While multinational lubricant companies have accelerated their deployment of the Chinese market, China’s domestic lubricant companies have also accelerated their pace in the global market. There are various indications that with the increasing strength of China's lubricants companies, this “you come and go†market game will become the norm, and Chinese companies will go to the international market to establish an international brand, and in the long term will enhance the Chinese companies’ Competitiveness has a positive effect.
Sinopec Lubricants recently held the first global distributors conference in Beijing, showing plans to enter the international market for more than 100 partners from more than 30 countries and regions around the world. This shows that Sinopec's international strategy for lubricants will enter a new phase. . It is reported that Sinopec's Great Wall Lubricant (using SINOPEC as a brand in overseas markets) globalization plan consists of the framework of the American, European, and Southeast Asian markets. The plan, known as the "Golden Triangle", will be implemented through a "three-step" strategy: First, focus on the development of the Asia-Pacific market; Second, the realization of overseas factories; Third, gradually establish a global marketing service network.
Sinopec's lubricating oil side reflects that China's lubricating oil companies are stepping into the international market. In recent years, after fierce market competition, the Chinese lubricants market has formed a three-part pattern of multinational brands, China National Petroleum Corporation and Sinopec's lubricant brands, and other local lubricants manufacturers. Among them, the lubricants of China National Petroleum Corporation and Sinopec Corp. The increasing strength has become the backbone of domestic lubricants. For example, Great Wall Lubricants is one of the few brands in the world that can be used as aerospace lubricants. However, from a global perspective, there is still a large gap between China's branded lubricants and multinational companies. Experts pointed out that a notable feature of petroleum and petrochemical products lies in globalization. It is indispensable for Chinese oil and petrochemical companies to become international companies with strong international competitiveness and to establish internationally-renowned brands. In this context, China's domestic lubricant companies have sufficient incentive to accelerate the development of the international market.
In addition, some experts stated that it is a widely accepted view that among the petrochemical businesses of multinational energy companies, lubricant oil is the most brand-name petrochemical product, which can also explain the fact that Sinopec has implemented the strategy of an internationalized market in recent years and attached great importance to lubricants. The reason for the global layout. Zhang Jianhua, senior vice president of Sinopec, stated at the distributor conference that the development of its overseas market will build brand foundation and market experience for overseas development of Sinopec's other petrochemical products and gas stations and other downstream businesses.
From the data point of view, Great Wall Lubricants began to seek overseas layout from 2004. In June 2007, its product was officially launched in Singapore, marking the beginning of brand output and technical output. At present, Great Wall Lubricants has penetrated the business into more than 40 countries and regions around the world, and its outlets have gradually advanced from Asia to Europe and the United States.
Some experts pointed out that in the international market, Western multinational companies have been operating for many years and have advantages in brand awareness, marketing, and culture. China's lubricant companies are newcomers, so the internationalization must be focused on the long-term. Solidly advance and make full preparations. In addition, according to a report released by internationally renowned consulting firm Klein, the global lubricant market has matured, but the opportunities are still in China and India. By 2020, China will become the world's largest lubricant market. Therefore, Chinese lubricant companies should also give full play to their local advantages and continue to "score" in the Chinese market, especially high-end products.
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