20 January 2011 10:40 [Source: ICIS news]
LONDON (ICIS)--Clariant’s Industrial and Consumer Specialties (ICS) business is targeting global price hikes for its entire product portfolio by up to 15%, the Switzerland-based specialty chemicals maker said on Thursday.
“The adjustments reflect the sharp rise in oleochemical and petrochemical feedstock costs in 1st quarter of 2011 and continuing tightness of oleochemical feedstock availability,” Clariant said.
The group added that the price increases would become effective immediately or as contracts allowed.
Raw materials have been in short supply in the Asian oleochemical industry, which has triggered spikes in prices that could keep the production of products such as fatty acids and fatty alcohols low into 2011.
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Oleochemicals are used in making surfactants, soap and detergents, cosmetics and food emulsifiers. Their new applications driving growth are in the areas of biolubricants, green chemicals, bioplastics and biopolymers.
Clariant’s Industrial and Consumer Specialties segment is the group's largest business unit.
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