Sun Chemical has increased the prices of its solvent-based inks and coatings in North America, effective July 1, 2020. These increases are expected to remain in place and might accelerate throughout the year. Sun Chemical is a producer of printing inks, coatings and supplies, pigments, polymers, liquid compounds, solid compounds, and application materials.
Due to the significant increase in the demand for alcohols and solvents for use in sanitizers and pharmaceutical initiatives, the prices of these materials have increased substantially. In order to secure the needed components for the production of solvent-based inks and coatings, Sun Chemical has experienced raw material cost escalation during the second quarter of 2020, the company said in media statement.Sun Chemical has increased the prices of its solvent-based inks and coatings in North America, effective July 1, 2020. These increases are expected to remain in place and might accelerate throughout the year. Sun Chemical is a producer of printing inks, coatings and supplies, pigments, polymers, liquid compounds, solid compounds, and application materials.#
“The COVID-19 pandemic is driving an increased demand for various alcohols and solvents to combat the virus and allow for the gradual reopening of economies around the globe. These raw materials are critical to the proposed safety practices of manufacturing organisations and service industries where the focus on consumer and employee health is at the forefront of new sanitizing protocols to help slow the spread of the virus,” Chris Parrilli, president of North American Inks, Sun Chemical said.
“The dynamics that have taken place over the last three months are unprecedented and the future of the pandemic remains unpredictable. However, Sun Chemical’s desire to deliver best-in-class supply, service, and quality, as expected by our customers, requires us to ensure a reliable source of raw materials. In order to continue to meet these expectations, we unfortunately must raise prices to offset the extraordinary market undercurrents that are driving up raw material costs,” Parrilli said.
Fibre2Fashion News Desk (GK)
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