Packaging News
Plastics, inks and adhesives prices rise again
Prices for inks, adhesives and plastics are set to rise again following a series of new cost hike announcements.
Ink manufacturer Sun Chemical, polymer supplier Ineos Nova and adhesives group Henkel have all put out statements in the last two days on their latest increases.
Following the precedent of other materials suppliers to announce price rises in recent months, the companies blamed incessant increases in raw material costs for their moves.
Sun Chemical said that it would increase prices for its liquid ink packaging products in Europe by 8% to 12% from 1 April 2011.
Henkel announced immediate rises of between 10% and 25% for a range of industrial adhesives including hotmelts, polyurethane, water-based adhesives and surface treatment products.
Ineos Styrenics, meanwhile, hiked prices on expandable polystyrene (EPS) by €100/tonne and on polystyrene (PS) by €50/tonne as of 1 March.
Sun Chemical chief marketing officer Felipe Mellado said: “The unprecedented volatility in the supply of raw materials is challenging the entire industry.
“Sun Chemical continues to work hard to offset some of the raw material cost increases, but with shortages continuing and in some cases deteriorating, this move has become unavoidable.”
‘Demand spikes’
In its statement, Henkel said: “The price increase is attributable to ongoing escalation of raw material costs over the last 15 months, especially affecting oil and natural gas based products.
“Continual spikes in global demand, coupled with capacity constraints in primary chemical, rosin, and resin feed stocks, have further tightened supply, have driven raw material prices upward.”
Ineos, meanwhile, said: “Expandable Polystyrene margins have deteriorated to an extent that is no longer sustainable.
“The rising costs of raw materials can no longer be absorbed, particularly during a period of higher seasonal demand.”
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