Recently, paint prices are expected to rise on the lack of raw materials and environmental quality standards. The three giants in the global paint industry plan to raise their prices.
Axalta Coating: Prices in China will increase, and refinishing paint, industrial paint, and producers of light vehicle and commercial vehicle will be influenced.
Stephen Makovicky, the president of Axalta Coating in China, he says, “increases in raw materials prices increased the production cost. We have to raise the prices when considering the tight supply of raw materials, strict regulation and the lack of high-quality providers”.
PPG: Prices in Asia will increase, and OEM paint and industrial paint will be influenced. This pricing strategy will be effective on April 1, 2017.
Jotun: Prices will raise the global prices for marine paint, protective paint and powder paint. Increasing prices for raw materials force us to adjust the prices.
In the past 12 months, the prices for raw materials of paint continued the uptrend. Prices for epoxy resin, titanium dioxide and copper increased by 20% Y-O-Y. Zinc prices increased by 50%. Paint producers have no choice but to increase the prices.
As for the Chinese paint producers, raw materials, environmental protection, increasing freight and labor cost all pressure Chinese producers. So, Chinese paint producers may follow the trend to raise prices up.
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