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The current situation and analysis of domestic and foreign ink enterprises

the current situation and analysis of domestic and foreign ink enterprises

june 29, 2004

since 2000, the ink industry in the United States, Japan, Germany and other major ink producing countries in the world has continued to be depressed due to the slow economic development and the recession of the printing industry. According to the statistics of the American Printing Ink Manufacturers Association (NAPIM), in the first three quarters of 2003, the sales volume of printing ink in the United States decreased by 3.3%, while the sales volume decreased by 4.1%, in which the sales volume and sales volume decreased by 3.4% and 5.0% respectively in the field of publishing and commercial paper, while in the field of packaging, they decreased by 2.8% and 3.0% respectively. These data show that not only the sales volume is declining, but also the price is declining more. Just as Mike m, President of Sunchemical North America, can increase the setting of safety valves to work together to protect the sensor urphy said: "for the American ink industry, 2003 is a challenging year. The recent government report shows that the economy is recovering, but in the ink industry, the recovery signal is still weak. The weakness of the printing market and the excess production capacity have led to fierce competition among printing enterprises. Therefore, more printing enterprises have transferred their pressure to suppliers, causing price chaos in the ink market. "

in view of this situation, European and American ink enterprises have adopted a variety of development modes, among which the most prominent phenomenon is the large-scale international mergers and acquisitions and frequent business restructuring, which are mainly manifested in three forms:

1. mergers and acquisitions between ink enterprises

1988, DIC ink Chemical Co., Ltd., the largest ink manufacturer in Japan, became the largest ink company in the world by acquiring Sun Chemical Company of the United States. In June, 1999, it signed a purchase intention with coats lorilleux. At that time, coats ranked third in the world, with annual sales of 890million US dollars. After the merger, DIC's annual sales reached 4.79 billion US dollars, making it the world's largest ink enterprise

flint ink, the world's second largest ink manufacturer, has made great efforts in Business Restructuring: in 1999, it completed the merger of Sacramento and inkcompany; In 2002, it successively acquired the businesses of German gebr.schmidt company in Europe and Canada. In 2003, it entered into business exchange with Swiss SICPA company as long as the core rod diameter meets the regulations and has sufficient hardness: it transferred the global business of safety ink used for banknote and bill printing to SICPA company, so that SICPA company has 80% share in the safety ink market in exchange, Flint acquired the global thermosetting and cold setting ink business of sikebay

in addition, in may2003, AkzoNobel ink (ANI) took over the Belgian company trenal S.A., which has been producing cold set and thermoset inks for 70 years, but the products still use the brand trenal. This acquisition has become the final chapter of the three major cold set ink manufacturers in Europe

2. Acquisition of raw material enterprises

the acquisition and merger of ink enterprises have further developed into the field of raw materials: Sun Chemical Company, a subsidiary of DIC company, acquired 50% of the shares of French AIC company (mainly producing pigments, additives and inks) in October2002, thereby increasing the control over the raw materials for producing safe and special inks. Sensitive (the company's sales volume in the North American ink market in 2002 was USD 115million, ranking fourth after sunchem, flint and inks) also made a lot of acquisitions: in 2001, on the basis of acquiring the industrial dye business of Crompton pigments, it successively acquired Syntec, a German manufacturer of imaging dyes and chemicals EGS special ink and dye company of Switzerland and Kimber Clark printing technology company (i.e. Formulabs, which is currently a subsidiary of Sensient) as the manufacturer of special ink

3. strategic cooperation

in addition to acquisitions and mergers, there are many forms of cooperation in foreign countries in the form of non mergers and acquisitions. For example, Sun Chemical and flint have conducted a lot of cooperation in some small varieties of inks, as well as the strategic alliance between Toyo (Toyo) ink company (the 5th in the world) and Sakata (Sakata) ink company (the 11th in the world) in Japan, On november15,1999, they signed an agreement to form a strategic alliance partner. Their global cooperation in logistics, OEM production arrangements and research projects is a model for cooperation among ink enterprises

these mergers and cooperation have greatly strengthened the development capacity of these multinational enterprises: (1) further expanded the market, (2) consolidated the core competition in technology and realized complementary advantages; (3) Joint procurement can be realized to reduce procurement costs. So as to help these enterprises continue to develop in the economic downturn

II. Development status and analysis of China's ink enterprises

since 1995, China's ink production has developed rapidly. The annual average growth rate has reached about 10%, and the growth rate from 2002 to 2003 has reached 19.31% (14.5% according to some data). It is expected that the growth rate in 2004 will remain above 10%. There are no more than two reasons for the sustained and high-speed growth of the production of Chinese ink Enterprises: (1) the rapid economic growth, with the GDP growth rate of 9.1% in 2003, has driven the rapid development of the packaging and printing industry, resulting in the growth of ink demand; (2) the continuous involvement of domestic and foreign enterprises and funds has led to the continuous growth of the production capacity of China's ink industry

according to statistics, there are more than 300 ink production enterprises in China (actually more than 400). According to the statistics of the National Bureau of statistics, in 2003, there were 11 production enterprises with an output of more than 5000 tons, and 3 enterprises with an output of more than 10000 tons: the output of Tianjin Toyo Ink Co., Ltd. was 16600 tons, accounting for 8.16% of the total output of the country; the output of HANGHUA ink Chemical Co., Ltd. was 14300 tons, accounting for 7.04%; the output of Taiyuan Gaoshi laurui ink Chemical Co., Ltd. was 13900 tons, accounting for 6.81%

although the development situation of domestic ink industry is good, there is still a big gap between enterprises and foreign countries:

(I) the enterprise scale is small, and the market share of a single enterprise is not high

in foreign countries, the ink industry is a highly concentrated industry. For example, in the European market in 1999, the market shares of major ink companies are as follows: Sun Chemical is 34%, BASF (BASF) is 14%, gebr.schmidt (Schmidt Brothers) is 11%, and Michael Huber (Michael amber), Flint ink (Flint ink) and Siegwerk (Siegwerk), ranking No. 4 ~ 6, are 7%. The top 6 companies account for 80% of the market share, while the top 4 companies account for 66% of the market share. According to Bain's classification of industrial monopoly and competition types, they belong to the "highly concentrated oligopoly" industry

in China, from the output in 2003, the top 6 enterprises accounted for only 34.24% of the total output, and the top 10 enterprises accounted for only 47.47%. At the same time, no enterprise accounted for more than 10%. Even from the perspective of enterprise groups, DIC accounted for the largest share. The total output of the three subordinate enterprises: Shanghai DIC, Shenzhen shenri and Taiyuan Gaoshi was 28100 tons in 2003, accounting for only 13.82% of the country. According to Bain's absolute concentration index division method, the market structure of the domestic ink industry is a competitive market structure, which belongs to the "low concentration oligopoly type". Compared with foreign countries, it is an industry with low concentration and low entry threshold

the "low concentration and oligopoly" market structure of China's ink industry has a direct impact on the development ability of China's ink enterprises, especially the technological innovation ability. Because the higher the degree of market concentration, the more active the technological innovation in the industry. As China's ink technology lags behind the world level, the primary task of China's ink enterprises is to change the current situation by strengthening technological innovation, gradually realize scale expansion and further improve market share

in this respect, DIC company of Japan has shown its brilliant strategy: relying on the strong technical strength and capital advantages of the head office, it has successively invested and established two successful companies in Shenzhen and Shanghai; In addition, through the merger of coats, it owns the shares of Taiyuan Gaoshi Laurie: in order to occupy the South China market, in addition to setting up a newspaper printing ink factory in Shenzhen, it recently invested 60million yuan with Yunnan Hongta Group to establish Yunnan Edison ink company (DIC owns 60% of the shares, Hongta group accounts for 30%, and the remaining 10% is held by Yunnan Tongyin). It plans to achieve a sales volume of 1.5 billion yen in 2008. On the whole, DIC has basically taken shape with Zhongshan, Guangdong as the center and the trend of large-scale expansion to the whole country. It occupies an important position in rotary printing ink, offset printing ink and gravure printing ink. In addition to occupying the ink market, DIC has also continued to act in the raw material market. After realizing resin production in Guangdong, DIC has established a pigment production base in Nantong, Jiangsu. On the one hand, DIC has nationalized the production of raw materials to reduce costs, and on the other hand, it has achieved control over the upstream market of ink production

Toyo Ink Co., Ltd. in Japan is also expanding. In addition to operating the existing two ink factories in Tianjin and Jiangmen, Guangdong, it has also established factories in Songjiang, Shanghai

domestic private ink manufacturers are also actively expanding: Suzhou dadongyang has invested 200million yuan to establish the largest private ink factory in China; Zhaoqing Tianlong is building a factory to produce more than 8000 tons of ink annually; Zhejiang yongzai Chemical Co., Ltd. is also building factories to adapt to the production situation of rapidly growing energy-saving transformation of more than 1000 sets of traditional injection machines

(II) weak technological innovation ability

in addition to using the power of capital to achieve scale expansion, domestic enterprises should also make innovations in technology, which was also highlighted at the 47th npiri (American printing ink Research Association) technical seminar held last year. In view of the large gap between domestic enterprises and foreign enterprises in both technical level and production efficiency, it is necessary to strengthen portfolio innovation

"ink combination innovation" in essence can be considered as a systematic and coordinated innovation behavior restricted by organizational and technical factors under the guidance of the development strategy of ink manufacturing enterprises. " "Ink combination innovation" generally includes various combination forms of various innovative behaviors, such as product innovation, process innovation, system innovation, management innovation, raw material innovation, equipment innovation, etc. this combination innovation is not limited to the ink enterprises themselves, but also includes the cooperative combination innovation with ink equipment enterprises

due to the technical characteristics of ink, "raw material innovation" is an important part of "product innovation" and "equipment innovation" is the root of "process innovation". Therefore, the following two combination innovation methods are more important in ink Enterprises: (1) the combination of organizational culture innovation and technology innovation, (2) the combination of product innovation and process innovation

1. combination of organizational culture innovation and technological innovation

due to the introduction of foreign capital, several large ink enterprises in China are in the process of adapting foreign culture to domestic culture. At the same time, Chinese ink enterprises are also in the initial stage from industrial production to development production. Therefore, we should first emphasize this "soft" combination innovation. For a specific ink enterprise, the coordination of technological innovation with organizational and cultural innovation is an important means to ensure technological innovation, and this combined innovation can be carried out regardless of the size of the enterprise

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