RAW MATERIAL IMPACT
The deep freeze in Texas and the Gulf Coast region combined with the massive power outage have put a number of important raw material supplies in peril for the foreseeable future. The storm resulted in a massive shutdown of more than 20 oil refineries and many chemical suppliers that are vital to the home improvement industry. Resins, acetone, and many other chemicals will be in short supply due to severe ice damage, burst pipes, and required start-up and recovery plans in an industry that was already in a bad stock situation. These raw material shortages will have a significant impact across the industry on things like paint, stains, PVC, CPVC, caulks, adhesives, and a wide range of other items like garden hoses and plastic storage. On the building materials side, available supply will be affected by a shortage of the resins used for EWP, OSB, and drywall mud, for example. We would advise you to be cautious on quoting price and availability on these items due to extreme volatility in the marketplace.