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South Africa Printing Inks Market Emerging Growth Factors and Forecast to 2031
3/22/2022
South Africa Printing Inks Market: Introduction
The printing inks market in South Africa was valued at US$ 120 Mn in 2020 and is anticipated to expand at a CAGR of ~7% during the forecast period of 2021 to 2031. The printing inks market in South Africa is driven by the increase in demand for printing inks in publication and commercial printing industries; and rapid expansion of the digital printing industry in the country. The inclination toward packaged products has been rising in South Africa. This trend is responsible for the growth in the demand for printing inks in the packaging sector in the country. Superior properties of printing ink constituents such as pigments, binders, solubilizers, and additives to produce text, design, or images; and changing consumer preference are expected to boost the demand for printing inks in South Africa in the near future. The wide usage of printing inks in the newspaper industry is boosting the printing inks market in South Africa. Printing inks help reproduce and transfer an image from a printing surface.
Key Drivers of South Africa Printing Inks Market
Printing inks are made of solutions of dyes and insoluble colors. The printing industry in South Africa plays a valuable role in the economy and provides significant employment opportunities. Around 2,000 commercial printing companies operate in the country. Most of these are small, medium, and micro enterprises (SMMEs). Approximately 1,000 companies provide pre-press services, such as design and layout, or post-press services, including finishing and binding. Thus, rapid expansion of the printing industry is expected to boost the printing inks market in South Africa during the forecast period. The demand for printing inks is increasing in South Africa, owing to the extensive usage of these inks in various commercial process industries. Printing inks are employed to print details regarding products on their packaging. The increase in stringent regulations to enhance transparency about packaging products in order to avoid adverse health consequences resulting from inhalation of toxic substances is estimated to propel the printing inks market in South Africa during the forecast period.
The rapid expansion of publication & commercial printing, packaging, textiles, metal cans, and decorative inks industries offers immense potential for the printing inks market in South Africa. The growth of the packaging industry is also boosting the printing inks market in South Africa, as printing inks are mostly used in packaging to convey information to customers regarding the product. The availability of inexpensive labor, favorable government policies, strong manufacturing base, and shift in manufacturing facilities of printing inks from the western regions to South Africa are expected to boost the consumption of printing inks in the country.
Stringent Regulations, High Cost of Raw Materials to Hamper South Africa Printing Inks Market
The implementation of stringent regulations over the usage of volatile organic compounds is likely to hamper the printing inks market in South Africa. The emission of volatile organic compounds poses a threat to the environment. Flexographic and gravure printing inks are primarily used with solvents as base materials. These printing methods are widely employed in flexible packaging, especially in food and beverage applications. Solvent-based inks consist of inorganic solvents and toxic metals such as cadmium, hexavalent chromium, lead, and mercury. These lead to various health hazards when they come into direct contact with edibles. The number of safety regulations in South Africa has increased in order to avoid adverse health consequences from the intake of toxic substances. This is likely to hamper the printing inks market in South Africa.
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The trend of eCommerce and e-literature/tickets/coupons is rising at a significant rate across the globe. This is impacting the market in South Africa as well, thereby creating a negative impact on the conventional publication & commercial printing industry. Thus, substantial decrease in paper-based communication channels is estimated to hinder the printing inks market in the country. The growth in trend of eCommerce (including e-books, event tickets, sporting goods, toys, hotels, and airline reservations) is projected to adversely affect the printing inks market, thereby acting as a restraint for the printing inks market in South Africa.
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