BASF Raises Prices for Coatings Intermediates in Europe
Need to Know
- BASF raised European prices for neopentylglycol by €250 per metric ton and 1,6-hexanediol by €300 per metric ton, effective immediately or as contracts permit.
- Both coatings raw materials have formulation applications: NPG is used in polyester resins for coatings, while HDO is used in industrial coatings, lower-VOC formulations and epoxy systems.
BASF has increased prices for neopentylglycol and 1,6-hexanediol in Europe, citing the global supply-demand situation and rising raw material costs.
According to BASF's Aug. 12 announcement, the company increased the price of neopentylglycol, marketed as Neol, by €250 per metric ton and 1,6-hexanediol by €300 per metric ton. The increases are effective immediately or as existing contracts permit.
Both intermediates have direct coatings applications. BASF said neopentylglycol is used to produce polyester resins for coatings, along with unsaturated polyester resins, lubricants and plasticizers. The company said 1,6-hexanediol is used in industrial coatings, including lower-VOC formulations, as well as polyurethanes and adhesives. It can also serve as a reactive thinner in epoxy formulations.
BASF said the pricing action is intended to address current raw material and market conditions while supporting continued product and service availability.
PCI tracks additional supplier price changes affecting the coatings industry.
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