Mexico: Ink Market 2022

Ink Market Size in Mexico

In 2021, after two years of decline, there was significant growth in the Mexican ink market, when its value increased by 13% to $X. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. Ink consumption peaked in 2021 and is likely to continue growth in the near future.

Ink Production in Mexico

In value terms, ink production reduced to $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 42% against the previous year. Ink production peaked at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Ink Exports

Exports from Mexico

In 2021, shipments abroad of inks (excluding printing ink) was finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. Over the period under review, exports, however, saw a deep contraction. The pace of growth was the most pronounced in 2016 with an increase of 102% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, ink exports fell remarkably to $X in 2021. In general, exports, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2016 with an increase of 44% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for ink exports from Mexico, with a 94% share of total exports. It was followed by Honduras (X tons), with a 2.9% share of total exports. The third position in this ranking was taken by Guatemala (X tons), with a 1% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +11.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (-16.0% per year) and Guatemala (-30.1% per year).

In value terms, the United States ($X) remains the key foreign market for ink exports from Mexico, comprising 78% of total exports. The second position in the ranking was held by Honduras ($X), with an 18% share of total exports. It was followed by Guatemala, with a 1.8% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +15.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+8.0% per year) and Guatemala (-24.2% per year).

Export Prices by Country

The average ink export price stood at $X per ton in 2021, dropping by -46.8% against the previous year. Overall, the export price saw a slight decrease. The most prominent rate of growth was recorded in 2015 when the average export price increased by 59%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Honduras ($X per ton), while the average price for exports to the United States ($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 Honduras (+28.6%), while the prices for the other major destinations experienced more modest paces of growth.

Ink Imports

Imports into Mexico

Ink imports into Mexico soared to X tons in 2021, rising by 36% compared with 2020 figures. In general, imports saw a buoyant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 65% against the previous year. Imports peaked in 2021 and are likely to continue growth in the near future.

In value terms, ink imports surged to $X in 2021. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 61% against the previous year. Imports peaked in 2021 and are likely to continue growth in years to come.

Imports by Country

China (X tons), the United States (X tons) and France (X tons) were the main suppliers of ink imports to Mexico, together accounting for 73% of total imports. Guatemala, Peru, Japan, Germany and the Philippines lagged somewhat behind, together comprising a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Guatemala (with a CAGR of +330.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and France ($X) appeared to be the largest ink suppliers to Mexico, together comprising 70% of total imports. These countries were followed by Guatemala, Germany, Japan, the Philippines and Peru, which together accounted for a further 17%.

Guatemala, with a CAGR of +240.7%, saw the highest rates of growth with regard to 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 ink import price stood at $X per ton in 2021, approximately equating the previous year. In general, the import price continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2018 an increase of 4.3%. The import price peaked 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 Germany ($X per ton), while the price for Peru ($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 Philippines (+0.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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