Guatemala: Black Printing Ink Market 2024

Black Printing Ink Market Size in Guatemala

In 2022, the Guatemalan black printing ink market decreased by -1.2% to $X for the first time since 2018, thus ending a three-year rising trend. Overall, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +23.5% against 2015 indices. Black printing ink consumption peaked at $X in 2021, and then contracted slightly in the following year.

Black Printing Ink Exports

Exports from Guatemala

In 2022, shipments abroad of black printing ink increased by 15% to X tons, rising for the fourth consecutive year after four years of decline. In general, exports, however, continue to indicate a slight setback. The growth pace was the most rapid in 2021 when exports increased by 88% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, black printing ink exports surged to $X in 2022. Over the period under review, exports, however, recorded a noticeable reduction. The most prominent rate of growth was recorded in 2021 when exports increased by 50%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Nicaragua (X tons), Honduras (X tons) and the Dominican Republic (X tons) were the main destinations of black printing ink exports from Guatemala, together comprising 81% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Nicaragua (with a CAGR of +24.2%), while the other leaders experienced more modest paces of growth.

In value terms, Honduras ($X), Nicaragua ($X) and El Salvador ($X) appeared to be the largest markets for black printing ink exported from Guatemala worldwide, with a combined 79% share of total exports. The Dominican Republic, Ecuador, Peru and Costa Rica lagged somewhat behind, together accounting for a further 19%.

Among the main countries of destination, Peru, with a CAGR of +12.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average black printing ink export price amounted to $X per ton, with an increase of 5.2% against the previous year. Overall, the export price, however, saw a mild reduction. The most prominent rate of growth was recorded in 2017 when the average export price increased by 48%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to Nicaragua ($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 Chile (+14.7%), while the prices for the other major destinations experienced more modest paces of growth.

Black Printing Ink Imports

Imports into Guatemala

In 2022, after three years of growth, there was decline in overseas purchases of black printing ink, when their volume decreased by -4.4% to X tons. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 19% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, black printing ink imports expanded rapidly to $X in 2022. Overall, total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% 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 +79.0% against 2016 indices. The pace of growth was the most pronounced in 2021 when imports increased by 32%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

The United States (X tons), China (X tons) and El Salvador (X tons) were the main suppliers of black printing ink imports to Guatemala, with a combined 64% share of total imports. Mexico, Germany, South Korea and the UK lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +88.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of black printing ink to Guatemala, comprising 32% of total imports. The second position in the ranking was held by China ($X), with a 15% share of total imports. It was followed by El Salvador, with a 9.1% 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: China (+24.9% per year) and El Salvador (+10.0% per year).

Import Prices by Country

The average black printing ink import price stood at $X per ton in 2022, growing by 11% against the previous year. In general, import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +4.4% 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 +75.9% against 2015 indices. The pace of growth appeared the most rapid in 2016 an increase of 16%. Over the period under review, average import prices reached the maximum in 2022 and is likely to continue growth in the immediate term.

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 ($X per ton), while the price for Germany ($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 (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform