Colombia: Ink Market 2022

Ink Market Size in Colombia

The Colombian ink market was finally on the rise to reach $X in 2021, after four years of decline. Overall, consumption, however, showed a abrupt slump. Ink consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Ink Exports

Exports from Colombia

In 2021, ink exports from Colombia stood at X tons, approximately equating 2020. Overall, exports, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2017 when exports increased by 44%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, ink exports totaled $X in 2021. In general, exports, however, continue to indicate a slight decline. The most prominent rate of growth was recorded in 2017 when exports increased by 40%. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Ecuador (X tons) was the main destination for ink exports from Colombia, with a 64% share of total exports. Moreover, ink exports to Ecuador exceeded the volume sent to the second major destination, the Dominican Republic (X tons), fivefold. The third position in this ranking was held by Argentina (X tons), with a 5.8% share.

From 2012 to 2021, the average annual growth rate of volume to Ecuador totaled -7.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (+3.3% per year) and Argentina (-2.7% per year).

In value terms, Ecuador ($X) remains the key foreign market for ink exports from Colombia, comprising 70% of total exports. The second position in the ranking was taken by Argentina ($X), with a 6.7% share of total exports. It was followed by the Dominican Republic, with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Ecuador was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+8.3% per year) and the Dominican Republic (+9.3% per year).

Export Prices by Country

In 2021, the average ink export price amounted to $X per ton, growing by 13% against the previous year. Overall, export price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, ink export price decreased by -25.0% against 2016 indices. The pace of growth appeared the most rapid in 2013 an increase of 53% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+28.0%), while the prices for the other major destinations experienced more modest paces of growth.

Ink Imports

Imports into Colombia

In 2021, overseas purchases of inks (excluding printing ink) were finally on the rise to reach X tons after three years of decline. In general, imports, however, saw a deep reduction. The most prominent rate of growth was recorded in 2014 when imports increased by 38%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, ink imports surged to $X in 2021. Overall, imports, however, saw a deep setback. The pace of growth appeared the most rapid in 2016 with an increase of 32%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest ink supplier to Colombia, accounting for a 50% share of total imports. Moreover, ink imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. Peru (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-13.4% per year) and Peru (+78.1% per year).

In value terms, the largest ink suppliers to Colombia were the United States ($X), Germany ($X) and China ($X), with a combined 75% share of total imports. Peru, Taiwan (Chinese) and the UK lagged somewhat behind, together accounting for a further 16%.

In terms of the main suppliers, Peru, with a CAGR of +61.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ink import price stood at $X per ton in 2021, with an increase of 2.2% against the previous year. Overall, the import price, however, saw a slight decrease. The pace of growth appeared the most rapid in 2019 when the average import price increased by 11%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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