Take you to understand the factors that affect the production and price of sealant

With the middle and lower reaches of the real estate industry and metal curtain wall industry to accelerate the way of collection, the brand power of sealant. According to Wind data, the market share of the top 100 real estate developers' sales area has increased from 22% in 2014 to 44% in 2019 and to 48% in the first half of 2020. Along with the middle and downstream real estate developers market concentration and the proportion of hardcover room to increase, the way of gathering more and more favored by real estate developers. At the present stage, moisture-proof, pipe fittings, floor tiles, building paint, solid wood doors, hardware and other several building decoration materials commodities have realized the purchase of real estate developers.

Promote the domestic sealant leading market share. Similar to the hardware industry, engineering prefabricated building sealant is not the final product, and generally needs to be combined with building curtain wall, Windows and doors and other equipment, so the common choice of "A refers to B" supply. Sealant enterprises through bidding into the library, in the late period by agents in the real estate enterprise selected qualified supplier library documents to select actual dealers, brand, price, service items, assets, etc., is the key factor of real estate enterprise evaluation. According to the statistical analysis of China real estate Industry Research Association, sealant division top 10 preferred rate since 17 years 77% increased to 20 years 88%, small and medium-sized manufacturers market share was further occupied. In addition, the leading Chinese industry has more advantages than the leading foreign enterprises in price, supply services and other fields. According to the selection results of the top 500 real estate industry, the top 10 sealant dealers are only one foreign company, Dow Corning. In 2020, all the listed Chinese famous brands are state-owned well-known brands. And China Engineering building Decoration Association evaluation of engineering building sealant top ten famous brands in only 2 international brands were selected, with the further development of the collection mode in the future, the leading market share of domestic sealant is expected to continue to improve.

The cost of environmental protection work pressure to accelerate the industry market clearance, the introduction of technology is expected to accelerate the sealant large industry small company characteristics are significant, the industry market concentration still needs to be improved. In China's sealant industry, the company market concentration is low, low-end industry competition is sufficient, the number of small and medium-sized enterprises. According to the data of China Bureau of Statistics, from 2011 to 2015, the total number of domestic enterprises above designated size for sealing filling materials and similar products processing and manufacturing is maintained at 180-200.

All adhesives and sealant industry competition is sufficient, but engineering construction sealing and RTV sales market Top10 market share of about 50%. According to our calculation, all adhesives and sealant industry has a broad scale of operation, many fine divided industries, leading market share is low, Hui Tian, Jitai, Si Bao, Kangda, Gao Meng and other five listed enterprises total market share is less than 4%, 17-18 years because of environmental protection, cost fluctuations and other elements of small and medium-sized enterprise market clearing, The total market share of the five increased by 0.25/0.56pct. But compared with the overall adhesive and sealant sales market, RTV and engineering prefabricated building sealant fine division market share is higher, 18 years of industry CR5 (Si Bao, cloud and white cloud, Zhijiang, set, Central Plains) total revenue accounted for the engineering building indoor temperature glue/sealant sales market share of 35%/43%, CR10 is 47%/58%, the sales market is relatively centralized, and the leader occupies a large market share.

In the field of high-grade use of international leading enterprises are more dominant, domestic brands to improve. State-owned well-known brands with engineering project end advantages in the engineering construction sealant industry has occupied a very large market share, but new energy technology, electronic devices, automotive construction and other industries are still by the international chemical giant Dow, the United States, Germany Henkel, 3M occupy! The main reasons are as follows: 1. Most domestic brands seize the market with the help of price and quantity, and pay little attention to the capacity building of product research and development and service projects; 2. 2, overseas sealant industry development planning is earlier, overseas leading enterprises according to the creation of Sino-foreign joint ventures or production sites in China to reduce the cost of various, in the market share and technology research and development has significant advantages of first mover.

Sealant cost composition of raw materials accounted for up to 90%, affected by upstream and downstream petrochemical industry. According to the 2019 annual report of Gitai Equity, in the cost composition of silicone/water-soluble/other sealant, raw materials occupy the largest share, respectively 91.7%, 89.6% and 93.4%. According to different types of commodities, the key sealing collagen materials are silicone rubber, styrene butadiene rubber, polyurethane materials, etc., which are petrochemical products or derivative products. A variety of fillers and modifiers such as polyethylene wax, kaolin, calcium carbonate, etc., belong to mineral and chemical raw materials. The price of petrochemical and chemical manufacturing industry is transparent, and the fluctuation of its transmission to the terminal equipment is smooth.

Large adjustment of raw material price, high sensitivity of profit margin. Take the most widely used silicone sealant as an example. According to the prospectus of Silbao Technology, the key raw materials of silicone sealant are 107 base glue (methyl sealing polydimethylsiloxane), 201 methyl silicone oil and calcium carbonate, which account for 84% of the main business cost in total, among which 107 silicone rubber and 201 methyl silicone oil occupy 62%/14% respectively. All of them are products of the whole industrial chain of organosilicon processing enterprises, and the remaining 8% is the cost of calcium carbonate. And organosilicone chemical intermediate DMC (dimethyl ring dimethyl siloxane mixture) or D4 (octa hydroxyring tetradimethyl siloxane) is the main material for the production and manufacture of 107 rubber, the sale of the market generally with DMC price a ton of up to 1,000 yuan as 107 silicone rubber performance price, In recent years, the trend analysis of the average price of silicone indoor temperature glue in our country is basically consistent with that of DMC. But because large and medium-sized building curtain wall engineering companies and Marine container companies are mostly seen downstream of the sealant, price adjustment times are low and relatively stable, and the profit margin of sealant companies is more sensitive to the price of DMC.