Analysis on the competition and profitability of t

2022-10-16
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Carbon black industry competition and profitability analysis

I. industry concentration analysis

at present, China's carbon black enterprises are mainly concentrated in Shandong and Shanxi provinces. Among them, there are more than 14 carbon black production enterprises in Shandong Province and more than 23 in Shanxi Province. Bring energy efficiency according to the production situation of China's carbon black industry in recent years, using linear correlation analysis, it is estimated that the domestic carbon black output will reach 5.83 million tons by 2017

at present, East China and North China have the largest production capacity. It can be seen that under the influence of strong demand, many enterprises in the country's most important tar supply areas and tire production areas have expanded their production capacity, resulting in the problem of oversupply in the carbon black market, especially under the continuous slowdown of the growth rate of the car market and tires, and this contradiction has been amplified in the off-season months. According to incomplete statistics, there are about 18 enterprises with a production capacity of more than 100000 tons in China, including 6 in East China and 8 in North China. Domestic carbon black enterprises are still dominated by small and medium-sized enterprises, and the concentration of manufacturers is not high. Strengthening the market requires long-term integration

II. Industry competition pattern

more than 100 carbon black enterprises in China can be roughly divided into three levels according to their scale. The first level is international carbon black enterprises and several domestic large carbon black (1) and dial selection: enterprises that should estimate the maximum load before the experiment; The second level is most domestic carbon black enterprises with a single furnace capacity of 20000-30000 tons/year; The third level is carbon black enterprises that adopt the early new process carbon black technology with a single furnace capacity of 5000-10000 tons/year and adopt the dry granulation process. Generally, it is a mallet shaped enterprise pattern with large middle and small two ends

according to the statistics of the Rubber Association, 38 key carbon black enterprises among its members achieved a year-on-year increase of 4.55% in current price industrial output value in 2012, and achieved a year-on-year increase of 3.64% in sales revenue; The total output of carbon black increased by 14.26% year-on-year, of which the output of wet carbon black increased by 15.12% year-on-year. The export delivery value increased by 34.58% year-on-year, and the export rate (value) was 17.30%, an increase of 3.86 percentage points compared with the same period last year; The export of carbon black increased by 42.89% year-on-year, and the export rate (volume) was 16.21%, an increase of 3.25 percentage points compared with the same period last year

in the enterprise system, the three pillars of state-owned, private and foreign-funded enterprises will gradually form, and the elastic deformation will disappear. Among them, the development of private carbon black enterprises is the most prominent, accounting for 59.7% of carbon black production capacity during the "Eleventh Five Year Plan" period and 66% in 2011. China's domestic carbon black industry already has three listed companies: black cat carbon black Co., Ltd., Longxing Chemical Co., Ltd. and Haiyin Maoming Huanxing. Among the top ten carbon black enterprises in China, the state-owned holding companies include Jiangxi black cat and Suzhou Baohua; There are five private enterprises, namely Longxing Chemical Industry, Qingzhou Boao, Shijiazhuang Xinxing, Liaoning carbon black plant and Daguang carbon black; There are two private enterprises, East China rubber and Taiwan China rubber; One Sino US joint venture, Cabot (China). The output of these ten enterprises is about 4million tons, accounting for about 60% of the national output. The production capacity exceeds 5million tons, accounting for nearly half of the country's total production capacity

III. analysis of industry profitability

in 2012, China's carbon black industry had different user groups. The overall situation of the industry was steadily developing, and the output and sales of carbon black were increasing. Through years of efforts, the domestic carbon black output and production scale have reached new highs. Since 2006, China's carbon black output has jumped to the first place in the world. By 2012, China's carbon black output has accounted for more than 30% of the world's total output. According to the statistics of China Rubber Association, 38 key enterprises of carbon black achieved a year-on-year increase of 4.55% in industrial output value at current prices in 2012, and achieved a year-on-year increase of 3.64% in sales revenue; The total output of carbon black increased by 14.26% year-on-year, of which the output of wet carbon black increased by 15.12% year-on-year

in recent years, the scale of China's carbon black industry has increased, the technical level has improved, the effect of environmental protection and energy conservation has appeared, but the profit has decreased, which is a problem worthy of serious reflection. As the price of raw materials continues to rise, and the sales price of carbon black cannot follow up in place, one of the main reasons is low-end overcapacity and excessive market competition, resulting in the intensification of vicious competition in the industry, resulting in the low profit margin of the whole industry

by analyzing the level of industry profit margin in recent years, it can be seen that after the financial crisis, the profit margin of industry sales revenue continued to be depressed, and the industry profit margin reached a peak of 4.96% in 2007 before the financial crisis. Although the carbon black market began to recover in 2009, the profitability of enterprises has not been improved. In 2011, the profit margin of industry sales revenue was 2.69%, slightly higher than that in 2010, which is also a manifestation of the harm caused by the financial crisis to China's carbon black industry

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