MUNICH, Germany—Wacker Chemie A.G. will raise the cost of its polymeric binders and resins up to 20 percent, a function of "continuously rising energy, raw material and logistics costs."
The price hike for Wacker's dispersions, dispersible polymer powders and resins takes effect Nov. 1. A temporary surcharge for powders in Europe also will be enacted at $685 per metric ton.
"The price adjustment will enable the group's polymers division to continue providing customers with high product quality, technological innovations, best-in-class customer service and technical support, along with supporting investment to secure the capability for future growth across focus markets," Wacker stated in an Oct. 18 press release.
Wacker polymers are used in construction chemicals, paints and surface coatings, adhesives, sealants, carpet applications and non-wovens, as well as in fiber composites and polymeric materials based on renewable resources.
The company, which maintains segments in silicone, biosolutions and polysilicon (outside of polymers) employs 14,300 and posted annual sales of about $5.5 billion in 2020.