The decline in auto sales does not affect the development of the license plate film industry, and the market space is still broad. According to data from the China Association of Automobile Manufacturers, in 2019, the production and sales of automobiles were 25.72 million and 25.77 million, respectively, down 7.5% and 8.2% year-on-year. Despite this, China's auto market continues to rank first in the world in terms of production and sales. In addition, according to relevant data, the cumulative transaction volume of used cars nationwide in 2019 was 14.92 million units, a year-on-year increase of 8.0%. Therefore, the number of new license plates added and replaced in 2019 exceeded 40 million pairs. If all are calculated according to the size of the front and rear license plates of passenger cars 440mm × 140mm (commercial vehicle front license plate size is 440mm × 140mm, rear license plate size is 440mm × 220mm), under the premise of considering the actual cutting loss, a square meter The reflective film can be cut into 12 440mm × 140mm license plates and 10 440mm × 220mm license plates. Therefore, if the sales volume ratio of passenger cars and commercial vehicles is 6: 1, the demand for domestic automobile license plate film market in 2019 will be 6.87 million square meters. In addition, due to various factors such as environmental protection, license plate centers of major domestic provinces require vehicle license plate companies to switch to the supply of semi-finished license plate products. The value of semi-finished products doubles compared with license plate films, and they can gain more profitable space. If the national vehicle management system purchases license plate semi-finished products, according to the current license plate semi-finished product price of 18-20 yuan / pair (both front and rear), the domestic market is close to 700-800 million yuan.
As the penetration rate of new energy vehicles increases, the market space for license plate membranes will further expand. At present, the domestic new energy vehicle license plates are different from the traditional white license plates on blue background, and most of them have black lettering on the green background with gradient color effect. The manufacturing process of new energy vehicle license plates is hot stamping technology, which is also the most widely used license plate production process technology in the world. It is very different from traditional ink technology, and has the advantages of environmental protection technology and fast license plate production time. Due to the update of the production process, the size of the reflective film required by the hot stamping technology to make car license plates is 1.1 times the original ink technology demand, and the selling price is 40-50% higher than the traditional ink technology license plate film. The gross profit margin of the hot stamping technology license plate is as high as At 70%, the profit of a single set of license plate film doubled. In 2019, domestic sales of new energy vehicles was 1.2 million, which accounted for only 4.7% of total auto sales in 2019. According to the "New Energy Vehicle Industry Development Plan (2021-2035) (Draft for Comment)" of the Ministry of Industry and Information Technology, in 2025, the competitiveness of the new energy vehicle market has improved significantly, major breakthroughs have been made in key technologies, and the proportion of new energy vehicle sales Reaching 25% (estimated to be about 7 million units), it can be seen that there is huge room for improvement in new energy vehicles in the future. March 31, 2020 The executive meeting of the State Council determined that in order to promote automobile consumption, policy support and financial incentives will be provided for the purchase of new energy vehicles, the replacement of used trucks for new vehicles, and the sale of used vehicles. In recent years, China domestic automobile sales have temporarily declined, but with the introduction of this policy and the subsequent follow-up stimulus policies of the country, domestic automobile sales are expected to rebound. At the same time, with the recovery of total auto sales, the proportion of new energy vehicle sales will gradually increase, which will further expand the market size of the domestic automotive reflective film market.
License plate printing technology is expected to innovate nationwide
It is reported that the Ministry of Public Security and the Ministry of Communications of China are expected to jointly promote a policy, hoping to promote hot stamping technology to all blue passenger car number plate production, and replace all existing license plates with hot stamping technology within 5 years. According to China's current 250 million car ownership, if the policy can be officially implemented and promoted in all provinces of the country within 5 years, according to the license plate price, the market capacity will increase by about 1 billion yuan per year, which will greatly promote related companies. Performance growth.
Domestic license plate membrane products enter the developing country market
To broaden the international market, some domestic companies also export license plate film products to foreign countries, especially in developing countries. ZJDM optical license plate film products have occupied a large market share in Iran, and overseas branches have been established in countries such as India. In 2019, the relevant income of ZJDM optical license plate film products for foreign trade exports to the Middle East has reached 60-70 million yuan. At the same time, there are still many foreign countries where the license plate reflection effect is not good or does not use reflection (such as Japan, South Korea, Thailand and many countries in Africa). With the increase in safety awareness, there is still a large expansion of license plate film and license plate semi-finished products in the international market space.
In addition to the automotive license plate film market, there is a huge increase in the mandatory registration of electric bicycles
In recent years, electric bicycle license plate management policies have been issued throughout the country. Although the current management of electric bicycles is more decentralized, the policy direction of electric bicycles requiring licenses is consistent. On May 15, 2018, the Ministry of Industry and Information Technology released the latest "E-Bike Safety Technical Specification" (GB 17761-2018), and the new standard was officially enforced on April 15, 2019. In response to the new national standards, various countries across the country have proposed corresponding transition policies for the registration of old electric bicycles that do not comply with the new national standard. Generally, non-national standard electric bicycles are required to use temporary number plates. Temporary number plate vehicles will be banned from the road after the transition period. . In the future, with the advancement of new national standards, license plate management across the country will gradually move towards standardization and unification, which will gradually expand the market for license plates for electric bicycles.