Dominican Republic: Printing Ink Market 2024

Printing Ink Market Size in the Dominican Republic

In 2022, the Dominican printing ink market increased by 9.1% to $X, rising for the second year in a row after three years of decline. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Printing ink consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Printing Ink Exports

Exports from the Dominican Republic

In 2022, approx. X tons of printing ink were exported from the Dominican Republic; dropping by -64.3% on 2021 figures. Overall, exports saw a significant curtailment. The growth pace was the most rapid in 2020 with an increase of 498% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, printing ink exports dropped markedly to $X in 2022. Over the period under review, exports recorded a precipitous slump. The growth pace was the most rapid in 2020 with an increase of 677%. As a result, the exports attained 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 printing ink exports from the Dominican Republic, accounting for a 81% share of total exports. Moreover, printing ink exports to Haiti exceeded the volume sent to the second major destination, Jamaica (X kg), fivefold. Honduras (X kg) ranked third in terms of total exports with a 2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Haiti totaled -19.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jamaica (0.0% per year) and Honduras (+6.0% per year).

In value terms, Haiti ($X) remains the key foreign market for printing ink exports from the Dominican Republic, comprising 92% of total exports. The second position in the ranking was held by Honduras ($X), with a 3.7% share of total exports. It was followed by Jamaica, with a 0.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Haiti stood at -14.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (-6.4% per year) and Jamaica (0.0% per year).

Export Prices by Country

The average printing ink export price stood at $X per ton in 2022, dropping by -20.8% against the previous year. In general, the export price, however, recorded mild growth. The pace of growth was the most pronounced in 2020 when the average export price increased by 30% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Honduras ($X per ton), while the average price for exports to Jamaica ($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 Haiti (+6.8%), while the prices for the other major destinations experienced mixed trend patterns.

Printing Ink Imports

Imports into the Dominican Republic

In 2022, supplies from abroad of printing ink increased by 0.3% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, total imports indicated a slight increase from 2012 to 2022: its volume increased at an average annual rate of +1.8% 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 +9.3% against 2020 indices. The growth pace was the most rapid in 2017 when imports increased by 37%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, printing ink imports amounted to $X in 2022. The total import value increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2014 when imports increased by 24%. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the near future.

Imports by Country

Colombia (X tons), the United States (X tons) and Italy (X tons) were the main suppliers of printing ink imports to the Dominican Republic, together accounting for 70% of total imports.

From 2012 to 2022, the biggest increases were recorded for Colombia (with a CAGR of +20.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of printing ink to the Dominican Republic, comprising 41% of total imports. The second position in the ranking was held by Colombia ($X), with a 20% share of total imports. It was followed by China, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+15.9% per year) and China (+3.5% per year).

Import Prices by Country

In 2022, the average printing ink import price amounted to $X per ton, surging by 12% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2018 when the average import price increased by 55% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

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 ($X per ton), while the price for Italy ($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 (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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