Panama: Printing Ink Market 2024

Printing Ink Market Size in Panama

In 2022, the Panamanian printing ink market decreased by -0.1% to $X, falling for the fourth year in a row after two years of growth. Over the period under review, consumption saw a noticeable decline. Printing ink consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Printing Ink Production in Panama

In value terms, printing ink production amounted to $X in 2022 estimated in export price. Overall, production saw a perceptible downturn. The pace of growth appeared the most rapid in 2017 when the production volume increased by 45%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Printing Ink Exports

Exports from Panama

In 2022, shipments abroad of printing ink decreased by -65.1% to X tons, falling for the fourth year in a row after three years of growth. Overall, exports showed a precipitous decrease. The most prominent rate of growth was recorded in 2014 when exports increased by 217% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, printing ink exports fell notably to $X in 2022. Over the period under review, exports continue to indicate a dramatic curtailment. The growth pace was the most rapid in 2014 with an increase of 288%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Cuba (X tons) was the main destination for printing ink exports from Panama, with a 60% share of total exports. Moreover, printing ink exports to Cuba exceeded the volume sent to the second major destination, Free Zones (X tons), threefold. Colombia (X kg) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cuba totaled -11.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Free Zones (-26.3% per year) and Colombia (-26.7% per year).

In value terms, Cuba ($X) emerged as the key foreign market for printing ink exports from Panama, comprising 58% of total exports. The second position in the ranking was held by Free Zones ($X), with a 10% share of total exports. It was followed by Colombia, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value to Cuba amounted to -19.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Free Zones (-28.6% per year) and Colombia (-26.1% per year).

Export Prices by Country

In 2022, the average printing ink export price amounted to $X per ton, reducing by -15.3% against the previous year. Overall, the export price recorded a noticeable shrinkage. The growth pace was the most rapid in 2018 when the average export price increased by 30% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 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 Ecuador ($X per ton), while the average price for exports to Jamaica ($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 the Dominican Republic (+21.9%), while the prices for the other major destinations experienced more modest paces of growth.

Printing Ink Imports

Imports into Panama

In 2022, purchases abroad of printing ink decreased by -20.3% to X tons, falling for the fourth consecutive year after two years of growth. Over the period under review, imports, however, continue to indicate noticeable growth. The pace of growth appeared the most rapid in 2017 with an increase of 11,487% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, printing ink imports reduced to $X in 2022. In general, imports, however, recorded resilient growth. The growth pace was the most rapid in 2017 with an increase of 14,826% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

The United States (X tons), Free Zones (X tons) and El Salvador (X tons) were the main suppliers of printing ink imports to Panama, together accounting for 61% of total imports. Mexico, Japan, Italy, China, Israel, Germany, Spain, Colombia, South Korea and Hong Kong SAR lagged somewhat behind, together comprising a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +74.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Free Zones ($X) and Japan ($X) were the largest printing ink suppliers to Panama, together comprising 73% of total imports. Mexico, El Salvador, Spain, Israel, Italy, China, Germany, Colombia, Hong Kong SAR and South Korea lagged somewhat behind, together accounting for a further 22%.

Germany, with a CAGR of +66.1%, 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

In 2022, the average printing ink import price amounted to $X per ton, rising by 19% against the previous year. Overall, the import price recorded prominent growth. The pace of growth appeared the most rapid in 2017 an increase of 29%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Colombia ($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 (+17.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform