Hong Kong SAR, China: Printing Ink Market 2024

Printing Ink Market Size in Hong Kong SAR, China

The Hong Kong printing ink market contracted to $X in 2022, waning by -5.5% against the previous year. In general, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -21.0% against 2018 indices. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Printing Ink Production in Hong Kong SAR, China

In value terms, printing ink production declined slightly to $X in 2022 estimated in export price. Overall, production, however, recorded prominent growth. The pace of growth was the most pronounced in 2013 with an increase of 75%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Printing Ink Exports

Exports from Hong Kong SAR, China

In 2022, approx. X tons of printing ink were exported from Hong Kong SAR; reducing by -33.2% on 2021. In general, exports faced a drastic downturn. The pace of growth appeared the most rapid in 2013 with an increase of 23%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, printing ink exports reduced to $X in 2022. Over the period under review, exports recorded a noticeable setback. The most prominent rate of growth was recorded in 2021 when exports increased by 14%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for printing ink exports from Hong Kong SAR, with a 71% share of total exports. Moreover, printing ink exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), more than tenfold. The third position in this ranking was held by Bangladesh (X tons), with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to -14.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+8.9% per year) and Bangladesh (+12.6% per year).

In value terms, China ($X) remains the key foreign market for printing ink exports from Hong Kong SAR, comprising 77% of total exports. The second position in the ranking was held by Vietnam ($X), with a 4.6% share of total exports. It was followed by Japan, with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to -5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+14.5% per year) and Japan (+15.6% per year).

Export Prices by Country

In 2022, the average printing ink export price amounted to $X per ton, picking up by 31% against the previous year. Overall, the export price posted strong growth. The pace of growth was the most pronounced in 2014 an increase of 44%. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to India ($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 China (+11.1%), while the prices for the other major destinations experienced more modest paces of growth.

Printing Ink Imports

Imports into Hong Kong SAR, China

Printing ink imports into Hong Kong SAR dropped markedly to X tons in 2022, falling by -26.8% against the previous year's figure. Overall, imports saw a abrupt setback. The growth pace was the most rapid in 2018 with an increase of 24% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, printing ink imports declined to $X in 2022. In general, imports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2021 when imports increased by 17%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), Japan (X tons) and Spain (X tons) were the main suppliers of printing ink imports to Hong Kong SAR, with a combined 58% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +15.3%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Japan ($X) constituted the largest supplier of printing ink to Hong Kong SAR, comprising 45% of total imports. The second position in the ranking was taken by China ($X), with a 14% share of total imports. It was followed by the UK, with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (-8.6% per year) and the UK (+4.3% per year).

Import Prices by Country

The average printing ink import price stood at $X per ton in 2022, with an increase of 25% against the previous year. Over the period under review, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, printing ink import price increased by +105.8% against 2018 indices. The most prominent rate of growth was recorded in 2019 when the average import price increased by 37%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the near future.

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 Japan ($X per ton), while the price for Australia ($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 (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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