Ghana: Color Printing Ink Market 2024

Color Printing Ink Market Size in Ghana

The Ghanian color printing ink market stood at $X in 2022, picking up by 4.7% 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). Over the period under review, consumption saw a strong expansion. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Color Printing Ink Exports

Exports from Ghana

For the sixth consecutive year, Ghana recorded decline in overseas shipments of color printing ink, which decreased by 0% to X kg in 2022. In general, exports posted a tangible expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 544% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, color printing ink exports totaled $X in 2022. Overall, exports showed a abrupt slump. The growth pace was the most rapid in 2014 with an increase of 679%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Burkina Faso (X kg) was the main destination for color printing ink exports from Ghana, with a 86% share of total exports. Moreover, color printing ink exports to Burkina Faso exceeded the volume sent to the second major destination, Cote d'Ivoire (X kg), ninefold.

From 2012 to 2022, the average annual growth rate of volume to Burkina Faso stood at +17.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (+10.1% per year) and Nigeria (-25.0% per year).

In value terms, Burkina Faso ($X) remains the key foreign market for color printing ink exports from Ghana, comprising 63% of total exports. The second position in the ranking was taken by Nigeria ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Burkina Faso amounted to +20.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (-22.4% per year) and Cote d'Ivoire (-8.0% per year).

Export Prices by Country

In 2022, the average color printing ink export price amounted to $X per ton, rising by 12% against the previous year. In general, the export price, however, showed a deep contraction. The most prominent rate of growth was recorded in 2014 when the average export price increased by 21% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while the average price for exports to Cote d'Ivoire ($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 Nigeria (+3.5%), while the prices for the other major destinations experienced mixed trend patterns.

Color Printing Ink Imports

Imports into Ghana

In 2022, color printing ink imports into Ghana expanded markedly to X tons, surging by 7.5% against the previous year's figure. Overall, imports showed a buoyant expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 34% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, color printing ink imports totaled $X in 2022. In general, imports posted a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of 28% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, India (X tons) constituted the largest color printing ink supplier to Ghana, accounting for a 70% share of total imports. Moreover, color printing ink imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), tenfold. South Africa (X tons) ranked third in terms of total imports with a 4% share.

From 2012 to 2022, the average annual growth rate of volume from India amounted to +13.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+0.4% per year) and South Africa (+43.6% per year).

In value terms, India ($X) constituted the largest supplier of color printing ink to Ghana, comprising 64% of total imports. The second position in the ranking was taken by China ($X), with a 7.4% share of total imports. It was followed by South Africa, with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India amounted to +11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+4.0% per year) and South Africa (+29.6% per year).

Import Prices by Country

In 2022, the average color printing ink import price amounted to $X per ton, waning by -3.5% against the previous year. Over the period under review, the import price saw a noticeable descent. The most prominent rate of growth was recorded in 2015 when the average import price increased by 13% against the previous year. The import price peaked 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 Arab Emirates ($X per ton), while the price for Nigeria ($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 (+32.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform