Brands aren't the only one's being hit by price increases. Sun Chemical will increase prices across selected parts of its pigments, dyes and preparations portfolio, effective February 14, 2022, or as contracts allow. The price increase affects all market segments.
Continuous inflationary pressure and further price spikes for key raw materials continue to drive cost increases. Additionally, the strong impact of the global transportation crisis and inflation on the different components of the manufacturing process are worsening the situation.
“We need to take this action due to the current market conditions," said Stefan Sütterlin, president of Sun Chemical’s color materials division. "Sun Chemical values the relationship we have with our business partners, and we remain committed to the continuous cost and productivity improvement programs designed to keep our cost drivers under control and provide maximum value to our customers. However, the unprecedented magnitude and speed of increases in materials force us to pass on the higher cost to our customers.”