The printing industry is a chief contributor to the South African economy. In spite of the impact digitization is having on traditional paper in the printing sector, the growth of this industry is likely to be stable over the coming years due to the abundance of raw materials and rich resources for producing paper. The South Africa printing inks market is rather consolidated with the segment of domestic manufacturers accounting for the leading share in the market. Nevertheless, the domestic companies are likely to face threats from the entry of global players in the South Africa printing inks market. The mounting demand for printing inks from several end-use industries is expected to boost the growth of the market in the coming years. The intensifying apprehensions among consumers pertaining to environment protection is anticipated to impel companies to manufacture environment products.
According to a report published by Transparency Market Research, the printing inks market in South Africa is likely to rise at a 6.9% CAGR from 2016 to 2024. The market was worth US$85.89 mn in 2015 and is likely to rise to a valuation of US$155.13 mn by the end of 2024. Owing to the growing local production in the country, the prices of printing inks are likely to stay stable over the forecast period, thus resulting in the decrease of imports for the market of printing inks in the country.
Digitization to Have Dual Impact on Market Growth
With the growing trend of e-commerce, other trends such as online reservations, e-tickets, and e-books are also gaining traction. This has led to a significant decline in the channels which are paper based, hence challenging the commercial and publication printing industry. However, the market may be slightly impacted by this as the use of digital printing inks in architectural designs, desktop publishing, advertising, fine arts, and textiles in also flourishing.
Offset Printing to Gain Prominence owing to Expansion of End-use Industries
On the basis, the market for printing inks in South Africa has been classified into specialty printing, digital printing, offset printing, gravure printing, flexography, and screen printing. The segment of offset printing held the leading share in the market in 2016 and is likely to retain dominance owing to rising applications in commercial printing and packaging and publication sectors. The incessant expansion of the end-use industries is likely to bode well for the growth of this segment. The segment of flexographic printing inks is also expected to hold a prominent place in the market as it is used exponentially in several applications across various end-use industries. The key consumer sector of flexographic ink is the packaging industry and a stable growth in the packaging industry is anticipated to propel the demand for flexographic inks in the coming years. The demand for digital inks is also expected to intensify with trend of digital media gaining traction in South Africa.
Browse the full South Africa Printing Inks Market report https://www.mrrse.com/south-africa-printing-inks-market
Some of the prime players in the market are Hostmann-Steinberg South Africa (Pty) Ltd., NUtec Digital Ink (Pty) Ltd., Flint Group South Africa Ltd., Select Inks, Hi-Tech Inks (Pty) Ltd., Constantia Printing Inks, GL Specialized Inks (Pty) Ltd., and New Africa Inks (Pty) Limited.