Printing Inks Market Analysis, Current and Future Trends

The printing inks market in South Africa is highly fragmented and the top six companies cumulatively accounted for more than 60% in 2015. These companies are New Africa Inks (Pty) Limited, Constantia Printing Inks, Hi-Tech Inks (Pty) Ltd., Flint Group South Africa Ltd., Hostmann-Steinberg South Africa (Pty) Ltd., and NUtec Digital Ink (Pty) Ltd. Transparency Market Research finds that the penetration of global players is likely to create stiff competition for the domestic players in the printing inks market in South Africa.

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The printing inks market is moderately fragmented and is not dominated by any single manufacturer. Existing players are constantly developing new products to expand their consumer base. For instance, in August 2016, Flint Group Flexible Packaging launched VarioLam AB LEC. This range of multi-functional polyurethane-based (PU-based) inks are known to withstand the moisture, heat, and pressure of the retort process, provide an extended shelf life, and ensure the safety of the contents.

The South Africa printing inks market was valued at US$85.89 mn in 2015 and is estimated to reach US$155.13 mn by 2024, expanding at a CAGR of 6.9% therein.

Offset Printing Offering Strong Scope for Growth

In terms of volume, offset printing inks held the dominant share of over 40.0% in 2015 and are anticipated to continue leading the printing inks market in South Africa. The digital printing inks segment, on the other hand, is projected to witness strong growth during the forecast period, exhibiting an 8.6% CAGR from 2016 to 2024.

By end use, the packaging sector is estimated to hold a share of just over 44.0% by the end of 2016 in terms of value. Registering a 7.3% CAGR during the course of the forecast period, this industry is expected to emerge as the most rapidly expanding end-use segment by 2024. The publication and commercial printing industry is also a prominent market for printing inks in South Africa and is projected to present several opportunities for growth.

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Surging Demand for Printing Inks in Packaging Sector

The packaging industry – one of the major consumers of printing inks in South Africa – is fueled by a surge in the country’s GDP, an increase in individual disposable income, continuously changing lifestyles of the consumers, and a growing youth population. Any growth in the demand for packaged consumer goods has a positive impact on the printing inks market in South Africa.

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This release was published on openPR.