The hygiene division of Indorama Ventures (IVL) has announced prices increases for 2022, as the global instability caused by Covid-19 is further exacerbated by high costs for polymers and additives, logistics and energy.
IVL says that the prices of polypropylene, polyester, recycled polyester, polylactic acid (PLA) and bicomponent fibers will increase from December 2021, or as contracts allow. These fibres are used in a variety of different hygiene and technical applications, worldwide with prices set to increase by up to 15%, depending upon the specific fiber grade.
Announcing the price rise, Shachar Rachim, CEO of the Hygiene Division said: “Due to unprecedented increases in energy, wages, domestic and international freight costs, as well as finishes, additives and all packaging materials, we find it necessary to take this pricing action. These price increases will take place independent of any resin cost changes.”
Tom Zaiser, chief marketing officer, added: "We recognize that these increases are taking place during an unusually high period of commodity resin pricing, yet we must take this action in order to support the staffing of our operations and the continued delivery of our high-quality fibres.
“We will monitor the dynamic, global inflationary issues making these increases necessary on a quarterly basis and adjust as possible should these pressures subside.”
