, he led the purchase of UCC, which proved controversial, as it was blamed for poor results under his successor as chief executive officer, Mike Parker.[52] Parker was dismissed and Stavropoulos returned from retirement to lead Dow.[53][54]

' restructuring

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On 31 August , Dow announced that it planned to close facilities at five locations:[55]

In , Dow formed the Business Process Service Center (BPSC).

In December , Dow announced a series of moves to revamp the company. A 4 December announcement revealed that Dow planned to exit the automotive sealers business in or .[66] Within several weeks, Dow also announced the formation of a joint venture, later named K-Dow, with Petrochemical Industries Co. (PIC), a subsidiary of Kuwait Petroleum Corporation. In exchange for $9.5 billion, the agreement included Dow selling 50-percent of its interest in five global businesses: polyethylene, polypropylene and polycarbonate plastics, and ethylenamines and ethanolamines.[67] The agreement was terminated by PIC on 28 December .[68]

Rohm & Haas Co. purchase

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On 10 July , Dow agreed to purchase all of the common equity interest of Rohm and Haas Co. for $15.4 billion, which equated to $78 per share.[69] The buyout was financed with equity investments of $3 billion by Berkshire Hathaway Inc. and $1 billion by the Kuwait Investment Authority.[70] The purpose of the deal was to move Dow Chemical further into specialty chemicals, which offer higher profit margins than the commodities market and are more difficult to enter for the competition.[citation needed] The purchase was criticized by many on Wall Street who believed Dow Chemical overpaid (about a 75 percent premium on the previous day's market capital) to acquire the company; however, the high bid was needed to ward off competing bids from BASF.[71] The transaction to purchase the outstanding interest of Rohm and Haas was closed on 1 April .[72]

Accelerated implementation

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On 8 December , Dow announced that due to the Financial crisis of ', it would accelerate job cuts resulting from its reorganization. The announced plan included closing 20 facilities, temporarily idling 180 plants, and eliminating 5,000 full-time jobs (about 11 percent of its work-force) and 6,000 contractor positions.[73]

Strategy interruption

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Citing the global recession that began in the latter half of , the Kuwaiti government scuttled the K-Dow partnership on 28 December .[74] The collapse of the deal dealt a blow to Dow CEO Andrew Liveris' vision of restructuring the company to make it less cyclical. However, on 6 January Dow Chemical announced they were in talks with other parties who could be interested in a major joint venture with the company.[75] Dow also announced they that it would be seeking to recover damages related to the failed joint venture from PIC.[75]

After the K-Dow deal collapsed, some speculated that the company would not complete the Rohm & Haas transaction, as the cash from the former transaction was expected to fund the latter.[76] The deal was expected to be finalized in early and was to form one of the nation's largest specialty chemicals firms in the U.S.[77][78][79] However, on 26 January the company informed Rohm and Haas that it would be unable to complete the transaction by the agreed upon deadline.[80] Dow cited a deteriorated credit market and the collapse of the K-Dow Petrochemical deal as reasons for failing to timely close the merger. Around the same time, CEO Andrew Liveris said a first- time cut to the company's 97- year- old dividend policy was not "off the table". On 12 February , the company declared a quarterly dividend of $0.15/share, down from $0.42 the previous quarter. The cut represented the first time the company had diminished its investor payout in the dividend's 97-year history.[81][82]

The transaction to purchase the outstanding interest of Rohm and Haas closed on 1 April .[83] After negotiating the sale of preferred stock with Rohm and Hass' two largest stockholders and extending their one-year bridge loan an additional year, the company purchased Rohm and Haas for $15 billion ($78 a share) on 9 March .[84]

dismissal of senior executives

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On 12 April , Dow dismissed two senior executives for "unauthorized discussions with third parties about the potential sale of the company". The two figures are executive vice president Romeo Kreinberg, and director and former CFO J. Pedro Reinhard. Dow claims they were secretly in contact with JPMorgan Chase; at the same time, a story surfaced in Britain's Sunday Express regarding a possible leveraged buyout of Dow. The two executives have since filed lawsuits claiming they were fired for being a threat to CEO Liveris, and that the allegations were concocted as a pretext.[85] However, in June Dow Chemical and the litigants announced a settlement in which Kreinberg and Reinhard dropped their lawsuits and admitted taking part in discussions "which were not authorized by, nor disclosed to, Dow's board concerning a potential LBO" and acknowledged that it would have been appropriate to have informed the CEO and board of the talks.[86]

sale of zoxamide business

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In summer , Dow sold its zoxamide business to Gowan Company. Included in the sale were the trademarks for a potato and grape fungicide called Gavel (fungicide). It is employed by potato growers to control early and late potato blight and is also registered in Canada for control of downy mildew in grapes, except in British Columbia.[87]

' New operating segments

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In the fourth quarter of , Dow announced new operating segments in response to its previously announced leadership changes. The company stated it would give further support to its end-market orientation and increase its alignment to Dow's key value chains ' ethylene and propylene.[88]

U.S. Gulf Coast investments

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Several plants on the Gulf Coast of the US have been in development since , as part of Dow's transition away from naphtha. Dow estimates the facilities will employ about people, and people during construction.[89] The plants will manufacture materials for several of its growing segments, including hygiene and medical, transportation, electrical and telecommunications, packaging, consumer durables and sports and leisure.[90]

Dow's new propane dehydrogenation (PDH) facility in Freeport, Texas, was expected to come online in , with a first tonne per year unit, while other units would become available in the future.[91][92] An ethylene production facility was expected to start up in the first half of .[93][94][95]

Chlorine merger

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On 27 March , Dow and Olin Corporation announced that the boards of directors of both companies unanimously approved a definitive agreement under which Dow will separate a significant portion of its chlorine business and merge that new entity with Olin in a transaction that will create an industry leader, with revenues approaching $7 billion.[96] Olin, the new partnership, became the largest chlorine producer in the world.[97]

merger and separation with DuPont

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On 11 December , Dow announced that it would merge with DuPont, in an all-stock deal.[98] The combined company, which was known as DowDuPont, had an estimated value of $130 billion, was equally held by the shareholders of both companies, and maintained their respective headquarters in Michigan and Delaware.[98] Within two years of the merger's closure, DowDuPont was set to split into three separate public companies, focusing on the agriculture, chemical, and specialty product industries.[99] Shareholders of each company held 50% of the combined company.[100] In the new entity, Dow Chemical chief executive officer Andrew N. Liveris became executive chairman and DuPont chief executive officer Edward D. Breen became chief executive officer.[101] In January , the merger was pushed back a second time pending regulatory approvals.[102]

The same day, Dow also announced that it had reached a deal to acquire Corning Incorporated's stake in their joint venture Dow Corning for $4.8 billion in cash and a roughly 40% stake in Hemlock Semiconductor Corporation.[102]

In , DowDuPont de-merged, forming Dow Inc. The spin-off was completed on 1 April , at which time Dow Inc. became an independent, publicly traded company, and the direct parent company of The Dow Chemical Company.[103] Also in Dow employees won an Adhesives and Sealants Council Innovation Award for "UV Curable Primer that Enables Hard to Bond INFUSE Olefin Block Copolymer Midsole Foams in High Performance Footwear".[104]

Focus on higher margin business

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Dow Chemical has begun to shed commodity chemical businesses, such as those making the basic ingredients for grocery bags and plastic pipes, because their profit margins only average 5'10%.[citation needed] Dow is, as of , focusing its resources on specialty chemicals that earn profit margins of at least 20%.[97][105]

Dioxin contamination

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Watershed of the Tittabawassee River, including Midland, site of the Dow Chemical works

Areas along Michigan's Tittabawassee River, which runs within yards of Dow's main plant in Midland, were found to contain elevated levels of the cancer-causing chemical dioxin in November . The dioxin was located in sediments two to ten feet below the surface of the river, and, according to The New York Times, "there is no indication that residents or workers in the area are directly exposed to the sites".[106] However, people who often eat fish from the river had slightly elevated levels of dioxin in their blood.[106] In July , Dow reached an agreement with the Environmental Protection Agency to remove 50,000 cubic yards (38,000 m3) of sediment from three areas of the riverbed and levees of the river that had been found to be contaminated.[107] In November , Dow Chemical along with the United States Environmental Protection Agency and Michigan Department of Environmental Quality agreed to establish a Superfund to address dioxin cleanup of the Tittabawassee River, Saginaw River and Saginaw Bay.[108]

Sale of herbicide business

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In December , Dow Chemicals agreed to sell part of its global herbicide business, which had reported falling sales for nearly a year. A portfolio of weed killers known as dinitroanilines was sold to privately held Gowan Company, a family owned company located in Yuma, Arizona, which markets a variety of pesticides to the agricultural and horticultural industries.[109] The global trademarks for Treflan (pesticide)®, which can be sprayed on field corn, cotton and some fruit and vegetables, were included in the sale, as well as a formulation and packaging facility in Fort Saskatchewan, Alberta, Canada.[110] Edge (pesticide)®, Team (pesticide)®, Bonalan (pesticide)® and Sonalan (pesticide)®, intellectual property and labels for herbicides based on the molecules trifluralin, benfluralin and ethalfluralin were also included in the sale. Annual grasses and small seeded broadleaf weeds can be controlled with these products in a wide range of crops including cotton, beans, canola, cereals, crucifers, cucurbits, and vegetables. Dinitroanilines, are also known as "DNA herbicides", and have been commercialised at least since .[110][111]

Products

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Former Dow Chemical Corporate headquarters in Midland, Michigan

Dow is a large producer of plastics, including polystyrene, polyurethane, polyethylene, polypropylene, and synthetic rubber. It is also a major producer of ethylene oxide, various acrylates, surfactants, and cellulose resins. It produces agricultural chemicals including the pesticide Lorsban and consumer products including Styrofoam. Some Dow consumer products, including Saran wrap, Ziploc bags, and Scrubbing Bubbles were sold to S. C. Johnson & Son in .[112]

Performance plastics

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Performance plastics make up 25% of Dow's sales,[113] with many products designed for the automotive and construction industries. The plastics include polyolefins such as polyethylene and polypropylene, as well as polystyrene used to produce Styrofoam insulating material. Dow manufactures epoxy resin intermediates including bisphenol A and epichlorohydrin. Saran resins and films are based on polyvinylidene chloride (PVDC).

Performance chemicals

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The Performance Chemicals (17 percent of sales) segment produces chemicals and materials for water purification, pharmaceuticals, paper coatings, paints and advanced electronics. Major product lines include nitroparaffins, such as nitromethane, used in the pharmaceutical industry and manufactured by Angus Chemical Company,[114] a wholly owned subsidiary of The Dow Chemical Co. Important polymers include Dowex ion-exchange resins, acrylic and polystyrene latex, as well as Carbowax polyethylene glycols. Specialty chemicals are used as starting materials for production of agrochemicals and pharmaceuticals.

Water purification

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Dow Water and Process Solutions (DW&PS) is a business unit which manufactures Filmtec reverse osmosis membranes which are used to purify water for human use in the Middle East. The technology was used during the Summer Olympics and Summer Olympics.[115] The DW&PS business unit remained with DowDuPont following the April spin-off.

Agricultural sciences

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Agricultural Sciences, or (Dow AgroSciences), provides 7 percent of sales and is responsible for a range of insecticides (such as Lorsban), herbicides and fungicides. Seeds from genetically modified plants are also an important area of growth for the company.[116] Dow AgroSciences sells seeds commercially under the following brands: Mycogen (grain corn, silage corn, sunflowers, alfalfa, and sorghum), Atlas (soybean), PhytoGen (cotton) and Hyland Seeds in Canada (corn, soybean, alfalfa, navy beans and wheat). The Dow AgroSciences business unit was spun off into Corteva Inc, on 3 June .[citation needed]

Basic plastics

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Basic plastics (26 percent of sales) end up in everything from diaper liners to beverage bottles and oil tanks. Products are based on the three major polyolefins ' polystyrene (such as Styron resins), polyethylene and polypropylene.

Basic chemicals

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Basic chemicals (12 percent of sales) are used internally by Dow as raw materials and are also sold worldwide. Markets include dry cleaning, paints and coatings, snow and ice control and the food industry. Major products include ethylene glycol, caustic soda, chlorine, and vinyl chloride monomer (VCM, for making PVC). Ethylene oxide and propylene oxide and the derived alcohols ethylene glycol and propylene glycol are major feedstocks for the manufacture of plastics such as polyurethane and PET.

Hydrocarbons and energy

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The Hydrocarbons and Energy operating segment (13 percent of sales) oversees energy management at Dow.[113] Fuels and oil-based raw materials are also procured. Major feedstocks for Dow are provided by this group, including ethylene, propylene, 1,3-butadiene, benzene and styrene.

Hand sanitizer

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In March , during the Coronavirus outbreak, Dow expanded its European hand sanitizer production, providing the product free to hospitals.[117]

Finances

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Sales by business ()

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Business share Packaging and Specialty Plastics 51.9% Industrial Intermediates and Infrastructure 28.1% Performance Materials and Coatings 19.0% Corporate 1.0% Sales by region ()

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Business share United States 34.4% Europe, Middle East, Africa and India 32.6% Asia Pacific 18.5% Latin America 11.6% Canada 2.9%

For the fiscal year , Dow Chemicals reported earnings of US$0.6 billion, with an annual revenue of US$44.9 billion. Dow Chemicals shares traded at over $67 per share, and its market capitalization was valued at over US$121.1 billion in September .[119]

Year Revenue
in million USD$ Net income
in million USD$ Total Assets
in million USD$ 48,158 4,318 79,511 43,730 465 79,940 49,604 4,641 83,699 42,951 (1,359) 60,524 38,542 1,216 61,470 54,968 6,279 62,990 56,902 4,558 60,603 44,622 578 57,967

Environmental record

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Superfund site in Uravan

In , Dow agreed to pay $2 million, the largest penalty ever in a pesticide case,[120] to the state of New York for making illegal safety claims related to its pesticides. The New York Attorney General's Office stated that Dow AgroSciences had violated a agreement with the State of New York to stop advertisements making safety claims about its pesticide products. Dow stated that it was not admitting to any wrongdoing, and that it was agreeing to the settlement to avoid a costly court battle.[121][122]

According to the United States Environmental Protection Agency (EPA), Dow has some responsibility for 96 of the United States' Superfund toxic waste sites.[123] One of these, a former UCC uranium and vanadium processing facility near Uravan, Colorado, is listed as the sole responsibility of Dow.[124][125] The rest are shared with numerous other companies. Fifteen sites have been listed by the EPA as finalized (cleaned up) and 69 are listed as "construction complete", meaning that all required plans and equipment for cleanup are in place.[126]

In , the chemical industry trade association ' the American Chemical Council ' gave Dow an award of 'Exceptional Merit' in recognition of longstanding energy efficiency and conservation efforts. Between and , Dow reduced energy intensity (BTU per pound produced) by 22 percent. This is equivalent to saving enough electricity to power eight million US homes for a year.[127] The same year, Dow subsidiary, Dow Agrosciences, won a United Nations Montreal Protocol Innovators Award for its efforts in helping replace methyl bromide ' a compound identified as contributing to the depletion of the ozone layer. In addition, Dow Agrosciences won an EPA "Best of the Best" Stratospheric Ozone Protection Award.[128] The United States Environmental Protection Agency (EPA) named Dow as a Energy Star Partner of the Year for excellence in energy management and reductions in greenhouse gas emissions.[129]

In December , the company was added to the Dow Jones Sustainability World Index.[130]

Dow Chemical Company reported Total CO2e emissions (Direct + Indirect) for the twelve months ending 31 December at 33,100 Kt (+700/+2.2% y-o-y)[131] and plans to reduce emissions 15% by from a base year.[131]

Board of directors

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The final board of directors of The Dow Chemical Co. were, prior to the closing of the merger with DuPont on 1 September :[132]

The ten members of the board of directors of today's iteration of Dow are:[138][139]

In July , Dow became a worldwide partner of the Olympic Games. The sponsorship extended until .[141]

In September , Dow obtained the naming rights to the Saginaw County Event Center in Saginaw, Michigan; the center is now called the Dow Event Center. The Saginaw Spirit (of the Ontario Hockey League) plays at the center, which also hosts events such as professional wrestling, live theater, and concerts.[142][143][144]

In October , Dow bought the naming rights to the stadium used by the Great Lakes Loons, a Single-A minor league baseball team located in its hometown of Midland, Michigan. The stadium is called Dow Diamond. The Dow Foundation played a key role in bringing the Loons to the city.

In , Dow signed a $100m (£63m) 10-year deal with the International Olympic Committee and agreed to sponsor the £7m Olympic Stadium wrap.[145]

Since Dow also sponsors Austin Dillon's #3 Chevrolet for Richard Childress Racing in the NASCAR Cup Series.

Major collaborations

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Lab Safety Academy

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On 20 May , Dow launched the Dow Lab Safety Academy, a website that includes a large collection of informational videos and resources that demonstrate best practices in laboratory safety.[146] The goal of the website is to improve awareness of safety practices in academic research laboratories and to help the future chemical workforce develop a safety mindset. As such, the Dow Lab Safety Academy is primarily geared toward university students. However, Dow has made the content open to all, including those already employed in the chemical industry. The Dow Lab Safety Academy is also available through the Safety and Chemical Engineering Education program, an affiliate of American Institute of Chemical Engineers (AIChE); and The Campbell Institute, an organization focusing on environment, health and safety practices.

The Dow Lab Safety Academy is one component of Dow's larger laboratory safety initiative launched in early , following a report from the U.S. Chemical Safety Board[147] that highlighted the potential hazards associated with conducting research at chemical laboratories in academic institutions. Seeking to share industry best practices with academia, Dow partnered with several U.S. research universities to improve safety awareness and practices in the departments of chemistry, chemical engineering, engineering and materials. Through the pilot programs with U.C. Santa Barbara (UCSB), University of Minnesota, and Pennsylvania State University, Dow worked with graduate students and faculty to identify areas of improvement and develop a culture of laboratory safety.

Nature conservancy

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In January , The Nature Conservancy and The Dow Chemical Co. announced a collaboration[148] to integrate the value of nature into business decision-making. Scientists, engineers, and economists from The Nature Conservancy and Dow are working together at three pilot sites (North America, Latin America, and TBD[149]) to implement and refine models that support corporate decision-making related to the value and resources nature provides. Those ecosystem services include water, land, air, oceans and a variety of plant and animal life. These sites will serve as a 'living laboratories', to validate and test methods and models so they can be used to inform more sustainable business decisions at Dow and hopefully influence the decision-making and business practices of other companies.[150]

Part-owned companies

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Companies part-owned by Dow include:[1]

• EQUATE Petrochemical Co. K.S.C.C.
• The Kuwait Olefins Company K.S.C.C.
• The Kuwait Styrene Company K.S.C.C.
• Map Ta Phut Olefins Company Limited
• SCG-DOW Group
• Sadara Chemical Company
• Dow Toray Co., Ltd. (joint venture with Toray Industries)

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Notable employees

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See also

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References

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Further reading

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• Ray H. Boundy, J. Lawrence Amos. (). A History of the Dow Chemical Physics Lab: The Freedom to be Creative. M. Dekker. ISBN 0---3.
• E. Ned Brandt. (). Growth Company: Dow Chemical's First Century. Michigan State University Press. ISBN 0--426-4 online book review
• Don Whitehead and Max Dendermonde. (). The Dow Story: The History of the Dow Chemical Co. McGraw-Hill. ISBN 90--9-7.

Polyethylene is a thermoplastic polymer resin that is mainly obtained by polymerization of ethylene. It is a versatile resin product that exhibits great durability and chemical resistance. The polymer resin is generally available in two varieties, i.e., LDPE and HDPE. High-density polyethylene possesses excellent rigidity and strength when compared to low-density polyethylene. The compound is used to manufacture containers and storage products on a large scale. On the other hand, low-density polyethylene allows product flexibility and is used to manufacture coatings, films, and bags on a large scale.

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Polyethylene is manufactured by various polymer production companies across the world. The company majorly deals with the manufacturing of varieties of polymers and plastic products. There are some of the key manufacturers enlisted for polyethylene in the world that are enlisted below.

Top 10 polyethylene manufacturers in the world

Top polyethylene manufacturers in the world are:

LyondellBasell Industries N.V.

Company Website https://www.lyondellbasell.com/ Headquartered in London, UK Founded in

LyondellBasell Industries N.V. is a chemical company that is mainly associated with the packaging, transportation, and healthcare sectors. The company was established in the year , with its headquarters located in London. The company is entitled to be one of the prime producers in the global polyethylene market.

ExxonMobil Chemical

Company Website https://www.exxonmobilchemical.com/ Headquartered in Texas, US Founded in

ExxonMobil Chemical Company is a US-based chemical company that mainly deals with the production of various chemical-based or petroleum-based products on a large scale. It is mainly associated with the chemical, petrochemical, and petroleum sectors. The company was established in the year , with its headquarters located in Texas, US. The company is entitled to be one of the major producers of polyethylene on a global scale.

SABIC

Company Website https://www.sabic.com/ Headquartered in Riyadh, Saudi Arabia Founded in

SABIC is an Arabian petroleum and petrochemical company that was established in the year . The company majorly deals with the production and distribution of a large variety of petroleum and petrochemical products. It is one of the primary companies that produce a variety of polymer resins and is also one of the top producers of polyethylene resins globally.

Reliance Industries Limited

Company Website https://www.ril.com/ Headquartered in Mumbai, India Founded in

Reliance Industries Limited is a key manufacturer of polyethylene polymer resins on a large scale. The company was established in the year , with its headquarters located in Mumbai, India. It is one of the top Indian firms that is primarily associated with the petrochemical and petroleum industries globally.

INEOS

Company Website https://www.ineos.com/ Headquartered in London, UK Founded in

INEOS group is a global leader in petrochemical companies. It is among the top producers of various key chemicals and resin materials that rea derived from petrochemicals on a large scale. The headquarters is located in London, UK. The company was first established in the year and is tagged as one of the key players in the global polyethylene market.

China National Petroleum Corporation

Company Website https://www.cnpc.com.cn/ Headquartered in Beijing, China Founded in

China National Petroleum Corporation is a Chinese petrochemical firm that is located in Beijing, China. The company was first established in the year . It primarily deals with manufacturing petrochemical products on a large scale. It is also tagged as one of the major dealers of polyethylene in the petrochemical market.

Sinopec Corp.

Company Website http://www.sinopec.com/ Headquartered in Beijing, China Founded in

Sinopec Corporation is one of the major producers of polyethylene within the country as well as the world. The company was first established in the year , with its headquarters located in Beijing, China. The company is primarily associated with petrochemical and oil resources on a large scale. It is involved in marketing, explorations, and development of the same. With its prime dominance in the production and distribution of polymer resins, it stands among the major producers of polyethylene globally.

Ducor Petrochemicals

Company Website https://ducorchem.com/ Headquartered in Rotterdam, South Holland Founded in

Ducor Petrochemicals mainly works with petrochemicals and is one of the major firms that is involved in manufacturing petrochemical derivatives on a large scale. The company was established in the year , with its headquarters located in Rotterdam, South Holland. The company is engaged in manufacturing polymer resins of wide varieties and marketing them on a global scale.

Formosa Plastic Group

Company Website https://www.fpg.taipei/ Headquartered in Yunlin, Taiwan Founded in

Formosa Plastic Group is a plastic manufacturing company that is located in Yunlin, Taiwan. The company was first established in the year . It is mainly associated with the biotech, petrochemical, and electronics industries on a wide scale. The company is tagged as one of the major producers of polyethylene material on a global scale.

Braskem

Company Website https://www.braskem.com.br/ Headquartered in São Paulo, Brazil Founded in

Braskem is a Brazilian organization that mainly deals with the production of petrochemicals on a global scale. The company was established in the year , with its headquarters located in São Paulo, Brazil. The company is known to produce various polymer resin varieties, including polyethylene, on a large scale.

The Polyethylene market is majorly connected with the automotive, agricultural, pharmaceutical, medical, construction, consumer goods/ lifestyle, electrical and electronics sectors on a large scale. It is a versatile resin material that is widely used to manufacture various plastic products such as bags, bottles, containers, boxes, films, caps, electrical appliances and more. It is largely impacted by the movements in the demand graph from these key sectors. The market has seen a decline during the pandemic period for polyethylene material. However, the polyethylene market has gained stability and is expected to grow in the upcoming years.

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Prakhar Panchbhaiya

Senior Content Writer at Procurement Resource

Prakhar Panchbhaiya is an accomplished content writer and market research analyst. With over 4 years of experience in content creation and market analysis encompassing many industries, including pharmaceuticals, nutraceuticals, biochemistry, healthcare, ed-tech, and Food & Agriculture, he has been creating quality content for multiple sectors. He is a Biochemistry major with sturdy backing in a PG diploma in digital marketing, helping in the exhaustive content creation based on extensive research and competitive marketing.

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