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IVK Europe Warns on the Effect of Force Majeure Declarations

Date

09 Mar 2021

Sections

InfoSociety

Plastic manufacturers are faced by major challenges due to a severe shortage of important raw materials

A wave of force majeure statements from European raw material suppliers, the likes of which have not been seen since 2015, is leading to a difficult situation for the member companies of IVK Europe as manufacturers of products made of plastics. At the same time there has been a lack of imports from the USA and the Middle and Far East in recent weeks. The situation is exacerbated by the high demand for packaging in the food sector and for medical products, but also in the construction, automotive and furniture industries, IVK Europe’s core areas.

The difficult supply situation leads to production restrictions in the short and medium term and at the same time significant price increases. In this situation IVK Europe’s member companies are predicting bottlenecks in production and deliveries to customers. Some member companies have already had to announce short time working due to raw material shortages. IVK Europe will continue to monitor and report on developments.

 

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