Mexico: Ink Market 2024

Ink Market Size in Mexico

In 2021, the Mexican ink market decreased by -29.8% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption, however, posted a remarkable increase. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Ink Exports

Exports from Mexico

In 2021, overseas shipments of inks (excluding printing ink) were finally on the rise to reach X tons after three years of decline. Overall, exports, however, showed a abrupt curtailment. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, ink exports surged to $X in 2021. In general, exports, however, recorded a deep contraction. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for ink exports from Mexico, accounting for a 87% share of total exports. Moreover, ink exports to the United States exceeded the volume sent to the second major destination, Honduras (X tons), eightfold. Guatemala (X tons) ranked third in terms of total exports with a 0.9% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (-6.5% per year) and Guatemala (-32.9% per year).

In value terms, the United States ($X) remains the key foreign market for inks (excluding printing ink) exports from Mexico, comprising 78% of total exports. The second position in the ranking was taken by Honduras ($X), with an 18% share of total exports. It was followed by Guatemala, with a 1.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +5.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (-1.3% per year) and Guatemala (-30.7% per year).

Export Prices by Country

In 2021, the average ink export price amounted to $X per ton, waning by -32% against the previous year. Overall, the export price showed a abrupt decline. The pace of growth was the most pronounced in 2015 when the average export price increased by 57% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to the United States ($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 Dominican Republic (+18.5%), while the prices for the other major destinations experienced more modest paces of growth.

Ink Imports

Imports into Mexico

In 2021, supplies from abroad of inks (excluding printing ink) increased by 28% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, showed a noticeable curtailment. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, ink imports expanded rapidly to $X in 2021. Over the period under review, imports, however, showed a noticeable decline. The pace of growth appeared the most rapid in 2013 with an increase of 17%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest ink supplier to Mexico, accounting for a 66% share of total imports. Moreover, ink imports from the United States exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. Germany (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at -4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+16.3% per year) and Germany (-10.7% per year).

In value terms, the United States ($X) constituted the largest supplier of inks (excluding printing ink) to Mexico, comprising 59% of total imports. The second position in the ranking was taken by Germany ($X), with a 20% share of total imports. It was followed by Japan, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-7.6% per year) and Japan (+11.5% per year).

Import Prices by Country

The average ink import price stood at $X per ton in 2021, waning by -15% against the previous year. Over the period under review, the import price, however, saw a slight expansion. The pace of growth appeared the most rapid in 2015 an increase of 54%. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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