Additive Companies Announce Price Increases
Lubrizol announced on December 19 it will implement a general price increase across all product areas from all shipping locations, effective February 1, 2018. A specific amount of increase was not stated. Rather, Lubrizol stated that the amount of the increase will vary across product area and specific product families. The company said "Raw material increases have been driven by both petrochemical feedstock prices as well as supply imbalances for some specific materials. Increased operating costs have been largely driven by higher transportation, energy, and testing costs, as well as a tighter labor market".
Infineum also announced on December 19 that it will implement a price increase on most of its additive products up by 5 to 8%, effective January 10, 2018 . Infineum attributed the increase to the escalating cost of raw materials and the higher cost required to maintain consistent supply.
Afton Chemical announced on November 17 that it will increase the price on a majority of its performance additives by 5 to 7% from all source points, effective December 15, 2017 and that prices for a few products will increase beyond this level. Afton Chemical attributed the increase to the higher raw material costs, as well as growing costs to deliver products.