Vietnam: Color Printing Ink Market 2024

Color Printing Ink Market Size in Vietnam

The Vietnamese color printing ink market was estimated at $X in 2022, picking up by 1.5% 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). Over the period under review, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +4.2% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Color Printing Ink Exports

Exports from Vietnam

In 2022, the amount of color printing ink exported from Vietnam shrank to X tons, waning by -4.2% on the previous year. Over the period under review, exports, however, recorded a significant increase. The growth pace was the most rapid in 2013 with an increase of 284%. Over the period under review, the exports hit record highs at X tons in 2021, and then fell modestly in the following year.

In value terms, color printing ink exports reduced to $X in 2022. In general, exports, however, showed significant growth. The pace of growth was the most pronounced in 2013 when exports increased by 509%. Over the period under review, the exports attained the maximum at $X in 2021, and then contracted in the following year.

Exports by Country

Cambodia (X tons), Pakistan (X tons) and Indonesia (X tons) were the main destinations of color printing ink exports from Vietnam, with a combined 48% share of total exports. Singapore, Cameroon, China, Saudi Arabia, Thailand, India, Hong Kong SAR, Nepal and Taiwan (Chinese) lagged somewhat behind, together comprising a further 41%.

From 2012 to 2022, the biggest increases were recorded for Cameroon (with a CAGR of +113.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cambodia ($X), Pakistan ($X) and Indonesia ($X) were the largest markets for color printing ink exported from Vietnam worldwide, with a combined 49% share of total exports. Singapore, Saudi Arabia, China, Hong Kong SAR, Thailand, India, Taiwan (Chinese), Nepal and Cameroon lagged somewhat behind, together comprising a further 33%.

In terms of the main countries of destination, Taiwan (Chinese), with a CAGR of +103.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average color printing ink export price stood at $X per ton in 2022, approximately mirroring the previous year. Overall, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, color printing ink export price decreased by -6.2% against 2020 indices. The most prominent rate of growth was recorded in 2013 an increase of 59% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Cameroon ($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 Pakistan (+13.9%), while the prices for the other major destinations experienced more modest paces of growth.

Color Printing Ink Imports

Imports into Vietnam

In 2022, supplies from abroad of color printing ink increased by 17% to X tons for the first time since 2019, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +4.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by 19%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, color printing ink imports dropped to $X in 2022. In general, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.3% 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 +2.9% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 21% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of color printing ink imports to Vietnam, with a combined 51% share of total imports. Switzerland, Malaysia, Hong Kong SAR, Japan, Thailand, New Zealand and Singapore lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Switzerland (with a CAGR of +36.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest color printing ink suppliers to Vietnam were South Korea ($X), Japan ($X) and China ($X), with a combined 53% share of total imports. Switzerland, Malaysia, Taiwan (Chinese), Hong Kong SAR, Singapore, Thailand and New Zealand lagged somewhat behind, together comprising a further 36%.

Switzerland, with a CAGR of +45.7%, 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 color printing ink import price stood at $X per ton in 2022, which is down by -17.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2018 an increase of 19% against the previous year. The import price peaked at $X per ton in 2021, and then plummeted in the following year.

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 Japan ($X per ton), while the price for Hong Kong SAR ($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 (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform