Norway: Ink Market 2024

Ink Market Size in Norway

The Norwegian ink market surged to $X in 2021, growing by 16% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +89.7% against 2016 indices. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Ink Exports

Exports from Norway

After two years of growth, shipments abroad of inks (excluding printing ink) decreased by -23.5% to X tons in 2021. In general, exports, however, saw a mild increase. The pace of growth was the most pronounced in 2013 with an increase of 90%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, ink exports surged to $X in 2021. Overall, total exports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +137.4% against 2018 indices. The growth pace was the most rapid in 2019 when exports increased by 75%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Sweden (X tons) was the main destination for ink exports from Norway, with a 61% share of total exports. Moreover, ink exports to Sweden exceeded the volume sent to the second major destination, Iceland (X tons), fivefold. The Netherlands (X kg) ranked third in terms of total exports with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Sweden was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Iceland (+15.7% per year) and the Netherlands (+29.5% per year).

In value terms, Sweden ($X) remains the key foreign market for inks (excluding printing ink) exports from Norway, comprising 66% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 9.9% share of total exports. It was followed by the Czech Republic, with a 5.7% share.

From 2012 to 2021, the average annual growth rate of value to Sweden totaled +3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+22.9% per year) and the Czech Republic (+27.9% per year).

Export Prices by Country

In 2021, the average ink export price amounted to $X per ton, rising by 51% against the previous year. In general, the export price enjoyed a modest increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Iceland ($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 Hong Kong SAR (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.

Ink Imports

Imports into Norway

In 2021, supplies from abroad of inks (excluding printing ink) increased by 14% to X tons, rising for the fourth consecutive year after three years of decline. The total import volume increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 21%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, ink imports rose notably to $X in 2021. Overall, total imports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +89.1% against 2016 indices. The most prominent rate of growth was recorded in 2014 with an increase of 35% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Japan (X tons), the Netherlands (X tons) and the UK (X tons) were the main suppliers of ink imports to Norway, with a combined 49% share of total imports. China, Israel, the United States, Indonesia, Denmark, Singapore, Germany, Sweden, Malaysia and France lagged somewhat behind, together comprising a further 43%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +58.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ink suppliers to Norway were Japan ($X), China ($X) and Indonesia ($X), together comprising 55% of total imports.

Indonesia, with a CAGR of +63.5%, recorded the highest growth rate of 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

In 2021, the average ink import price amounted to $X per ton, flattening at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2017 when the average import price increased by 46% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+29.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :