eternal materials co., ltd
TRANSCRIPT
Eternal Materials Co. LTD.
Eternal Materials Co., LTD.
The Overview of UV Curable Industry
2017/08/29
Mark Chen, Vice President Rooted in Taiwan
Based in Asia
Embrace the World
Outline
2
• IntroductionCompany Profile ‧‧‧‧ History ‧‧‧‧ Core Technology ‧‧‧‧ Main Product
Production Sites ‧‧‧‧ Global Revenue ‧‧‧‧ Financial Feature ‧‧‧‧ Index Significance
• UV Curable Technology
Features ‧‧‧‧ Related Industries ‧‧‧‧ Applications ‧‧‧‧ Global Market
Global Demand ‧‧‧‧ Eternal Capacity ‧‧‧‧ Sales Ratio ‧‧‧‧ Future Development
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� Business: Electronic and Chemical Materials
� Founding: 1964
� Number of Production Sites: 25
� Number of Employees: 5088
� Capital: NTD 11.6 billion
� Revenue: NTD 38.7 billion
� Headcounts of Researchers：600 (R&D expenditures accounted for 3.6% of sales revenue)
Introduction - Company Profile
4
1964 1985 1989 2000 2004 2008 2016+
Introduction - History
5
Core Technology
Precision Processing
Chemical Formulation
FunctionalResin Synthesis
Safe
ty
Enviro
n-ment
Quality
Introduction – Core Technology
6
Alkyd Resins ‧‧‧‧ Acrylic Resins ‧‧‧‧ Saturated
Polyester Resins ‧‧‧‧ Oil-free Polyester
Resins ‧‧‧‧ Phenolic Resins ‧‧‧‧ Amino Resins
Adhesive ‧‧‧‧ Polyester Polyols Resins for
PU ‧‧‧‧ Resins for Paper Glaze/Paper
Overprinting ‧‧‧‧ Epoxy Molding
Compound Unsaturated Polyester Resins
‧‧‧‧ Vinylester Resin‧‧‧‧ General low Profile
Agent‧‧‧‧ Polyester Polyol Photovoltaic
Materials
Paper-phenolic Copper Clad
Laminate ‧‧‧‧ Dry Film Photoresist
Material ‧‧‧‧ Photosensitive Polyimide ‧‧‧‧UV INK ‧‧‧‧ Dry Film Solder Mask ‧‧‧‧Reflection Film ‧‧‧‧ Diffusion Film ‧‧‧‧Prism
Electronic Chemical Materials 29%
Electronic Chemical Materials 29%
Monomers ‧‧‧‧ Oligomers ‧‧‧‧ Specialty
Coatings ‧‧‧‧ Silicone Resins ‧‧‧‧ UV Curable
3D Printing Material ‧‧‧‧ LED Encapsulant
Materials ‧‧‧‧ EMC
Specialty Chemical 17%Specialty Chemical 17%
Thermal Conductive Grease ‧‧‧‧Thermal Conductive Potting
Encapsulant ‧‧‧‧ Hydrophilic Film
Others 1%Others 1%
Resin Materials 53%Resin Materials 53%
Introduction – Main Product
Consolidated Revenue
NTD 38.7 billion
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Global Production Sites :25•Taiwan ： 3•China ： 17•Thailand ： 1•USA ： 1•Japan ： 2•Malaysia ： 1
• Chengdu• Chongqing
SouthwestChina (2)
North China (1)
• Tianjin
Thailand (1)
• Bangkok
USA (1)
• Virginia
NortheastChina (1)
• Yingkou
East China (8)
• Kunshan (3)• Changshu(2) • Suzhou (2) • Shanghai Malaysia (1)
• Bahru
SouthChina (5)
• Zhuhai (2)• Guangzhou (3)
• Ogaki Plant• Kodama Plant
Japan(2)
• Lu-Chu Plant• Ping-Nan Plant
• Ta-Fa Plant
Taiwan (3)
Introduction – Production Sites
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(Unit：：：：NTD billion)
0
5
10
15
20
25
30
35
40
45
50
2012 2013 2014 2015 2016
Others
Taiwan
China
Introduction – Global Revenue
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Introduction – Financial Feature
Subject / Year 2014 2015 2016 2017H1
Net Sales 40,343 38,487 38,680 19,057
Gross Profit 7,780 8,747 8,582 3,410
Operating Expense 4,950 5,349 5,453 2,685
Operating Income 2,829 3,397 3,129 726
Net income 2,307 2,872 2,606 759
EPS 2.26 2.81 2.38 0.68
Unit：NTD Million
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Introduction – Index Significance
1964 Established in Kaohsiung, Taiwan with capital of NTD 800,000
1988 Joint venture with DSM Resins BV and DSM Resins (Far East) Co., Ltd. established
1994 Company listed on the Taiwan Stock Exchange on March 31
1995 1st overseas plant established in China ,“Eternal Chemical (China) Co., Ltd.”
1996 In order to develop the Japanese market, “Eternal Chemical (Japan) Co., Ltd.” was established in Tokyo
1998 In order to expand R&D and technical service into China market, “Eternal Technologies (Shanghai) Co., Ltd.”was established
1999 “Eternal Technology Corporation (ETC)” established
2003 Set up Industrial Technology Innovation Center approved by Ministry of Economic Affairs
2008 Awarded "Long-Standing Enterprise for 40-year upward " by Ministry of Economic Affairs, R.O.C.
2009 Awarded “National Standardization Award” by Ministry of Economic Affairs, R.O.C.
2010 Awarded Outstanding Enterprise Innovation Award by Taiwan Nanotechnology
2011 “Eternal (China) Investment Co., Ltd.” established
2013 Awarded “Taiwan Mittelstand Award” by Ministry of Economic Affairs, R.O.C.
2015 Awarded Talent Quality Management System(TTQS) enterprise version Gold Medal by Ministry of Labor, R.O.C.
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UV Curable Technology – Feature
Green Performance
Efficiency Economical
UV Curable
Materials
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UV Monomer
UV Oligomer
Photoinitiator
Additives
Coating
Ink
Adhesive
…Others…Others
Photoresist
Material
Glycol
Epoxy Resin
Isocyanate
…Others
(Meth)Acrylic Acid
UV Curable
Materials
UV Curable
ApplicationPetrochem
UV Curable Technology – Related Industries
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Printing Decorating Film
UV Curable Technology – Ink
Printing /Packaging
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Cosmetic /Appliance
Cosmetic Appliance
UV Curable Technology – Coating
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Flooring Furniture
Flooring /Furniture
UV Curable Technology – Coating
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Interior Carlamp
UV Curable Technology – Coating
Automotive
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PCB / LCD
Optical FilmDry Film Photoresist Material
UV Curable Technology – Electronics
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CD/DVDTouch Panel
UV Curable Technology – Electronics
Touch Panel /Disk
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Lens3D Printing
UV Curable Technology – Others
3D Printing /Lens
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0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
500,000
2015 2016 2017 2018 2019
MT
Taiwan
ASEAN
Northeast
Asia
China
Europe
America
2017 Market demand: 430,000 Mt (100,000Mt in-house demand excluded)
--North America: 120,000Mt & Europe: 100,000 Mt (+4~7%), about 52% globally
--China: 100,000 Mt (+7%), 23% globally
--ASEAN: 30,000 Mt (+10%)
*Source: Radiation Curing Summit & Market Information
UV Curable Technology – Global Market
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
MT2017
2016: 480,000 Mt2017: 500,000 Mt
1. 2016 global supply is about 480,000 Mt
Demand is about 410,000 Mt, Operating rate 85%
2. 2017 forecasted global supply is about 500,000 Mt
Demand is about 430,000 Mt, Operating rate 86%
3. Others: About 70,000 Mt from 16 suppliers
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UV Curable Technology – Global Supply
Zhuhai Luchu, Taiwan Suzhou
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UV Curable Technology – Capacity of Eternal
Guangzhou Shanghai Luchu, Taiwan
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UV Curable Technology – Capacity of Eternal
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45,422 45,030 45,306
57,491 57,956
-
10,000
20,000
30,000
40,000
50,000
60,000
70,000
2013 2014 2015 2016 2017 (forecast)
Quantity
(Mt)
UV Curable Technology – Eternal Sales
25
Market ShareSales Area
UV Curable Technology – Eternal Market Share
26
� Improving & OptimizingTo increase 10,000Mt capacity
in Q4 2017
� Exporting Expanding
Latin America
South Asia
Nordic
� Novel Market & Application Development
LED Curable
EB Curable
3D Printing
� Green & High Value ProductsWaterborne UV Materials
UV Hot Melt PSA
Electronics Adhesive
UV Curable Technology – Future Development
