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Armacell has announced a global price increase of 5% for its entire PET foam product portfolio from 1 February 2018.
The company says this is a result of increases in the costs of key raw materials, as well as rising energy costs at the group’s PET foam manufacturing facilities in Belgium and Canada.
“During the past year, price increases in the commodity market have led to a significant rise in our raw material costs,” reports Thomas Kessel, Managing Director PET Foams. “We have had to cope with a 20% price increase for one of the key additives in our ArmaFORM formula. Our basic feedstocks, MEG and PX, have risen by 5% in recent months.”
Image provided by Armacell
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