Hungary: Color Printing Ink Market 2024

Color Printing Ink Market Size in Hungary

The Hungarian color printing ink market contracted to $X in 2022, dropping by -6.8% 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). The market value increased at an average annual rate of +1.0% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X, and then dropped in the following year.

Color Printing Ink Exports

Exports from Hungary

In 2022, overseas shipments of color printing ink were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports saw a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, color printing ink exports shrank to $X in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by 30% against the previous year. The exports peaked at $X in 2021, and then contracted in the following year.

Exports by Country

Austria (X tons), Croatia (X tons) and Slovenia (X tons) were the main destinations of color printing ink exports from Hungary, together accounting for 60% of total exports. Slovakia, Serbia, the Czech Republic, Turkey, Romania, Italy and North Macedonia lagged somewhat behind, together comprising a further 35%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +248.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Croatia ($X), Austria ($X) and Slovakia ($X) constituted the largest markets for color printing ink exported from Hungary worldwide, with a combined 40% share of total exports. Slovenia, Serbia, the Czech Republic, Turkey, Romania, Italy and North Macedonia lagged somewhat behind, together accounting for a further 32%.

Turkey, with a CAGR of +230.0%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination 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 color printing ink export price amounted to $X per ton, waning by -22.5% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average export price increased by 28% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average 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 Turkey ($X per ton), while the average price for exports to North Macedonia ($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 Serbia (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Color Printing Ink Imports

Imports into Hungary

In 2022, color printing ink imports into Hungary dropped modestly to X tons, remaining stable against the previous year. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 15%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, color printing ink imports reduced slightly to $X in 2022. The total import value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 24%. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest color printing ink supplier to Hungary, accounting for a 62% share of total imports. Moreover, color printing ink imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. The third position in this ranking was held by Luxembourg (X tons), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at -1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+5.3% per year) and Luxembourg (+25.7% per year).

In value terms, Germany ($X) constituted the largest supplier of color printing ink to Hungary, comprising 54% of total imports. The second position in the ranking was taken by Italy ($X), with a 17% share of total imports. It was followed by Luxembourg, with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+4.0% per year) and Luxembourg (+29.7% per year).

Import Prices by Country

The average color printing ink import price stood at $X per ton in 2022, which is down by -3.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2014 when the average import price increased by 16% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

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 Netherlands ($X per ton), while the price for Luxembourg ($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 Netherlands (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform