David Savastano, Editor10.09.23
It has been a tough run for ink industry purchasing executives over the last six years. There has seemingly been non-stop raw material issues during that time, with key ingredients becoming unavailable for a variety of reasons and prices for what little was left soaring as a result.
All of this came to a head during the COVID pandemic. Not only were many plants shut down, but entire countries closed to try to contain COVID.
Meanwhile, the COVID pandemic also showed the fragile nature of the shipping industry. Ports have long needed upgrades, and the trucking industry has seen its own problems as drivers retire and aren’t replaced
.
All of this caused prices for key ingredients to skyrocket, and the ink industry was forced to play catch up with its own pricing for customers.
The good news is that ink industry leaders report that for the most part, pricing and availability of key raw materials have stabilized. In my article, “The Raw Material Market Sees Some Stabilization in 2023,” which begins on page 18, there is a sense that the supply chain fluctuations have calmed down. This is good news.
With that said, these leaders also note that while raw material costs aren’t going up, they are now at a level well above what they were pre-pandemic. This is a new normal for the industry. There also remain concerns that other geopolitical or economic threats may destabilize supply. Still, perhaps the best news is that purchasing teams have learned a lot during the pandemic and are now better positioned to handle these challenges going forward.
In addition, the October 2023 issue features Ink World’s annual Buyers’ Guide. Our Buyers’ Guide provides the printing ink industry with its most complete listing of raw materials, equipment and services, distributors and trade associations.
In addition, our annual Buyers’ Guide is also available online at www.inkworldmagazine.com. We hope you find it to be
very helpful!
All of this came to a head during the COVID pandemic. Not only were many plants shut down, but entire countries closed to try to contain COVID.
Meanwhile, the COVID pandemic also showed the fragile nature of the shipping industry. Ports have long needed upgrades, and the trucking industry has seen its own problems as drivers retire and aren’t replaced
.
All of this caused prices for key ingredients to skyrocket, and the ink industry was forced to play catch up with its own pricing for customers.
The good news is that ink industry leaders report that for the most part, pricing and availability of key raw materials have stabilized. In my article, “The Raw Material Market Sees Some Stabilization in 2023,” which begins on page 18, there is a sense that the supply chain fluctuations have calmed down. This is good news.
With that said, these leaders also note that while raw material costs aren’t going up, they are now at a level well above what they were pre-pandemic. This is a new normal for the industry. There also remain concerns that other geopolitical or economic threats may destabilize supply. Still, perhaps the best news is that purchasing teams have learned a lot during the pandemic and are now better positioned to handle these challenges going forward.
In addition, the October 2023 issue features Ink World’s annual Buyers’ Guide. Our Buyers’ Guide provides the printing ink industry with its most complete listing of raw materials, equipment and services, distributors and trade associations.
In addition, our annual Buyers’ Guide is also available online at www.inkworldmagazine.com. We hope you find it to be
very helpful!