Latvia: Black Printing Ink Market 2024

Black Printing Ink Market Size in Latvia

The Latvian black printing ink market shrank slightly to $X in 2022, reducing by -4.7% against the previous year. In general, the total consumption indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +28.0% against 2020 indices. Black printing ink consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Black Printing Ink Production in Latvia

In value terms, black printing ink production shrank to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt setback. The most prominent rate of growth was recorded in 2017 when the production volume increased by 86% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Black Printing Ink Exports

Exports from Latvia

Black printing ink exports from Latvia expanded slightly to X tons in 2022, rising by 2% compared with the previous year's figure. The total export volume increased at an average annual rate of +1.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when exports increased by 20% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, black printing ink exports rose significantly to $X in 2022. Over the period under review, total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +8.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -3.1% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of 38% against the previous year. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Lithuania (X tons) was the main destination for black printing ink exports from Latvia, with a 64% share of total exports. Moreover, black printing ink exports to Lithuania exceeded the volume sent to the second major destination, Estonia (X tons), fourfold. Russia (X tons) ranked third in terms of total exports with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Lithuania totaled -2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+10.0% per year) and Russia (+43.8% per year).

In value terms, Lithuania ($X) remains the key foreign market for black printing ink exports from Latvia, comprising 44% of total exports. The second position in the ranking was held by Russia ($X), with a 17% share of total exports. It was followed by Estonia, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Lithuania was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+55.0% per year) and Estonia (+10.9% per year).

Export Prices by Country

In 2022, the average black printing ink export price amounted to $X per ton, increasing by 8.8% against the previous year. Overall, export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, black printing ink export price increased by +84.3% against 2015 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by 22% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Lithuania ($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 Turkey (+81.8%), while the prices for the other major destinations experienced more modest paces of growth.

Black Printing Ink Imports

Imports into Latvia

In 2022, purchases abroad of black printing ink increased by 6% to X tons, rising for the third year in a row after two years of decline. In general, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +37.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 27%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, black printing ink imports dropped slightly to $X in 2022. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +26.4% against 2019 indices. The growth pace was the most rapid in 2014 when imports increased by 55%. Over the period under review, imports hit record highs at $X in 2021, and then dropped slightly in the following year.

Imports by Country

The Netherlands (X tons), Finland (X tons) and Germany (X tons) were the main suppliers of black printing ink imports to Latvia, together comprising 87% of total imports. Poland, Lithuania and the UK lagged somewhat behind, together accounting for a further 9.7%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +40.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Finland ($X), Germany ($X) and the Netherlands ($X) were the largest black printing ink suppliers to Latvia, with a combined 69% share of total imports. Lithuania, Poland and the UK lagged somewhat behind, together comprising a further 18%.

Poland, with a CAGR of +40.8%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average black printing ink import price stood at $X per ton in 2022, reducing by -8.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The pace of growth was the most pronounced in 2014 when the average import price increased by 31%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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 ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform