Akron, Ohio – More than 80% of US rubber product manufacturers faced an increase in raw materials pricing in 2018, a survey by the Association for Rubber Products Manufacturers (ARPM) shows.
The level – more than double that of 2017 – continued into the final quarter, with 82% of respondents reporting raw materials price increases, ARPM noted.
The high proportion of companies paying more for their materials compared to 40% for the same period in 2017, 21% in 2016 and just 5% in 2015.
For 2018 as a whole, 15% said prices remained level, compared to 58% in 2017. No respondents in either 2018 or 2017 reported a fall in pricing for raw materials for the period.