Western Africa: Printing Ink Market 2024

Printing Ink Market Size in Western Africa

In 2022, the West African printing ink market decreased by -0.4% to $X, falling for the second consecutive year after four years of growth. The total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -6.0% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Printing Ink Production in Western Africa

In value terms, printing ink production rose to $X in 2022 estimated in export price. The total production indicated a resilient 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, production decreased by -2.2% against 2020 indices. The growth pace was the most rapid in 2017 when the production volume increased by 39% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Printing Ink Exports

Exports in Western Africa

After five years of decline, overseas shipments of printing ink increased by 23% to X tons in 2022. In general, exports, however, recorded a noticeable decline. The most prominent rate of growth was recorded in 2015 with an increase of 53%. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, printing ink exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 70% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Cote d'Ivoire (X tons) and Nigeria (X tons) represented the major exporters of printing ink in Western Africa, together amounting to near 71% of total exports. Senegal (X tons) took the next position in the ranking, followed by Togo (X tons). All these countries together took approx. 20% share of total exports. Mali (X kg) and Ghana (X kg) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Mali (with a CAGR of +42.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) remains the largest printing ink supplier in Western Africa, comprising 51% of total exports. The second position in the ranking was taken by Senegal ($X), with a 15% share of total exports. It was followed by Nigeria, with a 14% share.

In Cote d'Ivoire, printing ink exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Senegal (+5.9% per year) and Nigeria (-3.0% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, picking up by 6.5% against the previous year. Overall, the export price continues to indicate pronounced growth. The pace of growth appeared the most rapid in 2020 when the export price increased by 115%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the export prices remained at a lower figure.

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 Mali ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+5.8%), while the other leaders experienced mixed trends in the export price figures.

Printing Ink Imports

Imports in Western Africa

In 2022, purchases abroad of printing ink decreased by -8.7% to X tons, falling for the second consecutive year after three years of growth. Overall, imports, however, posted notable growth. The most prominent rate of growth was recorded in 2020 when imports increased by 42% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, printing ink imports fell sharply to $X in 2022. In general, imports, however, continue to indicate a moderate increase. The growth pace was the most rapid in 2020 with an increase of 66% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Nigeria was the main importing country with an import of around X tons, which accounted for 54% of total imports. Ghana (X tons) took the second position in the ranking, followed by Cote d'Ivoire (X tons) and Senegal (X tons). All these countries together took approx. 37% share of total imports. Togo (X tons) and Guinea (X tons) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to printing ink imports into Nigeria stood at +2.9%. At the same time, Guinea (+30.4%), Cote d'Ivoire (+15.1%), Ghana (+7.1%), Togo (+4.4%) and Senegal (+3.4%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +30.4% from 2012-2022. While the share of Cote d'Ivoire (+8.6 p.p.) and Ghana (+3.2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nigeria (-11.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported printing ink in Western Africa, comprising 50% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 19% share of total imports. It was followed by Ghana, with a 14% share.

In Nigeria, printing ink imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+9.9% per year) and Ghana (+4.4% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, waning by -8% against the previous year. Overall, the import price recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2020 an increase of 17% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (-0.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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