The past few years have witnessed a lot of volatility in the supply chain, beginning with the COVID-19 pandemic and continuing on afterward. There have been concerns in recent years over supply and costs of a range of key ingredients, including titanium dioxide and photoinitiators. For now, prices for raw materials have stabilized, although at higher costs.

“We believe that raw material supply remains highly volatile,” says Roland Schwoegler, chief procurement officer, Flint Group. “While some petrochemicals have stabilized, specialty ingredients and energy-intensive inputs remain scarce and expensive. Prices are structurally higher, delivery times are unreliable, and there is no return to pre-2020 norms.”

Anthony DeFrancesco, VP of integrated supply chain at INX International Ink Co., notes that the past 12 months have been a mix of volatility and stabilization across key raw materials. 

“Supply has largely improved, but pricing remains uneven depending on the category,” DeFrancesco says. “Crude volatility and regional refinery outputs are challenging in some markets, while others see direct costs tied to energy and environmental compliance. Overall, supply reliability has improved, but inflationary pressure and regional disparities in pricing reinforce procurement as being a top focus.”

Douglas Kidd, group procurement director, FUJIFILM Ink Solutions Group, reports that raw material supply and pricing remain extremely challenging. 

“While some products have seen price reductions, others continue to experience spikes,” Kidd notes. “Pigment supplies have remained tight and maintain premium pricing.”

Jeff Shaw, VP and chief supply chain officer, Sun Chemical, reports that raw materials and feedstocks have stabilized, leading to lower market volatility. However, there is one key exception: nitrocellulose.

“There has been some angst around the global nitrocellulose market with supplier consolidations and market strategy changes that impact the availability of industrial grades that are being compromised by increased production of military grades,” Shaw says.

Nitrocellulose

Nitrocellulose (NC) is an interesting chemical. It is manufactured from cellulose and a mixture of nitric acid and sulfuric acid; it is used for, among other things, munitions, and has been used as a replacement for gunpowder. Nitrocellulose is the raw material for, among other things, the charges for artillery shells. 

Interestingly, nitrocellulose is also a key ingredient for wood coatings and solvent-based packaging inks, as it quickly evaporates, allowing for faster press speeds. The supply of nitrocellulose has not been an issue for ink manufacturers, as it is produced in two different grades, one for printing and one for weaponry.

However, with the current geopolitical tensions, particularly in the Ukraine, and the US mandating that the EU countries start to take on more of their defense spending, the need for more weaponry has begun to impact nitrocellulose supply. 

This has led to key mergers among nitrocellulose suppliers, and costs are rising for non-military applications such as inks. As one example, Rheinmetall agreed to acquire Hagedorn-NC, a German producer of industrial nitrocellulose, in April 2025. Rheinmetall reportedly plans to convert Hagedorn-NC’s nitrocellulose production lines to military grade.

Shaw observes that the criticality of nitrocellulose supply is likely to intensify in 2026. 

“Opportunistic pricing may increase as suppliers react to market activities, and supply could tighten if more volumes are converted to military grades,” Shaw points out. “Securing supply is paramount to ensure uninterrupted ink supply to customers. More sustainable nitrocellulose alternatives have been introduced for some applications to enhance recyclability and reduce reliance on nitrocellulose.”

DeFrancesco says that nitrocellulose continues to be the standout pressure point. 

“Supply has tightened further this year in response to increased market sector demands outside of the print space,” DeFrancesco says. “When you mix in considerations to how tariffs can also weigh on demand pressures, things can change swiftly. You are no longer considering a single variable as a disruption, and those effects can vary widely across supply chains.”

 Schwoegler notes that nitrocellulose remains a top concern, and conditions have worsened. 

“Regulatory restrictions, hazardous transport risks, and prioritization of energetic grades mean industrial-grade nitrocellulose supply is severely constrained and increasingly unreliable,” he adds.

Other Materials of Concern

The good news is that most of the other troublesome raw materials seem stable. Shaw reports that there are no other supply challenges in the market currently.

“There is always some level of disruption, at least in the post-COVID supply chains, as it would seem,” DeFrancesco says. “Every year has brought forward a new variable or situation that continues to extend the learning potential of any good supply chain. I believe a strong procurement team should always have a watchlist, but as of the last week in August, there is nothing notable to share.” 

“The market is generally stable, although supplies remain tight,” Kidd notes.

Schwoegler notes that beyond nitrocellulose, Flint Group is closely monitoring several raw material categories facing pressure, including acrylic resins, photoinitiators, polyurethanes, carbon blacks, titanium dispersions, and polyamides. 

“All of these face shortages from consolidation, regulation, and energy costs,” adds Schwoegler. “Supply remains unpredictable, and prices are escalating.”

TiO2 and the Ink Industry

There have been plenty of regulatory headaches for ink industry executives. One such issue came when France tried to rule that titanium dioxide is a carcinogen. This attempt was recently halted by the EU Court of Justice.

“It does not appear there will be any significant impact, other than a few potential appeals of the decision by factions that still believe there is an issue with the chemistry. However, the evidence is weak and not supported by most industries and governing bodies,” Shaw says. 

“While the EU’s clarification of TiO₂ eased immediate fears, interpretations differ by member state, and regulatory pressure on pigments is only increasing,” notes Schwoegler. “While operational impacts remain limited for now, we continue to monitor upcoming REACH and CLP revisions closely. Relief is temporary; scrutiny and cost pressure will grow.”

“With the regulatory side now answered for, I expect things to stay relatively flat,” DeFrancesco says. “But energy costs do remain to be a key factor to watch.”

Tariffs and the Ink Industry

In early 2025, U.S. President Donald Trump began unveiling his ideas for tariffs. These tariff proposals are constantly being revised. The uncertainty is causing challenges for purchasing executives worldwide. 

Schwoegler says that tariffs are now one of the biggest disruptions to raw materials. 

“Sudden changes drive up landed costs, destroy pricing predictability, and force reactive sourcing,” Schwoegler adds. “Forward contracts are nearly impossible, making tariffs a structural barrier to stable supply chains.”

“Tariffs remain a planning challenge, and the unpredictability of trade negotiations between nations removes the luxury of long-term continuity within duty rates,” DeFrancesco says. 

“This creates difficulty in long-range cost forecasting and requires heavy regional redundancy within the playbook,” adds DeFrancesco. “Uncertainty within a supply chain always comes with a cost, regardless of the tariff allocated.”

“As a global manufacturer of high-performance inkjet products, we source our products worldwide to meet the highest quality standards,” Kidd notes. “Some of our sources are subject to the latest tariff increases, which has undoubtedly had an impact on our US manufacturing. This has resulted in unavoidable cost impacts on some of our products. We expect this situation to remain volatile.”

“Tariffs are a significant issue for our industry, as for most global markets, and the constant evolution of geographic negotiations makes it more challenging to develop strategies for recovery,” Shaw says. “Tariffs’ impact is far too great for most companies to simply absorb as a cost of doing business. Efforts to minimize the impact of tariffs through alternate sourcing is time consuming and influences current supply strategies in ways that were perhaps not considered prior to the tariffs. 

“Overall, much of this effort only accomplishes a mitigation of the total impact of tariffs and not a full elimination or even savings,” Shaw adds. “The tariffs also result in higher pricing from suppliers not impacted by the tariffs.” 

Logistics and Transportation

Logistics and transportation have been concerns in recent years, but they are improving. DeFrancesco says that logistics are notably improved from back in 2022, but pockets of disruption do remain. 

“Vessel reliability has improved, and container costs have normalized, but geopolitical tensions create chokepoints,” DeFrancesco says. “The Red Sea, the Strait of Hormuz, and the Panama Canal are still introducing delays and reroutes. Domestically, trucking availability is stable while fuel cost swings are persistent, but it has eased slightly since 2024.”

“This sector remains highly volatile and we don’t anticipate this changing anytime soon due to global macroeconomic dynamics,” Kidd says. 

“Continued instability in Europe and the Middle East poses significant challenges, impacting logistics, energy, and general supply,” Kidd adds. “Widespread shifts in sourcing from different regions, driven by improved pricing, increased availability, and reliable supply, are directly impacting shipment volumes, logistical routes, and container availability, creating ongoing uncertainty across the sector.”

“Global logistics have improved since the peak disruptions of 2021-2023, but challenges remain,” Schwoegler notes. “Ocean freight remains unstable, trucking costs are high, and hazardous classifications continue to restrict transport options. Lead times are unpredictable and inbound reliability is fragile.”

“Currently, logistics and transportation challenges have eased somewhat, primarily as global shippers track tariff fluctuations in international markets,” Shaw reports. “While shipping volumes may have decreased, there are still significant obstacles ahead, including geopolitical tensions, looming trade war threats and the overall impact of pricing on future operations. We regularly monitor and respond to maintain the flow of materials to our customers and Sun Chemical sites.”