Elkem increases the prices of its silicone-based products

Elkem, a leading global supplier of silicone solutions, is set to implement a minimum 10% price increase on its silicone products worldwide, effective August 15, as a reaction to escalating costs across multiple sectors of its supply chain. The increase reflects rising expenses in raw materials, packaging, energy, transportation, logistics, labor, and operational maintenance.

Despite efforts to reduce costs and enhance efficiencies over the last 18 months, these have not been sufficient to counteract the rising costs fully. This change is expected to affect industries that depend heavily on silicone, including construction, automotive, healthcare, and electronics. Industry observers are closely watching to see how this adjustment by a significant player like Elkem could influence broader market pricing trends.

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Elkem is a globally recognized supplier of advanced silicone solutions, renowned for its innovation and quality in the production of a wide range of silicone products. The company caters to various industries, including construction, automotive, healthcare, and electronics, providing materials that are essential for a multitude of applications. Elkem focuses on sustainable practices and operational efficiency to meet the demands of its diverse clientele worldwide.