Asia: Ink Market 2024

Ink Market Size in Asia

In 2021, the Asian ink market decreased by less than 0.1% to $X for the first time since 2016, thus ending a four-year rising trend. The market value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X, leveling off in the following year.

Ink Production in Asia

In value terms, ink production declined modestly to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the production volume increased by 15% against the previous year. The level of production peaked at $X in 2020, and then declined modestly in the following year.

Ink Exports

Exports in Asia

In 2021, approx. X tons of inks (excluding printing ink) were exported in Asia; surging by 15% on the previous year's figure. Overall, exports showed a modest expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, ink exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, recording X tons, which was near 54% of total exports in 2021. Japan (X tons) ranks second in terms of the total exports with a 7.2% share, followed by Singapore (6.5%), South Korea (5.8%) and Hong Kong SAR (5.3%). The Philippines (X tons), Malaysia (X tons), India (X tons), Taiwan (Chinese) (X tons) and Turkey (X tons) held a minor share of total exports.

Exports from China increased at an average annual rate of +5.7% from 2012 to 2021. At the same time, the Philippines (+26.5%), South Korea (+6.3%), Turkey (+6.2%) and Japan (+2.7%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in Asia, with a CAGR of +26.5% from 2012-2021. Hong Kong SAR experienced a relatively flat trend pattern. By contrast, Singapore (-1.3%), India (-1.6%), Taiwan (Chinese) (-5.5%) and Malaysia (-11.1%) illustrated a downward trend over the same period. China (+18 p.p.), the Philippines (+3.9 p.p.) and South Korea (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while Singapore, Taiwan (Chinese) and Malaysia saw its share reduced by -1.5%, -1.9% and -9.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Singapore ($X) and Japan ($X) were the countries with the highest levels of exports in 2021, with a combined 64% share of total exports. These countries were followed by Malaysia, Hong Kong SAR, South Korea, the Philippines, Taiwan (Chinese), India and Turkey, which together accounted for a further 31%.

In terms of the main exporting countries, the Philippines, with a CAGR of +22.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, picking up by 8.2% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 12%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+8.9%), while the other leaders experienced more modest paces of growth.

Ink Imports

Imports in Asia

In 2021, the amount of inks (excluding printing ink) imported in Asia surged to X tons, rising by 22% on the year before. The total import volume increased at an average annual rate of +3.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, ink imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons), distantly followed by Singapore (X tons), Vietnam (X tons), Indonesia (X tons), Thailand (X tons) and India (X tons) were the key importers of inks (excluding printing ink), together generating 73% of total imports. The Philippines (X tons), the United Arab Emirates (X tons), Turkey (X tons), Bangladesh (X tons), Malaysia (X tons), South Korea (X tons) and Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Indonesia (with a CAGR of +16.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ink importing markets in Asia were China ($X), Singapore ($X) and Indonesia ($X), together comprising 53% of total imports.

Indonesia, with a CAGR of +24.8%, recorded 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

The import price in Asia stood at $X per ton in 2021, increasing by 8.8% against the previous year. In general, the import price, however, showed a noticeable downturn. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+6.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :