U.S.: Printing Ink Market 2024

Printing Ink Market Size in the U.S.

In 2022, after three years of growth, there was decline in the U.S. printing ink market, when its value decreased by -0.7% to $X. Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Printing Ink Production in the U.S.

In value terms, printing ink production declined to $X in 2022. Overall, production continues to indicate a mild downturn. The pace of growth was the most pronounced in 2013 when the production volume increased by 6.2% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Printing Ink Exports

Exports from the U.S.

In 2022, printing ink exports from the United States reduced to X tons, remaining relatively unchanged against the previous year. Over the period under review, exports saw a abrupt downturn. The most prominent rate of growth was recorded in 2021 with an increase of 5.4% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, printing ink exports rose markedly to $X in 2022. Overall, exports showed a slight decrease. The most prominent rate of growth was recorded in 2021 with an increase of 9.5%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Canada (X tons) was the main destination for printing ink exports from the United States, accounting for a 39% share of total exports. Moreover, printing ink exports to Canada exceeded the volume sent to the second major destination, Mexico (X tons), twofold. Malaysia (X tons) ranked third in terms of total exports with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada amounted to -6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+0.2% per year) and Malaysia (+28.4% per year).

In value terms, Canada ($X), Mexico ($X) and Malaysia ($X) constituted the largest markets for printing ink exported from the United States worldwide, with a combined 47% share of total exports.

Malaysia, with a CAGR of +34.6%, recorded the highest rates of growth with regard to 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

In 2022, the average printing ink export price amounted to $X per ton, rising by 8.4% against the previous year. In general, export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, printing ink export price increased by +63.4% against 2012 indices. The growth pace was the most rapid in 2020 when the average export price increased by 11%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Canada ($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 Peru (+18.3%), while the prices for the other major destinations experienced more modest paces of growth.

Printing Ink Imports

Imports into the U.S.

After five years of growth, purchases abroad of printing ink decreased by -5.1% to X tons in 2022. The total import volume increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 20%. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, printing ink imports expanded slightly to $X in 2022. Over the period under review, total imports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.2% against 2016 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 19% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

Canada (X tons), India (X tons) and Japan (X tons) were the main suppliers of printing ink imports to the United States, together accounting for 52% of total imports. Germany, the UK, Singapore, South Korea, Israel, Switzerland and Mexico lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Israel (with a CAGR of +10.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), the UK ($X) and Singapore ($X) appeared to be the largest printing ink suppliers to the United States, with a combined 42% share of total imports. Israel, Canada, Germany, India, South Korea, Switzerland and Mexico lagged somewhat behind, together comprising a further 39%.

India, with a CAGR of +9.2%, recorded 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

The average printing ink import price stood at $X per ton in 2022, surging by 11% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Israel ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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