Color Printing Ink Market

The global color printing ink market is projected to see growth in both volume and value terms over the next eight years, with a forecasted CAGR of +1.2% and +3.4% respectively. China leads as both the largest consumer and producer of color printing ink, followed by India, the United States, Germany, the Netherlands, and Japan. Import and export prices are on the rise, with Japan having the highest export price per ton in 2022. Overall, the market is showing positive growth trends in various regions across the globe.

Market Forecast

Driven by increasing demand for color printing ink worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +1.2% for the period from 2022 to 2030, which is projected to bring the market volume to 5.5M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.4% for the period from 2022 to 2030, which is projected to bring the market value to $52.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Color Printing Ink

Global color printing ink consumption reduced to 4.9M tons in 2022, remaining constant against 2021 figures. Over the period under review, consumption, however, showed a relatively flat trend pattern. Global consumption peaked at 5.2M tons in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

The global color printing ink market revenue reduced slightly to $40.3B in 2022, dropping by -4.1% 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). In general, consumption continues to indicate a mild contraction. As a result, consumption attained the peak level of $45.7B. From 2015 to 2022, the growth of the global market remained at a somewhat lower figure.

Consumption By Country

China (1.4M tons) constituted the country with the largest volume of color printing ink consumption, comprising approx. 28% of total volume. Moreover, color printing ink consumption in China exceeded the figures recorded by the second-largest consumer, India (545K tons), threefold. The third position in this ranking was taken by the United States (542K tons), with an 11% share.

In China, color printing ink consumption expanded at an average annual rate of +1.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+1.8% per year) and the United States (-1.8% per year).

In value terms, the largest color printing ink markets worldwide were China ($6.2B), Japan ($5.9B) and the United States ($5.4B), with a combined 43% share of the global market. Indonesia, India, Turkey, Mexico, Germany, South Korea, Thailand and Italy lagged somewhat behind, together accounting for a further 25%.

Turkey, with a CAGR of +10.0%, recorded the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of color printing ink per capita consumption in 2022 were Italy (2.2 kg per person), Japan (2.2 kg per person) and Germany (2.1 kg per person).

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +3.0%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Color Printing Ink

In 2022, approx. 4.9M tons of color printing ink were produced worldwide; remaining stable against 2021 figures. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 4.1%. Global production peaked at 5.2M tons in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

In value terms, color printing ink production totaled $36.9B in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 8%. Global production peaked at $40.7B in 2016; however, from 2017 to 2022, production failed to regain momentum.

Production By Country

China (1.4M tons) constituted the country with the largest volume of color printing ink production, comprising approx. 29% of total volume. Moreover, color printing ink production in China exceeded the figures recorded by the second-largest producer, India (576K tons), twofold. The United States (542K tons) ranked third in terms of total production with an 11% share.

From 2012 to 2022, the average annual growth rate of volume in China totaled +1.6%. The remaining producing countries recorded the following average annual rates of production growth: India (+1.9% per year) and the United States (-2.5% per year).

Imports

World Imports of Color Printing Ink

In 2022, approx. 709K tons of color printing ink were imported worldwide; reducing by -4.2% on 2021. In general, imports continue to indicate a mild reduction. The pace of growth appeared the most rapid in 2021 when imports increased by 7.2%. Global imports peaked at 880K tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, color printing ink imports declined to $6.1B in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 19%. As a result, imports reached the peak of $7.8B. From 2018 to 2022, the growth of global imports remained at a somewhat lower figure.

Imports By Country

The countries with the highest levels of color printing ink imports in 2022 were Belgium (46K tons), Germany (42K tons), the United States (40K tons), France (38K tons), Poland (30K tons), Italy (27K tons), Russia (26K tons), the Netherlands (24K tons), the UK (23K tons), Canada (20K tons), Spain (17K tons) and Austria (17K tons), together resulting at 49% of total import. Mexico (15K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +5.7%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($461M), Germany ($395M) and France ($336M) appeared to be the countries with the highest levels of imports in 2022, together comprising 19% of global imports.

Among the main importing countries, the United States, with a CAGR of +4.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average color printing ink import price stood at $8,624 per ton in 2022, growing by 4.1% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The pace of growth was the most pronounced in 2017 an increase of 14%. As a result, import price reached the peak level of $9,098 per ton. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($13,013 per ton), while Belgium ($3,490 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Color Printing Ink

In 2022, global exports of color printing ink shrank slightly to 651K tons, with a decrease of -4.2% compared with the previous year's figure. Overall, exports showed a slight downturn. The most prominent rate of growth was recorded in 2017 with an increase of 15% against the previous year. As a result, the exports attained the peak of 938K tons. From 2018 to 2022, the growth of the global exports remained at a somewhat lower figure.

In value terms, color printing ink exports amounted to $5.2B in 2022. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 18%. As a result, the exports reached the peak of $6.8B. From 2018 to 2022, the growth of the global exports remained at a somewhat lower figure.

Exports By Country

In 2022, Germany (140K tons), distantly followed by the Netherlands (60K tons), the United States (40K tons), India (39K tons), Spain (33K tons) and Italy (31K tons) represented the key exporters of color printing ink, together creating 53% of total exports. China (26K tons), Belgium (22K tons), France (22K tons), Japan (21K tons), Luxembourg (19K tons), South Korea (19K tons) and Israel (18K tons) held a minor share of total exports.

Exports from Germany decreased at an average annual rate of -5.3% from 2012 to 2022. At the same time, Luxembourg (+36.9%), Israel (+16.6%), India (+5.8%), Spain (+4.6%), Japan (+2.3%), China (+2.1%) and Belgium (+1.3%) displayed positive paces of growth. Moreover, Luxembourg emerged as the fastest-growing exporter exported in the world, with a CAGR of +36.9% from 2012-2022. France experienced a relatively flat trend pattern. By contrast, Italy (-1.9%), the Netherlands (-3.3%), South Korea (-4.3%) and the United States (-5.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India, Luxembourg, Spain and Israel increased by +3.1, +2.9, +2.3 and +2.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest color printing ink supplying countries worldwide were Germany ($783M), the Netherlands ($489M) and Japan ($476M), with a combined 33% share of global exports. The United States, France, Belgium, Italy, Spain, India, Israel, China, South Korea and Luxembourg lagged somewhat behind, together accounting for a further 38%.

In terms of the main exporting countries, Luxembourg, with a CAGR of +34.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average color printing ink export price stood at $8,057 per ton in 2022, increasing by 4.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 5.6%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in years to come.

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 Japan ($22,586 per ton), while Luxembourg ($4,158 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform