Waterbased Coatings Market
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 waterbased 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
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