Spain: Ink Market 2024

Ink Market Size in Spain

In 2021, the Spanish ink market decreased by -24.6% to $X, falling for the third consecutive year after two years of growth. Overall, consumption continues to indicate a deep setback. Ink consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Ink Production in Spain

In value terms, ink production declined notably to $X in 2021 estimated in export price. In general, production faced a sharp decrease. The most prominent rate of growth was recorded in 2017 with an increase of 243%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Ink Exports

Exports from Spain

In 2021, approx. X tons of inks (excluding printing ink) were exported from Spain; surging by 21% on 2020 figures. Overall, exports recorded a resilient expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 133%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, ink exports surged to $X in 2021. Over the period under review, exports, however, recorded a noticeable decrease. The most prominent rate of growth was recorded in 2018 with an increase of 314% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Bangladesh (X tons) was the main destination for ink exports from Spain, with a 33% share of total exports. Moreover, ink exports to Bangladesh exceeded the volume sent to the second major destination, Italy (X tons), twofold. Portugal (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to Bangladesh amounted to +44.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+4.6% per year) and Portugal (+4.6% per year).

In value terms, the largest markets for ink exported from Spain were Italy ($X), the Netherlands ($X) and Portugal ($X), with a combined 58% share of total exports.

Among the main countries of destination, the Netherlands, with a CAGR of +54.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average ink export price amounted to $X per ton, leveling off at the previous year. Overall, the export price, however, showed a drastic downturn. The pace of growth was the most pronounced in 2018 an increase of 78%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a 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 Germany ($X per ton), while the average price for exports to Bangladesh ($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 United States (+19.3%), while the prices for the other major destinations experienced more modest paces of growth.

Ink Imports

Imports into Spain

Ink imports into Spain surged to X tons in 2021, picking up by 24% on the year before. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 185% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, ink imports stood at $X in 2021. Over the period under review, imports, however, saw a deep contraction. The growth pace was the most rapid in 2018 when imports increased by 88% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Germany (X tons), Italy (X tons) and the Netherlands (X tons) were the main suppliers of ink imports to Spain, together accounting for 62% of total imports. China, Japan, France, the Czech Republic, the United States and the UK lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +34.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ink suppliers to Spain were Germany ($X), the Netherlands ($X) and Italy ($X), with a combined 69% share of total imports. These countries were followed by Japan, France, China, the Czech Republic, the United States and the UK, which together accounted for a further 21%.

The Czech Republic, with a CAGR of +18.9%, saw 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, shrinking by -10.7% against the previous year. In general, the import price saw a abrupt shrinkage. The growth pace was the most rapid in 2020 when the average import price increased by 62% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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