The black printing inks market in the UK has seen significant changes from 2013 to 2023. The market peaked in 2015 with a value of 26.176 million kilograms, but it's experienced a downward trend ever since. In 2023, the market volume stood at 13.276 million kilograms, marking a significant decline compared to earlier years.
Year-on-year variation over recent years shows a mixed pattern, with a notable drop of 6.99% between 2022 and 2023. The compound annual growth rate (CAGR) over the last five years till 2023 is -6.92%, indicating a consistent decline.
Future trends to watch for include:
- Technological advancements in digital printing reducing demand for traditional black printing inks.- Increased emphasis on sustainability and eco-friendly alternatives.- Shifts towards online content consumption reducing print media usage.
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