ASEAN: Ink-Pad Market 2024

Ink-Pad Market Size in ASEAN

In 2022, the ASEAN ink-pad market was finally on the rise to reach $X for the first time since 2015, thus ending a six-year declining trend. In general, consumption, however, recorded a abrupt contraction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Ink-Pad Production in ASEAN

In value terms, ink-pad production fell slightly to $X in 2022 estimated in export price. Over the period under review, production showed a abrupt decline. The pace of growth was the most pronounced in 2015 with an increase of 7.9%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Ink-Pad Exports

Exports in ASEAN

In 2022, overseas shipments of ink-pads increased by 4% to X units, rising for the third consecutive year after three years of decline. In general, exports, however, continue to indicate a abrupt setback. The growth pace was the most rapid in 2016 with an increase of 48%. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, ink-pad exports stood at $X in 2022. Overall, exports, however, continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2020 with an increase of 40% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Vietnam was the major exporting country with an export of about X units, which accounted for 44% of total exports. It was distantly followed by Malaysia (X units), Singapore (X units) and Thailand (X units), together mixing up a 54% share of total exports. Indonesia (X units) took a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +13.1%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Vietnam ($X) remains the largest ink-pad supplier in ASEAN, comprising 50% of total exports. The second position in the ranking was held by Thailand ($X), with a 21% share of total exports. It was followed by Malaysia, with a 15% share.

In Vietnam, ink-pad exports shrank by an average annual rate of -2.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Thailand (-5.3% per year) and Malaysia (-8.3% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2022, almost unchanged from the previous year. Overall, the export price, however, recorded a mild shrinkage. The growth pace was the most rapid in 2020 an increase of 18%. Over the period under review, the export prices attained the maximum at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per unit), while Indonesia (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+3.6%), while the other leaders experienced a decline in the export price figures.

Ink-Pad Imports

Imports in ASEAN

In 2022, the amount of ink-pads imported in ASEAN rose markedly to X units, picking up by 11% on the previous year's figure. Overall, imports, however, showed a abrupt curtailment. The pace of growth was the most pronounced in 2013 with an increase of 49%. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, ink-pad imports surged to $X in 2022. Over the period under review, imports, however, recorded a pronounced descent. The growth pace was the most rapid in 2018 with an increase of 49%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Indonesia was the key importer of ink-pads in ASEAN, with the volume of imports amounting to X units, which was approx. 53% of total imports in 2022. Malaysia (X units) ranks second in terms of the total imports with a 23% share, followed by Vietnam (9.9%) and Singapore (4.5%). The following importers - the Philippines (X units) and Thailand (X units) - together made up 6.9% of total imports.

Indonesia was also the fastest-growing in terms of the ink-pads imports, with a CAGR of +9.0% from 2012 to 2022. At the same time, Vietnam (+4.2%) and Malaysia (+2.3%) displayed positive paces of growth. By contrast, Thailand (-6.5%), Singapore (-12.6%) and the Philippines (-25.3%) illustrated a downward trend over the same period. While the share of Indonesia (+40 p.p.), Malaysia (+12 p.p.) and Vietnam (+6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Singapore (-5.8 p.p.) and the Philippines (-40.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X), Vietnam ($X) and Indonesia ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 78% of total imports.

Among the main importing countries, Indonesia, with a CAGR of +21.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2022, increasing by 22% against the previous year. Import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ink-pad import price increased by +72.1% against 2016 indices. The pace of growth appeared the most rapid in 2014 when the import price increased by 55% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+30.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform