Duluth, Minnesota-based image transfer products company IKONICS Imaging announces its plans to enter the dye sublimation market.
The company says it has received a $258,000 purchase order for SubTHAT!, a new, internally developed product for the dye-sub market.
“Dye sublimation is an exciting new market for us, and we are entering it with a unique patent-pending technology that gives the customer capabilities beyond what are currently available,” says Bill Ulland, IKONICS CEO. “Dye sublimation is a dynamic and growing market that complements our IKONICS Imaging abrasive etching technology. SubTHAT! was a year in development by our chemists and is manufactured in Duluth.”
Ulland goes on to say that he believes the market potential for its product category is approximately $2 million per year worldwide with 60 percent of that being in the U.S. He also cites a report by a major industry supplier to the market that estimates the dye sublimation will grow at a rate of 20 percent per year through 2021.
To distribute SubTHAT! IKONICS’ is using JDS Industries, which it calls one of the largest domestic suppliers to the dye sublimation industry. Ulland also notes that IKONICS is currently introducing SubTHAT! to the export market and is investigating industrial applications.