The industry has been faced with numerous price increases in recent months for a wide variety of products and services. Heading to the end of 2021, IFG is again warned about multiple price adjustments by its suppliers and for various reasons.
These price increases are a consequence of the continuing global instability caused by Covid-19. The impact of this has been felt across IFG’s main supplier base from polymers and additives, through to logistics and energy. These shortages and increased costs within the supply chain are not only present in our industry but pose difficulties for businesses worldwide.
Moving into 2022, industry base-contract prices for polymers and additives will increase significantly following on from the substantial rises in energy costs seen in recent weeks. As a result, IFG’s base fiber prices will be increasing to partly incorporate these rising costs.
This is completely unavoidable, and the company is simply unable to absorb all of the impact and maintain its high standards of product quality, flexible service and continuing innovation to the market.
To give its customers the best possible confidence in supply through these continuingly turbulent times, IFG remains committed to providing the highest quality products using secure and contracted volumes of first-class raw materials, giving its clients and the supply chain peace of mind.
IFG also remains committed to its use of green energy for the majority of its manufacturing. This is in addition to IFG’s growing range of bio and sustainable fiber alternatives launched this year, as part of its strategy to lead the industry into a more sustainable future.