By Elizabeth Broomhall www.constructionweekonline.com
Dubai-based paint and powder-coatings specialist Jotun says an increase in the price of raw materials has pushed up the price of its powder coatings in the Middle East, Asia and Europe.
The company claims that a rise of 25% in recent months for materials such as polyester, titanium dioxide, polyurethane and epoxy resins, has forced it to make price changes.
Jotun says its new prices will reflect some variation in cost changes across materials, the increase varying for each product depending on its technology base, though the company maintained that price increases would affect all of its product categories.
Jotun Powder Coatings divisional marketing director Claudio Lurilli said in a statement: “The market circumstances have forced us to make these changes in prices,” whilst adding: “our customers can be assured of Jotun Powder Coatings’s continuous commitment to quality, excellence and use of the latest technology to manufacture our powder coatings.”
As a key supplier to the Middle East’s construction industry, Jotun is one of a number of firms to be affected by the rising cost and shortage of raw materials.