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.
“Various types of
printing inks and varnishes are used on a wide range of substrates
and surfaces to develop rub-resistant and weather-resistant
properties on packaging materials,” the author of the study has
noted. Flexographic and gravure printing inks are used extensively
for flexible and convertible materials. Low migration inks and
water-based inks are highly popular in the food packaging industry as
these result in lower side effects.
Dual Impact of Growing Popularity of
Digitalization
The trend of e-commerce
is rising at a significant pace across the globe, giving rise to
trends such as e-books, e-tickets, and online travel and hotel
reservations. This has resulted in a substantial decrease in
paper-based communication channels, thereby obstructing the
conventional publication and commercial printing industry. The South
Africa printing inks market, as a result, is threatened by this
rapidly growing trend of digitalization.
Nevertheless, the rising
use of digital media does offer the printing inks market in South
Africa some respite as it is likely to drive the demand for digital
printing inks. “Digital printing is used in textiles, fine arts,
advertising, desktop publishing, and architectural designs and is
preferred over traditional printing as it offers flexibility and
speed,” the TMR analyst states.
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This review is based on
the findings of a TMR report titled “Printing Inks Market
(Application - Screen Printing, Flexographic Printing, Gravure
Printing, Offset Printing, Digital Printing, and Specialty Printing;
End Use - Publication and Commercial Printing, Packaging, Textiles,
Metal Cans, and Decorative Inks) - South Africa Industry Analysis,
Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
This report segments the printing inks market in
South Africa as follows:
Printing Inks
Market – Application Analysis
- Screen Printing Inks
- Flexographic Printing Inks
- Gravure Printing Inks
- Offset Printing Inks
- Digital Printing Inks
- Specialty Inks
Printing Inks
Market – End-user Analysis
- Publication & Commercial Printing
- Packaging
- Textiles
- Metal Cans
- Others (Decorative inks, etc.)
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