Sun Chemical has implemented another price increase across its entire portfolio of packaging, commercial sheetfed, and publication inks, coatings, pressroom chemicals and adhesives in the EMEA region, effective October 1, 2021.
The company said that the global raw material situation had not shown any signs of stabilization during the summer but instead continued to demonstrate further significant inflationary pressures. Raw material shortages are an ongoing concern, and the competitive environment to secure these scarce resources has accelerated the cost increases within a majority of Sun Chemical's raw material categories.
In addition to raw material cost pressures, logistics and operational costs have soared, including packaging, freight, and utilities, as the economic recovery drives demand for these services.
‘The dynamics within the ink market are unprecedented without signs of stabilization," said Carlo Musso, president of EMEA packaging inks and Robert Fitzka, president of key accounts and publication inks at Sun Chemical. ‘Sun Chemical's primary objective is to keep our customers supplied with the products and services they need, and we have taken necessary steps to secure raw materials and transportation inclusive of absorbing higher costs.
‘As a leading ink supplier, Sun Chemical is working hard to mitigate rising costs whenever possible; however, the speed of the inflationary pressures necessitates we implement price increases in the market. The percentage of increase will vary from product line to product line due to the different situation of the raw materials, but it is going to be significant due to extraordinary cost escalation of materials, energy, freight, packaging, etc.’
Sun Chemical will communicate specific increases directly with its customers.