Latin America and the Caribbean: Ink Market 2024

Ink Market Size in Latin America and the Caribbean

The Latin American ink market rose modestly to $X in 2021, growing by 3.1% against the previous year. Overall, consumption, however, showed a slight decrease. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Ink Production in Latin America and the Caribbean

In value terms, ink production contracted slightly to $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 25%. Over the period under review, production attained the maximum level at $X in 2020, and then contracted in the following year.

Ink Exports

Exports in Latin America and the Caribbean

After three years of decline, overseas shipments of inks (excluding printing ink) increased by 153% to X tons in 2021. In general, exports posted a pronounced increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, ink exports surged to $X in 2021. Total exports indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Guatemala represented the major exporting country with an export of about X tons, which amounted to 52% of total exports. It was distantly followed by Peru (X tons), Mexico (X tons) and Nicaragua (X tons), together comprising a 35% share of total exports. The following exporters - Colombia (X tons), Brazil (X tons) and Costa Rica (X tons) - together made up 9.7% of total exports.

From 2012 to 2021, average annual rates of growth with regard to ink exports from Guatemala stood at +8.6%. At the same time, Nicaragua (+362.1%), Brazil (+18.4%), Costa Rica (+17.1%) and Colombia (+12.3%) displayed positive paces of growth. Moreover, Nicaragua emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +362.1% from 2012-2021. By contrast, Peru (-1.3%) and Mexico (-10.0%) illustrated a downward trend over the same period. Guatemala (+21 p.p.), Nicaragua (+8.1 p.p.), Brazil (+2.5 p.p.) and Colombia (+2.3 p.p.) significantly strengthened its position in terms of the total exports, while Peru and Mexico saw its share reduced by -6.8% and -22.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Guatemala ($X) emerged as the largest ink supplier in Latin America and the Caribbean, comprising 44% of total exports. The second position in the ranking was held by Peru ($X), with a 20% share of total exports. It was followed by Brazil, with a 9% share.

In Guatemala, ink exports expanded at an average annual rate of +9.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Peru (+0.2% per year) and Brazil (+27.0% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, reducing by -19% against the previous year. Over the period under review, the export price continues to indicate a slight downturn. The most prominent rate of growth was recorded in 2016 an increase of 15%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+7.3%), while the other leaders experienced more modest paces of growth.

Ink Imports

Imports in Latin America and the Caribbean

In 2021, purchases abroad of inks (excluding printing ink) was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, recorded a perceptible descent. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, ink imports expanded markedly to $X in 2021. Overall, imports, however, recorded a noticeable downturn. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

The purchases of the twelve major importers of inks (excluding printing ink), namely Mexico, the Dominican Republic, Brazil, Peru, Guatemala, Costa Rica, Colombia, Chile, Ecuador, Honduras, Nicaragua and El Salvador, represented more than two-thirds of total import.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Nicaragua (with a CAGR of +13.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), the Dominican Republic ($X) and Brazil ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 48% of total imports.

Among the main importing countries, the Dominican Republic, with a CAGR of +8.7%, 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 import price in Latin America and the Caribbean amounted to $X per ton, with a decrease of -7.8% against the previous year. Over the period under review, the import price saw a mild curtailment. The most prominent rate of growth was recorded in 2018 an increase of 2.5%. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Mexico ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+4.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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