Soaring 40%! The Foreign-funded Chemical Giants 'Crazy' Rise!

Recently, Huntsman Advanced Materials Americas Division issued a letter stating that starting from January 1, 2022, it will impose mandatory price increases on some products. The price-increasing products include 37 chemical polymers such as epoxy resin, polyurethane, polyimide, polyamide, adhesives, etc., with an increase of up to 40%. The main product types that have increased prices are "Araldite" series epoxy resins, among which bisphenol F epoxy has increased by 5%, alicyclic epoxy has increased by 9%, multifunctional epoxy has increased by 9%, modified/solid/liquid /Solvent epoxy rose by $0.2/Ib (equivalent to 2,800 CNY/ton).

Such an unprecedented price increase has surprised many chemical people. Towards the end of the year, domestic chemical companies are constantly hitting low prices in order to grab the downstream market, and are preparing to use falling prices to end the year’s high prices. Still "sprinting" high prices, chemical industry leaders such as Covestro and BASF have continued to send letters to increase prices in the near future, which will kick off a new round of price increases in December and lay a solid foundation for continued high prices next year.

Soaring nearly 15,000 yuan! BASF, Covestro, Trinseo and other chemical industry leaders start to "charge"
DIC Co., Ltd.: The product is raised by 14160 yuan/500 square meters
From December 21st, DIFAREN® thermoplastic resin packaging multi-layer co-extruded film will increase 250 yen (approximately 14,160 yuan)/500 square meters (20μm conversion).

Ashland: The highest rise is 8430 CNY/ton
The selling prices of BDO and its derivatives in North America will be increased from January 1, 2022:
1,4-Butanediol (BDO) is raised by US$0.45/lb (approximately RMB 6323/ton);
N-Methyl-Pyrrolidone (NMP) will be raised by USD 0.50/lb (about RMB 7,025/ton);
2-Pyrol (2-Pyrol) is raised by US$0.50/lb (approximately RMB 7025/ton);
γ-Butyrolactone (BLO) is raised by US$0.60/lb (about 8430 CNY/ton);
Tetrahydrofuran (THF) is raised by US$0.50/lb (approximately RMB 7,025/ton).
BASF: Prices have risen by 35%, and some products have risen by more than RMB 7000/ton

Increased the prices of additives in the paint and coatings industry worldwide, including Attagel®, Dispex®, Efka®, Foamaster®, FoamStar®, Hydropalat®, Irgafos®, Irganox®, Loxanol®, Rheovis®, Sterocoll®, Tinuvin ® and Uvinul® series. The new price is effective immediately, or allowed to take effect according to the terms of the contract. The price increase will reach 35% this time in response to the sharp increase in raw material prices, transportation and energy costs, as well as labor, packaging and maintenance costs.

Increase the price of butanediol and its derivatives in Europe:
1,4-Butanediol (BDO) will be raised by 400 Euros/ton (approximately 2880 CNY/ton);
Tetrahydrofuran (THF) will be raised by 700 euros/ton (about 5,038 CNY/ton);
Polytetrahydrofuran (PTMEG) (PolyTHF®) will be raised by 700 euros/ton (about 5,038 CNY/ton);
N-methyl-pyrrolidone (NMP) is raised by EUR 1,000/ton (approximately RMB 7,197/ton).

Toray: The price rose by RMB 5,060/ton
It will increase the price of all grades of Trerina™ PPS (polyphenylene sulfide) resins from December 21st. Among them, high-filled products will be raised by 60 yen/kg (about 3373 CNY/ton); unfilled products will be raised by 90 yen/kg (about 5,060 CNY/ton).

Stepan: Five letters in a row to increase, the highest rise is nearly 4,000 CNY/ton
Since December 15th, the price of RUCOTE® powder resin in North America will be increased by 0.14 USD/lb (approximately 1967 CNY/ton).

Starting from January 1, 2022, the price of CASE STEPANPOL® polyols in North America will be increased by up to USD 0.20/lb (approximately RMB 2,810/ton).

Stepan UK will increase the price of TERATE® polyester polyol (insulation application) in Europe from January 1, 2022, by 100 Euro/ton (about 721 CNY/ton). In addition, due to the significant increase in the cost of Flame Retardants, flame-retardant products have been increased by an additional 100 euros/ton, a total increase of 200 euros/ton (about 1442 CNY/ton).

Stepan Poland will increase the price of STEPANPOL® polyester polyol (insulation applications) in Europe from January 1, 2022, by 100 Euros/ton (approximately 721 CNY/ton). In addition, due to the significant cost of flame retardants Increase, flame-retardant products are increased by 100 euros/ton, a total increase of 200 euros/ton (about 1442 CNY/ton).

Starting from January 1, 2022, the price of STEPANPOL® and TERATE® polyester polyols (insulation applications) in Beizhou will be increased by US$0.09/lb (about 1264 CNY/ton), and flame-retardant products will be increased by US$0.19 / Pound, a total increase of 0.28 US dollars / pound (about 3934 CNY/ton).

Covestro: the highest increase of 3185 CNY/ton
Starting from December 15th, the price of PC series products in China will be increased:
APEC® series will be raised by USD 0.50/kg (approximately RMB 3,185/ton);
Increase the Makrolon® series by USD 0.40/kg (approximately RMB 2548/ton);
The Makroblend® series will be raised by USD 0.50/kg (approximately RMB 3,185/ton);
The Bayblend® series has been raised by USD 0.50/kg (approximately RMB 3,185/ton).

QQ Chemicals: price increase of 3121 CNY/ton
The prices of all grades of Neopentyl Glycol (NPG) products will be increased globally from January 1, 2022, with the exception of Europe and the United States (including China), and other regions will increase by US$440-490/ton ( About 2808-3121 CNY/ton).

The prices of all grades of amine products including n-butylamine, di-n-butylamine, tri-n-butylamine, etc. will be increased globally from January 1, 2022, except for Europe and the United States (including China) , Other regions rose between 230-280 US dollars / ton (about 1465-1783 CNY/ton).