Sri Lanka: Black Printing Ink Market 2024

Black Printing Ink Market Size in Sri Lanka

The Sri Lankan black printing ink market declined sharply to $X in 2022, reducing by -17.8% 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). Overall, the total consumption indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -31.1% against 2018 indices. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Black Printing Ink Exports

Exports from Sri Lanka

In 2022, approx. X kg of black printing ink were exported from Sri Lanka; reducing by -11.4% on the previous year. Over the period under review, exports saw a deep slump. The pace of growth appeared the most rapid in 2017 with an increase of 507%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, black printing ink exports contracted to $X in 2022. Overall, exports, however, enjoyed a measured expansion. The pace of growth was the most pronounced in 2017 with an increase of 586% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X kg), Bangladesh (X kg) and Maldives (X kg) were the main destinations of black printing ink exports from Sri Lanka, together accounting for 92% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bangladesh (with a CAGR of +72.0%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) emerged as the key foreign market for black printing ink exports from Sri Lanka, comprising 55% of total exports. The second position in the ranking was held by Maldives ($X), with a 23% share of total exports. It was followed by Bangladesh, with a 19% share.

From 2012 to 2022, the average annual growth rate of value to Indonesia totaled +25.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+9.2% per year) and Bangladesh (+86.7% per year).

Export Prices by Country

In 2022, the average black printing ink export price amounted to $X per ton, surging by 4.8% against the previous year. In general, the export price enjoyed a prominent increase. The pace of growth appeared the most rapid in 2018 an increase of 45% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to Tunisia ($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 Papua New Guinea (+28.3%), while the prices for the other major destinations experienced more modest paces of growth.

Black Printing Ink Imports

Imports into Sri Lanka

In 2022, overseas purchases of black printing ink decreased by -22.6% to X tons, falling for the fourth consecutive year after two years of growth. Overall, imports showed a pronounced decrease. The most prominent rate of growth was recorded in 2013 with an increase of 138%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, black printing ink imports contracted dramatically to $X in 2022. In general, total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 140% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

India (X tons), China (X tons) and the UK (X tons) were the main suppliers of black printing ink imports to Sri Lanka, together accounting for 69% of total imports. Singapore, Germany, Hong Kong SAR, Australia, Italy, the United States, Switzerland and Malaysia lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +28.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest black printing ink suppliers to Sri Lanka were Switzerland ($X), the UK ($X) and India ($X), with a combined 46% share of total imports. China, Singapore, Hong Kong SAR, the United States, Italy, Germany, Australia and Malaysia lagged somewhat behind, together accounting for a further 41%.

Among the main suppliers, Italy, with a CAGR of +20.5%, recorded 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 average black printing ink import price stood at $X per ton in 2022, picking up by 7.9% against the previous year. Over the period under review, the import price continues to indicate a strong increase. The growth pace was the most rapid in 2021 an increase of 35% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform