2021 Increasing Costs of Raw Material in LED
LED lighting companies have announced price increases since the start of the New Year.
Signity has adjusted the price mainly involve ballasts, lamp cups and halogen tungsten lamps, Infrared bulbs, energy-saving lamps, outdoor HID light sources, fluorescent lamps and other 16 products, the price increases ranged from 5% to 17%
Osram(Guangzhou) has released “Product Price Adjustment Notice” to its related partners, announcing that the price of LED drive power has increased by 5% and inductive ballast has increased by 10% since the global supply chain is tight and the price of components continues to rise due to the pandemic. .
Landvance issued a notice on the price adjustment of Osram light sources, Landvance lamps and electrical appliances on the 18th, January this year.
American companies such as Cooper Lighting Solutions, Maxlite, TCP, Acuity, QSSI, Hubbel and GE current announced price increases. And many domestic lighting companies announced price rising notice after the Chinese New Year.
Due to the price rising of raw material such as copper, iron, aluminum and plastics, as well as the decline in terminal inventories and the increasing demands, the LED industry has faced with price booming, at the meanwhile faced greater pressure from rising costs. Since the beginning of 2021, the prices of various raw materials, including chip packaging have risen sharply.