MOSCOW (MRC) -- BASF increased June prices of the polyalcohols products as of 1 June, 2017, or as existing contracts permit in Europe, said the producer on its site.
Thus, June prices for the following products rose, as stated below:
- neopentylglycol (NPG) - by EUR200/mt;
- trimethylolpropane (TMP) - by EUR200/mt;
- 1,6-hexanediol (HDO) - by EUR100/mt.
Neopentylglycol (NPG) is a high-quality intermediate used, for example, to produce polyester resins for coatings, unsaturated polyester resins, lubricants and plasticizers.
Trimethylolpropane (TMP) is a high-quality intermediate used primarily for the production of alkyd resins, which are used in paints and coatings. It also serves to produce lubricants.
1,6-Hexanediol (HDO) is used to manufacture industrial coatings including lower volatile organic compound formulations, polyurethanes, adhesives, and cosmetics. HDO also serves as a reactive thinner in the formulation of epoxy systems, which for example are used for the efficient production of rotor blades for modern wind turbines, as well as construction components for automotive lightweight applications.
As MRC informed previously, effective 1 June, or as contracts allow, BASF increased prices for numerous pigments by up to 15% worldwide. The price increase predominantly affects phthalocyanine and inorganic pigments used in the coatings, plastics and printing industries. The price adjustments are necessary due to higher raw materials costs e.g. copper, TiO2 or cobalt, as well as further challenging environmental, health and safety costs.
BASF is the largest diversified chemical company in the world and is headquartered in Ludwigshafen, Germany. BASF produces a wide range of chemicals, for example solvents, amines, resins, glues, electronic-grade chemicals, industrial gases, basic petrochemicals and inorganic chemicals. The most important customers for this segment are the pharmaceutical, construction, textile and automotive industries. BASF generated sales of about EUR58 billion in 2016.