Dow Chemical plant in South Charleston, West Virginia.
West Virginia Collection within the Carol M. Highsmith Archive—Library of Congress, Washington, D.C. (LC-DIG-highsm-31713)
Overview of Dow Inc.
Dow Inc., previously known as Dow Chemical Company, stands as a leader in the global market for chemicals and plastics. With its headquarters nestled in Midland, Michigan, the company has become synonymous with a vast array of products that range from innovative plastics to sealants and specialty chemicals. Dow’s commitment to quality and sustainability has made it a cornerstone of many industrial sectors, shaping the way that materials are used today.
Early History and Growth
Founded in 1897 by chemist Herbert H. Dow, the journey of Dow Chemical began as a side venture to enhance the Midland Chemical Company, established in 1890. The initial impetus behind Dow Chemical’s inception was the need for a bleach plant utilizing byproducts from the bromine extraction processes at Midland Chemical. Over time, the company tapped into Michigan’s rich brine deposits, producing various chemicals such as chlorides, magnesium, and calcium.
In 1900, Dow Chemical was incorporated, bringing together its diverse Midland properties. Although originally focused on bromide production, the post-World War I era saw the company shifting its sights to phenol and magnesium, particularly for munitions production. The wartime demand would prove profitable but also laid the groundwork for future controversies tied to chemical weaponry.
Research and Development Investment
A hallmark of Dow’s growth has been its unwavering commitment to research and development. This strategy not only spurred diversification into agricultural and synthetic rubber markets but also established Dow as a market leader. The company’s innovative spirit cultivated a culture of excellence and exploration, resulting in significant advances in materials science.
Controversies, Lawsuits, and Bankruptcies
Despite its significant contributions, Dow has not been without its share of controversies and legal challenges. A number of its products have sparked public concern, leading to notable lawsuits:
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Mustard Gas: During World War I, Dow produced mustard gas, a chemical weapon that illustrated the devastating impact of chemical warfare.
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Napalm and Agent Orange: Dow’s involvement in producing napalm during the Vietnam War and Agent Orange, a defoliant containing harmful dioxins, brought immense scrutiny. This culminated in a class-action lawsuit in 1984, where Dow, alongside others, established a fund for victims exposed to these toxic substances.
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Silicone Breast Implants: In the 1990s, Dow Corning, a joint venture with Corning, declared bankruptcy amid a flurry of lawsuits regarding silicone breast implants, which were alleged to have caused health issues.
A New Era of Growth and Structural Changes
Emerging from its legal and financial tumult, Dow began a reformatory strategy that saw significant mergers and acquisitions. The 2009 acquisition of specialty chemical manufacturer Rohm & Haas marked a strategic pivot, while the 2015 merger with DuPont created DowDuPont, a $130 billion titan in the chemical sector.
This newfound collaboration, however, proved ephemeral. In 2019, DowDuPont was split into three independent entities:
- DuPont: Focused on specialty products, including advanced materials and technologies.
- Corteva Agriscience: Handling the agricultural chemicals division.
- Dow, Inc.: Concentrating on materials including lubricants, plastics, and various specialty chemicals.
Current Operations and Global Presence
Today, Dow, Inc. stands as a formidable entity in the materials sector, employing tens of thousands across 31 countries. While its scale has been resized since the split, with a market capitalization now at approximately $34 billion, Dow continues to innovate and supply a diverse range of products. Its offerings include artificial turf, specialized coatings, and materials vital to the automotive and pharmaceutical industries.
The company remains a key player in addressing modern challenges—balancing the demands for sustainable development while delivering high-quality products to meet consumer and industrial needs.