Philippines: Ink Market 2024

Ink Market Size in the Philippines

The Philippine ink market skyrocketed to $X in 2022, surging by X% against the previous year. In general, consumption continues to indicate a prominent increase. Ink consumption peaked in 2022 and is expected to retain growth in years to come.

Ink Production in the Philippines

In value terms, ink production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a prominent increase. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

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Ink Exports

Exports from the Philippines

In 2022, overseas shipments of inks (excluding printing ink) decreased by X% to X tons, falling for the third consecutive year after two years of growth. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, ink exports reduced sharply to $X in 2022. Over the period under review, exports, however, showed a slight expansion. The growth pace was the most rapid in 2018 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Germany (X tons) and Japan (X tons) were the main destinations of ink exports from the Philippines, together accounting for X% of total exports. The UK, France, India, Canada, China, Thailand, Australia, Mexico, Indonesia and Singapore lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for ink exported from the Philippines were the United States ($X), Japan ($X) and Germany ($X), together comprising X% of total exports. The UK, France, Australia, Canada, Mexico, Thailand, China, India, Indonesia and Singapore lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, the UK, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average ink export price amounted to $X per ton, surging by X% against the previous year. In general, the export price showed a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%), while the prices for the other major destinations experienced more modest paces of growth.

Ink Imports

Imports into the Philippines

In 2022, supplies from abroad of inks (excluding printing ink) decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, imports, however, posted buoyant growth. The pace of growth was the most pronounced in 2017 with an increase of X%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, ink imports dropped to $X in 2022. Over the period under review, imports, however, posted a strong expansion. The pace of growth appeared the most rapid in 2017 when imports increased by X%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest ink supplier to the Philippines, with a X% share of total imports. Moreover, ink imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), sevenfold. India (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and India (X% per year).

In value terms, Japan ($X), China ($X) and the UK ($X) were the largest ink suppliers to the Philippines, together accounting for X% of total imports.

Among the main suppliers, the UK, with a CAGR of X%, saw the highest growth rate of 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 2022, stabilizing at the previous year. Overall, the import price recorded a buoyant increase. The growth pace was the most rapid in 2017 an increase of X%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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