South Africa Printing Inks Market – Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024

Posted By: Alok Kumar May 17, 2017

Albany, New York, May 17, 2017: The rapid rise in the pace of industrialization in emerging countries such as China, India, Taiwan, and Korea is creating a staggering demand for energy. As a result, there is an uptick in the installation of power plants and a subsequent increase in the implementation of heating systems in industries and production facilities. This is further translating into the greater adoption of burner management systems (BMS) for control and safety purposes.

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Moreover, the increasing stringency of government regulations, along with rising litigations for accidents, are promoting the installation of BMS. However, the reluctance of various operating companies in shifting from manual safety controls to burner management systems is limiting the global BMS market from realizing its utmost potential.

According to a report by Transparency Market Research (TMR), the Global Burner Management systems (BMS) market had a valuation of US$4.58 bn in 2015 and is poised to reach US$7.39 bn by the end of 2024. Owing to all the aforementioned factors, the market is projected to progress at a CAGR of 5.6% between 2016 and 2024.

Pressing Need for Safer and Cleaner Surroundings to Trigger Demand for Electricity-based BMS

On the basis of fuel, the global BMS market is classified into oil, electricity, and gas. Oil-based burners dominated the market in 2015, representing 41.1% of the overall market value. Electricity-based burners are estimated to register noteworthy growth over the review period owing to the soaring need for safer and cleaner environment in industries.

Based on component, the market is divided into hardware and software. Hardware held the lion’s share in 2015, commanding for more than 54.0% of the overall market value. Owing to their significant functionalities and importance in meeting the design criteria for industry-critical operations, the segment is expected to expand at a CAGR of 5.9% during the forecast period.

Strong Presence of BMS Manufacturers behind North America’s Leadership

The key regional market methodically examined are North America, Asia Pacific, Europe, and Rest of the World. North America was the dominant segment in 2015, accounting for over one-third of the overall market value. A large number of key manufacturers are headquartered in the region, which is leading to the early introduction and acceptance of advanced burner management systems. Asia Pacific is anticipated to rise at a CAGR of 6.1% during the same period. The growth of this region can be primarily attributed to the growing population and rapid industrialization in countries such as India, Japan, and China.

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Key Players Focus towards Product Innovation to Stay Ahead

As per the findings of the report, the top ten players in the global BMS market accounted for nearly 45% of the overall market in 2015. This indicates a highly fragmented nature of the market. The presence of a large number of international and local players in the marketplace is compelling companies to offer a diverse range of products at affordable prices. Key players are aiming at expanding their market shares and staying ahead of their peers through product innovation. Some of the leading players in the global BMS market are Siemens AG, ABB Ltd., Honeywell International, and Alstom.

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South Africa Printing Inks Market – Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024

TOPICS:Printing Inks Industry Analysis Printing Inks Market Printing Inks Market Forecast Printing Inks Market Research Printing Inks Market Research Reports

Posted By: Alok Kumar May 16, 2017

Albany, New York, May 15, 2017: The printing industry is a chief 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 mounting demand for printing inks from several end-use industries is expected to boost the growth of the market in the coming years. The intensifying apprehensions among consumers pertaining to environment protection is anticipated to impel companies to manufacture environment products.

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According to a report published by Transparency Market Research, 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.

Digitization to Have Dual Impact on Market Growth

With the growing trend of e-commerce, other trends such as online reservations, e-tickets, and e-books are also gaining traction. This has led to a significant decline in the channels which are paper based, hence challenging the commercial and publication printing industry. However, the market may be slightly impacted by this as the use of digital printing inks in architectural designs, desktop publishing, advertising, fine arts, and textiles in also flourishing.

Offset Printing to Gain Prominence owing to Expansion of End-use Industries

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 sector of flexographic ink is the packaging industry and a stable growth in the packaging industry is anticipated 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.

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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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