Forecast: Value Added of Printing Ink Manufacturing in Canada

The value added of Printing Ink Manufacturing in Canada experienced significant fluctuations between 2013 and 2023. Notably, there was a sharp decline from 2013 to 2015, followed by sporadic recoveries and declines up to 2023. Specifically, the industry saw a pronounced drop of 19.33% in 2014 and 21.76% in 2015, but the industry rebounded by 25.42% in 2016. Further fluctuations ensued, with significant declines in 2017 and 2018 and moderate increases such as the 20.4% rise in 2019. The value stood at 78.61 million CAD in 2023, showing a slight year-on-year increase of 0.85% following a modest 2.7% rise in 2022. Over the last five years, the compound annual growth rate (CAGR) was a modest 0.52% by the end of 2023.

Looking ahead, the forecast for 2024-2028 indicates a gradual decline in value added, with an average annual decrease of 1.94%. By 2028, the sector is expected to shrink by 9.34% compared to 2023 levels.

Future trends to watch for:

• Technological advancements in printing technologies and their impact on ink demand.
• Sustainability and the shift towards environmentally friendly inks.
• Changes in global trade dynamics and their impact on Canada's printing ink industry.
• Evolving consumer preferences and the increased adoption of digital media over traditional print.