TOKYO—Shin-Etsu Chemical Co. is raising the prices of all of its silicone products globally.
The price increase of 10 to 20 percent—in some cases more than 20 percent—will begin in October, according to an Aug. 24 statement.
The price hike follows a similar increase in March, which at the time was linked to a rise in the prices of raw materials and logistics costs.
Since then, silicon metal, the main raw material of silicones, has faced a tightening of supply and demand and a continuing sharp price rise, Shin-Etsu said.
The company said shipping and raw material costs are "greatly rising," making the price hike was unavoidable despite its efforts to reduce manufacturing costs and absorb the increased costs.