GCC: Black Printing Ink Market 2024

Black Printing Ink Market Size in GCC

The GCC black printing ink market reduced modestly to $X in 2022, falling by -1.9% against the previous year. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Black Printing Ink Production in GCC

In value terms, black printing ink production contracted modestly to $X in 2022 estimated in export price. The total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.5% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 52%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Black Printing Ink Exports

Exports in GCC

In 2022, after two years of decline, there was significant growth in overseas shipments of black printing ink, when their volume increased by 26% to X tons. Overall, exports, however, saw a perceptible slump. The pace of growth appeared the most rapid in 2017 with an increase of 135%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, black printing ink exports rose remarkably to $X in 2022. In general, exports, however, showed a noticeable decrease. The most prominent rate of growth was recorded in 2017 with an increase of 162%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Saudi Arabia was the main exporter of black printing ink in GCC, with the volume of exports reaching X tons, which was approx. 59% of total exports in 2022. The United Arab Emirates (X tons) held a 35% share (based on physical terms) of total exports, which put it in second place, followed by Oman (5.2%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Oman (with a CAGR of +41.8%), while the other leaders experienced a decline in the exports figures.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Oman ($X) constituted the countries with the highest levels of exports in 2022, with a combined 98% share of total exports.

Oman, with a CAGR of +34.1%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, with a decrease of -10.5% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 61% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman ($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 Arab Emirates (+3.3%), while the other leaders experienced a decline in the export price figures.

Black Printing Ink Imports

Imports in GCC

In 2022, after two years of decline, there was growth in purchases abroad of black printing ink, when their volume increased by 2.8% to X tons. Over the period under review, imports, however, continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2019 when imports increased by 24%. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, black printing ink imports expanded to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 33%. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) was the key importer of black printing ink, mixing up 59% of total imports. Saudi Arabia (X tons) ranks second in terms of the total imports with a 22% share, followed by Kuwait (8.4%) and Oman (5.9%). Qatar (X tons) held a relatively small share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the black printing ink imports, with a CAGR of -3.2% from 2012 to 2022. Oman (-3.9%), Saudi Arabia (-5.4%), Kuwait (-10.4%) and Qatar (-14.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates increased by +12 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported black printing ink in GCC, comprising 56% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 27% share of total imports. It was followed by Qatar, with a 5.3% share.

In the United Arab Emirates, black printing ink imports increased at an average annual rate of +2.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Saudi Arabia (+0.6% per year) and Qatar (-3.2% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, leveling off at the previous year. Import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, black printing ink import price decreased by -0.8% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the import price increased by 62%. The level of import peaked at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Qatar ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+13.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform