Use of Printing Inks for Publication and Commercial Use to Augment Market Growth
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.
Albany, New York, 14 April 2017: The printing industry is a prime 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 growing demand for printing inks from several end-use industries is expected to boost the growth of the market in the coming years. The rising concerns among consumers pertaining to environment protection is anticipated to impel companies to manufacture environment products.
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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.
Offset Printing to Lead in terms of Consumption
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 of flexographic ink is the packaging industry and a steady growth in the packaging industry is expected 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.
Manufacturers of Printing Inks to Seek Profitable Opportunities from Growing Consumption of Packaged Consumer Goods
Printing ink in South Africa has applications in industries such as metal cans, textiles, packaging, and commercial and publication printing. The industry of packaging has emerged as an extremely attractive segment in terms of consumption of printing inks in South Africa. The demand for packaged consumer products is expected to boss the growth of the market in the near future. The sector of commercial and publication printing is also one of the prime contributors to the revenue of the South Africa printing inks market due to the significant progress of print media in the last couple of years. However, the shift to digital media from print media is expected to slightly hamper the growth of this market.
Browse the full Press Release of South Africa Printing Inks Market at :http://www.mrrse.com/south-africa-printing-inks-industry
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.
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Apr 14, 2017