Formosa Plastics manufactures and sells plastic raw materials, chemical fibers, and petrochemical products in Taiwan, Mainland China, and internationally, operating through five segments: Plastic, Polyolefin, Polypropylene, Tairylan, and Chemical. The company's total PVC resin capacity is 2.83 million metric tons per year, the second highest in the world after Shin-Etsu Chemical. The firm leverages vertical integration and maintains substantial manufacturing infrastructure in Taiwan and the United States.
Cyborg Score Rationale
Formosa Plastics is a major global player in plastics with strong market position and diversified product portfolio, but faces significant challenges including environmental compliance issues, governance concerns, and recent profitability headwinds. The company's strong market position is tempered by operational and reputational risks.
Top Insights
Revenue of $6.2B in 2024 with minimal growth of 0.5% versus 2023, and net income declined significantly by 116.8%.
Market-leading PVC resin manufacturing position globally as flagship of Formosa Plastics Group.
The company agreed to pay $50 million in 2019 to settle Clean Water Act violations related to plastic pellet discharge.
ISS Governance QualityScore of 10 as of February 2026, with concerning shareholder rights score of 5 and compensation score of 2.
Named Competitors
Shin-Etsu Chemical — Leading PVC resin manufacturer with largest global capacity
Nan Ya Plastics — Group subsidiary engaged in plastics manufacturing
Formosa Chemicals & Fibre — Group subsidiary in chemicals and synthetic fibers
Recent Developments
(February 2026) ISS Governance QualityScore published reflecting governance risk assessment
(2024) Group received Ministry of Environment award for Outstanding Performance in Resource Circulation
(2024) Revenue flat year-over-year at $6.2B with significant profitability decline
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