The producer will raise prices of pigments and effects from 1 June
Sun Chemical, a producer of printing inks, coatings and pigments for the cosmetics market among others, has announced, with “regret”, it will be increasing costs associated with the production of organic and inorganic cosmetic pigments and effects as of 1 June.
Reasons behind the increase include significant reinvestment and expansion of Sun Chemical Performance Pigments’ manufacturing assets as well as expenditure on new technical and processing innovations and breakthrough R&D initiatives, the company explained.
“Unprecedented growing global demand for our high purity cosmetic pigments has necessitated Sun Chemical to significantly reinvest and expand our manufacturing assets,” said Myron Petruch, President, Sun Chemical Performance Pigments. “In addition, we continue to spend significantly more on new, highly sophisticated technical and processing innovations and breakthrough research and development initiatives. The results of these investments can be seen in the ever expanding and widening color palette and unique effects utilized in today’s global decorative cosmetics market."
Petruch added: “We also continue to see more stringent environmental, regulatory and compliance requirements for the cosmetics industry. These industry issues have significantly increased our costs, some of which we must partially pass along in the form of a price increase. We regret having to take this action and will continue to look at various cost control and efficiency measures, while ensuring the ability to meet the expanding needs of the global cosmetics market.”