New statistics published in the last few days from the British Coatings Federation show the spectre of raw material price inflation continuing to loom ever larger over the industry with November’s data showing another round of record increases.
Solvent prices were up 78% in the last 3 months to the end of November (compared with a year ago) with resins and related materials 39% higher and packaging prices up 19%.
For some solvents, prices were 200% to 300% higher - for example, N-Butyl Acetate prices at £3,850 per tonne were 310% higher than a year ago. Other big increases of about 200% were also reported for MIBK and N-Butanol while Methoxy Propyl Acetate prices were up 139%.
For resins and related materials, Solution Epoxy Resin prices were more than double the levels of a year ago with further sharp increases also being seen for Desmodur, Cobalt Drier and Urethane Alkyd Unithane.
Elsewhere, pigment prices remained high with Pigment Black prices up 38% for example. Titanium Dioxide prices were unchanged on the previous month but at £2,600 per tonne were still 19% higher than a year ago.
For extenders, Talc AT1 type and Snowcal 60 again increased but China Clay Speswhite prices fell from recent highs.
In packaging, prices for all items in our basket were well up on this time a year ago but with more recent months showing evidence of slightly lower prices for some items such as 750 ml lever-lid metal cans, 5 litre oblong cans and 5 litre round tins. Compared with a year ago, virtually all the packaging items in our basket have shown double figure price increases with 205 litre drums up 48% on November 2020 and with 25 litre drums 25% to 28% higher. Prices for smaller pack sizes are in the region of 15% higher than a year ago.
Looking to the future, reliable forecasts are hard to come by but with most major forecasting bodies expecting oil prices to remain above of $70 per barrel for 2022 the indications are that higher costs are here for the foreseeable future.
Contact point
If you have any questions about these BCF statistics please contact Whittle Industry Data,
tel: 01206 824028, email: john.dixon@wid.co.uk
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