Tokyo, Japan – Shin-Etsu Chemical Co., Ltd. announced that it is going to increase the sales prices of all of its silicone products 10 to 20 percent effective October both in Japan and globally.
Shin-Etsu announced a silicone products price increase in March of 2021 that was necessitated by the rise in prices of such raw materials as silicon metal and methanol as well as increased logistics costs. Since then, silicon metal, the main raw material of silicones, has faced a tightening of supply and demand globally. As a result, its sharp price increase is continuing. In addition, with regard to the procurement of raw materials and the shipping of products, transportation costs are greatly rising.
“Shin-Etsu is continuing our own company’s efforts to reduce manufacturing costs; however, we have judged that it has become difficult to absorb the entire amount of these increased costs, and unavoidably, it has become necessary to implement price revisions,” the company stated in a press release.