Croatia: Printing Ink Market 2024

Printing Ink Market Size in Croatia

The Croatian printing ink market shrank modestly to $X in 2022, dropping by -5% against the previous year. The market value increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. Over the period under review, the market hit record highs at $X in 2021, and then contracted modestly in the following year.

Printing Ink Production in Croatia

In value terms, printing ink production contracted to $X in 2022 estimated in export price. Over the period under review, production recorded a perceptible downturn. The growth pace was the most rapid in 2017 when the production volume increased by 72%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Printing Ink Exports

Exports from Croatia

In 2022, shipments abroad of printing ink increased by 45% to X tons, rising for the fourth consecutive year after two years of decline. Overall, exports showed buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, printing ink exports skyrocketed to $X in 2022. Over the period under review, exports showed resilient growth. The most prominent rate of growth was recorded in 2014 when exports increased by 42% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Slovenia (X tons) was the main destination for printing ink exports from Croatia, with a 68% share of total exports. Moreover, printing ink exports to Slovenia exceeded the volume sent to the second major destination, Hungary (X tons), fivefold. Bosnia and Herzegovina (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Slovenia stood at +55.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+61.7% per year) and Bosnia and Herzegovina (-3.9% per year).

In value terms, Slovenia ($X) remains the key foreign market for printing ink exports from Croatia, comprising 49% of total exports. The second position in the ranking was held by Hungary ($X), with an 18% share of total exports. It was followed by Serbia, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Slovenia stood at +46.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+51.1% per year) and Serbia (+27.0% per year).

Export Prices by Country

In 2022, the average printing ink export price amounted to $X per ton, shrinking by -14.2% against the previous year. In general, export price indicated a slight increase from 2012 to 2022: its price 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. Based on 2022 figures, printing ink export price decreased by -39.5% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 26%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to Slovenia ($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 Serbia (+11.7%), while the prices for the other major destinations experienced mixed trend patterns.

Printing Ink Imports

Imports into Croatia

In 2022, approx. X tons of printing ink were imported into Croatia; with a decrease of -2.1% against the year before. The total import volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by 17% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then contracted in the following year.

In value terms, printing ink imports reached $X in 2022. The total import value increased at an average annual rate of +3.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by 13%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Germany (X tons), Italy (X tons) and Hungary (X tons) were the main suppliers of printing ink imports to Croatia, together accounting for 63% of total imports. Slovenia, Poland, Austria, France and Spain lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovenia (with a CAGR of +26.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest printing ink suppliers to Croatia were Germany ($X), Hungary ($X) and Italy ($X), with a combined 57% share of total imports. Slovenia, Poland, Austria, France and Spain lagged somewhat behind, together accounting for a further 27%.

In terms of the main suppliers, Slovenia, with a CAGR of +25.1%, saw 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 printing ink import price stood at $X per ton in 2022, with an increase of 3.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2018 when the average import price increased by 11% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

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 France ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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