Tight supply of raw materials
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Printing ink producers around the world have complained recently that the supply of raw materials is too tight. This is because raw material producers have significantly reduced their production capacity during the economic downturn and weak market demand, but they have not been able to meet market demand when demand has improved.
The tight supply of raw materials has led to a sharp rise in the cost of ink producers, and in the past few months they have been forced to raise prices several times to keep up with the rise in raw material prices.
Raw material prices have risen sharply: According to Sun Chemical Co., a subsidiary of Dainippon Ink Chemical Industry Co., Ltd., the price of rosin resin has increased by 75% since the beginning of the year and by 300% compared with the same period of last year. Rosin resin can be used for production printing. Ink and pigment brighteners, subject to limited supply, the price of this material has risen sharply and will rise further in the future.
According to Chinese phenolic resin network experts, rosin resins are mainly divided into three categories: gum rosin, oil rosin and hydrocarbon rosin. Among them, the gum rosin is mainly from the gum tree, mainly produced in Brazil and China; the oil rosin is obtained by fractionating the tall oil; the hydrocarbon rosin resin includes the aliphatic resin and the aromatic resin, and the raw materials of these resins are derived from the stone brain. Oil cracking unit. Gary, head of North American operations at Arizona Chemicals, a large US rosin resin manufacturer, noted that strong demand for rosin resin has driven its prices up sharply.
The strong growth in domestic demand for domestic rosin and the increase in labor costs have spurred the price of Chinese rosin to soar from $600 to $900/ton over the past 18 to 24 months to $3,200/ton. The capacity of hydrocarbon rosin resins is also very tight, as some unplanned shutdowns of ethylene plants affected the market earlier this year. According to Sun Chemical, the prices of other raw materials for printing inks have also risen sharply. Pigment prices have risen significantly this year and are expected to rise further by 5% next year.
Raising prices to cope with increased costs – Due to a shortage of raw materials, especially the supply of rosin resins and most pigments, Sun Chemicals raised the price of cold-set printing inks in Europe in October. Among them, the price of cold-set color inks rose by 0.4 euros/kg, and the price of cold-set black inks rose by 0.3 euros/kg. At the end of September this year, the company has raised the price of packaging ink in the US market by 4 to 14%.