Cincinnati, OH – Due to supply shortages and continued cost increases of the raw materials used to manufacture Phthalocyanine Blue and Green pigments, Sun Chemical Performance Pigments will raise global prices for Phthalocyanine Blue dry pigments up to $0.65 per pound, Phthalocyanine Green dry pigments by $0.85 per pound, and all other physical forms including preparations depending on pigment content, effective immediately.
"We continue to see a challenging marketplace where supply shortages and increasing demand across the chemical industry are leading to significant increases in raw material prices," said Mehran Yazdani, Vice President Marketing, Sun Chemical Performance Pigments. "At Sun Chemical Performance Pigments, we continue to work on controlling our own costs closely with our supply chain partners and improve our internal operations. While these efforts have helped to offset some of the rising raw material costs, current market conditions have forced us to pass some of these costs on to our customers."
The price increase applies to all markets that purchase pigments including the ink, coating, and plastic industries.