British Coatings Federation03.10.21
Lack of availability of key raw materials and packaging and significant price increases are causing significant disruption to the coatings and printing ink industries in the UK and across Europe, according to the BCF.
Four significant trends are affecting raw material prices:
Strong global market demand has led to shortages of many raw materials;
The oil price has risen by 58% since November (currently $68 a barrel);
The global shortage of shipping containers has led to a sharp rise in transport costs from Asia to Europe thus further restricting supplies to Europe;
Additional non-tariff costs related to the new UK customs arrangements with the EU are adding to the cost of imported raw materials into the UK from Europe.
However, there are also some specific reasons for some of the recent increases.
Solvents are one category where prices are going through the roof. Some examples in BCF’s monthly raw material prices sur
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