ASEAN: Printing Ink Market 2024

Printing Ink Market Size in ASEAN

The ASEAN printing ink market declined to $X in 2022, leveling off at the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Printing Ink Production in ASEAN

In value terms, printing ink production declined modestly to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 15% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Printing Ink Exports

Exports in ASEAN

In 2022, the amount of printing ink exported in ASEAN reduced to X tons, which is down by -6.1% against the year before. The total export volume increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 14%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, printing ink exports dropped to $X in 2022. The total export value increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 22%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Singapore (X tons), distantly followed by Indonesia (X tons), Malaysia (X tons), the Philippines (X tons) and Thailand (X tons) were the main exporters of printing ink, together generating 97% of total exports. Vietnam (X tons) held a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +23.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the largest printing ink supplier in ASEAN, comprising 53% of total exports. The second position in the ranking was held by Indonesia ($X), with a 17% share of total exports. It was followed by the Philippines, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore stood at +1.5%. In the other countries, the average annual rates were as follows: Indonesia (+12.6% per year) and the Philippines (+1.4% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, almost unchanged from the previous year. Overall, the export price continues to indicate a noticeable decrease. The pace of growth appeared the most rapid in 2017 when the export price increased by 11% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+1.5%), while the other leaders experienced a decline in the export price figures.

Printing Ink Imports

Imports in ASEAN

In 2022, overseas purchases of printing ink increased by 3.7% to X tons for the first time since 2019, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when imports increased by 9.9% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, printing ink imports shrank to $X in 2022. The total import value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 7.4% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Vietnam (X tons), Indonesia (X tons), Malaysia (X tons), Singapore (X tons), Thailand (X tons) and the Philippines (X tons) represented roughly 94% of total imports in 2022. It was distantly followed by Myanmar (X tons), comprising a 4.9% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Myanmar (with a CAGR of +4.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest printing ink importing markets in ASEAN were Thailand ($X), Indonesia ($X) and Malaysia ($X), together comprising 55% of total imports. Vietnam, Singapore, the Philippines and Myanmar lagged somewhat behind, together comprising a further 44%.

The Philippines, with a CAGR of +8.9%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, which is down by -8.3% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the import price increased by 8%. The level of import peaked at $X per ton in 2021, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+4.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform