Subsidiaries of Dow Inc.		EXHIBIT 21
							At December 31, 2020
									Location*
This list includes companies for which the effective ownership by Dow Inc. is 50 percent or more.
Dow Inc.									Delaware
	The Dow Chemical Company								Delaware
		American Mortell Corporation							Texas
			Mortell Company						Delaware
		Arabian Chemical Company (Latex) Ltd. (1)							Saudi Arabia
		Arabian Chemical Company (Polystyrene) Limited (1)							Saudi Arabia
		Battleground Water Company							Texas
		Chemars III LLC							Delaware
		Chemtech II L.P.							Delaware
		DCOMCO, Inc.							Delaware
		Dow Chemical (China) Investment Company Limited							China
			Dow Chemical (Guangzhou) Company Limited						China
			Dow Chemical (Shanghai) Company Limited						China
			Dow Chemical (Sichuan) Co., Ltd.						China
			Dow Chemical (Zhangjiagang) Company Limited						China
			Zhejiang Pacific Chemical Corporation						China
		Dow Chemical China Holdings Pte. Ltd.							Singapore
		Dow Chemical Costa Rica S.A.							Costa Rica
		Dow Chemical Delaware Corp.							Delaware
			Chemtech II L.P.						Delaware
				Chemtech Portfolio Inc.					Texas
				Chemtech Portfolio II Inc.					Michigan
		Dow Chemical International Ltd.							Delaware
			Dow Chemical Costa Rica S.A.						Costa Rica
			Dow Chemical Thailand Ltd.						Thailand
				MTP HPPO Manufacturing Company Limited					Thailand
			Dow International Holdings Company						Delaware
			Petroquimica-Dow S.A. (Petrodow)						Chile
			Univation Technologies, LLC						Delaware
				Univation Technologies (Hong Kong) Limited					Hong Kong
					Univation (Zhangjiagang) Chemical Company Limited				China
				Univation Technologies International, LLC					Delaware
		Dow Chemical Kuwait B.V.							Netherlands
		Dow Chemical Singapore Holdings Pte. Ltd.							Singapore
		Dow Chemical Telecommunications Corp.							Delaware
		Dow Deutschland Inc.							Delaware
			Dow Chemical Inter-American Limited						Delaware
				Dow Quimica de Colombia S.A.					Colombia
		Dow Engineering Company							Delaware
			Dow Engineering, Inc.						Michigan
		Dow Financial Services Inc.							Delaware
		Dow Global Financial Management, Inc.							Delaware
		Dow Global Technologies LLC							Delaware
			Chemtech Portfolio Inc.						Texas
			Dow Technology Investments LLC						Delaware
		Dow Hydrocarbons and Resources LLC							Delaware
			Cayuse Pipeline, Inc.						Texas
			Dow Intrastate Gas Company						Louisiana
			Dow Pipeline Company						Texas
			Fort Saskatchewan Ethylene Storage Corporation (1)						Canada
				Fort Saskatchewan Ethylene Storage Limited Partnership					Canada
			K/D/S Promix, LLC (1)						Texas
		Dow International Holdings Company							Delaware
			Dow Luxembourg Spectrum Holding S.a.r.l.						Luxembourg
				3308597 Nova Scotia Company					Canada
				Dow Luxembourg Galaxy Holding S.a.r.l.					Luxembourg
					Dow Switzerland Holding GmbH				Switzerland
						DC Fin. (Singapore) Pte. Ltd.			Singapore
						Dow (Shanghai) Holding Co., Ltd.			China
						Dow International Holdings S.A.			Switzerland
							Dow Europe Holding B.V.		Netherlands
								BASF DOW HPPO B.V. (1)	Netherlands
								BASF DOW HPPO Technology B.V. (1)	Netherlands
								Dow Austria Gesellschaft m.b.H.	Austria
								Dow Belgium B.V.B.A.	Belgium

211

	Subsidiaries of Dow Inc.				EXHIBIT 21
	At December 31, 2020
					Location*
This list includes companies for which the effective ownership by Dow Inc. is 50 percent or more.
		Dow Benelux B.V.			Netherlands
			Polyol Belgium B.V.B.A.		Belgium
			Terneuzen Partnership Services B.V.		Netherlands
				Valuepark Terneuzen C.V. (1)	Netherlands
			Valuepark Terneuzen Beheer B.V. (1)		Netherlands
				Valuepark Terneuzen C.V. (1)	Netherlands
		Dow Benelux Integrated Center B.V.			Netherlands
		Dow Chemical Company Limited			United Kingdom
			Dow Chemical Services UK Limited		United Kingdom
			Dow Limited		United Kingdom
			Dow Services Trustees UK Limited		United Kingdom
			Hyperlast Limited		United Kingdom
			Dow UK Limited		United Kingdom
		Dow Chemical East Africa Limited			Kenya
		Dow Chemical Iberica S.L.			Spain
			Terminal de Atraque de Productos Petroquimicos, A.I.E. (1)		Spain
			Transformadora de Etileno A.I.E. (1)		Spain
		Dow Chemical Korea Limited			Korea
		Dow Chemical OOO			Russia
		Dow Chemical Romania S.R.L.			Romania
		Dow Chemical West Africa Limited			Ghana
		Dow Corning de Argentina S.R.L.			Argentina
		Dow Danmark A/S			Denmark
		Dow Europe GmbH			Switzerland
			Dow Chemical IMEA GmbH		Switzerland
			Dow Egypt Services Limited		Egypt
			Dow International Finance S.a.r.l.		Luxembourg
			Dow Mideast Systems S.A.E. (JSC)		Egypt
			Dow Netherlands Tulip Holding B.V.		Netherlands
		Dow Hellas Single-Member AVEE			Greece
		Dow Hungary Kft.			Hungary
		Dow Industrial Chemical Products Nigeria Limited			Nigeria
		Dow InterBranch B.V.			Netherlands
			Dow Chemical East Africa Limited		Kenya
			Dow Industrial Chemical Products Nigeria Limited		Nigeria
			Dow Material Sciences Ltd.		Israel
			Dow Materials Science Saudi Arabia Limited		Saudi Arabia
			Dow Mideast Systems S.A.E. (JSC)		Egypt
			Dow Morocco SARL		Morocco
			Dow Norge A/S		Norway
			Dow Quimica de Colombia S.A.		Colombia
			Dow Silicones Belgium SPRL		Belgium
			PT Rohm and Haas Indonesia		Indonesia
			Rohm and Haas International SNC		France
			Rohm and Haas Latinoamerica, S. de R.L. de C.V.		Mexico
			Rohm and Haas Mexico, S. de R.L. de C.V.		Mexico
		Dow Italia s.r.l.			Italy
			Dow Italia Divisione Commerciale s.r.l.		Italy
			Rohm and Haas Italia S.r.l.		Italy
		Dow Material Sciences Ltd.			Israel
		Dow Mideast Systems S.A.E. (JSC)			Egypt
			Dow Egypt Services Limited		Egypt
		Dow Morocco SARL			Morocco
		Dow Olefinverbund GmbH			Germany
			Dow Deutschland Anlagengesellschaft mbH		Germany
			Dow Deutschland Verwaltungs Vertriebs GmbH		Germany
				Dow Produktions und Vertriebs GmbH & Co. OHG	Germany
				Dow Stade Produktions GmbH & Co. OHG	Germany
			Dow MF Verwaltungs GmbH		Germany
				Dow Produktions und Vertriebs GmbH & Co. OHG	Germany
				Dow Stade Produktions GmbH & Co. OHG	Germany
			Dow Pipeline Gesellschaft mbH & Co. KG		Germany
			Dow Pipeline Verwaltungsgesellschaft mbH		Germany
			Dow Silicones Deutschland GmbH		Germany
			Dow Verwaltungsgesellschaft mbH		Germany
			Industrienetzgesellschaft Schkopau mbH		Germany
			ROH Venture GmbH		Germany

212

					Subsidiaries of Dow Inc.				EXHIBIT 21
					At December 31, 2020
									Location*
This list includes companies for which the effective ownership by Dow Inc. is 50 percent or more.
						Dow Performance Materials (Australia) Pty Ltd			Australia
						Dow Polska Sp.z.o.o.			Poland
						Dow Portugal - Produtos Quimicos, Sociedade Unipessoal, Lda.			Portugal
						Dow Saudi Arabia Holding B.V.			Netherlands
						Dow Saudi Arabia Investment B.V.			Netherlands
							Dow Materials Science Saudi Arabia Limited		Saudi Arabia
						Dow Silicones Australia Pty Ltd			Australia
							Dow Corning (Thailand) Limited		Thailand
						Dow Silicones Belgium SPRL			Belgium
						Dow Silicones UK Limited			United Kingdom
						Dow Southern Africa (Pty) Ltd			South Africa
						Dow Starfish Holding B.V.			Netherlands
						Dow Suomi OY			Finland
						Dow Sverige AB			Sweden
						Dow Turkiye Kimya Sanayi ve Ticaret Limited Sirketi			Turkey
							Rohm and Haas Kimya Sanayi Limited Sirketi		Turkey
						DowAksa Advanced Composites Holdings B.V. (1)			Netherlands
						EQUATE Marketing Company E.C. (1)			Bahrain
						Finndisp Ltd.			Russia
						HPPO Holding & Finance C.V. (1)			Netherlands
						MTP HPJV C.V.			Netherlands
						MTP HPJV Management B.V.			Netherlands
						Palmyra do Brasil Indústria e Comércio de Silício Metálico e Recursos Naturais Ltda.			Brazil
						Polyol Belgium B.V.B.A.			Belgium
						Rohm and Haas (UK) Limited			United Kingdom
						Rohm and Haas Denmark Holding Company ApS			Denmark
							Rohm and Haas Espana Production Holding, S.L.		Spain
								Rohm and Haas Espana, S.L.	Spain
							Rohm and Haas Europe Services ApS		Denmark
							Rohm and Haas Europe Trading ApS		Denmark
							Rohm and Haas Kimyasal Urunler Uretim Dagitim ve Ticaret A.S.		Turkey
						Rohm and Haas International SNC			France
							Dow France S.A.S.		France
						Rohm and Haas Nederland B.V.			Netherlands
						RUS Polyurethanes Holding B.V.			Netherlands
							Dow Izolan OOO		Russia
							Dow Izolan Ukraine LLC		Ukraine
				Dow Silicones (Shanghai) Co., Ltd.					China
				Dow Silicones Holding Japan G.K.					Japan
					Dow Toray Co., Ltd.				Japan
						Site Services Japan, Co., Ltd.			Japan
				Dow Silicones Netherlands Holding B.V.					Netherlands
					Dow Chemical Silicones Korea Ltd.				Korea
				Dow Silicones Pte. Ltd.					Singapore
					Dow Corning (Thailand) Limited				Thailand
				Dow Siloxane (Zhangjiagang) Holding Co. Private Ltd.					Singapore
					Dow Siloxanes (Zhangjiagang) Co., Ltd.				China
	DowBrands Inc.								Delaware
	Rohm and Haas Company								Delaware
		Dow Chemical Philippines, Inc.							Philippines
		Dow Japan Holdings K.K.							Japan
			Dow Chemical Japan Limited						Japan
				Japan Acrylic Chemical Co., Ltd.					Japan
		ROH Holdings 1, LLC							Delaware
			Rohm and Haas Equity Corporation						Delaware
				Dow Luxembourg Spectrum Holding S.a.r.l.					Luxembourg
				ROH Holdings 2, LLC					Delaware
					Rohm and Haas Chemicals LLC				Delaware
						Morton International, LLC			Indiana
				Rohm and Haas (Far East) Limited					Hong Kong
				Rohm and Haas Chemical (Thailand) Limited					Thailand
				Rohm and Haas China, Inc.					Delaware
					Beijing Eastern Rohm and Haas Company Limited				China
					Rohm and Haas International Trading (Shanghai) Co. Ltd.				China
					Shanghai Eastern Rohm and Haas Co., Ltd.				China
				Rohm and Haas Denmark Finance A/S					Denmark
					Dow Chemical International Private Limited				India

213

						Subsidiaries of Dow Inc.			EXHIBIT 21
						At December 31, 2020
									Location*
This list includes companies for which the effective ownership by Dow Inc. is 50 percent or more.
						PT Rohm and Haas Indonesia			Indonesia
						RH DK Vietnam Holdings ApS			Denmark
							Rohm and Haas Vietnam Co., Ltd.		Vietnam
						Rohm and Haas (China) Holding Co., Ltd.			China
						Rohm and Haas (Foshan) Specialty Materials Co., Ltd.			China
						Rohm and Haas Chemicals Singapore Pte. Ltd.			Singapore
						Rohm and Haas Denmark China Investment ApS			Denmark
						Rohm and Haas Latinoamerica, S. de R.L. de C.V.			Mexico
						Rohm and Haas Singapore (Pte.) Ltd.			Singapore
					Rohm and Haas Korea Co., Ltd.				Korea
					Rohm and Haas Malaysia Sdn Bhd				Malaysia
					Rohm and Haas Texas Incorporated				Texas
						Battleground Water Company			Texas
			Rohm and Haas Equity Corporation						Delaware
			Rohm and Haas New Zealand Limited						New Zealand
			Rohm and Haas Quimica Ltda.						Brazil
	Dow International Technology Corporation								Delaware
	Dow Netherlands Tulip Holding B.V.								Netherlands
		Dow Brasil Industria e Comercio de Produtos Quimicos Ltda.							Brazil
		Dow Chemical Pacific (Singapore) Private Limited							Singapore
			Dow Chemical (Malaysia) Sdn. Bhd.						Malaysia
			Dow Chemical (Myanmar) Limited						Myanmar
			Dow Chemical Bangladesh Private Limited						Bangladesh
			Dow Chemical International Private Limited						India
			Dow Chemical Pacific Limited						Hong Kong
			Dow Chemical Vietnam Limited Liability Company						Vietnam
			PT Dow Indonesia						Indonesia
			Voltas Water Solutions Private Limited (1)						India
		Rohm and Haas Canada Investments Limited							Canada
			3229809 Nova Scotia Company						Canada
				Dow Investment Argentina S.R.L.					Argentina
					PBBPolisur S.R.L.				Argentina
				Dow Quimica de Colombia S.A.					Colombia
				PBBPolisur S.R.L.					Argentina
				Rohm and Haas Canada LP					Canada
			Dow Investment Argentina S.R.L.						Argentina
			Rohm and Haas Canada LP						Canada
				Dow Chemical Canada ULC					Canada
					3308597 Nova Scotia Company				Canada
						3294027 Nova Scotia Limited			Canada
						Dow Brasil Industria e Comercio de Produtos Quimicos Ltda.			Brazil
							Dow Brasil Sudeste Industrial Ltda.		Brazil
								Rohm and Haas Quimica Ltda.	Brazil
					Dow Corning de Argentina S.R.L.				Argentina
					Dow Quimica de Colombia S.A.				Colombia
					Fort Saskatchewan Ethylene Storage Limited Partnership				Canada
					Palmyra do Brasil Indústria e Comércio de Silício Metálico e Recursos Naturais Ltda.				Brazil
					Pétromont and Company, Limited Partnership (1)				Canada
					Pétromont Inc. (1)				Canada
			Siam Polyethylene Company Limited (1)						Thailand
		Sentrachem Limited							South Africa
	Dow Olefinverbund GmbH								Germany
	Dow Peru S.A.								Peru
	Dow Quimica de Colombia S.A.								Colombia
	Dow Quimica Mexicana S.A. de C.V.								Mexico
	Dow Roofing Systems LLC								Delaware
	Dow Silicones Corporation								Michigan
		DC Alabama, Inc.							Delaware
		DCC Litigation Facility, Inc.							Delaware
		Devonshire Underwriters Ltd.							District of Columbia
		Dow (Shanghai) Management Co., Ltd.							China
		Dow (Zhangjiagang) Holding Co., Ltd.							China
		Dow Chemical International Private Limited							India
		Dow Corning (Thailand) Limited							Thailand
		Dow Luxembourg Spectrum Holding S.a.r.l.							Luxembourg
		Dow Netherlands Tulip Holding B.V.							Netherlands
		Dow Silicones (Zhangjiagang) Co., Ltd.							China

214

						Subsidiaries of Dow Inc.	EXHIBIT 21
						At December 31, 2020
							Location*
This list includes companies for which the effective ownership by Dow Inc. is 50 percent or more.
		Dow Silicones Deutschland GmbH					Germany
		Valley Asset Leasing, LLC					Delaware
		Warbler I LLC					Delaware
	Dow South Africa Holdings (Pty) Ltd.						South Africa
		Sentrachem Limited					South Africa
			Cisvaal (Proprietary) Limited				South Africa
	DowBrands Inc.						Delaware
	DuPont Asia Pacific Limited						Delaware
		DuPont (Taiwan) Electronic Materials Limited					Taiwan
		DuPont Performance Materials (Shanghai) Co., Ltd.					China
		Materials Science (India) Private Limited					India
		Performance Material Products Korea Ltd.					Korea
		Performance Materials (Australia) Pty Ltd					Australia
		Performance Materials (Thailand) Limited					Thailand
		Performance Materials Japan Kabushiki Kaisha					Delaware
			Dow-Mitsui Polychemicals Company, Ltd (1)				Japan
			PM International Holding 3 B.V.				Netherlands
				Performance Materials do Brasil Comercio de Plasticos e Polimeros Ltda.			Brazil
				SP International Holding 5 B.V.			Netherlands
					Performance Materials do Brasil Comercio de Plasticos e Polimeros Ltda.		Brazil
		Performance Specialty Products (Hong Kong) Limited					Hong Kong
		PM EMEA Holding 2 B.V.					Netherlands
			PM EMEA Holding 3 B.V.				Netherlands
		PM EMEA Holding 3 B.V.					Netherlands
			Performance Materials Rus LLC				Russia
		PM International 1 B.V.					Netherlands
			Performance Materials Products (Singapore) Pte. Ltd.				Singapore
			Performance Materials (Thailand) Limited				Thailand
		PM Japan, Inc.					Delaware
		PM LATAM, Inc.					Delaware
			Performance Materials Argentina SAU				Argentina
			Performance Materials Colombia S.A.S.				Colombia
	Essex Chemical Corporation						New Jersey
	Flexible Products Company						Georgia
	Forbanco Inc.						Delaware
	General Latex and Chemical Corporation						Massachusetts
	GNS Enterprises, LLC						Georgia
	GWN Holding, LLC						Delaware
		Dow Saudi Arabia Product Marketing B.V.					Netherlands
	Ifco Inc.						Delaware
		Chemtech II L.P.					Delaware
	Liana Limited						Delaware
		Dorinco Reinsurance Company					Michigan
		Dorintal Reinsurance Limited					Vermont
	Materials Science Holding, LLC						Delaware
		Rohm and Haas International Holdings Inc.					Delaware
			Dow Chemical Singapore Holdings Pte. Ltd.				Singapore
				Dow Chemical (Australia) Pty Ltd			Australia
				Dow Chemical (Myanmar) Limited			Myanmar
				Dow Chemical (NZ) Limited			New Zealand
				Dow Chemical Bangladesh Private Limited			Bangladesh
				Dow Chemical International Private Limited			India
				Dow Chemical Korea Limited			Korea
				PT Dow Indonesia			Indonesia
				Terneuzen Investments Holding B.V.			Netherlands
					Dow Chemical Taiwan Limited		Taiwan
					Rohm and Haas Taiwan, Inc.		Taiwan
	NuvoSun, Inc.						California
	Performance Materials NA, Inc.						Delaware
	Performance Science Materials Company						Canada
	PM EMEA Holding 1 B.V.						Netherlands
		Performance Materials Netherlands B.V.					Netherlands
			Dow Chemical Pakistan (Private) Limited				Pakistan
			DuPont Performance Materials Deutschland GmbH				Germany
			DuPont Performance Materials Proprietary Limited				South Africa
			E&C EMEA Holding 1 B.V.				Netherlands
				DuPont Performance Materials International Sarl			Switzerland

215

					Subsidiaries of Dow Inc.	EXHIBIT 21
					At December 31, 2020
						Location*
This list includes companies for which the effective ownership by Dow Inc. is 50 percent or more.
			Material Science de Mexico DDM, S. de R.L. de C.V.			Mexico
			Materials Science (India) Private Limited			India
			Performance Materials (Thailand) Limited			Thailand
			Performance Materials Belgium BVBA			Belgium
				PM EMEA Cooperatief U.A.		Netherlands
			Performance Materials Bulgaria EOOD			Bulgaria
			Performance Materials Czech Republic s.r.o.			Czech Republic
			Performance Materials Finland Oy			Finland
			Performance Materials France SAS			France
			Performance Materials Iberica, S.L.			Spain
			Performance Materials Italy srl			Italy
			Performance Materials Poland Sp. z o.o.			Poland
			Performance Materials Ukraine LLC			Ukraine
			PM EMEA Cooperatief U.A.			Netherlands
				DuPont Performance Materials UK Limited		United Kingdom
				Performance Materials Belgium BVBA		Belgium
		Performance Materials Ukraine LLC				Ukraine
		PM EMEA Holding 4 B.V.				Netherlands
			Performance Materials Turkey Endustri Urunleri Limited Sirketi			Turkey
	PM Mexico, LLC					Delaware
		Material Science de Mexico DDM, S. de R.L. de C.V.				Mexico
			Material Science Servicos de Mexico DDM, S. de R.L. de C.V.			Mexico
		Material Science Servicos de Mexico DDM, S. de R.L. de C.V.				Mexico
	POLY-CARB, Inc.					Ohio
	Rofan Services LLC					Delaware
		H Hotel Holding LLC				Delaware
			MVCC Limited Partnership			Delaware
		MVCC Limited Partnership				Delaware
	Rohm and Haas Mexico, S. de R.L. de C.V.					Mexico
	Sentrachem US, Inc.					Delaware
		Hampshire Holdings, Inc.				Delaware
			Hampshire Chemical Corp.			Delaware
	Siam Polystyrene Company Limited (1)					Thailand
	Siam Styrene Monomer Company Limited (1)					Thailand
	Siam Synthetic Latex Company Limited (1)					Thailand
	Terra Two Taiwan Limited					Taiwan
	Tianjin Panda Terminal Holdings Pte. Ltd.					Singapore
	Union Carbide Corporation					New York
		Amerchol Corporation				Delaware
		Calidria Corporation				Delaware
		Carbide Chemical (Thailand) Limited				Thailand
		Dow International Holdings Company				Delaware
		Dow Quimica Mexicana S.A. de C.V.				Mexico
		Global Industrial Corporation				New York
		Peñuelas Technology Park LLC				Delaware
		Seadrift Pipeline Corporation				Delaware
		South Charleston Sewage Treatment Company				West Virginia
		UCAR Louisiana Pipeline Company				Delaware
		UCAR Pipeline Incorporated				Delaware
			Dow Peru S.A.			Peru
			UCAR Emulsion Systems FZE			United Arab Emirates
		Umetco Minerals Corporation				Delaware
			Predate Properties (Pty) Ltd.			South Africa
		Union Carbide Asia Pacific, Inc.				Delaware
		Union Carbide Chemicals & Plastics Technology LLC				Delaware
			Dow Technology Investments LLC			Delaware
		Union Carbide Customer Services Pte. Ltd.				Singapore
		Union Carbide Middle East Limited				Delaware
		Union Carbide Philippines (Far East), Inc.				Philippines
		Union Carbide South Africa (Proprietary) Limited				South Africa
		Westbridge Insurance Ltd.				Vermont

*    Location of incorporation or organization. Primary location of organization is reported for partnerships.

1.These companies are 50 percent owned, nonconsolidated affiliates of Dow Inc. and are accounted for using the equity method. Separate financial statements of these companies are not included in this Annual Report on Form 10-K. These companies are not controlled, directly or indirectly, by Dow Inc. Subsidiaries of these companies, if any, are not listed in this Exhibit 21.

216