FAIRLAWN, Ohio—Omnova Solutions Inc.'s Performance Materials business plans to hike prices of four emulsion polymers used in the North American paper, packaging and carpet markets.
Styrene-butadiene latex-based emulsions will be increased up to 10 cents per wet pound and polyvinyl acetate homopolymer, vinyl acetate and vinyl acrylic emulsions will be boosted by up to 7 cents a wet pound .
The increases are effective April 14 and are in addition to all previously announced price material hikes.
Omnova said the action was necessitated by a global supply shortage of vinyl acetate monomer and the continuing escalation of prices for other key raw materials.
In addition, the firm plans to raise prices of its hollow plastic pigment, including Lytron-based HG80 latex, by up to 5 cents per wet pound, also effective April 14. Omnova said the rising cost of raw materials is to blame, and this is in addition to all previously announced increases.