SCREENPRINT PRICE INCREASE

Higher raw material, transportation costs are driving the latest round of price increases, and there are likely more to come.

To our loyal customers, phriends, and family, we want to update you on the ongoing price increases throughout the printing industry. Maintaining current screenprint pricing and adhering to our strict beliefs of producing top-quality products Team Phun is known for has been a constant challenge this year.

With ongoing industry issues that have led to rising ink costs, we’re about to see an average of 10-15% increase in screen printing pricing this September.

Earlier this year, the National Association of Printing Ink Manufacturers (NAPIM) discussed its concerns about the ink industry’s challenges. “The printing ink industry in North America is facing unprecedented challenges in raw material feedstocks, supplies, and freight,” wrote John Copeland, executive director of NAPIM. “Virtually all raw material families for the printing ink industry, including oil, energy curable, solvent, and water-based systems, have been greatly impacted.” (Read more here)

In times like these, companies typically have three options on how to offset costs:

• Raise prices

• Increase efficiency

• Absorb the costs

Typically, companies will use a combination of all three when facing supply chain issues. In the most recent State of the Industry Survey, key printing companies were asked to give their percentage breakdown of each, and it was found that most of these costs are offset by raising their prices.