It has been a tough year for the printing consumables industry in 2021. The changes in the environment surrounding the industry create a new structure and circumstances (a “new normal”). More people started to work from home due to the impact of lockdown while their lifestyles as consumers have also been forced to change dramatically.

The impact on the economy has been hard enough that some say it will take about two years to recover. Staying at home and not going out to the other countries made online purchasing spread widely and trade fair becomes online live to communicate.

There are also other factors affecting the industry while driving the product prices to continue to grow in 2021.

- Shortages in key materials:

There have been shortages in the raw material supply. Pigments, resins, solvents, photoinitiators, and rollers are among the key materials that are skyrocketing.

The outbreak of COVID-19 and the sanctions the U.S. imposed on major Chinese chip-makers are the two main factors contributing to chip shortage in China (RT World). Steel prices continue to increase reflected in both the cost and supply which drives the roller prices to increase as well.

- Transportation and logistics: 

10% of shipping remains unable to dock due to a variety of issues, and once the products actually reach ports, they are delayed. Then there are containers for shipping products, which are scarce and naturally extra costly. Back in March, EuPIA reported that prices of containers between China and Europe have risen more than 400% since Q4 2020 (Ink world).

Pic sources: https://palline.com.sg/service/transport-logistics-services/