1 Key Raw Materials Supply and Demand Analysis
The supply and demand situation of raw material market will seriously affect its price level. If the difference between supply and demand is positive, it means that supply exceeds demand and product prices are under downward pressure; If it is negative, it means that supply exceeds demand, and product prices have a rising momentum.
Aluminum is one of the most important non-ferrous metals, and it is also the most consumed non-ferrous metal. With the economic development of various economies in the world, the demand for aluminum continues to grow, especially in the fields of construction and transportation. Due to the new capacity and the easing of power supply constraints, the annual aluminum production in China in 2022 increased by 4.5% compared with the same period of last year, reaching a record 40.21 million tons. Nevertheless, the prospect of stronger demand and historically low global stocks continues to support the fundamentals of the aluminum integrated market. China has taken significant measures to boost its economy, such as ending the strict COVID-19-induced system, which has raised the prospect of metal demand. Most importantly, the production reduction of major European smelters in 2022, including Alcoa’s San Ciprian smelter and Hydro’s factory in Slovakia, provided a solid foundation for the price.
Table Key Raw Materials Suppliers
|
Raw Material |
Suppliers |
Contact Information |
|
Metal |
ArcelorMittal | Website: www.usa.arcelormittal.com Phone: 1-312-346-0300 Add: 1 South Dearborn Chicago, IL 60603 United States |
|
Outokumpu | Website: www.outokumpu.com Phone: 1-251-829-3655 Add: 1 ThyssenKrupp Drive Calvert, AL 36513 United States | |
|
Display Screen |
Sun International Co., Ltd. Thailand |
Address: 127/17 Rama 3 Road Chongnonsi, Yannawa Bangkok Thailand 10120 Phone: +66 (0)2.295.2568-9 |
|
Interlight Technology |
Address: 2-2, Jln Puteri 7/15, Bandar Puteri, 47100 Puchong, Selangor, Malaysia Phone: +60 3-8071 8893 | |
|
Electronic components |
Siemens AG | Web: www.siemens.com Tel: +49 (89) 3803 5491 Add: Werner-von-Siemens-Street 1 Munich, 80333 Germany |
|
Schneider Electric SE | Web: www.se.com Tel: 33 1 41297000 Add: 35 Rue Joseph Monier Rueil Malmaison, 92500 France | |
|
Glass |
Corning Inc. | Web: www.corning.com Tel: +1 607.974. 9000 Add: One Riverfront Plaza, Corning, NY 14831 USA |
|
SCHOTT | Web: www.schott.com Tel: 1-800-631-5407 Add: Hattenbergstrasse 10 Mainz, 55122 Germany |
2 Price Trend of Key Raw Materials
In the past three years, influenced by the global COVID-19, the prices of bulk commodities have generally risen, and the supply of aluminum, one of the key raw materials of RFID smart cabinets, is in short supply, and the overall price has risen.
First of all, due to COVID-19, many factories stopped production and production was interrupted. When production is gradually restored, there is a shortage of labor, production costs rise and prices rise. Second, COVID-19 affects logistics and transportation. Many countries control domestic traffic and the movement of people, and impose restrictions on imported goods. This has led to different levels of logistics interruption, cargo accumulation and transportation delay. A large number of goods are stranded in the port, the container supply is in short supply, the goods cannot be delivered, and the rising logistics cost drives up the price of raw materials.
However, in 2023, with China’s economic recovery and the relaxation of Covid-19 policy, global demand may increase, and aluminum prices are expected to remain strong.
Figure Price Trend of Aluminum
3 RFID Smart Cabinet Downstream Customers
The major downstream customer company in the RFID Smart Cabinet market are Siloam Hospitals Lippo Village – Karawaci, Eka Hospital BSD, Bangkok Hospital, Orlando Health, Oslo University Hospital, Delta Air Lines, Intel, TSMC, etc.
Table Downstream Buyers
|
Downstream Buyers |
Contact Information |
Address: Jl. Siloam No.6, Bencongan, Kelapa Dua, Tangerang, Banten 15811 Indonesia Phone: +62 21 80646900 | |
Web: www.ekahospital.com Address: Central Business District Lot. IX, Jl. Boulevard BSD Tim., Lengkong Gudang, Kec. Serpong, Kota Tangerang Selatan, Banten 15321 Indonesia Phone: +62 21 25655555 | |
Address: 2 Soi Soonvijai 7, New Petchburi Rd., Huaykwang, Bangkok 10310 Thailand Phone: +662 310 3000 | |
Tel: +1 321 843 7000 Add: 1414 Kuhl Ave, Orlando, FL 32806, United States | |
Web: oslo-universitetssykehus.no Tel: +47 23 07 00 00 Add: Sognsvannsveien 20, 0372 Oslo, Norway | |
|
Delta Air Lines | Web: zt.delta.com Tel: (404) 715-2600 Add: 30320, 1020 Cargo Service Rd, Atlanta, GA 30337, United States |
|
Intel | Web: www.intel.com Tel: +1 408-765-8080 Add: 2200 Mission College Blvd, Santa Clara, CA 95054, United States |
Web: www.tsmc.com Tel: 886-3-5636688 Add: 8, Li-Hsin Rd. 6, Hsinchu Science Park, Hsinchu 300-096, Taiwan |
4 Consumer Behavior Analysis
RFID smart cabinet is an innovative technology, which can provide significant advantages in medical care, commercial aviation and other environments. The adoption of RFID smart cabinets by downstream customers is usually based on their awareness of RFID smart cabinets. If customers think that RFID smart cabinets are useful in improving inventory management, reducing waste and improving safety, they are more likely to adopt RFID smart cabinets. At the same time, due to the attribute of the downstream industry, the customer’s working environment may be relatively stricter and the workload is relatively large. The usability of the product is also one of the key factors that customers will consider, which requires the RFID smart cabinet to be easy to use and integrated into the existing workflow. According to the above concerns of customers, manufacturers can demonstrate the usefulness of technology through case studies, pilot projects and other examples, and do some training and guidance appropriately, which may help to improve the adoption rate.
In addition, because of customers’ industry attributes, they may be worried about the security and privacy of their data when using RFID smart cabinets. In the above promotion and publicity ways, the safety design of RFID smart cabinets can also be highlighted, which is also helpful to improve customer acceptance.
5 Market Drivers
Table Drivers of RFID Smart Cabinet
|
Drivers |
Description |
|
Control of operating costs of hospitals and pharmaceutical companies |
The advantages associated with RFID smart cabinets include data accuracy, real-time tracking, and less inventory waste and equipment loss. These factors have reduced the operating costs of hospitals and pharmaceutical companies. Therefore, hospitals have begun to use RFID smart cabinets to track various items. Medical equipment used in surgical operations and other medical procedures is expensive, so it is necessary to properly maintain and track these high-value hospital inventory. RFID smart cabinets enable hospitals to eliminate costs by avoiding misplacement, avoiding the theft of expensive medical equipment and tracking the use of high-value medicines. By deploying RFID smart cabinets, many companies have controlled operating costs. These factors have promoted the development of the RFID smart cabinet market. |
|
Automated and improved workflow |
The automated supply and workflow management system eliminates the manual processes involved and redundant document processes that are error-prone and time-consuming. These solutions integrate workflows to save time, reduce costs and provide seamless functionality for clinical staff and administrators. Automated and improved workflows can save time and employees can fully focus on patient care. The RFID smart cabinet is equipped with a dashboard to provide alerts when immediate attention is needed during inventory management. The interfaces of these cabinets ensure interoperability with existing systems in hospitals and other facilities. Improved product visibility provides clinicians with the right products at the right time. These factors have also promoted the development of the RFID smart cabinet market. |
