The inflationary cost trends in raw materials used within the ink industry have continued to accelerate throughout the course of the year. In addition to the raw material pressures, significant cost increases have been instituted in steel drums, pails, and other packaging components. Availability of skilled labor remains a challenge and in order to attract and retain a committed team, labor costs and benefits have risen exponentially. International and domestic logistics costs have continued their steady climb and forecasts show no change in these trends in the near term.
“Sun Chemical’s top priority throughout 2021 has been to maintain the supply of our products to our customers. We have absorbed the higher costs of expedited freight, raw materials and other key inputs in order to achieve that objective,” says Chris Parrilli, president of North American Inks. “The recent pace and magnitude of these costs have exceeded our ability to mitigate their impact and, despite various actions to help offset, it is crucial that we implement further price increases across our entire portfolio of products to continue to meet the needs of our valued customers.”
Sun Chemical will communicate specific increases directly with its customers. Customers with questions can reach out to their local Sun Chemical sales representative.