Raw Material Prices Continue to Rise

Date: 12/01/2022

The latest report from the British Coatings Federation shows a new price inflation of raw materials.

After the September report, new statistics published by the British Coatings Federation show that the raw material price inflation continues.

Compared with a year ago, solvent prices were up 78% in the last 3 months to the end of November, with resins and related materials 39% higher.

For some solvents, prices were 200% to 300% higher - for example, N-Butyl Acetate prices at £3,850 per tonne were 310% higher than a year ago. Other big increases of about 200% were also reported for MIBK and N-Butanol while Methoxy Propyl Acetate prices were up 139%.

For resins and related materials, Solution Epoxy Resin prices were more than double the levels of a year ago with further sharp increases also being seen for Desmodur, Cobalt Drier and Urethane Alkyd Unithane.

Elsewhere, pigment prices remained high with Pigment Black prices up 38% for example. Titanium Dioxide prices were unchanged on the previous month but at £2,600 per tonne were still 19% higher than a year ago.

For extenders, Talc AT1 type and Snowcal 60 again increased but China Clay Speswhite prices fell from recent highs.

Packaging prices are up 19% but with more recent months showing evidence of slightly lower prices for some items such as 750 ml lever-lid metal cans, 5 litre oblong cans and 5 litre round tins.

“Compared with a year ago, virtually all the packaging items in our basket have shown double figure price increases with 205 litre drums up 48% on November 2020 and with 25 litre drums 25% to 28% higher. Prices for smaller pack sizes are in the region of 15% higher than a year ago”, reports BCF.

“Looking to the future, reliable forecasts are hard to come by but with most major forecasting bodies expecting oil prices to remain above of $70 per barrel for 2022 the indications are that higher costs are here for the foreseeable future”, concluded the British Coatings Federation.