全球四大化學公司的競爭策略及財務成效比較

Abstract

化學工業產品例如油漆，塑膠，建材，輪胎，和纖維等的應用使得我們有更現代化的社會及更優裕的生活水準。多數的化學工業界佼佼者，座落於已開發國家中，只有很少數的化學工業公司座落於開發國家中。

化學工業的成長大部分取決於景氣循環的好壞，售價也決定於產能的利用率及原料的價格。過去幾年來的化學工業成長率很慢且其競爭性也愈來愈厲害，因此化學工業公司藉著組織重整，資產適量化，提高產能，及國際化來達到競爭水平。

本文討論全球四大化學工業公司，含歐洲的BASF，美國的DuPont及Dow Chemical，亞太地區的台塑集團，他們的財務成效，以及各公司所採用的競爭策略如何影響他們的業務成效。在此四家公司中，所生產的產品若是屬於大眾化產品的公司，其獲利率較生產特殊用途產品的公司低。因此，配對( Pair-Wised )分析法被用來解析特殊產品公司及大眾化產品公司的競爭策略及其發展趨勢。我們也使用相互影響的策略競爭( Competing Under Strategic Interdependence )方法來說明當一家公司計畫在市場上執行某種商業活動時，其相對應競爭公司的反應程度的大小。

台塑集團是台灣以及亞太地區的一家績優化學工業公司，尤其在1999年完成垂直整合的機制後，使得過去這些年來有很好的成長。除了化學工業產品外，台塑集團也朝多角化方向經營，包含電子材料，生化科技，以及醫療業務。他們的成長腳步及新事業開發有別於其他全球化學工業公司。本文也建議，台塑集團以其他全球性化學工業公司的策略思維作為參考，進而改善其公司的運作方向，朝著永續發展前進。

Chemical products such as paint, plastics, constructions, tires, fibers etc. have modernized our society and improved our living standard. Most of the giants in this chemical industry are located in the developed regions, while a few of them are situated in the developing regions.

The growth of this industry depends very much on the economic climate, and the prices of the products are largely driven by capacity utilization and feedstock costs. This industry has been growing at a very slow pace in the past few years, and the competition is getting rigorous. All the chemical companies are therefore trying to be more competitive through restructuring organization, optimizing assets, increasing productivity, and being globalization.

This paper discusses the financial performances of the four chemical companies, BASF in Europe, DuPont and Dow Chemical in the United States, and Formosa Plastics Group in Asia, and how their competitive strategies affect their financial performances.

It is also found that companies driving toward specialties have a higher margin than those of commodities. Pair-Wised analyses are conducted both for specialties and commodities. The methodology of competing under strategic interdependence is also applied to understand the possible move or reaction of one company if another company plans their competitive campaigns in the marketplace.

Formosa plastics Group, one of the leading chemical companies in Taiwan and Asia has achieved strong growth in the past few years when its vertical integration of oil refinery and naphtha cracking were completed in 1999. Formosa Plastics Group has also diversified in other business fields, including electronic materials, biotechnology, and medical business. Their growth pace and new developments are somewhat different form other global chemical companies. A suggestion is proposed to Formosa Plastics Group for its future operation to be constantly profitable and sustainable.