Panama: Black Printing Ink Market 2024

Black Printing Ink Market Size in Panama

The Panamanian black printing ink market expanded slightly to $X in 2022, growing by 4% against the previous year. In general, consumption, however, recorded a slight descent. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Black Printing Ink Production in Panama

In value terms, black printing ink production expanded sharply to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a mild shrinkage. The most prominent rate of growth was recorded in 2018 when the production volume increased by 64% against the previous year. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Black Printing Ink Exports

Exports from Panama

In 2022, shipments abroad of black printing ink increased by 50% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, saw a dramatic curtailment. The pace of growth appeared the most rapid in 2014 with an increase of 137% 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 soared to $X in 2022. Overall, exports, however, continue to indicate a dramatic shrinkage. The most prominent rate of growth was recorded in 2014 when exports increased by 221% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cuba (X tons) was the main destination for black printing ink exports from Panama, with a 70% share of total exports. Moreover, black printing ink exports to Cuba exceeded the volume sent to the second major destination, Colombia (X kg), fivefold. Free Zones (X kg) ranked third in terms of total exports with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cuba amounted to -11.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-24.4% per year) and Free Zones (-37.0% per year).

In value terms, Cuba ($X) remains the key foreign market for black printing ink exports from Panama, comprising 64% of total exports. The second position in the ranking was taken by Colombia ($X), with a 10% share of total exports. It was followed by Venezuela, with a 2.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Cuba stood at -18.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-24.3% per year) and Venezuela (-29.4% per year).

Export Prices by Country

In 2022, the average black printing ink export price amounted to $X per ton, growing by 19% against the previous year. Overall, the export price, however, saw a pronounced slump. The most prominent rate of growth was recorded in 2014 when the average export price increased by 35%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Free Zones ($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 Venezuela (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Black Printing Ink Imports

Imports into Panama

In 2022, approx. X tons of black printing ink were imported into Panama; with a decrease of -10% on 2021. Overall, imports showed a pronounced descent. The growth pace was the most rapid in 2017 with an increase of 5,098%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, black printing ink imports contracted slightly to $X in 2022. In general, imports, however, recorded a perceptible expansion. The growth pace was the most rapid in 2017 when imports increased by 6,718% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Free Zones (X tons), the United States (X tons) and Japan (X tons) were the main suppliers of black printing ink imports to Panama, together comprising 73% of total imports. El Salvador, Mexico, China, Germany, Colombia and South Korea lagged somewhat behind, together comprising a further 22%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +62.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest black printing ink suppliers to Panama were Free Zones ($X), the United States ($X) and Japan ($X), with a combined 88% share of total imports. Mexico, El Salvador, China, Germany, Colombia and South Korea lagged somewhat behind, together comprising a further 5.8%.

Germany, with a CAGR of +49.2%, saw 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, with an increase of 11% against the previous year. Over the period under review, the import price recorded a resilient increase. The growth pace was the most rapid in 2021 an increase of 63% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see steady growth in years to come.

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 Japan ($X per ton), while the price for El Salvador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Free Zones (+19.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform