The price increase comes into effect on 1 May, depending on individual customer contracts.

Ashland says this increase is driven by the recent, substantial increases in costs for certain key raw materials, including styrene.

Ashland Performance Materials is a supplier of unsaturated polyester and epoxy vinyl ester resins, gel-coats, adhesives and metal casting consumables and design services.

Ashland Performance Materials is a unit of Ashland Inc, a provider of speciality chemical products and services.