Puerto Rico: Ink Market 2024

Ink Market Size in Puerto Rico

The Puerto Rican ink market expanded remarkably to $X in 2021, with an increase of 14% against the previous year. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Ink Production in Puerto Rico

In value terms, ink production surged to $X in 2021 estimated in export price. Over the period under review, the total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -14.7% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 25% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Ink Exports

Exports from Puerto Rico

In 2021, the amount of inks (excluding printing ink) exported from Puerto Rico stood at less than X kg, approximately reflecting the previous year. Overall, exports recorded a relatively flat trend pattern.

In value terms, ink exports totaled less than $X in 2021. Over the period under review, exports saw a relatively flat trend pattern.

Exports by Country

In 2021, China (X tons), distantly followed by the Netherlands (X tons), Germany (X tons), France (X tons) and the UK (X tons) were the largest exporters of inks (excluding printing ink), together making up 59% of total exports. Japan (X tons), the United States (X tons), Singapore (X tons), South Korea (X tons), Hong Kong SAR (X tons), Spain (X tons), the Philippines (X tons) and Malaysia (X tons) took a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to ink exports from China stood at +5.7%. At the same time, the Philippines (+26.5%), the Netherlands (+11.9%), South Korea (+6.3%), Spain (+5.0%), the UK (+4.8%), Japan (+2.7%) and France (+1.8%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in the world, with a CAGR of +26.5% from 2012-2021. Hong Kong SAR and Germany experienced a relatively flat trend pattern. By contrast, Singapore (-1.3%), the United States (-7.9%) and Malaysia (-11.1%) illustrated a downward trend over the same period. While the share of China (+9.4 p.p.), the Netherlands (+7.2 p.p.), the Philippines (+1.8 p.p.) and the UK (+1.6 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of the United States (-3.7 p.p.) and Malaysia (-3.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X), the Netherlands ($X) and the UK ($X) were the countries with the highest levels of exports in 2021, with a combined 63% share of total exports. China, France, Singapore, Japan, the United States, Spain, Malaysia, Hong Kong SAR, South Korea and the Philippines lagged somewhat behind, together accounting for a further 23%.

The Philippines, with a CAGR of +22.4%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Puerto Rico stood at less than $X per ton in 2021, almost unchanged from the previous year. Over the period under review, the export price saw a relatively flat trend pattern.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while China ($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 (+8.9%), while the other leaders experienced more modest paces of growth.

Ink Imports

Imports into Puerto Rico

Ink imports into Puerto Rico was estimated at less than X kg in 2021, leveling off at 2020 figures. In general, imports saw a relatively flat trend pattern.

In value terms, ink imports amounted to less than $X in 2021. Overall, imports recorded a relatively flat trend pattern.

Imports by Country

China (X tons), the Netherlands (X tons), Germany (X tons), Singapore (X tons) and France (X tons) represented roughly 42% of total imports in 2021. Vietnam (X tons), Indonesia (X tons), the UK (X tons), Thailand (X tons), India (X tons), Italy (X tons), the United States (X tons) and Russia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +16.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and France ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 53% of total imports. These countries were followed by the UK, Italy, China, Singapore, Indonesia, Russia, Thailand, the United States, Vietnam and India, which together accounted for a further 23%.

In terms of the main importing countries, Indonesia, with a CAGR of +24.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Puerto Rico stood at less than $X per ton in 2021, almost unchanged from the previous year. In general, the import price recorded a relatively flat trend pattern.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+6.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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