India: Ink Market 2024

Ink Market Size in India

The Indian ink market rose significantly to $X in 2021, picking up by 8.8% against the previous year. The market value increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 9.8% against the previous year. Ink consumption peaked in 2021 and is likely to see gradual growth in years to come.

Ink Production in India

In value terms, ink production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when the production volume increased by 13%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Ink Exports

Exports from India

In 2021, shipments abroad of inks (excluding printing ink) decreased by -6.1% to X tons, falling for the seventh year in a row after three years of growth. In general, exports saw a mild curtailment. The pace of growth appeared the most rapid in 2013 when exports increased by 51%. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, ink exports rose notably to $X in 2021. Overall, exports continue to indicate a slight curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 35% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Nepal (X tons), Bangladesh (X tons) and China (X tons) were the main destinations of ink exports from India, with a combined 29% share of total exports. These countries were followed by Indonesia, Nigeria, the United Arab Emirates, Turkey, Sri Lanka, Benin, Ethiopia, New Caledonia, Kenya and Tanzania, which together accounted for a further 34%.

From 2012 to 2021, the biggest increases were recorded for Ethiopia (with a CAGR of +17.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Bangladesh ($X) and Indonesia ($X) appeared to be the largest markets for ink exported from India worldwide, with a combined 23% share of total exports. The United Arab Emirates, Nepal, Nigeria, Turkey, New Caledonia, Sri Lanka, Benin, Kenya, Tanzania and Ethiopia lagged somewhat behind, together accounting for a further 29%.

Ethiopia, with a CAGR of +24.5%, saw the highest rates of growth with regard to 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

The average ink export price stood at $X per ton in 2021, growing by 17% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Nepal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to New Caledonia (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Ink Imports

Imports into India

In 2021, after four years of decline, there was significant growth in supplies from abroad of inks (excluding printing ink), when their volume increased by 39% to X tons. Overall, total imports indicated notable growth from 2012 to 2021: its volume increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, ink imports soared to $X in 2021. In general, total imports indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -33.0% against 2018 indices. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest ink supplier to India, with a 50% share of total imports. Moreover, ink imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), fivefold. South Korea (X tons) ranked third in terms of total imports with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+3.6% per year) and South Korea (-6.3% per year).

In value terms, China ($X) constituted the largest supplier of inks (excluding printing ink) to India, comprising 34% of total imports. The second position in the ranking was held by Germany ($X), with a 9.3% share of total imports. It was followed by Japan, with a 6% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.8% per year) and Japan (-4.0% per year).

Import Prices by Country

In 2021, the average ink import price amounted to $X per ton, falling by -1.8% against the previous year. In general, the import price showed a noticeable decrease. The pace of growth appeared the most rapid in 2018 when the average import price increased by 30% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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