Iran: Printing Ink Market 2024

Printing Ink Market Size in Iran

The Iranian printing ink market reduced to $X in 2022, dropping by -11.4% 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). Over the period under review, consumption showed a slight decline. Printing ink consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Printing Ink Exports

Exports from Iran

In 2022, overseas shipments of printing ink increased by 167% to X tons, rising for the second consecutive year after three years of decline. Overall, exports saw a perceptible expansion. The growth pace was the most rapid in 2017 with an increase of 219% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, printing ink exports shrank modestly to $X in 2022. Over the period under review, exports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2017 with an increase of 68%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Armenia (X tons) was the main destination for printing ink exports from Iran, accounting for a 61% share of total exports. Moreover, printing ink exports to Armenia exceeded the volume sent to the second major destination, Azerbaijan (X tons), threefold. Uzbekistan (X tons) ranked third in terms of total exports with a 16% share.

From 2012 to 2022, the average annual growth rate of volume to Armenia totaled -2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Azerbaijan (+10.5% per year) and Uzbekistan (+581.1% per year).

In value terms, Armenia ($X) remains the key foreign market for printing ink exports from Iran, comprising 51% of total exports. The second position in the ranking was held by Uzbekistan ($X), with a 23% share of total exports. It was followed by Azerbaijan, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Armenia totaled -9.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uzbekistan (+938.0% per year) and Azerbaijan (+4.5% per year).

Export Prices by Country

In 2022, the average printing ink export price amounted to $X per ton, which is down by -64.3% against the previous year. Overall, the export price continues to indicate a abrupt descent. The pace of growth was the most pronounced in 2016 when the average export price increased by 50% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Azerbaijan ($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 Uzbekistan (+52.4%), while the prices for the other major destinations experienced mixed trend patterns.

Printing Ink Imports

Imports into Iran

In 2022, the amount of printing ink imported into Iran expanded slightly to X tons, with an increase of 1.7% against the previous year's figure. Overall, imports, however, continue to indicate a noticeable slump. The pace of growth was the most pronounced in 2015 with an increase of 82%. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, printing ink imports declined to $X in 2022. In general, imports, however, recorded a slight contraction. The most prominent rate of growth was recorded in 2015 when imports increased by 79% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Turkey (X tons) constituted the largest printing ink supplier to Iran, accounting for a 65% share of total imports. Moreover, printing ink imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was taken by Germany (X tons), with a 4.1% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey stood at +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-5.1% per year) and Germany (-14.1% per year).

In value terms, Turkey ($X) constituted the largest supplier of printing ink to Iran, comprising 50% of total imports. The second position in the ranking was taken by China ($X), with a 9.5% share of total imports. It was followed by Germany, with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey amounted to +14.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-4.4% per year) and Germany (-6.7% per year).

Import Prices by Country

The average printing ink import price stood at $X per ton in 2022, which is down by -12.6% against the previous year. In general, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +2.5% 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 +36.5% against 2016 indices. The growth pace was the most rapid in 2018 when the average import price increased by 27% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then contracted in the following year.

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 UK ($X per ton), while the price for China ($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 (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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