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2874 companies · fiscal year 2025 · SEC EDGAR · September 25, 2026

Materials companies that spend the most on R&D

Research and development expense is what the company charged to R&D in the income statement for the year. Most companies report no R&D at all — the line is absent rather than zero — so this ranking covers the roughly 40% of filers that do. Figures are for fiscal year 2025 and are read directly from each company's SEC filings; the source column on every row links to the document.

Ranks 1–89 of 89 · Fiscal year 2025 · Data as of September 25, 2026

Corning (GLW) tops the list with $800M in r&d expense for fiscal 2025, ahead of Dow ($752M) and International Flavors & Fragrances ($694M). The top 10 together report $5.3B in r&d expense; the gap between #1 and #10 is ×2.45. 89 companies in Materials report r&d expense, 7.0% of the 1270-filer universe. The last place on the list, Aemetis, comes in at $152,000.

R&D expense
#CompanyR&D expenseYoY15-year trend
1CorningGLWUS$800M0.0%
2DowDOWUS$752M−7.2%
3International Flavors & FragrancesIFFUS$694M+3.4%
4ValeVALEBR$693M−12.3%
5Rio TintoRIOGB$524M+31.7%
6PPG IndustriesPPGUS$446M−0.2%
7Goodyear Tire & RubberGTUS$380M−10.8%
8ArcelormittalMTLU$335M+17.5%
9EntegrisENTGUS$329M+4.1%
10Kimberly ClarkKMBUS$326M−0.6%
11FMCFMCUS$266M−4.3%
12Eastman ChemicalEMNUS$255M+2.0%
13DuPont de NemoursDDUS$193M−4.9%
14NewmontNEMUS$166M−15.7%
15Owens CorningOCUS$150M+14.5%
16LindeLINGB$147M−2.0%
17Avery DennisonAVYUS$137M−0.9%
18Lyondellbasell IndustriesLYBUS$136M+0.7%
19NewmarketNEUUS$132M+5.8%
20BeldenBDCUS$129M+14.6%
21CelaneseCEUS$125M−3.8%
22HuntsmanHUNUS$120M−0.8%
23Newell BrandsNWLUS$114M−7.3%
24ChemoursCCUS$108M−0.9%
25AptargroupATRUS$105M+9.4%
26RPM InternationalRPMUS$97.9M+3.4%
27Solstice Advanced MaterialsSOLSUS$97.0M+16.9%
28AvientAVNTUS$96.7M−2.0%
29Air Products & ChemicalsAPDUS$96.3M−3.9%
30Axalta Coating SystemsAXTAUS$71.0M−4.1%
31Icl GroupICLIL$70.0M+1.4%
32Element SolutionsESIUS$67.6M+7.3%
33TenarisTSLU$64.2M−13.5%
34James Hardie IndustriesJHXIE$60.7M+25.2%
35CabotCBTUS$59.0M−6.3%
36HexcelHXLUS$56.4M−1.2%
37Sensient TechnologiesSXTUS$52.9M+7.7%
38AlbemarleALBUS$51.4M−40.7%
39ConstelliumCSTMFR$51.0M+4.1%
40InnospecIOSPUS$51.0M−9.7%
41Reynolds Consumer ProductsREYNUS$48.0M+6.7%
42Carlisle CompaniesCSLUS$47.1M+33.1%
43O-I GlassOIUS$42.0M−47.5%
44Howmet AerospaceHWMUS$37.0M+12.1%
45Scotts Miracle-GroSMGUS$34.8M+0.6%
46IngevityNGVTUS$28.4M+15.9%
47RogersROGUS$28.1M−18.8%
48CamecoCCJCA$27.5M+3.2%
49OrionOECUS$27.5M+1.5%
50Carpenter TechnologyCRSUS$26.1M+2.0%
51Teck ResourcesTECKCA$25.1M−31.4%
52AlcoaAAUS$24.0M−57.9%
53Mativ HoldingsMATVUS$23.6M+2.6%
54American VanguardAVDUS$23.2M−29.1%
55Minerals TechnologiesMTXUS$22.9M−0.4%
56TerniumTXLU$21.8M−8.4%
57Sonoco ProductsSONUS$21.5M−6.5%
58AtiATIUS$21.3M+8.7%
59Fuller H BFULUS$21.2M−13.5%
60MagneraMAGNUS$20.0M+53.8%
61Graphic PackagingGPKUS$19.0M+11.8%
62BalchemBCPCUS$18.5M+10.2%
63Titan InternationalTWIUS$18.3M+10.9%
64ValhiVHIUS$17.0M+21.4%
65Centrus EnergyLEUUS$16.9M−1.7%
66Matthews InternationalMATWUS$16.7M+4.8%
67Armstrong World IndustriesAWIUS$16.4M+4.5%
68Kronos WorldwideKROUS$16.0M+14.3%
69Tronox HoldingsTROXUS$15.0M+7.1%
70Bioceres Crop SolutionsBIOXKY$14.9M−13.2%
71Packaging Corp of AmericaPKGUS$14.5M−6.5%
72EnproNPOUS$13.3M+22.0%
73Apogee EnterprisesAPOGUS$11.2M−61.4%
74Kaiser AluminumKALUUS$10.7M−10.8%
75AdvansixASIXUS$8.7M−1.1%
76WD 40WDFCUS$8.7M+8.8%
77Rayonier Advanced MaterialsRYAMUS$7.0M+40.0%
78EcovystECVTUS$6.8M−12.6%
79CSW IndustrialsCSWUS$5.8M+9.4%
80CaesarstoneCSTEIL$5.7M+14.6%
81DMC GlobalBOOMUS$5.0M−13.5%
82GevoGEVOUS$4.6M−18.4%
83Luxfer HoldingsLXFRGB$4.3M−2.3%
84Ranpak HoldingsPACKUS$4.1M−6.8%
85Flotek IndustriesFTKUS$1.8M+6.3%
86Gibraltar IndustriesROCKUS$1.7M−41.4%
87Core Molding TechnologiesCMTUS$1.4M−26.3%
88MetallusMTUSUS$800,000−52.9%
89AemetisAMTXUS$152,000−15.6%

All figures from SEC filings · FY2025 · 89

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{{cite web |title=Materials companies that spend the most on R&D |url=https://companiesranked.com/en/materials-companies-that-spend-the-most-on-research-and-development |website=CompaniesRanked |date=2026-09-25 |language=en}}

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CompaniesRanked. (September 25, 2026). Materials companies that spend the most on R&D. CompaniesRanked. https://companiesranked.com/en/materials-companies-that-spend-the-most-on-research-and-development

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@misc{companiesranked-en-materials-companies-that-spend-the-most-on-research-and-development-2026,
  author       = {{CompaniesRanked}},
  title        = {{Materials companies that spend the most on R\&D}},
  year         = {2026},
  howpublished = {\url{https://companiesranked.com/en/materials-companies-that-spend-the-most-on-research-and-development}},
  note         = {Compiled from SEC EDGAR XBRL filings; data as of 2026-09-25},
  urldate      = {2026-09-25}
}

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