2023 Top International Ink Companies Report

Even before the COVID-19 pandemic, the ink industry was under pressures from all sides, from an evolving printing industry with the publication and commercial side rapidly declining to assorted raw materials such as titanium dioxide, photointitators and pigments facing significant supply issues. The fluctuating cost of crude oil also played havoc with purchasing departments.

The COVID-19 pandemic accelerated the supply chain challenges, as key suppliers were forced to shut down and transportation and logistics became even more constrained. To meet future demand, inventory levels were set higher up and down the supply chain, and once order was restored, companies still had a backlog. The global economy and the war in the Ukraine further upended supply chains.

However, there is some good news in 2023, with a caveat, of course.

In our Top Ink Companies Report, ink industry leaders report that the situation with raw materials has stabilized somewhat, albeit at higher levels than previously. Supply of the vast majority of materials is no longer an issue, and price increases have slowed.

On the sales front, the top ink companies generally reported that they saw some growth during 2022, with more growth so far in 2023. The decline in the publication and commercial markets is still ongoing, but ink companies in those segments have adapted to the situation. Meanwhile, packaging and digital printing are strong.

That bring us to the caveat I mentioned. All of this – stable raw material availability, growth in ink sales – is contingent on the economy. No one knows where that is headed. Hopefully, we will see further stability throughout the year.