Industrial adhesives price to go up by 20%: Henkel

Citing rising raw material costs, FMCG player Henkel India today said it would increase the price of its industrial adhesives by up to 20 per cent with immediate effect.

"Higher petrochemical feedstock-based raw material prices have driven a spate of adhesive price increases across the country. We have been trying our best to cope with these cost increases. However we have reached a point where product price rise is unavoidable," Henkel Asia-Pacific President Jan-Dirk Auris said in a company statement.

Henkel has announced a price increase of 10-20 per cent for various grades of industrial adhesives that are affected by rising costs of petrochemical feedstock-based raw materials, it said.

Between January, 2009, and February, 2010, prices of raw materials increased sharply, surpassing the previous high levels in 2008. Some petrochemical feedstock-based raw materials like propylene, benzene and butadine have increased by 202 per cent, 239 per cent and 335 per cent, respectively.

Currently, Henkel's adhesive technologies serve a range of customer groups with a comprehensive range of technologies, comprising adhesives, sealants and surface treatment products, the statement added.

Henkel, a Fortune 500 company, offers various brands in the homecare, personal care and adhesive technologies space.