Shin-Etsu Chemical has revised its prices for silicone, one of its major products, both in Japan and globally. In recent years, factors affecting these products have included price hikes in raw materials and energy for manufacturing, as well as plant construction and equipment repairs becoming more expensive due to increasing labor and material prices.
Increase in Logistics & Auxiliary Materials Costs
In addition, 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.
Although Shin-Etsu Chemical has been striving to reduce manufacturing costs, the company has determined that these in-house efforts alone will not be sufficient to absorb the cost increase. Therefore, the company has decided that silicone prices will be revised as follows.
Shin-Etsu Chemical will make every effort to ensure that users of its products understand the above situation and accept the revision to the selling price.
Products affected: All silicone products handled by the Silicone Div. of Shin-Etsu Chemical
Price revision rate: 10% or more for all products
Effective date: Started with products shipped on July 1, 2024
View All Silicone Grades from Songwon
Source: Shin-Etsu Chemical