Decorative Laminate industry is marred by the upward trend in the prices of raw materials as recently reported by the Ply Reporter; the rates of B grade Kraft paper were already on the rise without showing any sign of easing up in near future.
Apart from this, the war like situation brewing between Israel- Iran has further triggered up the prices of Formaldehyde and Phenol, the important raw materials used for making decorative laminates resin.
As per the reports, the rates of Formaldehyde have increased by 8-10 % while the phenol prices have registered an upshot of 6-8 percent in the last fortnight.
Speaking on the current situation of the laminate industry, Mr Narendra Khemka, MD, Saffron Decoratives Pvt Ltd remarks that industry is under pressure owing to the higher input cost borne by the laminate manufacturers.
He also suggests that the entire industry should come together to re-evaluate the laminate prices in the wake of high raw materials prices so that some decisive steps can be taken to absorb higher input cost for the benefit of the industry.