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The German printing industry is reported to be facing multiple challenges with low margins and closures announced in recent weeks adding to the tight conditions, Fastmarkets has heard.
Bruns Druckwelt and the Schleswig-Holstein newspaper printing center are among the latest printing sites to announce plans to cease operations, with both facilities scheduled to close by the end of 2026. Alongside this, Rindt GmbH & Co. KG printing company filed for insolvency towards the end of January.
The printing companies individually said the decision to close was driven by declining demand for printing papers, alongside increased raw material costs, highlighting the vulnerability of smaller printing firms balanced with persistent margin pressure.
Market participants said the closures reflect deeper financial challenges, with tightening credit conditions and a lack of confidence arising from financial institutions.
“We see nearly every week credit insurance on German printers, [and in other markets], being significantly reduced or, in some cases, cut to almost zero,” a source at a major European publication paper supplier told Fastmarkets. The source added that smaller participants are particularly affected, limiting their ability to secure financing and continue operations.
Official figures from the German Printing and Media Industries Federation (BDVM) show insolvencies in Germany’s printing industry have increased steadily in recent years, rising from 47 cases in 2021 to 71 in 2024. In the first ten months of 2025 alone, 79 insolvency proceedings were opened, indicating continued financial stress within the sector.
BDVM noted that the rise in insolvencies is not unique to printing but reflects broader economic weakness across Germany’s manufacturing sector, following multiple crises and two consecutive years of recession.
But market participants pointed to longstanding overcapacity as a key driver of closures, with too many printers competing for limited demand.
“There are simply too many printers in Germany,” another source said, adding that larger companies are able to exert stronger competitive pressure, leaving smaller operators unable to compete on price.
This imbalance has accelerated consolidation across the sector, with many smaller printers either closing or being acquired by larger groups.
The market noted severe price distortions in the heatset printing segment, which has traditionally commanded a premium over coldset printing due to higher production and energy costs.
But heatset printing prices have fallen significantly in recent years and are now reported to be around €40 ($47) per tonne below coldset prices.
While heatset printing carried a premium of around 25%, intense competition and aggressive pricing, driven in part by large-volume retail contracts, have pushed prices down, reported market participants.
Sources warned that any significant increase in heatset paper prices could further destabilize the market.
“If heatset prices rise substantially, demand could fall sharply, and weaker printers may not survive,” a market participant said. “There is no reason for the heatset price to be lower, and this is something that the coldset players can’t accept.”
It was also noted that low margins are leaving German printers particularly vulnerable, and while publication paper prices in Germany have remained relatively stable in recent months, printing margins remain extremely thin, “leaving many printers operating in survival mode.”
Although lower paper costs have provided some short-term relief, sources told Fastmarkets that many printers have been unable to rebuild financial reserves, leaving them exposed to future cost increases or demand declines.
Market participants said the sector remains under pressure, with overcapacity and weak margins continuing to weigh heavily on smaller and mid-sized printers and competition remaining intense while the larger companies benefit from stronger financial backing.
Sources indicated that they are expecting additional insolvencies and closures to occur in the coming months while weaker companies struggle to remain viable.
It has become clear from sources that the German printing sector now faces a period of continued restructuring.
One participant summed up the current sentiment, saying, “Everyone is waiting on the news of further closures in Germany, adding to the pressure that is already evident in the market.”
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