I believe that through this Spring Festival, even many unfamiliar people will get to know a company called 3M, which originated from the N95 masks used in this epidemic. Now when talking about masks, the first brand you may think of is 3M.
In fact, masks are only an extremely small part of 3M’s vast empire, which covers industry, chemicals, electronics, electrical, communications, transportation, automobiles, aviation, Medical, security, construction, cultural, educational and office, commercial and household consumer goods. It is no exaggeration to say that 50% of the world’s people are directly or indirectly exposed to 3M products every day. Do not believe? Look down.
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This Spring Festival, the mask market, which has been sluggish due to the reduction of smog, is heating up again. On January 20, 2020 alone, people bought masks worth 76,091,712 yuan, which is equivalent to nearly half of the total sales of masks in 2019.
The absolute winner is 3M. For ordinary people, 3M’s N95 masks are like a magic needle in the sea. You are right to buy them!
From SARS, haze to the current epidemic, 3M has been the biggest winner in the Chinese mask market, rising with the deepening of public health awareness . According to statistics, 3M alone occupies 90% of the market share of China’s mask market!
The field of masks is somewhat different. The huge terminal market is monopolized by foreign brands, and so far, consumers’ understanding of the classification and functions of masks are based on big brands like 3M. 3M is reaping the benefits At the same time, it also completes the cognitive consumption education of customers and consumers, which can be described as “double fame and fortune”.
In 2003, due to the SARS epidemic, 3M entered the civilian consumption field from the industrial field for the first time. Because during the SARS news broadcast, medical staff wore 3M protective equipment, and the brand’s influence was also deeply rooted in people’s hearts.
Don’t think that a mask is just a piece of cloth, but it actually has a lot of mystery. Professional masks have very high requirements in terms of material fit, filtration efficiency, impedance and mold precision. If there is a slight difference, this final safety bottom line will be in vain.
So after the brand awareness is established, it is not only costly but also extremely difficult for consumers to change their existing consumption habits and replace them with new products. In other words, once consumers form a consumption awareness It is difficult to switch to other brands after knowing this.
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In 2013, when PM2.5 testing began, 3M masks sold more than $100 million. In response to public demand, 3M also adjusted its retail masks to the consumer goods division and turned them into fast-moving consumer goods, and launched purifiers and other products in China.
The relevant person in charge of 3M China Company once told the media that 3M masks use 3M’s proprietary high-efficiency electrostatic filter cotton technology. Compared with traditional filter materials, it can be used without increasing breathing resistance. Under the premise, the efficiency of filtering particulate matter can be improved.
Behind the strength of 3M mask market, it is also inseparable from its parent company, which is a giant in scientific research. As a Fortune 500 company and No. 1 in the field of industrial products, 3M has obtained more than 100,000 patents and more than 6,000 categories since its establishment in 1902. It develops an average of three new products every two days!
In Forbes’ ranking of global innovation companies, 3M ranks third, second only to Apple and Google, and beating Tesla.
It is so innovative to follow the trend, but 3M is actually a century-old brand.
In 1902, it was the end of the gold rush in the United States. Five young people from Minnesota, including railroad workers, butchers, and even surgeries, all took a fancy to the rich iron ore in the area, so they decided to invest in a mining company in partnership. The plan was to mine the rich corundum ore in the area and use it to make grinding wheels.
The company was named Minnesota Mining and Manufacturing Co. Since the initials were all M, it was shortened to 3M Company.
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But at first, the company did not operate well, and mining almost went bankrupt.
In 1907, a man named William McKnight joined 3M Company. Under his leadership, 3M not only established its first laboratory in 1914, but also launched its first exclusive product – abrasive sandpaper in the same year. A few years later, it was upgraded to wet and dry sandpaper, becoming 3M Company The first hit product in history, it has become famous ever since.
The turning point for 3M was in 1925. A 3M employee named Richard Drew saw that car repairmen were troubled by the tape covering the spray paint, so he worked on it alone and invented a Isolation tape. Later, based on this, he invented a world-famous product – “cellophane + adhesive” scotch tape.
In addition, the reflective film on the first highway sign, the first audio tape, and the sticky notes and traceless notes that people can’t live without Hooks and scouring pads were actually pioneered by 3M.
If Hong Kong people leave�. The electronics and energy sectors are also growing rapidly. Due to the increased demand for downstream electronic products, revenue from display materials and systems has increased. The company aims to reduce operating costs and current liabilities by a total of US$1.2 billion by 2020. To this end, the company is focusing on three aspects: supply chain efficiency, internal and external operational control and customer service. The company disclosed in its 2017 annual report that 3M aims to reduce its operating cost rate from 24% (2017 data) to 20% in 2020, and the European division has already reduced it to 16% (2017 data).
Company’s scientific research situation
Company development prospects and plans
Global automobile production The scale of the industry is steadily expanding, and rising demand drives 3M’s business. Statistics from Statista show that the global automobile production industry is in a stable development period, with revenue reaching US$1.39 trillion in 2016, an increase of 3.7% compared with the same period in 2015. Statista expects the entire industry to achieve a compound growth rate of 4% from 2018 to 2021. 3M’s automated production enterprise customers mainly involve the OEM industry and production-end downstream industries. In the context of the development of downstream industries, the company is expected to achieve a compound growth rate of 4% in its industrial business from 2018 to 2020.
Global renewable energy has broad prospects. According to market research company MarketLine, the renewable energy market reached US$694.7 billion in 2016 and is expected to achieve a compound annual growth rate of 8% from 2017 to 2020, reaching US$957 billion in 2020. 3M has extensive experience in the renewable energy industry with businesses in coatings, films, tape and reel and optical technologies. The company can provide modular solutions in wind power, solar energy, and infrastructure construction to achieve energy conservation, emission reduction, and cost control for energy companies and related technology enterprises.
The company actively implements merger strategies to consolidate existing businesses. In recent years, the company has continued to acquire high-quality target companies. In 2016, the company acquired pharmaceutical software company Semifinder, which provides IT solutions for pharmaceutical services. In 2015, the company acquired Ivera Medical, a medical device manufacturing company. In the same year, the company acquired Polypore Separation Media Company for US$1 billion with the purpose of enhancing the company’s scientific research capabilities in industrial filtration and medical filtration. In addition, the company also completed the acquisition of a data analysis company and a medical information company. These acquisitions helped 3M build a more comprehensive medical business. In 2014, the company acquired the Japanese company Sumitomo, a joint venture subsidiary of 3M, and named it 3M. The company disclosed in its 2017 annual report that its acquisition strategy after 2018 will continue to expand product lines in existing areas or improve business performance in regional markets.
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