Turkey: Color Printing Ink Market 2024

Color Printing Ink Market Size in Turkey

In 2022, the Turkish color printing ink market decreased by -14.2% to $X for the first time since 2011, thus ending a ten-year rising trend. In general, consumption enjoyed strong growth. As a result, consumption reached the peak level of $X, and then fell in the following year.

Color Printing Ink Production in Turkey

In value terms, color printing ink production reduced to $X in 2022 estimated in export price. In general, production posted resilient growth. The most prominent rate of growth was recorded in 2021 when the production volume increased by 41% against the previous year. As a result, production attained the peak level of $X, and then declined in the following year.

Color Printing Ink Exports

Exports from Turkey

In 2022, overseas shipments of color printing ink increased by 57% to X tons, rising for the fourth consecutive year after two years of decline. Over the period under review, exports enjoyed a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, color printing ink exports surged to $X in 2022. Overall, exports posted a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X tons) was the main destination for color printing ink exports from Turkey, accounting for a 33% share of total exports. Moreover, color printing ink exports to Russia exceeded the volume sent to the second major destination, Egypt (X tons), fourfold. Bangladesh (X tons) ranked third in terms of total exports with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia stood at +18.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+25.5% per year) and Bangladesh (+99.4% per year).

In value terms, Russia ($X) emerged as the key foreign market for color printing ink exports from Turkey, comprising 38% of total exports. The second position in the ranking was held by Iran ($X), with a 7.3% share of total exports. It was followed by Egypt, with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia stood at +22.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+13.6% per year) and Egypt (+26.7% per year).

Export Prices by Country

In 2022, the average color printing ink export price amounted to $X per ton, growing by 11% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2016 an increase of 12%. Over the period under review, the average export prices attained the maximum in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Nigeria ($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 Iran (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Color Printing Ink Imports

Imports into Turkey

In 2022, purchases abroad of color printing ink increased by 24% to X tons, rising for the second year in a row after four years of decline. The total import volume increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, color printing ink imports surged to $X in 2022. The total import value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of color printing ink to Turkey, accounting for a 32% share of total imports. Moreover, color printing ink imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. Spain (X tons) ranked third in terms of total imports with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to -1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+5.0% per year) and Spain (+7.5% per year).

In value terms, Germany ($X), Switzerland ($X) and the UK ($X) appeared to be the largest color printing ink suppliers to Turkey, together comprising 49% of total imports. Italy, Spain, China, the Netherlands, India, South Korea, France and Poland lagged somewhat behind, together comprising a further 36%.

South Korea, with a CAGR of +13.2%, saw the highest rates of growth with regard to the value of imports, in terms of 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 color printing ink import price amounted to $X per ton, with an increase of 2.1% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 11% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform