Wacker says it will adjust the prices for food-grade polyvinyl acetate (PVAc) globally due to sharply rising raw material costs.
The price will increase by up to 30%, or as customer contracts allow.
The company says this is due to the ongoing high costs for vinyl acetate monomer (VAM), a crucial raw material for the manufacturing of its PVAc solid resins.
The increase will be effective immediately and persist until further notice.
“Within the last six months, prices for VAM have sharply increased and temporarily almost doubled in Europe,” says Christian Hauk, business director for gum at Wacker Biosolutions.
“Until the situation on the raw material market eases, we will have to add a surcharge to our food-grade PVAc solid resins prices to partially compensate our increased costs.”
“Despite our continued efforts to optimize cost structures and productivity, the current market situation makes a price adjustment inevitable.”
The company has been supplying the market with solid PVAc resins for more than 50 years, whose products are marketed under the Vinnapas and Capiva brands for the chewing gum industry.
Its solid resins are used to produce modern types of gum base, the water insoluble part of chewing gum which acts as the carrier for sweeteners and flavors.
