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 increasing penetration of multinational printing inks industry players is likely to create stiff competition for the domestic players in the South Africa printing inks market.

The South Africa printing inks market 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. Such developments are key to the sustained growth of the South Africa printing inks market.

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The South Africa printing inks market was valued at US$85.9 mn in 2015 and is estimated to reach US$155.1 mn by 2024, expanding at a CAGR of 6.9% therein.

Offset Printing Offering Strong Scope for Growth of South Africa Printing Inks Market

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 in the South Africa printing inks market during the forecast period, with an 8.6% CAGR expected from 2016 to 2024.

By end use, the packaging sector is estimated to hold a share of just over 44.0% in the South Africa printing inks market by the end of 2016. Registering a 7.3% CAGR over the forecast period, the packaging industry is also expected to emerge as the most rapidly expanding end-use segment of the South Africa printing inks market 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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Rising Diversification of Packaging Sector Leads to Growing Demand for Printing Inks

The packaging industry in South Africa is fueled by the recent surge in the country’s GDP, the subsequent increase in individual disposable incomes, the 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. The rising use of online shopping portals is thus another key driver for the South Africa printing inks market.

“Various types of printing inks and varnishes are used on a wide range of substrates and surfaces to develop the resistance of packaging materials,” a TMR analyst notes. Flexographic and gravure printing inks are used extensively for flexible and moldable materials. Low migration inks and water-based inks are highly popular in the food packaging industry as they don’t cause any serious side effects.

Dual Impact of Growing Popularity of Digitalization on South Africa Printing Inks Market

E-commerce is growing at a significant pace across the globe, giving rise to a steady demand for e-books, e-tickets, and online travel and hotel reservations. This has resulted in a substantial decrease in the use of paper-based communication channels, obstructing the growth of the conventional publication and commercial printing industry. The South Africa printing inks market faces a considerable threat from the rapid rise in the popularity of digital media.

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 of operation and speed. This could be a significant opportunity for the South Africa printing inks market to adapt to its changing business environment and stay one step ahead of the challenge.