Thailand: Ink Market 2024

Ink Market Size in Thailand

For the sixth year in a row, the Thai ink market recorded growth in sales value, which increased by 7.8% to $X in 2021. In general, consumption enjoyed a strong increase. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in the near future.

Ink Exports

Exports from Thailand

In 2021, shipments abroad of inks (excluding printing ink) decreased by -6.6% to X tons, falling for the fourth year in a row after two years of growth. Overall, exports recorded a slight reduction. The pace of growth appeared the most rapid in 2016 with an increase of 49% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, ink exports contracted to $X in 2021. In general, total exports indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -29.6% against 2018 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 19%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

The Philippines (X tons), Myanmar (X tons) and Bangladesh (X tons) were the main destinations of ink exports from Thailand, with a combined 51% share of total exports. China, Malaysia, India, Lao People's Democratic Republic, Hong Kong SAR, Vietnam, Canada, Russia, New Zealand and Congo lagged somewhat behind, together comprising a further 38%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Congo (with a CAGR of +187.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ink exported from Thailand were Bangladesh ($X), the Philippines ($X) and Myanmar ($X), together accounting for 47% of total exports. These countries were followed by China, Lao People's Democratic Republic, Hong Kong SAR, India, Malaysia, Vietnam, New Zealand, Russia, Congo and Canada, which together accounted for a further 35%.

Canada, with a CAGR of +139.8%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average ink export price stood at $X per ton in 2021, dropping by -6.5% against the previous year. Overall, export price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, ink export price increased by +65.8% against 2017 indices. The most prominent rate of growth was recorded in 2018 an increase of 32% against the previous year. The export price peaked at $X per ton in 2020, and then dropped in the following year.

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 Bangladesh ($X per ton), while the average price for exports to Canada ($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 Philippines (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Ink Imports

Imports into Thailand

For the sixth year in a row, Thailand recorded growth in purchases abroad of inks (excluding printing ink), which increased by 9% to X tons in 2021. In general, imports enjoyed resilient growth. The pace of growth was the most pronounced in 2014 with an increase of 35% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, ink imports stood at $X in 2021. Over the period under review, imports posted prominent growth. The growth pace was the most rapid in 2014 when imports increased by 36% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in the near future.

Imports by Country

China (X tons), the Philippines (X tons) and Japan (X tons) were the main suppliers of ink imports to Thailand, together comprising 87% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Philippines (with a CAGR of +94.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), the Philippines ($X) and China ($X) constituted the largest ink suppliers to Thailand, with a combined 81% share of total imports.

The Philippines, with a CAGR of +114.2%, recorded 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 2021, the average ink import price amounted to $X per ton, declining by -5.4% against the previous year. Over the period under review, import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 an increase of 22%. Over the period under review, average import prices hit record highs at $X per ton in 2020, and then fell in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+17.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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