Munich — Wacker Chemie AG, specifically its silicones division, will raise the price of its entire spectrum of silicone products between 10 and 20 percent due to the raw material cost volatility currently being experienced by the market.
The price hikes will take effect April 1, and additional volume requests outside of agreed upon ranges also will be subject to the price hike, Wacker said in a March 10 press release.
"The measure has been necessitated by the increase in strategic raw material costs, rising costs for support and packaging materials and multiple (coronavirus) pandemic measures in order to improve the service of Wacker Silicones," the company said.
Silicone fluids, emulsions, rubber and resins, as well as silanes, silane-terminated polymers and pyrogenic silica will see cost increases.
"With this, Wacker Silicones will continue to strongly invest in innovation, support global asset development and strive to achieve high customer service levels," according to the company.