Latin America and the Caribbean: Ink-Pad Market 2024

Ink-Pad Market Size in Latin America and the Caribbean

The Latin American ink-pad market fell modestly to $X in 2022, declining by -4.2% against the previous year. Overall, consumption, however, recorded a abrupt decrease. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Ink-Pad Production in Latin America and the Caribbean

In value terms, ink-pad production fell to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a deep slump. The most prominent rate of growth was recorded in 2017 with an increase of 38% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Ink-Pad Exports

Exports in Latin America and the Caribbean

Ink-pad exports rose notably to X units in 2022, surging by 8.4% on the year before. Over the period under review, exports, however, continue to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2021 with an increase of 59% against the previous year. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, ink-pad exports stood at $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 31% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mexico prevails in exports structure, amounting to X units, which was near 84% of total exports in 2022. It was distantly followed by the Dominican Republic (X units), comprising a 5.4% share of total exports. The following exporters - Chile (X units) and Peru (X units) - together made up 5.6% of total exports.

From 2012 to 2022, average annual rates of growth with regard to ink-pad exports from Mexico stood at -4.6%. At the same time, the Dominican Republic (+103.6%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +103.6% from 2012-2022. Peru experienced a relatively flat trend pattern. By contrast, Chile (-6.4%) illustrated a downward trend over the same period. While the share of the Dominican Republic (+5.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Mexico (-3.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest ink-pad supplier in Latin America and the Caribbean, comprising 88% of total exports. The second position in the ranking was held by Chile ($X), with a 3.6% share of total exports. It was followed by Peru, with a 3.2% share.

From 2012 to 2022, the average annual growth rate of value in Mexico totaled +2.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Chile (-12.6% per year) and Peru (-3.2% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, therefore, remained relatively stable against the previous year. Over the period under review, the export price, however, showed tangible growth. The most prominent rate of growth was recorded in 2016 an increase of 75%. Over the period under review, the export prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Peru ($X per unit), while the Dominican Republic ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+7.5%), while the other leaders experienced a decline in the export price figures.

Ink-Pad Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of ink-pads increased by 7.5% to X units, rising for the second year in a row after three years of decline. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 69%. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, ink-pad imports dropped dramatically to $X in 2022. Over the period under review, imports, however, continue to indicate a pronounced slump. The most prominent rate of growth was recorded in 2021 when imports increased by 60% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Bolivia (X units), distantly followed by Colombia (X units), Mexico (X units), Peru (X units), Brazil (X units), the Dominican Republic (X units), Guatemala (X units) and El Salvador (X units) represented the largest importers of ink-pads, together creating 78% of total imports. The following importers - Argentina (X units), Honduras (X units), Chile (X units) and Nicaragua (X units) - together made up 12% of total imports.

From 2012 to 2022, the biggest increases were recorded for Bolivia (with a CAGR of +13.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ink-pad importing markets in Latin America and the Caribbean were the Dominican Republic ($X), Mexico ($X) and Chile ($X), with a combined 40% share of total imports. Colombia, Peru, Brazil, Honduras, El Salvador, Guatemala, Bolivia, Argentina and Nicaragua lagged somewhat behind, together comprising a further 48%.

Among the main importing countries, Honduras, with a CAGR of +18.7%, saw the highest growth rate of 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 2022, the import price in Latin America and the Caribbean amounted to $X per unit, waning by -28% against the previous year. Over the period under review, the import price recorded a pronounced decrease. The most prominent rate of growth was recorded in 2020 when the import price increased by 15%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Chile ($X per unit), while Bolivia (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Honduras (+5.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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