Photographic Paper Market

The global photographic paper market is forecasted to continue its downward trend over the next eight years, with a projected decrease in both volume and value. After a brief uptick in consumption in 2022, the market is expected to contract with an anticipated CAGR of -3.4% in volume and -1.3% in value from 2022 to 2030. Top consuming countries include China, India, and the United States, while the Netherlands and the United States are major exporters. Import and export prices show notable differences among countries, with the Netherlands leading in export price growth. Overall, the market is facing significant challenges with declining consumption, production, and trade.

Market Forecast

Depressed by shrinking demand for photographic paper worldwide, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -3.4% for the period from 2022 to 2030, which is projected to depress the market volume to 70M square meters by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of -1.3% for the period from 2022 to 2030, which is projected to bring the market value to $512M (in nominal prices) by the end of 2030.

Consumption

World Consumption of Photographic Paper, Paperboard And Textiles

In 2022, consumption of photographic paper, paperboard and textiles was finally on the rise to reach 93M square meters for the first time since 2012, thus ending a nine-year declining trend. Over the period under review, consumption, however, recorded a abrupt slump. Global consumption peaked at 187M square meters in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

The global photographic paper market revenue expanded markedly to $570M in 2022, with an increase of 9.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, saw a deep reduction. Global consumption peaked at $1.3B in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Consumption By Country

The country with the largest volume of photographic paper consumption was China (22M square meters), comprising approx. 23% of total volume. Moreover, photographic paper consumption in China exceeded the figures recorded by the second-largest consumer, India (9.8M square meters), twofold. The United States (6M square meters) ranked third in terms of total consumption with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at -3.9%. The remaining consuming countries recorded the following average annual rates of consumption growth: India (-10.4% per year) and the United States (-7.5% per year).

In value terms, China ($117M) led the market, alone. The second position in the ranking was taken by India ($49M). It was followed by the United States.

From 2012 to 2022, the average annual growth rate of value in China totaled -5.5%. In the other countries, the average annual rates were as follows: India (-12.3% per year) and the United States (-9.8% per year).

In 2022, the highest levels of photographic paper per capita consumption was registered in Singapore (386 square meters per 1000 persons), followed by the United Arab Emirates (155 square meters per 1000 persons), the Netherlands (144 square meters per 1000 persons) and Poland (57 square meters per 1000 persons), while the world average per capita consumption of photographic paper was estimated at 12 square meters per 1000 persons.

From 2012 to 2022, the average annual rate of growth in terms of the photographic paper per capita consumption in Singapore stood at +26.8%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the United Arab Emirates (-7.2% per year) and the Netherlands (+3.8% per year).

Production

World Production of Photographic Paper, Paperboard And Textiles

In 2022, approx. 59M square meters of photographic paper, paperboard and textiles were produced worldwide; which is down by -10.6% on the previous year's figure. Over the period under review, production continues to indicate a deep downturn. The pace of growth appeared the most rapid in 2021 with an increase of 18%. Over the period under review, global production reached the maximum volume at 160M square meters in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In value terms, photographic paper production dropped to $401M in 2022 estimated in export price. In general, production recorded a abrupt curtailment. The pace of growth was the most pronounced in 2021 with an increase of 13% against the previous year. Global production peaked at $1.3B in 2012; however, from 2013 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were China (27M square meters), the United States (15M square meters) and India (6.2M square meters), together accounting for 81% of global production.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +13.3%), while production for the other global leaders experienced mixed trends in the production figures.

Imports

World Imports of Photographic Paper, Paperboard And Textiles

After six years of decline, supplies from abroad of photographic paper, paperboard and textiles increased by 24% to 86M square meters in 2022. Overall, imports, however, saw a deep reduction. Over the period under review, global imports hit record highs at 192M square meters in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, photographic paper imports shrank modestly to $423M in 2022. Over the period under review, imports, however, faced a deep setback. The most prominent rate of growth was recorded in 2021 when imports increased by 7.1%. Over the period under review, global imports reached the peak figure at $1.2B in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports By Country

In 2022, the Netherlands (19M square meters) was the main importer of photographic paper, paperboard and textiles, committing 22% of total imports. Germany (6M square meters) held the second position in the ranking, followed by the United States (5.7M square meters), China (4.1M square meters) and Belgium (4.1M square meters). All these countries together held near 23% share of total imports. India (3.6M square meters), Poland (2.4M square meters), Singapore (2.3M square meters), France (1.9M square meters), Italy (1.9M square meters), the United Arab Emirates (1.7M square meters), Indonesia (1.6M square meters) and Brazil (1.6M square meters) took a minor share of total imports.

The Netherlands was also the fastest-growing in terms of the photographic paper, paperboard and textiles imports, with a CAGR of +36.1% from 2012 to 2022. At the same time, Poland (+6.2%) displayed positive paces of growth. Singapore experienced a relatively flat trend pattern. By contrast, Belgium (-3.0%), the United States (-5.8%), Germany (-6.0%), Indonesia (-7.7%), the United Arab Emirates (-7.9%), Italy (-10.3%), Brazil (-15.0%), France (-15.9%), China (-16.9%) and India (-18.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Netherlands, Poland, Belgium and Singapore increased by +22, +2.1, +1.9 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest photographic paper importing markets worldwide were Germany ($43M), Belgium ($25M) and India ($23M), with a combined 22% share of global imports. The United States, Singapore, Poland, France, Italy, Indonesia, the United Arab Emirates, the Netherlands, China and Brazil lagged somewhat behind, together comprising a further 32%.

Poland, with a CAGR of +6.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average photographic paper import price stood at $4.9 per square meter in 2022, falling by -22.4% against the previous year. Overall, the import price showed a pronounced reduction. The pace of growth appeared the most rapid in 2021 an increase of 17% against the previous year. Global import price peaked at $6.8 per square meter 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 importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($7.4 per square meter), while the Netherlands ($0.6 per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+3.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Photographic Paper, Paperboard And Textiles

In 2022, approx. 52M square meters of photographic paper, paperboard and textiles were exported worldwide; falling by -4.8% on 2021 figures. Over the period under review, exports recorded a abrupt curtailment. The growth pace was the most rapid in 2021 with an increase of 21% against the previous year. Over the period under review, the global exports hit record highs at 165M square meters in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, photographic paper exports surged to $470M in 2022. Overall, exports saw a abrupt descent. The global exports peaked at $1.2B in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports By Country

In 2022, the Netherlands (20M square meters) and the United States (15M square meters) represented the major exporters of photographic paper, paperboard and textilesacross the globe, together creating 66% of total exports. China (9M square meters) took a 17% share (based on physical terms) of total exports, which put it in second place, followed by Belgium (5.1%). Germany (1.9M square meters) took a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Belgium (with a CAGR of -1.9%), while the other global leaders experienced a decline in the exports figures.

In value terms, the Netherlands ($253M) remains the largest photographic paper supplier worldwide, comprising 54% of global exports. The second position in the ranking was held by China ($69M), with a 15% share of global exports. It was followed by the United States, with an 8.2% share.

In the Netherlands, photographic paper exports plunged by an average annual rate of -3.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (-4.4% per year) and the United States (-16.6% per year).

Export Prices By Country

The average photographic paper export price stood at $9 per square meter in 2022, increasing by 25% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($14 per square meter), while the United States ($2.6 per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform