The company said the decision follows a sharp escalation in costs, particularly for energy, key raw materials and logistics, driven by ongoing geopolitical tensions.
Specialty chemicals company LANXESS has recently announced an immediate increase in prices for its inorganic pigment products, with rises of up to 20%.
“Despite intensive efforts to mitigate cost increases and maintain stable prices, an adjustment is necessary to ensure the long-term reliability and sustainability of supplies,” has stated the company.
LANXESS confirmed that customers will be contacted individually to discuss how the price increases will apply to specific products and regions.