NEWS

Many major neoprene suppliers have announced price increases for their products in November.

The latest addition to the list of price hikes is German neoprene maker Arlanxeo.

The company announced on Nov. 9 that it would raise prices for neoprene and neoprene adhesives it sells in Europe, the Middle East, Africa, Latin America and Asia.

The price increase by $230/ton, taking effect from November 25.

ARLANXEO explained that the price increase was due to overall market conditions and cost changes over the past few months.

ARLANXEO distributes neoprene under the brand name "Baypren" with an annual production capacity of 60,000 tons.

The other day, the Japanese supplier Showa Denko Co., Ltd. announced that it will raise the price of its neoprene rubber supplied to European and Asian markets starting on November 16. Prices will rise by $430/t, or €380/t.

Showa Denko said the company had avoided to raise prices as much as possible, but could no longer maintain the original prices. Showa Denko's neoprene production capacity is 23,000 tons per year, all of which are located in the Kawasaki Consortium in Japan.

On November 1, another Japanese supplier, Tosoh Corporation, announced that it would increase the price of neoprene sold under the "Skyprene" trademark.

From January 1, 2017, the selling price of these products will increase by $400/ton. The company said the price hike was  to ensure stable supply capacity.

It is reported that neoprene is mainly used in the production of cable jackets, hoses, tapes, air springs and adhesives, and is also the main material for wetsuits. Its global market size is about 300,000 tons per year.