Despite headwinds like the war in Europe, high inflation, and the lingering effects of the COVID-19 pandemic, the US chemical industry made it out of 2022 in relatively good shape. That is one interpretation of the results of C&EN’s new survey of the top 50 US chemical producers, which is based on these firms’ financial results for 2022. These 50 chemical makers posted combined sales of $376.7 billion, an 11.4% increase from a year ago and a new record for the annual survey. Only six firms posted a sales decline. But for the 43 firms that disclose profit figures, combined chemical operating profits fell 4.8%, to $55.2 billion. Sixteen firms posted an earnings decline. One company, Trinseo, posted a loss. Many of those that reported reduced profits—Dow, ExxonMobil, LyondellBasell Industries, and Westlake—are large petrochemical makers. The petrochemical industry built a lot of capacity in recent years, and the sector is