Indonesia: Ink Market 2024

Ink Market Size in Indonesia

In 2021, the Indonesian ink market increased by 23% to $X, rising for the fourth consecutive year after two years of decline. Over the period under review, consumption saw a strong increase. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the immediate term.

Ink Production in Indonesia

In value terms, ink production reduced remarkably to $X in 2021 estimated in export price. Overall, production recorded a perceptible decline. The most prominent rate of growth was recorded in 2019 when the production volume increased by 71%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Ink Exports

Exports from Indonesia

In 2021, shipments abroad of inks (excluding printing ink) increased by 37% to X tons, rising for the sixth consecutive year after three years of decline. In general, exports, however, recorded a abrupt slump. The growth pace was the most rapid in 2017 with an increase of 406% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, ink exports surged to $X in 2021. Over the period under review, exports showed a slight increase. The pace of growth appeared the most rapid in 2017 with an increase of 389% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

China (X tons), the UK (X tons) and the Netherlands (X tons) were the main destinations of ink exports from Indonesia, together accounting for 30% of total exports. These countries were followed by Germany, Finland, Spain, Bangladesh, the Philippines, Russia, South Africa, Poland, France and Thailand, which together accounted for a further 14%.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +141.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) remains the key foreign market for inks (excluding printing ink) exports from Indonesia, comprising 8.5% of total exports. The second position in the ranking was held by Spain ($X), with a 3.5% share of total exports. It was followed by the UK, with a 2.8% share.

From 2012 to 2021, the average annual growth rate of value to the Netherlands totaled -10.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+48.7% per year) and the UK (+34.0% per year).

Export Prices by Country

The average ink export price stood at $X per ton in 2021, with an increase of 21% against the previous year. Over the period under review, the export price posted prominent growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by 212%. The export price peaked in 2021 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Bangladesh ($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 Thailand (+22.7%), while the prices for the other major destinations experienced more modest paces of growth.

Ink Imports

Imports into Indonesia

After two years of decline, purchases abroad of inks (excluding printing ink) increased by 119% to X tons in 2021. Overall, imports saw a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 160%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, ink imports skyrocketed to $X in 2021. In general, imports saw significant growth. The most prominent rate of growth was recorded in 2018 when imports increased by 288% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

Singapore (X tons), China (X tons) and Japan (X tons) were the main suppliers of ink imports to Indonesia, with a combined 81% share of total imports. These countries were followed by India, Greece, South Korea and Hong Kong SAR, which together accounted for a further 13%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Greece (with a CAGR of +130.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constituted the largest supplier of inks (excluding printing ink) to Indonesia, comprising 67% of total imports. The second position in the ranking was taken by China ($X), with a 10% share of total imports. It was followed by Japan, with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Singapore totaled +62.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+28.8% per year) and Japan (+9.3% per year).

Import Prices by Country

In 2021, the average ink import price amounted to $X per ton, increasing by 36% against the previous year. Overall, the import price saw a strong expansion. The growth pace was the most rapid in 2018 when the average import price increased by 49%. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in years to come.

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 South Korea ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+18.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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