The price of resins is once again on the rise, Reichhold and AOC recently announced.
Reichhold Inc. announced a price increase of 6 cents a pound on all unsaturated polyester and vinyl ester resins sold in North America for the composites industry.
This increase is effective for all orders shipped on or after March 7.
"Raw material prices and freight rates continue to escalate beyond our ability to absorb these additional costs, and a price increase is necessary," said Al Naser, Reichhold commercial vice president of composites North America, in a statement. "Global supply and demand, certain feedstock restrictions and the price spread between crude oil and natural gas have all combined to drive up the prices of our key raw materials."
AOC LLC will increase prices on all polyester resin, gelcoat, pigments and additive products by 6 cents a pound in the United States and 13 cents (Canadian) a kilo in Canada.
Both increases are effective for shipments on and after March 7.
"Feedstocks such as butane, propylene, and BTX (benzene/toluene/xylene) used to make key raw materials for unsaturated polyester and vinylester resins continue to increase - compounding raw material increases due to supply shortages and tightness," the company said in a statement.
AOC also announced price increases in Europe, Asia, India and the Middle East.