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After two quarters of rising prices, raw material prices for flexible packaging stabilised in the third quarter - but they remain high and energy costs are rising at the same time.
According to Flexible Packaging Europe (FPE), growing economic uncertainty is having an impact on demand from both processors and end customers, as consumers have become more cautious about a wide range of packaged goods due to high inflationary pressure.
The price of one-side coated paper with a grammage of 60 g/m2 increased (by 11 %), while 7-micron aluminium foil and 15-micron BOPA film maintained their price from Q2. BOPP film with a thickness of 20 microns fell by 17 % compared to the previous quarter, but its price is still 10 % higher than in Q3 2021.
Stabilisation only provides short-term relief
The price increases for low-density polyethylene and high-density polyethylene are currently stabilising compared to the previous year, although there is also a double-digit price reduction compared to Q2 2022 (13 % and 12 %). The price of PET film fell by 2 %, i.e. a slight reduction compared to the second quarter of 2022.
This stabilisation is only a temporary relief for processors and brand owners, who have had to cope with seven consecutive quarters of rising prices for most flexible packaging materials since the last quarter of 2020.
Supply bottlenecks expected to ease
In view of the declining demand for oil and the barrel price, which is currently falling again from its peak in the first few months of 2022, the supply bottlenecks for raw materials that occurred in the first six months of the year are expected to improve.
However, as winter is approaching in the northern hemisphere and energy supply disruptions continue to occur due to the ongoing conflict in Ukraine, gas and electricity prices have risen considerably and could rise significantly further in the future.
Source: Flexible Packaging Europe
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