Baton Rouge-headquartered specialty chemicals maker Albemarle Corporation, a leading global manufacturer of life-saving flame retardant products, has announced a global price increase for its NcendX P-30 flame retardant up to 25 per cent effective immediately, or as contracts allow.
NcendX flame retardants, part of Albemarle's polymer additives segment, add life-saving properties to materials used in TV housings and other electronic enclosures.
The company says the price increases are necessary to further offset large increases in energy and elemental phosphorous costs.
"Rising energy and material costs continue to put pressure on this product, particularly the dramatically increasing cost of elemental phosphorous," said Annemie Donkers, business manager for flame retardants for circuit boards and enclosures.
"We will continue to closely monitor supply chain economics to ensure we provide maximum value and superior products for our clients," Donkers added
In addition, the company has also eliminated all extended price validity for NcendX P-30.
Albemarle is leading global developer, manufacturer and marketer of highly engineered specialty chemicals for consumer electronics; petroleum and petrochemical processing; transportation and industrial products; pharmaceuticals; agricultural products; and construction and packaging materials.
The company operates in three business segments - polymer additives, catalysts and fine chemicals, with customers in approximately 100 countries.