Facing unprecedented increases in the cost of energy, transportation and raw materials, Symrise´s Scent & Care division recently announced price increases for its products with immediate effect. In selective areas, prices will increase by up to and over 10%.
He said: “The Scent & Care division has been particularly hit by the increases in petrochemical raw materials, energy and transportation,” and added: “We have been able to compensate some of it through efficiency improvements, and the dollar rate helped to a certain extent. But as the trajectory shows no sign of changing, we now have to pass some of the increases on to the market.”
Wacker is raising its prices for silicone products worldwide by generally up to 10% from 1 October.
The reason given is the continued increase costs of raw materials, energy and logistics. Dr Christoph von Plotho, president of Wacker’s silicones division, said: “We’ve certainly been trying to absorb these additional costs by boosting our efficiency and productivity,” and continued: “However, energy and key raw material prices have meanwhile risen so high that we simply can no longer compensate for additional costs this way.”
Depending on the product family and business field, prices will generally rise by up to 10% but, in certain market segments, prices will increase even more, Wacker states.
