Turkey: Ink Market 2024

Ink Market Size in Turkey

In 2022, the Turkish ink market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, continues to indicate a perceptible downturn. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Ink Production in Turkey

In value terms, ink production shrank to $X in 2022 estimated in export price. In general, production continues to indicate a slight reduction. The pace of growth was the most pronounced in 2019 with an increase of X%. 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 Turkey

Ink exports from Turkey totaled X tons in 2022, surging by X% compared with the previous year's figure. Overall, total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2018 indices. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, ink exports surged to $X in 2022. Over the period under review, exports showed prominent growth. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Russia (X tons), Bangladesh (X tons) and Iran (X tons) were the main destinations of ink exports from Turkey, together comprising X% of total exports. Bulgaria, Egypt, Uzbekistan, Iraq, Romania, Libya, Algeria, Azerbaijan, Israel and Lebanon lagged somewhat behind, together comprising a further X%.

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

In value terms, Russia ($X) emerged as the key foreign market for inks (excluding printing ink) exports from Turkey, comprising X% of total exports. The second position in the ranking was taken by Iran ($X), with a X% share of total exports. It was followed by Bangladesh, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (X% per year) and Bangladesh (X% per year).

Export Prices by Country

The average ink export price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, export price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when the average export price increased by X%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Romania ($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 Lebanon (X%), while the prices for the other major destinations experienced more modest paces of growth.

Ink Imports

Imports into Turkey

For the fifth consecutive year, Turkey recorded growth in overseas purchases of inks (excluding printing ink), which increased by X% to X tons in 2022. Over the period under review, imports enjoyed strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, ink imports soared to $X in 2022. In general, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest ink supplier to Turkey, with a X% share of total imports. Moreover, ink imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), fourfold. The third position in this ranking was held by France (X tons), with a X% share.

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

In value terms, the largest ink suppliers to Turkey were China ($X), Japan ($X) and Italy ($X), with a combined X% share of total imports. France, the UK, Germany, the United States, India, the Netherlands, Taiwan (Chinese) and South Korea lagged somewhat behind, together comprising a further X%.

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

Import Prices by Country

In 2022, the average ink import price amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the import price continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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