BASF implements cosmetic polymer price hikes
manufacturer to announce major price hikes among its offerings to
the personal care industry.
The North American affiliate of BASF has informed its customers that the price of its cosmetic polymers will increase from June 15.
Cosmetic ingredients BASF's cosmetic polymers will all rise 30 percent in price, as contracts allow.
So personal care manufacturers buying grades of Luviflex, Luviform, Luvigel, Luvimer, Luviquat, Luviset, Luviskol and Ultrahold will face higher costs.
No statement was made about the price of BASF's other personal care ingredients, which include UV filters, active ingredients, surfactants and effect pigments.
Cost pressures The specialty chemical firm said the prices of raw materials and energy have risen considerably forcing the company to increase its prices.
The announcement comes after BASF's major competitor Dow Chemical increased prices across its divisions on June 1.
The company implemented price increases of up to 20 percent in the latest round of hikes to mitigate for the relentless price rises in energy, feedstock and transportation.
The company did not reveal the extent of the price increases it was imposing in personal care, revealing only that exposure to inflationary pressure would be the determining factor.
Dow Chemical spokesperson Chris Huntley told CosmeticsDesign.com that its cosmetics products are quite far down stream and therefore less directly exposed.
Other chemicals makers have also revealed their strategies for coming to terms with ever increasing input costs.
Rohm and Haas applied an indexed raw material and energy surcharge to many of its products last month.
Other major suppliers to the cosmetics industry, including Cognis and Croda, have implemented significant price increases recently.
