ME Discussion 3 Essay Example | Topics and Well Written Essays - 250 words

ME Discussion 3 - Essay Example Due to increase in price of crude oil which is the key element for inks manufacturing and technological advancements, the revenue of organizations has been severely impacted (Jailing, 2011). Considering the developments taking place at an accelerating rate worldwide in ink industry, the prices of these products will increase which will affect the demand of this product. For the company being reviewed, firm’s elasticity of demand for this product is elastic as increase in price will affect the demand of ink in digital printing industry. There is high demand of inks that are suitable for high value digital industry along with energy cured inks. The market for this ink comprises of packaging and commercial printing and publishing companies. In future i.e. next five years, it is expected that demand of sleek magazines and catalog will increase which will mean that there will be increase demand of ink systems that are energy curable along with usage of equipments for printing presses that are fast and automated. Two types of inks are gaining popularity i.e. water-based inks and vegetable oil based inks to support production of environmental friendly products so that ecological pollution can be minimized. It is expected that demand of digital inks will increase by 3.7% in next five years i.e. 2017 (Electronics Industry, 2012). The increase in demand is expected because of increasing requirement of technology that has in screen-printing feature, establishment of departments responsible for internal graphics that facilitate professional level of quality, computer usage will get tripled in future and in-house printing needs are being required both small and large scale companies. The digital inks segment will see acceleratin g growth in future because of exponential expansion of inkjet printing (Electronics Industry, 2012). Electronics Industry (2012, January 10). Global