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Analysis of Adhesive Industry Competitive Pattern |
Public date:2018-5-16 Hits：3115 |
Adhesives are widely used in various fields of the national economy due to the advantages that they can achieve the connection of the same kind or dissimilar materials, no stress concentration of the joint parts, high bonding strength, and easy automation of combined operations, and have become indispensable for national economic development. Chemical products.
1, the upstream supplier's bargaining power
Suppliers mainly influence the profitability and product competitiveness of existing companies in the industry through their ability to increase input factor prices and reduce unit value quality.
The proportion of raw material cost of polyurethane adhesive in the total production cost is maintained at about 90%, of which five kinds of raw materials such as MDI, diethylene glycol, adipic acid, ethyl acetate and isophthalic acid account for about 55-60%. According to the formula, the proportion has changed. Thus, raw materials are mainly supplied by petrochemical groups such as Sinopec, PetroChina, Bayer (China), Yantai Wanhua, and domestic large chemical companies. However, key raw materials, high-performance and high-quality additives need to be imported, and it is difficult to resolve domestically in the short term. In general, raw materials for composite polyurethane adhesives belong to monopolistic competition industries. These enterprises have a stable market position, few substitutes, and implement joint operations. Therefore, they have stronger bargaining power.
In the first quarter of 2013, prices of major chemical and basic raw materials such as adipic acid continued to rise, resulting in a drop in the industry's first quarter profit. The gross margin of Gaomeng Xincai reported in one quarter was 23%, which was 3% lower than the 2012 annual report and 5 percentage points lower than the same period of last year. The net interest rate also fell below 10%, the lowest level in the same period in the last three years.
2, downstream buyers bargaining power
The purchaser mainly influences the operating performance of existing enterprises in the industry by requesting an extension of the account period, lowering prices, and providing higher product or service quality.
China has a wide variety of food and pharmaceutical flexible packaging. Plastic film, paper, metal and other packaging materials generally account for 80% of the total composition, adhesives account for 10%, and inks and other substances account for 10%. China's soft packaging accounts for less than 10% of drug value. Visible that the proportion of adhesive in the downstream product costs is very low, the downstream customers are more concerned about the stability of product quality, the price is followed, for high quality and stable products, downstream customers are willing to pay relatively high prices. However, there are a large number of adhesive companies and many product brands. Most companies provide medium and low-end products with low technological content and high selectivity for downstream customers. In general, downstream ordinary purchasers have a bargaining power, but large-scale brand companies have stronger bargaining power.
3, existing industry competition among the industry
At present, the competitive structure of the domestic structural adhesives market is a pyramid structure: multinational companies have complete product structures and leading technologies, and have the advantage of industrial chain competition, control key raw materials and core technologies, occupy a large market share, and have a certain scale and intellectual property rights. The domestic-funded enterprises, which focus on market segments and have a rapid growth, can compete with internationally renowned adhesive companies in some application areas. However, due to the control of key raw materials and high-end additives, the international competitiveness is not strong, and the construction cost of these enterprises is 1000- 20 million yuan / line, high product quality requirements; a large number of small and medium-sized enterprises, technical requirements are not high, product quality is not high, low product profits, small market share, the cost of these companies to build factories only 200-300 million, artificial Cost and environmental protection costs are low, and production is stopped without orders.
Adhesive companies have a large number of downstream customers and a wide geographical distribution. Enterprises often face competition in the country and even in the global scope. Industry competition factors are mainly reflected in the following aspects:
Enterprise scale: Only by forming a certain scale of funds and production scale, can we have the ability to arrange technological innovations, process upgrades, equipment renewal, and energy conservation and environmental protection. Larger enterprises have relatively higher bargaining power in the upstream and downstream.
Technology R&D Capabilities: With the widening of application fields and the specific requirements of various industries and industries, the function of composite materials should be varied. Therefore, the adhesives used in the manufacture of composite materials are also developing in the direction of high quality and individualized functionality. . With the trend of functional adhesives, companies need to have a certain amount of technology research and development capabilities to meet the individual needs of different customers and different products, and become the leading companies in market segments.
Sales channels: Adhesives account for a relatively small proportion of downstream product costs, domestic orders are relatively small, and many downstream customers are scattered. A well-developed marketing channel is a necessary guarantee for large-scale operations, and has become the core competitiveness of domestic adhesive companies. one. The mature sales channel is not only a strong guarantee for product sales, but also an effective platform for implementing corporate marketing strategies, and it is an important weight to compete with internationally renowned companies.
Technical Service Capability: Polyurethane adhesives have certain specialized and personalized requirements. How to guide customers in the use of composite polyurethane adhesive products to play the most effective and appropriate product characteristics, efficiently meet their application needs, establish a good customer relationship, and Through the interaction of a large number of professional and prompt follow-up services to the customer, existing customers can purchase again, create new demands, and propose new applications.
Professionals: The talent issue is the bottleneck problem facing the adhesive industry in China. The rapid development of the adhesive industry has triggered a sharp increase in demand for talents. However, the total amount of adhesive professionals in China is relatively inadequate, the distribution is uneven, and the structure is irrational. With the exception of a few chemical engineering colleges that specialize in adhesives, China has not yet established a system for cultivating adhesive professionals. At present, the professionals in the industry are mainly technical teams with rich industry experience.
4. The threat of new entrants
New entrants, while bringing new production capabilities and new resources to the industry, will hope to win a place in the market that has already been divided up by existing companies. This may cause competition with raw materials and market share with existing companies. As a result, the profitability of existing companies in the industry is reduced, and in serious cases, the survival of these companies may also be jeopardized.
At present, the country has no special qualification restrictions on the adhesive industry. The industry has a rapid growth rate, low investment, and high profits. This has attracted the attention of many capitalists and has exacerbated competition in the industry. However, in order to prevent industry risks, the state has issued a series of restrictions on environmental protection in a timely manner, which provides a strong guarantee for the healthy development of the adhesive industry.
5, the threat of alternatives
Substitutes are those that have the same function or similar function as the customer's product. Because the adhesive has a wide range of applications and strong functionality, it is an indispensable intermediate material for the national economy and a variety of industries and a necessity for people's lives. Therefore, adhesives have less pressure for alternative competition. |
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