Sun Chemical (Parsippany, N.J.) will increase the prices of its energy-curable, solvent, and water coatings, as well as its energy-curable inks in North America, effective May 15, 2019. A global shortage of photo-initiators will cause prices of energy-curable coatings and energy-curable inks to increase, while cost escalations in energy and raw materials throughout the first quarter of 2019 will drive the need to increase the prices of solvent and water coatings, said the company.
“Government initiatives and regulations geared toward environmental protections have caused many suppliers of photo-initiators to either cease or reduce production for limited periods of time, resulting in an unprecedented increase in raw material costs and shortage of photo-initiators,” said Felipe Mellado, Chief Marketing Officer and Board Member at Sun Chemical. “The activities that occurred in 2018 have continued to affect supply of photo-initiators into 2019, and with the recent chemical plant explosion and fires at the Yancheng Industrial Park in China, we anticipate future escalations in the cost of raw materials for energy-curable, publication, solvent and water inks. We will continue to monitor the dynamics in China to safeguard supply and search for viable alternative technologies. However, we anticipate the need to pass any raw material increases through to the market via future additional price actions across our portfolio of technologies,” he added.