Paint prices are to soar further because of the cost of raw materials and supply chain disruptions, Europe’s largest producer of the product has warned.
Akzo Nobel, whose brands include Dulux, said prices have already risen by 9 per cent in 2021 and would increase further by 14 to 15 per cent by year end as a result of rocketing costs and shortages of additives, petrochemicals and packaging materials.
It is the latest manufacturer to flag rising material and supply chain costs as a drag on financial performance following warnings from US companies Procter & Gamble and Colgate-Palmolive.
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