Mark Costa on industry pricing dynamics
From The Middle East conflict has a ‘significant CONSTRAINT’ on plastics, says Eastman Chemical CEO · · Fox Business
“Actually not, because like uniformity, everyone is raising price ps at same time too before the costs, it has been a challenging world in chemical sector with weak demand since 2022 with interest rates and inflation affecting affordability, everyone had their back against the wall and had no room to absorb these increases, everyone is very quickly raising prices faster than I have seen in 20 years. At rate at which we're raising prices to cover our costs.”
On , Mark Costa, Chairman & Chief Executive Officer at Eastman Chemical Co, spoke about industry pricing dynamics during The Middle East conflict has a ‘significant CONSTRAINT’ on plastics, says Eastman Chemical CEO on Fox Business.
About Mark Costa
Mark Costa, Chairman and CEO of Eastman Chemical, appeared on Fox Business on May 12, 2026, to discuss the impact of the Middle East conflict on global petrochemical markets. Costa stated that the situation in the Middle East is a "severe issue" for manufacturing and the chemicals and plastics sectors, creating a "significant constraint" on supply. He described this as a "net opportunity for earnings growth" for Eastman, citing the company's technology and core operations. Costa said Eastman has raised prices by $500 million in the current quarter on its $9 billion in revenue to keep up with raw material, specialty, and distribution costs. He noted that customers have not pushed back, as the entire industry is raising prices "faster than I have seen in 20 years." Costa added that while price increases may take months to reach consumer products, he is more concerned about a "volume shock" where manufacturers may be unable to produce goods. He expressed confidence that Eastman would improve margins and generate strong cash flow starting in the current quarter.