The lubricant industry continues to absorb price increases on chemicals that it uses. Ciba Specialty Chemicals, Pilot Chemical Co. and OM Group Inc. announced hikes recently, all blamed on rising raw material and energy costs.
Ciba said June 16 that it was imposing an immediate hike of 15 percent on its products, which are marketed under the Irganox, Irgalube, Irgacor, Irgamet and Irgafos brand names. The specialty chemical supplier, which is based in Basel, Switzerland, said it was pushed to act because its own costs are rising on a number of fronts.
The price increase is necessary to keep pace with escalating global raw material, energy and logistics costs, said Thomas Engelhardt, head ofthe companys global lubricant additive business.
Pilot said its price for alkyl aryl sulfonates used in lubricant additives will increase by 3 cents per pound, effective July 15. The Cincinnati-based specialty chemical supplier markets those products under the Aristonate brand name. The company cited higher costs for feedstocks and energy.
OMG announced markups of up to 10 percent, effective July 24, on certain organic metal products, including those used in lubricants. The Cleveland-based company said it is paying more for hydrocarbon and metal raw materials, as well as for freight.