Dominican Republic: Color Printing Ink Market 2024

Color Printing Ink Market Size in the Dominican Republic

In 2022, the Dominican color printing ink market increased by 5.8% to $X, rising for the second consecutive year after three years of decline. The market value increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Color printing ink consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Color Printing Ink Exports

Exports from the Dominican Republic

In 2022, approx. X tons of color printing ink were exported from the Dominican Republic; which is down by -68.7% on the previous year. Over the period under review, exports recorded a dramatic slump. The most prominent rate of growth was recorded in 2020 when exports increased by 339%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, color printing ink exports reduced rapidly to $X in 2022. In general, exports faced a precipitous contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 634%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Haiti (X tons) was the main destination for color printing ink exports from the Dominican Republic, with a 95% share of total exports. Moreover, color printing ink exports to Haiti exceeded the volume sent to the second major destination, Honduras (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Haiti totaled -21.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+7.5% per year) and Cuba (-55.0% per year).

In value terms, Haiti ($X) remains the key foreign market for color printing ink exports from the Dominican Republic, comprising 92% of total exports. The second position in the ranking was taken by Honduras ($X), with a 4.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Haiti stood at -15.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+16.7% per year) and Cuba (-64.8% per year).

Export Prices by Country

In 2022, the average color printing ink export price amounted to $X per ton, declining by -11.1% against the previous year. Over the period under review, the export price, however, saw moderate growth. The pace of growth was the most pronounced in 2020 an increase of 67%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Honduras ($X per ton), while the average price for exports to Cuba ($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 (+9.9%), while the prices for the other major destinations experienced more modest paces of growth.

Color Printing Ink Imports

Imports into the Dominican Republic

In 2022, the amount of color printing ink imported into the Dominican Republic dropped to X tons, waning by -3.1% against the previous year's figure. Overall, total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +3.6% 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 +6.4% against 2020 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 37% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, color printing ink imports expanded rapidly to $X in 2022. The total import value increased at an average annual rate of +2.6% 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 2014 with an increase of 26%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

Colombia (X tons), the United States (X tons) and Italy (X tons) were the main suppliers of color printing ink imports to the Dominican Republic, with a combined 73% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Colombia (with a CAGR of +20.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest color printing ink suppliers to the Dominican Republic were the United States ($X), Colombia ($X) and Italy ($X), together accounting for 66% of total imports.

Colombia, with a CAGR of +15.3%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average color printing ink import price amounted to $X per ton, with an increase of 14% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 61%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Italy ($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 (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform