Advertisements

Hempel to announce global price increase

Leading coatings manufacturer Hempel will increase sales prices of products and solutions as raw material prices continue to escalate.

The cost of key raw materials used in the manufacturing of coatings is now significantly higher compared to the beginning of 2020, and the trend is continuing.

For example, from January 2020 to January 2021, the cost of epoxy increased by 60 per cent in Europe, 40 per cent in North America and 20 per cent in North Asia (source: Technon Orbichem Epoxide Resins; Liquid Spot). In the same period, the price of zinc increased more than 16 per cent globally, while copper prices rose more than 30 per cent (source: London Metal Exchange).

“We’re witnessing an ongoing rise in prices for key raw materials due to increased global demand for feedstock as well as logistic challenges. This has a heavy impact on global supply and contributes to higher prices,” says Michael Hansen, Executive Vice President & Chief Commercial Officer at Hempel.

He continues: “We have made every effort to control and absorb the increases over the last 12 months. It is no longer possible for us to fully absorb the effects as raw material prices continue to rise. We have no other option than to increase the prices of products and solutions. Our focus remains on delivering value to and serving our customers across the world.”

Source: Hempel

YOUR SUPPORT IS CRITICAL TO KEEP PCE ALIVE

$3.00

Note to readers:

  • Please follow us on LinkedIn ,Twitter and YouTube and subscribe to our website and receive notifications of new posts by email.
  • Please click the share buttons below and make a comment.

VIDEO CENTER

Explore further

Explore further

Explore further

Explore further

Explore further

Advertisements

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

SUBSCRIBE TO OUR NEWSLETTER

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

Paints and Coatings Expert will use the information you provide on this form to be in touch with you and to provide updates and marketing.
%d bloggers like this: