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.
The 2023 Top International Ink Companies Rankings
(Ink and Graphic Arts Sales)
DIC/Sun Chemical $4.1 billion
Flint Group $1.88 billion
Sakata INX $1.57 billion
Siegwerk Group $1.46 billion
Toyo Ink $1.21 billion
hubergroup $860 million
ALTANA AG $400 million*
Fujifilm North America $400 million*
SICPA $400 million*
T&K Toka $333 million
Kao $300 million*
Dainichiseika Color $219 million
EFI $200 million*
Nazdar $200 million*
Wikoff Color $200 million*
DuPont $185 million*
Yip’s Chemical $171 million
Sanchez SA de CV $150 million
CRT, a Division of Quad Graphics $145 million*
UFlex $140 million*
HP $125 million*
Marabu GmbH & Co. KG $105 million *
Tokyo Printing Ink $104 million
Zeller+Gmelin $100 million*
Central Ink $90 million
DEERS I/Daihan Ink $90 million*
Doneck Euroflex S.A. $87 million
Shenzhen Inkbank $77 million
Epple Druckfarben $50 million*
Ink Systems $50 million
International Paper $50 million*
* Ink World estimate