Wood Dale, IL 60191
Tel: (866) 969-8696
Fax: (630) 628-1769
Sales: $125 million.
Major Products: Sheetfed inks; HUV/UV, LED and EB inks and coatings; HUV/UV, OPV varnishes and strikethrough, conventional and UV waterless offset inks; solvent- and water-based gravure inks; solvent- and water-based flexo inks; inkjet inks; pressure sensitive adhesives; special function coatings; pigments; and plastic colorants.
Key Personnel: Toyo Ink America, LLC: Hisayuki Abe, president and CEO; Michael Ball, CFO; Masa Nagatsubo, GM, Liquid Ink Division; Joseph Sentendrey, GM PSA Division; Michael Keegan, VP of sales, Paste Ink Division; Vipul Shah, VP of sales, Liquid Ink Division; Kevin Garland, senior sales and marketing manager, Advanced Materials Division. LioChem: Teruaki Ido, president; Hudson Moody, GM, Plastic Colorant Division; Terry Hall, GM, Gravure Division; Ronnie Robertson, GM, administration division.
Comments: Toyo Ink Group, Tokyo, Japan, is the third largest ink manufacturer with $1.3 billion in sales of printing ink and graphic arts supplies in 2017. Toyo Ink America, LLC, its’ North American subsidiary headquartered in Wood Dale, IL, had a strong year in 2017, particularly in energy curable and flexible packaging inks, reporting $125 million in sales.
“Overall, our low energy products achieved double-digit growth again for 2017,” noted Michael Keegan, VP of sales, Paste Ink Division. “Our new low energy products FD LED and UV FD LT series have performed well and sales have increased. Toyo’s low energy varnishes had double-digit growth and LED gloss coating sales were excellent.”
“Liquid inks for flexible packaging applications also increased steadily, while our digital ink sales saw rapid growth in 2017,” said Masa Nagatsubo, GM, Liquid Ink Division. “Our low VOC liquid inks for pouches had success by providing a more environmentally friendly option for our customers.”
Keegan said he expects further growth in the low energy ink sector.
“Toyo’s low energy product sales continue to rise year after year,” Keegan added. “Our competition gets more intense each day as many other ink companies are entering these markets. Our Komori K-HUV inks are still our largest seller worldwide and more new press installs are scheduled for the coming months. Toyo anticipates that many of our customers will begin the process of adding LED lamps to their presses this year.”
Nagatsubo reported that flexible packaging is another promising market for Toyo Ink America.
“Eco friendly products are one option that we are providing to customers,” Nagatsubo noted. “We also work with film manufactures to provide technical support to develop new products for converters.”
Raw materials are a concern throughout the ink industry. Keegan said that UV raw material prices are increasing monthly, and there are reports of raw material shortages for this year that need to be monitored. Nagatsubo observed that TiO2 prices have been increasing.
“This trend is continuing, which affects our ink cost significantly,” he added. “Also, stricter environmental regulations in China are affecting raw material suppliers’ operations and their cost in China.”
Keegan expects further growth in low energy inks. “Many new low energy press installs are scheduled for the coming months,” he said. “We foresee that ink prices will rise if raw materials prices keep increasing.”
Nagatsubo sees new opportunities for digital and gravure inks on top of the growth the company is enjoying in flexo.
“Toyo also expects much more expansion for digital inks over the next 12 months and we are preparing to keep up with the demand,” Nagatsubo concluded. “We expect more gravure ink sales for flexible packaging in addition to flexo ink sales.”