BASF Increases Coating Additives Prices

TUESDAY, JANUARY 4, 2022


Chemicals company BASF recently announced that it is increasing prices for its paint and coatings additives globally, with increases of up to 35%. The new pricing went into effect Dec. 1.

According to the company, the increases are needed to compensate for surging raw material, transportation and energy costs. It also includes factors of other rising costs, including labor, packaging and maintenance.

“The increases are necessary to continue to support our customers with high-level products and services,” wrote BASF in its release.

Affected BASF additive grades include:

  • Attagel;
  • Dispex;
  • Efka;
  • Foamaster;
  • FoamStar;
  • Hydropalat;
  • Irgafos;
  • Irganox;
  • Loxanol;
  • Rheovis;
  • Sterocoll;
  • Tinuvin; and
  • Uvinul.

Other Price Increases

In November, performance additives and chemicals company SI Group announced that it had increased the prices of its rubber and adhesive additives by 25%, also citing market impacts on the costs of materials, transportation and operations.

The price increase was announced on Nov. 15 and took effect immediately, or as contracts allowed.

According to SI Group, the new pricing will ensure ongoing and future investments for the company to deliver proven additive solutions to customers while safeguarding global security of supply.

SI Group added that its sales representatives will continue to communicate new pricing information with existing customers for all affected products.

Munich-based Wacker Group announced that it increased prices up to 20% for its polymer and resin products that same month. The change went into effect Nov. 1, due to “continuously rising energy, raw material and logistics costs.”

The temporary surcharge for the company’s dispersible polymers in Europe also increased to 590 euros ($681.54) per metric ton.

The industry as a whole continues to see price increases on raw materials. The British Coatings Federation issued a statement in November, citing raw materials account for about 50% of all costs in the industry. Increases in energy and oil prices also reportedly more than doubled in the last 12 months, upping production costs.

The impact, BCF said, is “obviously very severe” with resins and related materials seeing a 36% price hike. For example, the average price for Solution Epoxy Resin is reportedly up 124% in September from this time last year.

   

Tagged categories: Additives; Asia Pacific; BASF; Business management; Business matters; Business operations; Coating Materials - Commercial; Coatings; Economy; EMEA (Europe, Middle East and Africa); Latin America; Market; North America; Paint; Program/Project Management; Z-Continents

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