Western Africa: Black Printing Ink Market 2024

Black Printing Ink Market Size in Western Africa

In 2022, the West African black printing ink market decreased by -1.3% to $X, falling for the second consecutive year after four years of growth. In general, consumption recorded a mild contraction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Black Printing Ink Production in Western Africa

In value terms, black printing ink production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, posted noticeable growth. The growth pace was the most rapid in 2019 with an increase of 52% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Black Printing Ink Exports

Exports in Western Africa

In 2022, overseas shipments of black printing ink increased by 13% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, continue to indicate a abrupt decrease. The growth pace was the most rapid in 2019 with an increase of 95%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, black printing ink exports soared to $X in 2022. Overall, exports, however, saw a deep contraction. The pace of growth appeared the most rapid in 2020 when exports increased by 90% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Nigeria (X tons) represented the key exporter of black printing ink, comprising 47% of total exports. Cote d'Ivoire (X kg) held the second position in the ranking, distantly followed by Togo (X kg) and Ghana (X kg). All these countries together held approx. 41% share of total exports. Saint Helena, Ascension and Tristan da Cunha (X kg), Benin (X kg) and Niger (X kg) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Saint Helena, Ascension and Tristan da Cunha (with a CAGR of +50.5%), while the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) remains the largest black printing ink supplier in Western Africa, comprising 45% of total exports. The second position in the ranking was taken by Nigeria ($X), with an 11% share of total exports. It was followed by Niger, with a 9.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Cote d'Ivoire totaled -14.1%. In the other countries, the average annual rates were as follows: Nigeria (-0.2% per year) and Niger (+1.0% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, jumping by 54% against the previous year. Overall, the export price, however, recorded a pronounced contraction. The pace of growth appeared the most rapid in 2020 when the export price increased by 491% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Niger ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+10.1%), while the other leaders experienced more modest paces of growth.

Black Printing Ink Imports

Imports in Western Africa

In 2022, approx. X tons of black printing ink were imported in Western Africa; growing by 5.5% compared with 2021 figures. In general, imports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 47% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, black printing ink imports contracted remarkably to $X in 2022. Overall, imports, however, showed a abrupt setback. The growth pace was the most rapid in 2014 when imports increased by 88% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Nigeria represented the major importing country with an import of around X tons, which resulted at 51% of total imports. It was distantly followed by Ghana (X tons), Cote d'Ivoire (X tons) and Senegal (X tons), together committing a 41% share of total imports. Burkina Faso (X tons) followed a long way behind the leaders.

Imports into Nigeria decreased at an average annual rate of -12.5% from 2012 to 2022. At the same time, Burkina Faso (+10.6%), Cote d'Ivoire (+2.1%) and Senegal (+1.4%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +10.6% from 2012-2022. By contrast, Ghana (-1.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana, Cote d'Ivoire, Senegal and Burkina Faso increased by +11, +9.7, +4.4 and +2.5 percentage points, respectively.

In value terms, Nigeria ($X), Cote d'Ivoire ($X) and Ghana ($X) were the countries with the highest levels of imports in 2022, together comprising 80% of total imports. Senegal and Burkina Faso lagged somewhat behind, together accounting for a further 8.1%.

In terms of the main importing countries, Burkina Faso, with a CAGR of +8.7%, 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 mixed trends in the imports figures.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, dropping by -26% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the import price increased by 78%. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+3.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform