The market size of printing inks (excluding black) in Belgium has seen a consistent decline over the past decade with some fluctuations. The value dropped from 168.07 million euros in 2013 to 88.838 million euros in 2023. The steepest declines were observed in 2017 (-25.38%) and 2018 (-26.11%). Between 2019 and 2023, the market showed minor fluctuations, with a slight recovery in 2019 and 2020 but continuing its downward trend in subsequent years. The year-on-year variations for 2022 and 2023 were -3.58% and -3.68% respectively, illustrating a steady decline. The last 5-year CAGR indicates a marginal positive growth at 0.17%.
Future trends to watch:
- Continued innovation in digital printing technologies that might disrupt the traditional ink market.
- Shifts towards eco-friendly and sustainable products which may impact the demand for conventional inks.
- Potential recovery post-2028 depending on economic and technological advancements.
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