Dow Plastics Announces European Price Increase for Engineering Plastics
According to Michael de Braaf, Global Product Manager for Dow Engineering Plastics, the price increases have been driven primarily by raw material considerations: "The chemical industry is under siege from a highly volatile oil and energy situation. The specter of war in the Middle East and the abrupt disruption of supply from Venezuela have driven up crude oil prices. At the same time, the price of naphtha and the U.S. natural gas liquids - ethane, propane and butane - have moved significantly higher. On its own, this dramatic upward movement in oil and energy pricing would be extremely challenging. However, when coupled with the fact that this is happening after a couple of years of severe margin compression within the chemical industry, the situation has become unsustainable," said De Braaf.
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