India: Color Printing Ink Market 2024

Color Printing Ink Market Size in India

The Indian color printing ink market reached $X in 2022, approximately mirroring the previous year. The market 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 in certain years. Color printing ink consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Color Printing Ink Production in India

In value terms, color printing ink production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of 12% against the previous year. Color printing ink production peaked at $X in 2020; afterwards, it flattened through to 2022.

Color Printing Ink Exports

Exports from India

Color printing ink exports from India dropped to X tons in 2022, falling by -12.3% against the previous year. In general, total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +9.9% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 28%. Over the period under review, the exports attained the maximum at X tons in 2021, and then reduced in the following year.

In value terms, color printing ink exports expanded slightly to $X in 2022. Over the period under review, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +9.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +40.9% against 2020 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 44%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Bangladesh (X tons), the United Arab Emirates (X tons) and Belgium (X tons) were the main destinations of color printing ink exports from India, together comprising 34% of total exports. Brazil, Nepal, the United States, Germany, Indonesia, Ghana, Russia, the Netherlands, Australia and Turkey lagged somewhat behind, together comprising a further 39%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +171.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for color printing ink exported from India were Bangladesh ($X), the United Arab Emirates ($X) and Belgium ($X), together accounting for 32% of total exports. Germany, Brazil, the United States, Nepal, Indonesia, Russia, Ghana, the Netherlands, Australia and Turkey lagged somewhat behind, together accounting for a further 39%.

In terms of the main countries of destination, the Netherlands, with a CAGR of +156.4%, saw the highest rates of growth with regard to 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

The average color printing ink export price stood at $X per ton in 2022, jumping by 17% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Nepal ($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 Germany (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Color Printing Ink Imports

Imports into India

In 2022, overseas purchases of color printing ink increased by 15% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +5.6% 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 +60.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 39% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, color printing ink imports rose sharply to $X in 2022. In general, imports enjoyed temperate growth. The most prominent rate of growth was recorded in 2017 with an increase of 85%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest color printing ink supplier to India, accounting for a 31% share of total imports. Moreover, color printing ink imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), twofold. South Korea (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 China amounted to +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+28.2% per year) and South Korea (+16.0% per year).

In value terms, the largest color printing ink suppliers to India were Singapore ($X), China ($X) and Japan ($X), together comprising 49% of total imports. The Philippines, the UK, the United States, South Korea, Taiwan (Chinese), Thailand, Germany, Sweden, Belgium and Malaysia lagged somewhat behind, together accounting for a further 43%.

Among the main suppliers, the Philippines, with a CAGR of +68.3%, recorded the highest rates of growth with regard to 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

The average color printing ink import price stood at $X per ton in 2022, standing approx. at the previous year. Over the period under review, the import price recorded a noticeable reduction. The most prominent rate of growth was recorded in 2017 an increase of 55% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2015; however, from 2016 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 States ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+14.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform