Company president Rick Clendenning stated the economic downturn in 2008 caused many of the printing ink industry’s raw material suppliers to reduce operating capacity. Several suppliers permanently shut down manufacturing plants. Over the past 12 months, demands have increased and raw material suppliers are still not positioned to adequately supply and service this increase in demands.
“These ongoing raw material supply shortages and cost increases are continuing to have a serious impact on printing ink costs, supply and production. Key materials such as titanium dioxide, Violet 23, UV monomers and acrylic acids (acrylic resins) have increased in cost and many are now on restricted supply,” Mr. Clendenning said. “We understand and respect the fact that all markets are still recovering from the 2008 economic downturn, and we will continue to do everything possible to mitigate printing ink price increases in all markets.”
This increased demand imbalance on specific global raw materials and chemical feed stock markets has forced INX International Ink Co. to take the following actions effective Sept. 1: Solvent-based white inks and water-based white inks will increase in price from 4 to 6%. Inks containing Violet 23 (purple) and water coatings will each increase 8%. Water-based inks, bases, clears and blends will rise 2 to 4%, and UV inks and coatings will be increased 8 to 10%.