Belgium: Color Printing Ink Market 2024

Color Printing Ink Market Size in Belgium

In 2022, after two years of growth, there was significant decline in the Belgian color printing ink market, when its value decreased by -26.5% to $X. Over the period under review, consumption saw a relatively flat trend pattern. Color printing ink consumption peaked at $X in 2021, and then reduced markedly in the following year.

Color Printing Ink Production in Belgium

In value terms, color printing ink production contracted to $X in 2022 estimated in export price. Overall, production recorded a abrupt downturn. The most prominent rate of growth was recorded in 2021 when the production volume increased by 8.9% against the previous year. Color printing ink production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Color Printing Ink Exports

Exports from Belgium

Color printing ink exports from Belgium rose remarkably to X tons in 2022, increasing by 6.3% against 2021. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 72% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, color printing ink exports rose remarkably to $X in 2022. Over the period under review, total exports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -0.9% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 85% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for color printing ink exports from Belgium, with a 28% share of total exports. Moreover, color printing ink exports to Germany exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. The UK (X tons) ranked third in terms of total exports with an 8.1% share.

From 2012 to 2022, the average annual growth rate of volume to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-3.9% per year) and the UK (+3.9% per year).

In value terms, Germany ($X), France ($X) and the United States ($X) were the largest markets for color printing ink exported from Belgium worldwide, with a combined 33% share of total exports. The UK, the Netherlands, Poland, Spain, Brazil, Italy, Turkey, the Czech Republic, Austria and Egypt lagged somewhat behind, together accounting for a further 42%.

Brazil, with a CAGR of +81.7%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average color printing ink export price stood at $X per ton in 2022, almost unchanged from the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2017 an increase of 20% against the previous year. The export price peaked at $X per ton in 2018; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+11.8%), while the prices for the other major destinations experienced more modest paces of growth.

Color Printing Ink Imports

Imports into Belgium

After two years of growth, overseas purchases of color printing ink decreased by -13% to X tons in 2022. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +96.7% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 69% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then shrank in the following year.

In value terms, color printing ink imports dropped significantly to $X in 2022. In general, total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by 76% against the previous year. Imports peaked at $X in 2021, and then declined remarkably in the following year.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of color printing ink to Belgium, with a 50% share of total imports. Moreover, color printing ink imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was taken by Spain (X tons), with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Netherlands totaled +10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+3.2% per year) and Spain (+32.3% per year).

In value terms, the largest color printing ink suppliers to Belgium were Germany ($X), the Netherlands ($X) and Spain ($X), together comprising 74% of total imports.

In terms of the main suppliers, Spain, with a CAGR of +35.0%, recorded the highest growth rate of 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 average color printing ink import price stood at $X per ton in 2022, dropping by -12.9% against the previous year. In general, the import price recorded a pronounced contraction. The pace of growth appeared the most rapid in 2018 when the average import price increased by 10% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+4.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform