MOSCOW (MRC) -- Trinseo, a global materials company and manufacturer of plastics, and latex, has announced the company is raising its prices of all styrene acrylic and acrylic latex products sold into the carpet market in North America, as per the company's press release.
The present price increase is effective May 1, 2022, and will be USD0.10/dry lb. as contracts allow.
This price rise is necessary to offset rising raw material and transportation costs.
As MRC reported earlier, Trinseo is targeting to begin construction of its world-class chemical recycling plant in Europe by the end of 2022. The company announced that plans for this plant are progressing rapidly. In late 2021, Trinseo contracted with global technology provider Synova and global engineering services company Worley, and is currently working on an engineering package and preparing Trinseo’ s Tessenderlo, Belgium site for recycling operations.
The plant will be dedicated to recycled polystyrene (rPS), meeting increased demand for the material as brand owners seek sustainable options. It will process 15 kilotons of rPS flakes annually that will be converted into high quality recycled styrene to enable further production of polystyrene (PS) and/or a styrene derivative including Acrylonitrile Butadiene Styrene (ABS) and Styrene Acrylonitrile (SAN).
PS is one of the most widely used plastics and can be fully circular.
According to MRC's ScanPlast report, January 2022 estimated consumption of PS and styrene plastics in Russia rose by 9% year on year, totalling 49,170 tonnes. Russia's estimated consumption of all PS grades increased year on year. Thus, consumption of high impact polystyrene (HIPS) and general purpose polystyrene (GPPS) was 33,020 tonnes in January 2022 (up by 3% year on year), consumption of expandable polystyrene (EPS) was 8,520 tonnes (up by 1% year on year), whereas ABS consumption was 7,450 tonnes (up by 76% year on year).
Trinseo is a global materials company and manufacturer of plastics, latex and rubber. Trinseo's technology is used by customers in industries such as home appliances, automotive, building & construction, carpet, consumer electronics, consumer goods, electrical & lighting, medical, packaging, paper & paperboard, rubber goods and tires. Formerly known as Styron, Trinseo completed its renaming process in 1Q 2015. Trinseo had approximately USD4.8 billion in net sales in 2021 and has 26 manufacturing sites and one recycling facility around the world and approximately 3,400 employees.