Flint has announced its latest round of rises in response to “significant increases” in raw materials costs, some of which have already taken place and some that are forecast for 2018.
It said price inflation had affected key resources used in solvent and water-based inks and coatings such as polyethylene and polyethylene resins, titanium dioxide, pigments, key solvents, glycerin and MMAs.
“Despite our tenacious efforts to mitigate these dynamics by deploying significant capital to efficiency projects, cost pressure has been utterly relentless,” said Flint packaging inks president Doug Aldred.
“The situation now necessitates that we pass some increases through the supply chain.
“Product quality and consistency are essential for our customers which is why we will continue to prioritise efficiency improvements so they can assuredly rely on us moving into the new year.”
Factors necessitating Luxemborg-headquartered Flint’s decision include the shutdown of pigment production facilities in China pending environmental inspection, glycerin prices forecast to be 80%-90% higher in 2018 than 2017, and the tightening and price escalation of the titanium dioxide market.
Similar factors have impacted Sun Chemical, which said costs had risen regularly since 2016 due to production and environmental restrictions on materials. Percentage increases are expected to be “in the single digits”, varying dependent on compositions and product line.
The New Jersey, US-headquartered firm will communicate specific price increases on its liquid inks and coatings for flexible packaging with customers across all regions.
Chief marketing officer Felipe Mellado said: “We work proactively with our supply chain partners to manage and minimise costs, but due to the economic reality, cost pressures have been constant and significant price increases are being passed on to the inks industry.
“To ensure we maintain high levels of product quality and service, it has become necessary to increase customer prices.”