Philippines: Ink Market 2022

Ink Market Size in the Philippines

The Philippine ink market soared to $X in 2021, picking up by 175% against the previous year. In general, consumption showed resilient growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Ink Production in the Philippines

In value terms, ink production surged to $X in 2021 estimated in export price. Over the period under review, production saw significant growth. The pace of growth appeared the most rapid in 2018 when the production volume increased by 388% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Ink Exports

Exports from the Philippines

In 2021, overseas shipments of inks (excluding printing ink) decreased by -33.6% to X tons, falling for the second consecutive year after two years of growth. Overall, exports, however, saw a significant increase. The growth pace was the most rapid in 2018 with an increase of 305% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, ink exports contracted markedly to $X in 2021. In general, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 293% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

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 comprising 60% of total exports. These countries were followed by the UK, China, Thailand, Mexico, France, Canada, Singapore and Poland, which together accounted for a further 29%.

From 2012 to 2021, the biggest increases were in the UK (with a CAGR of +201.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Japan ($X) and Germany ($X) constituted the largest markets for ink exported from the Philippines worldwide, with a combined 61% share of total exports. The UK, China, France, Thailand, Mexico, Canada, Poland and Singapore lagged somewhat behind, together accounting for a further 28%.

The UK, with a CAGR of +205.7%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average ink export price stood at $X per ton in 2021, picking up by 11% against the previous year. In general, the export price, however, saw a pronounced decrease. The pace of growth was the most pronounced in 2013 an increase of 17%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was France ($X per ton), while the average price for exports to Singapore ($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 Poland (+13.8%), while the prices for the other major destinations experienced more modest paces of growth.

Ink Imports

Imports into the Philippines

In 2021, the amount of inks (excluding printing ink) imported into the Philippines reduced to X tons, waning by -11.1% on the previous year's figure. Over the period under review, total imports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +14.6% against 2019 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 29%. As a result, imports attained the peak of X tons, and then contracted in the following year.

In value terms, ink imports soared to $X in 2021. In general, imports, however, showed a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of ink to the Philippines, with a 58% share of total imports. Moreover, ink imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. Malaysia (X tons) ranked third in terms of total imports with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +16.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+17.4% per year) and Malaysia (+4.4% per year).

In value terms, Japan ($X) constituted the largest supplier of ink to the Philippines, comprising 50% of total imports. The second position in the ranking was held by China ($X), with a 17% share of total imports. It was followed by the United States, with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan totaled +13.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+4.4% per year) and the United States (-2.9% per year).

Import Prices by Country

In 2021, the average ink import price amounted to $X per ton, rising by 54% against the previous year. Over the period under review, the import price, however, showed a noticeable decline. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, 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 Thailand (+8.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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