Chemical companies in Asia must tackle inflation today

Published on September 2, 2023

Be it rising prices for raw materials, volatile foreign exchange rates, supply chain bottlenecks, (or all three), many chemicals companies in Asia are left with no other option but to increase their prices.

By nature, margins in chemicals are already low. In Asia, the industry is hit even harder due to its strong dependence on:

  • Oil and gas prices. We’ve already seen 2023 kick off on a worrying note with oil prices hitting seven-year highs. And considering the ongoing geopolitical instability, things could just be getting started.
  • Imported materials. As many Asian currencies depreciated against the US dollar, companies with trading contracts in USD faced increased input costs.
  • Petrochemicals like benzene, ethylene, and propylene. Here, price surges have a direct impact on many downstream chemicals, making it difficult to protect profits.
    • …

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