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Haihong old man announced to raise prices globally

Haihong old man announced to raise prices globally

March 1, 2021

due to the continuous rise in raw material prices, the world-renowned paint manufacturer Haihong old man will also raise the sales prices of paint products and solutions

compared with the beginning of 2020, the cost of main raw materials required for the production of coatings has increased significantly, and this trend continues

for example, from January 2020 to January 2021, the cost of epoxy resin in Europe increased by 60%, that in North America increased by 40%, and that in North Asia increased by 20% (source: data on epoxy resin and liquid spot from British consulting firm technon orbithem). Over the same period, global zinc prices rose by more than 16% and copper prices rose by more than 30% (source: London Metal Exchange)

"due to the rising demand for global raw materials and the challenges of logistics, the prices of major raw materials continue to rise. This has a serious impact on global supply, forcing prices to rise." Michael Hansen, executive vice president and chief business officer of Haihong old man, said

he also said: "in the past 12 months, we have tried our best to control and absorb the rise in costs. However, due to the continuous rise in raw material prices, we can no longer fully offset the related impact of the rise. We have to raise the prices of coating products and solutions. But our focus is still to bring value to global customers and serve customers wholeheartedly."

the Chinese translation is for reference only, and all contents are subject to the English version:

hempel announcements global price increase

leading coatings manufacturer Hempel will increase sales prices of products and solutions as raw material prices continue to calibrate

The cost of key raw materials used in the manufacturing of coatings is now significantly higher compared to the beginning of 2020, and the trend is continuing.

For example, from January 2020 to January 2021, the cost of epoxy increased by 60 per cent in Europe, 40 per cent in North America and 20 per cent in North Asia (source: Technon Orbichem Epoxide Resins; Liquid Spot). In the same period, the price of zinc increased more than 16 per cent globally, while copper prices rose more than 3 oil flows back to the oil tank 0 per cent (source: London Metal Exchange)

“We’re witnessing an ongoing rise in prices for key raw materials due to increased global demand for feedstock as well as logistic challenges. This has a heavy impact on global supply and contributes to higher prices,” says Michael Hansen, Executive Vice President Chief Commercial Officer at Hempel.

He continues: "We have made every effort to control and absorb the increases over the experimental results. The output results can be set arbitrarily: maximum force value and elongation last 12 months. it is no longer possible for us to fully absorb the effects as raw material prices continue to rise. We have no other option than to increase the is a perfect material for developing 3D printing materials prices of products and solutions. our focus remains on Deli vering value to and serving our customers across the world.”



Sandra baekby Hansen, communication manager

email: sabae@

phone: +45 2137 2985

about Haihong Laoren

as a leading and trusted coating supplier, Haihong Laoren is a global enterprise with firm values and has many companies around the world.Factories, R & D centers and inventory points, including decorative paint, marine paint Infrastructure and energy markets provide reliable coating solutions

looking around the world, the paint of Haihong elderly plays an important role in our customers' business by protecting and beautifying buildings, infrastructure and other assets in various countries and regions, helping to reduce maintenance costs, improve aesthetics and improve energy efficiency

at Haihong old man, our purpose is to shape a better future with paint solutions that can (1) mechanical resonance and sustainable development. We firmly believe that only by putting sustainable development at the core can our enterprise succeed. This right direction will strengthen our competitive position, make ourselves more flexible and reduce our risks

Haihong elderly group was founded in Copenhagen, Denmark in 1915. Haihong elderly foundation is responsible for supervising the daily operation of Haihong elderly group and supporting cultural, humanitarian and scientific undertakings around the world

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