Sun Chemical Packaging has announced that it will raise prices globally on all of its packaging inks, from December, due to continued increases in the costs of raw materials. The ink giant said, today, that it will raise prices on packaging inks for all printing methods and chemistries. It said that costs in raw materials and volatility in the supply chain has caused the firm to increase its prices. The price increases will vary as different products that Sun Chemical offers have a different chemical composition, but the average cost increase will be approximately 6 %for most products. White inks, nitrocellulose varnish, and other products containing the phthalocyanine green (PG7) pigment will each see significantly higher price increases, according to the firm. Raw materials cost and supply instability Specific price increases by region will be announced in the following days, says Sun Chemical. “Raw materials cost and supply instability continue to significantly impact the ink industry,” said Felipe Mellado, chief marketing officer, Sun Chemical. Mellado added: “In fact, raw materials in 2011 experienced both a record level of volatility as well as unprecedented price increases. Titanium Dioxide, for example, experienced steep price increases reaching a level more than 50 percent higher than in early 2010.” In addition to steep price increases for TiO2, there were very significant increases in nitrocellulose, energy cure resins, acrylics and other packaging resins, styrene, classical pigments, carbon black, vegetable oils, solvents, and additives. According to Sun Chemical, the factors causing this volatility and inflation include feedstock shortages, commodity inflation, supply constraints and continued growth in demand from both traditional markets as well as from alternative industries like adhesives, and coatings. “We regret needing to take this action, but as is occurring in virtually every industry today, current market conditions demand we adjust our prices,” Mellado said. Mellado added: “It is our commitment to continue to work closely with customers to help them get the most possible out of our products, and to develop new valued products and services that can help grow their business despite this challenging marketplace.”
Sun Chemical hikes packaging ink prices
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