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While stability continues for the ink industry, customer mergers are picking up.
As has been the case for the past two years, “stability” is a word that can describe the current state of the ink industry. The pandemic is now a few years behind us. The dire raw material situation has finally arrived at a new normal for the most part. The ink industry has been able to navigate most of the geopolitical and economic concerns, from the Middle East and Red Sea to Ukraine and Russia as well as a global economic slowdown.
The past year has been a quiet one in terms of mergers and acquisitions on the ink side, with the top companies all remaining rather silent. The supplier side has also been fairly stable. Meanwhile, the packaging and digital ink segments continues to grow, while the publication and commercial side declines.
With all of this being said, it should be noted that the printing industry is undergoing a significant wave of consolidation on the packaging side that can impact the ink industry as well as its other suppliers. In September 2023, Smurfit Kappa and WestRock signed an agreement to combine their companies into Smurfit WestRock, which, if the merger goes through, would create a company with adjusted annual revenue of approximately $34 billion as of June 2023.
In April 2024, International Paper and DS Smith Plc announced they reached an agreement to combine their companies; pro forma 2023 combined revenues were approximately $28.2 billion.
And on the metal packaging side, Sonoco Products Company announced plans in June 2024 to acquire Eviosys, Europe’s leading food cans, ends and closures producer, which had $2.5 billion in sales in 2023.
The result of these three huge mergers, should they go through, will have an impact on the ink industry. It remains to be seen how all of this will shake out.
David Savastano
Ink World Editor
dsavastano@rodmanmedia.com
The 2024 Top International
Ink Companies Rankings
(Ink and Graphic Arts Sales)
DIC/Sun Chemical – $4.1 billion
Flint Group – $1.63 billion
Sakata INX – $1.56 billion
Siegwerk Group – $1.36 billion
artience Co., Ltd. – $1.03 billion
hubergroup – $860 million *
ALTANA AG – $400 million *
Fujifilm North America – $400 million *
SICPA – $400 million *
Kao – $300 million *
T&K Toka – $300 million*
EFI – $200 million*
Nazdar – $200 million*
Wikoff Color – $200 million*
Dainichiseika Color – $195 million
DuPont – $185 million*
Sanchez SA de CV – $169 million
Yip’s Chemical – $155 million
HP – $150 million*
CRT, a Division of Quad Graphics – $140 million*
Marabu GmbH & Co. KG – $140 million
UFlex – $140 million*
Tokyo Printing Ink – $100 million
Zeller+Gmelin – $100 million*
Central Ink – $90 million
DEERS I/Daihan Ink – $90 million*
Doneck Euroflex S.A. – $87 million
Shenzhen INKBANK – $82 million
Epple Druckfarben – $50 million*
Ink Systems – $50 million*
International Paper – $50 million*
* Ink World estimate
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