Shin-Etsu raising silicone prices

Tokyo – Shin-Etsu Chemical Co. is increasing prices for its silicone products both in Japan and globally, the Japanese group announced 13 June.

Effective 1 July, the revision will see prices of all silicone products increase by “10% or more”.

Shin-Etsu linked the decision to higher manufacturing costs in recent years, including the cost of raw materials and energy.

Furthermore, the group noted that plant construction and equipment repairs had become expensive due to increasing labour and material prices.

In addition, Shin-Etsu said, “logistics costs and the costs of auxiliary materials such as product containers are rising year by year and are expected to continue to increase and remain high in the future as well.”

The Tokyo-based group said it has been striving to reduce manufacturing costs, adding that the “in-house efforts alone will not be sufficient to absorb the cost increase.”