Costa Rica: Printing Ink Market 2024

Printing Ink Market Size in Costa Rica

In 2022, the Costa Rican printing ink market increased by 17% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, saw a deep contraction. Printing ink consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Printing Ink Exports

Exports from Costa Rica

Printing ink exports from Costa Rica reduced remarkably to X tons in 2022, waning by -15.6% compared with 2021 figures. In general, exports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 213% against the previous year. The exports peaked at X tons in 2021, and then contracted notably in the following year.

In value terms, printing ink exports fell to $X in 2022. Overall, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 338% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then dropped in the following year.

Exports by Country

The United States (X tons) was the main destination for printing ink exports from Costa Rica, accounting for a 67% share of total exports. Moreover, printing ink exports to the United States exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +124.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+51.0% per year) and Nicaragua (-16.6% per year).

In value terms, the United States ($X) remains the key foreign market for printing ink exports from Costa Rica, comprising 67% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +110.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+61.8% per year) and Nicaragua (-12.7% per year).

Export Prices by Country

In 2022, the average printing ink export price amounted to $X per ton, leveling off at the previous year. Overall, the export price posted buoyant growth. The pace of growth appeared the most rapid in 2017 when the average export price increased by 40%. Over the period under review, the average export prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Nicaragua ($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 Netherlands (+7.2%), while the prices for the other major destinations experienced mixed trend patterns.

Printing Ink Imports

Imports into Costa Rica

In 2022, the amount of printing ink imported into Costa Rica dropped modestly to X tons, declining by -4.4% against the previous year. Over the period under review, imports recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2019 when imports increased by 35%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, printing ink imports contracted to $X in 2022. Overall, total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.8% 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 +58.0% against 2018 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 29% against the previous year. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

The United States (X tons), Mexico (X tons) and Peru (X tons) were the main suppliers of printing ink imports to Costa Rica, with a combined 50% share of total imports. El Salvador, Germany, Italy, China and Panama lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +66.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of printing ink to Costa Rica, comprising 44% of total imports. The second position in the ranking was held by Peru ($X), with an 8% share of total imports. It was followed by El Salvador, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+5.5% per year) and El Salvador (-0.8% per year).

Import Prices by Country

The average printing ink import price stood at $X per ton in 2022, with a decrease of -7.2% against the previous year. In general, import price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, printing ink import price increased by +57.4% against 2015 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 33% against the previous year. The import price peaked at $X per ton in 2021, and then dropped in the following year.

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 the United States ($X per ton), while the price for Mexico ($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 United States (+14.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform