Ghana: Black Printing Ink Market 2024

Black Printing Ink Market Size in Ghana

The Ghanian black printing ink market expanded markedly to $X in 2022, increasing by 7.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Black Printing Ink Exports

Exports from Ghana

In 2022, shipments abroad of black printing ink decreased by -22.8% to X kg for the first time since 2016, thus ending a five-year rising trend. Overall, exports, however, posted a moderate expansion. The growth pace was the most rapid in 2013 with an increase of 1,488%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, black printing ink exports expanded significantly to $X in 2022. Over the period under review, exports, however, saw a prominent expansion. The pace of growth was the most pronounced in 2013 when exports increased by 2,150% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Angola (X kg) was the main destination for black printing ink exports from Ghana, with a 91% share of total exports. Moreover, black printing ink exports to Angola exceeded the volume sent to the second major destination, Cameroon (X kg), more than tenfold. The third position in this ranking was taken by Togo (X kg), with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Angola stood at +30.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cameroon (-10.7% per year) and Togo (-12.9% per year).

In value terms, Angola ($X) remains the key foreign market for black printing ink exports from Ghana, comprising 90% of total exports. The second position in the ranking was held by Cameroon ($X), with a 5.4% share of total exports. It was followed by Togo, with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Angola totaled +23.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cameroon (+10.6% per year) and Togo (-8.0% per year).

Export Prices by Country

The average black printing ink export price stood at $X per ton in 2022, picking up by 46% against the previous year. Overall, the export price recorded a resilient increase. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cameroon ($X per ton), while the average price for exports to Cote d'Ivoire ($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 Cameroon (+23.8%), while the prices for the other major destinations experienced mixed trend patterns.

Black Printing Ink Imports

Imports into Ghana

In 2022, the amount of black printing ink imported into Ghana rose modestly to X tons, with an increase of 3.8% compared with 2021. Over the period under review, imports, however, recorded a mild shrinkage. The pace of growth appeared the most rapid in 2020 when imports increased by 93% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, black printing ink imports totaled $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 137% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of black printing ink to Ghana, accounting for a 27% share of total imports. Moreover, black printing ink imports from India exceeded the figures recorded by the second-largest supplier, Kenya (X tons), twofold. Spain (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from India stood at +16.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Kenya (+64.3% per year) and Spain (-0.7% per year).

In value terms, India ($X), the United Arab Emirates ($X) and Thailand ($X) appeared to be the largest black printing ink suppliers to Ghana, with a combined 39% share of total imports. Kenya, Spain, Poland, Mauritius, China, Nigeria, the UK, South Korea, Hong Kong SAR and Belgium lagged somewhat behind, together accounting for a further 19%.

In terms of the main suppliers, Poland, with a CAGR of +71.7%, recorded 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

In 2022, the average black printing ink import price amounted to $X per ton, picking up by 5.2% against the previous year. Over the period under review, import price indicated a mild 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, black printing ink import price increased by +83.5% against 2018 indices. The most prominent rate of growth was recorded in 2014 an increase of 44% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

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 South Korea ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+38.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform