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Tantech Holdings Ltd  (TANH)
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Tantech Holdings Ltd's

Competitiveness


 

TANH Sales vs. its Competitors Q4 2022



Comparing the current results to its competitors, Tantech Holdings Ltd reported Revenue decrease in the 4 quarter 2022 year on year by -3.21 %, despite the revenue increase by the most of its competitors of 1.27 %, recorded in the same quarter.

List of TANH Competitors

With a net margin of 4.83 % Tantech Holdings Ltd achieved higher profitability than its competitors.

More on TANH Profitability Comparisons



Revenue Growth Comparisons




Net Income Comparison


Tantech Holdings Ltd achieved net profit of $2.59 millions compared to a net loss of $-10.69 millions recorded in the same quarter a year ago.

<<  TANH Stock Performance Comparisons


Tantech Holdings Ltd's Comment on Competitors and Industry Peers


The primary market for our Charcoal Doctor line of products is household hygiene use. Our air purification, deodorizing, and other health promoting products such as our charcoal pillow, cater to a niche but growing market of health-conscious customers. Customers in this sector have a particular affinity to brands. Notwithstanding this loyalty, product-switching costs are low, so manufacturers must compete on price.

We conducted a marketing survey in Guangzhou in October 2013 for our charcoal bag products. According to the survey, we found that a decrease in package weight of 10% or an increase in price of 5% resulted in a loss of sales of less than 1%, showing that the market could absorb minor changes. By contrast, when the price increase reached 10% or the package weight decrease reached 15%, we saw that 30% of respondents were willing to choose alternate brands or forego a purchase. We further found that for cleaning and purification products, 85% of respondents cared about design attractiveness and approximately 65% made purchasing decisions based on attractiveness, causing us to conclude that demand for our products is more heavily influenced by such products than by minor (but not major) economic fluctuations.

Because the household hygiene sector has enjoyed relatively strong growth in the last few years as a result of increases in disposable urban income and an increased awareness of healthy lifestyle products, we have focused on growing our market share in this industry. In order to do this, compete by pricing our products aggressively, often at a discount of 10 – 20% below our competitors. In addition, we pride ourselves on providing a high quality product, so that our customers believe they have received value for the price they pay.

With regards to household carbonized bamboo products, the Charcoal Doctor brand is one of the largest and most famous. Our Charcoal Doctor brand name has been recognized as a “China Well-known Brand” by the China Brand Strategy Management Association, and our products have been recognized as a “Zhejiang Famous Forest Product” by the Zhejiang Famous Forest Product Affirmation Committee and have been awarded “The Fifth China Yiwu International Forestry Product Expo Gold Award” by the Fifth China Yiwu International Forestry Product Expo Committee. Moreover, the 2014 – 2018 China Bamboo Charcoal Products Market Research and Corporate Strategy Analysis Report notes high brand recognition for Charcoal Doctor products in China.

The industry is geographically concentrated in the South East of China in the provinces of Anhui, Zhejiang and Fujian where bamboo is more prominent, the bamboo charcoal industry is also fragmented since it is subject to relatively low barriers of entry; low initial capital expenditure, low technical requirements (excluding high end EDLC carbon compounds), highly homogenous products and few substitutes.

We face competition from a number of companies operating in the vicinity. Many of these companies have similar profiles in terms of size, number of employees and product ranges. One of the largest competitors is Zhejiang Maitanweng Ecology Development Co. Ltd., a local company also from Zhejiang Province.

Zhejiang Maitanweng has the largest franchise in the industry with a presence in over 100 cities in China. Like our Company, Zhejiang Maitanweng has an extensive product portfolio of 200 household, automotive and health related bamboo charcoal-based products.

Jie Jie Gao Charcoal is another company with a similar product portfolio. Also located in the Lishui vicinity, it also holds many awards, and its products are stocked by Walmart, Hualian, Century Mart and other supermarkets like our products are. Jie Jie Gao is also one of the founding members of INBAR — International Network for Bamboo and Rattan.



  

Overall company Market Share Q4 2022

Overall company, revenue fell by -3.21 % and company lost market share, to approximately 3.02 %.




<<  More on TANH Market Share.
 
*Market share is calculated based on total revenue.





Who are Tantech Holdings Ltd's Competitors?




The Clorox Company
Share Performance



-5.21%
Over The Past 5 Days



The Clorox Company
Profile

The Clorox Company's business model revolves around producing and marketing a wide range of consumer and professional products for cleaning, hygiene, and personal care. They focus on delivering high-quality and innovative solutions to meet the needs of their customers.

More about The Clorox Company's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 18,549.687 mill. $ 7,310.000 mill. $ 93.000 mill.



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