Over the last decade, the printing ink manufacturing industry's closing inventories in Canada have exhibited significant fluctuating trends. From 2013 to 2017, inventories fluctuated with a peak in 2016 and a subsequent sharp decline in 2018. Although there was a notable recovery in 2019, the trend resumed its downward trajectory. By 2023, closing inventories stood at CAD 34.95 million, marking an overall decline.
In terms of year-on-year variation, the years 2017 and 2018 saw substantial decreases of -11.32% and -21.14%, respectively. A rebound occurred in 2019 with a growth of 35.12%, but the subsequent years continued the declining trend. Specifically, 2021 to 2023 witnessed declines of -2.9%, -2.24%, and -2.27%, respectively. The CAGR from 2018 to 2023 was -1.81%, indicating a consistent reduction over the past five years.
Projecting into the future, the forecast from 2024 to 2028 suggests a continued downward trend in closing inventories, with a 5-year CAGR of -1.91%. This implies that by 2028, closing inventories are estimated to decline to CAD 31.01 million, resulting in an approximate 9.19% reduction over the period.
Future trends to watch for include the impact of digital transformation on the printing industry, shifts in consumer demand, and technological advancements in ink manufacturing. Additionally, economic fluctuations and supply chain disruptions will continue to influence inventory levels.
