German chemical and biotech giant BASF has announced that the price of all products in its Care Chemicals portfolio in North America would be increasing significantly.
In its 1 November announcement, the company said the 15%-25% price increases would be effective from 1 December.
“This price adjustment is driven primarily by significant volatility in pricing and availability of essential raw materials, continued escalation of domestic and transcontinental freight, increased packaging costs, and rising energy costs,” the statement said.
BASF’s Care Chemicals division produces a range of ingredients for personal care, home care, industrial & institutional cleaning, and technical applications. It is also a leading supplier for the cosmetics industry as well as the detergents and cleaning industry.
The division’s portfolio includes surfactants, emulsifiers, polymers, emollients, chelating agents, cosmetic active ingredients, UV filters and enzymes.
BASF is organised into six segments: chemicals, materials, industrial solutions, surface technologies, nutrition & care and agricultural solutions.