Ireland: Ink Market 2024

Ink Market Size in Ireland

In 2021, the Irish ink market increased by 120% to $X, rising for the third consecutive year after two years of decline. Overall, consumption continues to indicate significant growth. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in the near future.

Ink Production in Ireland

In value terms, ink production totaled $X in 2021 estimated in export price. Over the period under review, production saw a sharp shrinkage. The growth pace was the most rapid in 2019 with an increase of 746% against the previous year. Ink production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Ink Exports

Exports from Ireland

In 2021, the amount of inks (excluding printing ink) exported from Ireland surged to X tons, growing by 46% compared with the year before. Over the period under review, exports, however, recorded a significant contraction. The growth pace was the most rapid in 2018 with an increase of 632% against the previous year. Over the period under review, the exports attained 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 plummeted to $X in 2021. In general, exports, however, continue to indicate a sharp decline. The most prominent rate of growth was recorded in 2018 with an increase of 501%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X tons) was the main destination for ink exports from Ireland, accounting for a 88% share of total exports. Moreover, ink exports to the UK exceeded the volume sent to the second major destination, Cyprus (X tons), more than tenfold. Greece (X kg) ranked third in terms of total exports with a 2.3% share.

From 2012 to 2021, the average annual growth rate of volume to the UK amounted to +34.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+23.9% per year) and Greece (+95.8% per year).

In value terms, the UK ($X) remains the key foreign market for inks (excluding printing ink) exports from Ireland, comprising 75% of total exports. The second position in the ranking was taken by Cyprus ($X), with a 9% share of total exports. It was followed by Greece, with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK amounted to +27.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+19.0% per year) and Greece (+93.0% per year).

Export Prices by Country

In 2021, the average ink export price amounted to $X per ton, dropping by -47.1% against the previous year. Overall, the export price, however, posted significant growth. The pace of growth appeared the most rapid in 2016 when the average export price increased by 2,256%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to Germany ($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 the Czech Republic (+80.5%), while the prices for the other major destinations experienced mixed trend patterns.

Ink Imports

Imports into Ireland

In 2021, approx. X tons of inks (excluding printing ink) were imported into Ireland; with a decrease of -21.7% on the year before. Over the period under review, imports recorded a abrupt contraction. The pace of growth was the most pronounced in 2020 when imports increased by 7.7%. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, ink imports soared to $X in 2021. Overall, imports continue to indicate a perceptible decline. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of ink to Ireland, accounting for a 32% share of total imports. Moreover, ink imports from the United States exceeded the figures recorded by the second-largest supplier, the UK (X tons), twofold. The Netherlands (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at -22.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-7.3% per year) and the Netherlands (+2.8% per year).

In value terms, Malaysia ($X), the United States ($X) and the UK ($X) were the largest ink suppliers to Ireland, with a combined 57% share of total imports. These countries were followed by Japan, Germany, China, the Netherlands, Singapore and Mexico, which together accounted for a further 30%.

In terms of the main suppliers, Germany, with a CAGR of +41.7%, saw 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

In 2021, the average ink import price amounted to $X per ton, growing by 107% against the previous year. In general, the import price enjoyed prominent growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+30.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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