Mexico: Black Printing Ink Market 2024

Black Printing Ink Market Size in Mexico

In 2022, the Mexican black printing ink market increased by 5.6% to $X, rising for the sixth consecutive year after two years of decline. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Black Printing Ink Exports

Exports from Mexico

In 2022, shipments abroad of black printing ink increased by 0.3% to X tons, rising for the third consecutive year after seven years of decline. In general, exports, however, faced a deep contraction. The pace of growth was the most pronounced in 2021 with an increase of 38% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, black printing ink exports rose notably to $X in 2022. Over the period under review, exports, however, saw a deep slump. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Guatemala (X tons), Colombia (X tons) and the United States (X tons) were the main destinations of black printing ink exports from Mexico, with a combined 92% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Colombia (with a CAGR of +5.2%), while the other leaders experienced a decline.

In value terms, the United States ($X), Guatemala ($X) and Colombia ($X) were the largest markets for black printing ink exported from Mexico worldwide, with a combined 92% share of total exports.

Among the main countries of destination, Colombia, with a CAGR of +6.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average black printing ink export price stood at $X per ton in 2022, growing by 12% against the previous year. Over the period under review, the export price, however, recorded a noticeable descent. The pace of growth was the most pronounced in 2013 when the average export price increased by 13%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Costa Rica ($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 Honduras (+25.3%), while the prices for the other major destinations experienced more modest paces of growth.

Black Printing Ink Imports

Imports into Mexico

In 2022, supplies from abroad of black printing ink increased by 4.1% to X tons, rising for the sixth year in a row after two years of decline. Over the period under review, imports, however, showed a pronounced curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 61%. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, black printing ink imports rose sharply to $X in 2022. The total import value increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 11%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, the United States (X tons) constituted the largest black printing ink supplier to Mexico, accounting for a 51% share of total imports. Moreover, black printing ink imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was held by Germany (X tons), with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at -6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.9% per year) and Germany (+0.9% per year).

In value terms, the United States ($X) constituted the largest supplier of black printing ink to Mexico, comprising 44% of total imports. The second position in the ranking was taken by the UK ($X), with a 9.5% share of total imports. It was followed by Japan, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+15.0% per year) and Japan (-5.5% per year).

Import Prices by Country

The average black printing ink import price stood at $X per ton in 2022, rising by 4.5% against the previous year. Over the period under review, the import price recorded buoyant growth. The pace of growth was the most pronounced in 2015 when the average import price increased by 236% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for India ($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 (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform