Estonia: Printing Ink Market 2024

Printing Ink Market Size in Estonia

In 2022, the Estonian printing ink market decreased by -10.4% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption saw a mild setback. Printing ink consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Printing Ink Exports

Exports from Estonia

In 2022, approx. X tons of printing ink were exported from Estonia; falling by -37.2% compared with 2021 figures. In general, exports, however, recorded a strong expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 154% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, printing ink exports declined rapidly to $X in 2022. Overall, exports, however, showed a strong increase. The pace of growth appeared the most rapid in 2013 with an increase of 181%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Russia (X tons) was the main destination for printing ink exports from Estonia, accounting for a 47% share of total exports. Moreover, printing ink exports to Russia exceeded the volume sent to the second major destination, Finland (X tons), twofold. The third position in this ranking was taken by Ukraine (X tons), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia totaled +7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (+35.6% per year) and Ukraine (+16.0% per year).

In value terms, Russia ($X) remains the key foreign market for printing ink exports from Estonia, comprising 58% of total exports. The second position in the ranking was held by Latvia ($X), with a 16% share of total exports. It was followed by Finland, with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia amounted to +15.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+0.5% per year) and Finland (+38.3% per year).

Export Prices by Country

In 2022, the average printing ink export price amounted to $X per ton, flattening at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The growth pace was the most rapid in 2018 an increase of 21%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Ukraine ($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 Russia (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Printing Ink Imports

Imports into Estonia

In 2022, purchases abroad of printing ink decreased by -11.6% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports continue to indicate a mild setback. The most prominent rate of growth was recorded in 2021 when imports increased by 16% against the previous year. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, printing ink imports dropped to $X in 2022. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 23% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Finland (X tons), Poland (X tons) and the Netherlands (X tons) were the main suppliers of printing ink imports to Estonia, with a combined 78% share of total imports. Germany, Sweden, the UK and the Czech Republic lagged somewhat behind, together comprising a further 15%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +51.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Finland ($X) and Germany ($X) appeared to be the largest printing ink suppliers to Estonia, together accounting for 57% of total imports. The Netherlands, the UK, the Czech Republic and Sweden lagged somewhat behind, together accounting for a further 23%.

The Czech Republic, with a CAGR of +55.0%, recorded the highest rates of growth with regard to 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 printing ink import price amounted to $X per ton, declining by -1.8% 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 2017 when the average import price increased by 8.7% against the previous year. The import price peaked at $X per ton in 2021, and then fell slightly 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 UK ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+9.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform