On November 9, 2017, SinoVision announced that it has implemented price increase measures for packaging and coating products in the Chinese market since November 1 (or within the time allowed by the contract and agreement) in order to offset the cost of raw materials The sharp rise in the impact of this price increase of 15% to 20%. Specific product varieties of the price rise details The company will communicate directly with customers.
June 1, 2017, Sunway officially announced the completion of the US paint maker Valspar (Valspar) worth 11.3 billion acquisitions, and this price increases are involved in the packaging paint is the main from Valspar One of the product lines, Valspar Industries and Packaging Coatings accounted for 57% of its total sales before being declared as M & A, and OEM customers dominated the packaging coatings industry in the world.
After the acquisition, Valspar Packaging Coatings business was incorporated into the Sherwin-Bordeaux High Performance Coatings business group, which is the world's largest provider of coating solutions for metal coatings. The company can provide complete packaging solutions to help customers Reduce costs, improve performance and protect the quality of brands and products.
According to Sam Shoemaker, global president and general manager of Sherwin-Pack Packaging Coatings, Coil Coatings, Coating Resins and Colorants, "In the Chinese market, we have not taken price increases since 2017 to offset rising raw material costs. The price of crude oil Has almost doubled since last year, while prices of chemicals such as coating raw materials have been steadily rising in order to promote compliance with environmental and safety regulations in China. "
However, in fact, Valspar, as of March 23, 2017, had announced that in response to the sharp rise in the cost of raw materials, as of April 1, 2017, or as permitted by the contract and agreement, the company in the Asian market packaging and coating products For the time being, and Sam Shoemaker, then president of Valspar's packaging coatings business.
'We will continue to work closely with our customers to minimize costs and remain committed to delivering packaging coating solutions and state-of-the-art service and regulatory expertise,' said Louis Wang, managing director, Asia Pacific.
As the previous analysis of WeChat, under the pressure of continued high raw material costs, the prices of coatings in the coatings industry have gradually become the norm. Even those large international coatings companies that can pass the relatively stable price of the long association have not been able to increase prices recently Impulse.
PPG, another international giants in the field of packaging coatings products, began to raise the prices of packaging coatings products globally in late April 2017. Since 2017, PPG has publicly announced product price increases on many occasions, including April On the 1st in the Asian market for a specific car OEM coatings and industrial coatings products price increases, in late April began to worldwide packaging and coatings products prices, May 1 in the European market for automotive OEM coatings and industrial Coatings prices have risen, starting November 1 in North America for all its industrial coatings products, the average price rose 6%.
AkzoNobel's Powder Coatings business unit announced price increases in China on October 13. Earlier Sept. 18, Axalta Coatings was again launched in Greater China Price increases, after Axalta in March 2017 on the part of the coating products have been price increases.