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India’s Shiva Performance Materials Takes Over Japan’s Mitsui Toner Resin Technology.

Toner News Mobile › Forums › Toner News Main Forums › India’s Shiva Performance Materials Takes Over Japan’s Mitsui Toner Resin Technology.

Tonernews.com, November 18, 2025. USA
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    Shiva Performance Materials Pvt. Ltd. has entered into an exclusive technology licensing agreement with Japan’s Mitsui Chemicals Inc., ensuring the continued production of polyester toner resins previously manufactured by Mitsui. The deal covers the well-known ALMATEX™ and ALMASTAR™ resin brands, used globally as binder resins in printer and copier toner formulations.
    (Special thanks to our partners at spravnytoner.cz below for providing this article)

    Mitsui announced in 2024 that it would withdraw from the toner binder resin business by the first half of fiscal 2025, citing shrinking demand for printing, heightened price competition, and rising raw material costs. Rather than leaving the market without supply, the company opted to license its proprietary resin technology to Shiva, allowing production to continue under an exclusive arrangement.

    For Shiva, the agreement represents a significant expansion of its position in the specialty chemicals and toner materials sector, granting access to established Japanese technology and a global customer base. For toner manufacturers, the deal helps maintain stability in the supply chain at a time when multiple resin producers are restructuring or exiting the market. The partnership ensures that ALMATEX™ and ALMASTAR™ resins remain available worldwide—even as Mitsui steps back from manufacturing—supporting continued production of high-performance toner products.

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    November 18, 2025 at 1:38 PM
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