Profits lead to slow industrial upgrading Coatings enterprises pile up new three boards

Public data show that the domestic
coatings
market since 2002 has maintained an annual growth rate of more than 10%, especially in 2008-2011, the paint industry by the real estate industry, for three consecutive years to maintain a growth rate of more than 20%. According to statistics from the National Bureau of Statistics, there were 1,344
paint enterprises
above the national scale in 2014, with a cumulative output of 16.49 million tons.
, "Daily Economic News" reporter learned that after more than 10 years of development, the paint industry environmental protection products upgrade slowly. Up to now, in the field of wood furniture,
water-based coatings
the overall proportion of about 5%, the entire paint industry water-based coatings accounted for a lower proportion.
A person in charge of a large domestic paint enterprise, who did not want to be named, said that in the field of wood furniture, the reason for the slow promotion of water-based paint is mainly due to the lower cost of oily paint than water-based paint, and the construction process is less than water-based paint. For production enterprises, oily paint profit margin is also higher than water-quality paint. Fu Zhi,
editor-in
of United Coatings Network, said that in the automotive and other industrial paint fields, high-performance environmentally friendly paint prices are also very high. Paint industry has been for the construction, equipment, appliances and other manufacturing industry to complete the "clothing and hat" work, is a relatively subsidiary industry, upgrading is largely related to the upgrading of the entire downstream manufacturing level.
of upgrading the industry
the industry giant Carberry's full-year 2014 results, which have been involved in water-based coatings for more than a decade, have been announced. According to company insiders, last year, a total of 280,000 tons of paint production, revenue of more than 3 billion yuan, an increase of about 10% year-on-year.
public information shows that Carrie's main products include
interior and exterior
paint, wood furniture paint and so on. Among them, wood furniture paint is divided into oil and water. Although Carberry has increased its research and development efforts on
-
paints in the past two years, the terminal sales figures are not ideal.
the above-mentioned enterprise leaders revealed that in 2014 the company's wood furniture paint business revenue of 1.6 billion yuan, of which more than 1.2 billion yuan for paint paint, water-based paint only 100 million to 200 million yuan, the proportion is still low. In this regard, Carberry related people said, including enterprises, downstream furniture factories and consumers know that water-based paint is more environmentally friendly, but the water-based paint market has not been greatly promoted for many years. This is because for downstream furniture factory, water-like paint film is relatively oily paint thin, oily paint only need to be applied 2 layers, but if water-like paint may need to be applied 4 to 5 layers. And water-based paint drying by air-drying, drying speed slower than oily paint, which increases the cost of furniture factory and production processes, "furniture factory is also relatively sensitive to the cost of enterprises," so furniture factory generally do not like water-based paint.
, an analyst at Trot, believes that the slow upgrading of environmentally friendly coatings is mainly due to the cost-effective relationship. The profit margin of water-based coatings is lower than that of oily, and the end price is high, which leads to the lack of profit promotion in the development of water-based coatings.
The new three-plate company Ji people high-tech public transfer instructions show that from January to April 2014, the gross margin of the company's industrial paint products reached 33.44 percent, the gross margin of the reconcile paint was 29.39 percent, while the gross margin of water-based paint products was only 19.48 percent. Fu wisdom believes that the upgrading of the coating industry, in fact, depends to a large extent on the entire downstream manufacturing level, the lack of downstream manufacturing upgrade demand-driven, paint upgrade is also slow progress.
coating enterprises pile up new three boards
after the failed attempt to IPO, domestic paint enterprises have piled up new three boards, planning to list the transfer. Among them, Carrie's stock reform in June 2011 has been considered "the closest paint company to the listing", but in October 2012, the CSRC announced the IPO filing enterprise information, Carrie's IPO application was terminated on October 23.
, the 2012 environmental verification of Zhanchen paint was "hit back" by the State Environmental Protection Agency, and the application for an IPO failed. Metus changed to Guangdong Mei Tus Building Materials Co., Ltd. in early 2010, and after more than three years of efforts, the IPO also failed. In 2014, Matters applied to list a new three-board, has been listed in the new three-board.
Jianwei said that the main reason for the failure of domestic paint companies IPO is environmental verification. "The total amount of emissions is a threshold, the domestic large-scale coatings and
tumium dioxide
enterprises, mostly because of the total amount of emissions of hard indicators listed blocked."
industry analyst, who did not want to be named, said the Internet industry and some emerging technology products have been highly sought after by capital markets in recent years, and the paint industry is not a hot industry. Due to environmental protection, environmental assessment and other reasons, domestic paint companies often IPO is no. "Individual companies are due to auditing of long-term profit margins."
, Air China New Materials, Sedley, Jihua Materials, Uberco, Meijia New Materials, etc. have been successfully listed on the new three boards. In addition, Shandong Pentium paint industry, Jiangsu champion paint, Anhui Bimantang, Chiba pine paint and other companies also move frequently, planning to list.