Eastern Tech Company Overview

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Eastern Tech Company Overview

Sun Chemical, INX international, and Polymeric are the top three competitors of Eastern Tech Company based on estimated revenues. More details about Eastern Tech and the competitors are detailed below.

Strengths/ Competitive Advantage

  • Eastern Tech Company has a highly experienced “team of chemists and production technicians who have researched, developed, and produced the highest quality ink products for various industries in the United States and Worldwide.”
  • It's a pioneer "of water-based pigmented ink for writing instruments," and the global leader "in the manufacture of inks for gel-ink pens, which are sold in the largest retail chains in the United States and abroad."
  • The company has a streamlined production facility that is capable of producing "500 tons of ink annually (400,000 Liters), giving it "the ability to scale up with the demands of the international market for writing pens and stationary."
  • The Eastern Tech Company has invested "millions in R&D, Production, and Quality Control equipment to further Ink Innovations."
  • Recently, the company partnered with "OEM flatbed printer manufacturers to launch the latest UV and UV-LED curable inkjet ink technologies," making it one of the pioneers of this type of technology.

Weaknesses

  • The company does not pursue e-commerce initiatives (as evidenced by the official website and the official site of its brand company, Firebird Ink). Most recent studies indicate that one of the key industry trends is mass customization, and some companies are riding on this wave by making extensive use of e-commerce to meet consumers’ demands for a fast turnaround."
  • There's no evidence in the public domain that the Eastern Tech Company has conducted a marketing campaign in the past, and the company does not maintain any social media platform where they engage with customers. Because of this, they are not able to target a specific segment of consumers. For example, Facebook allows users to "make online advertising selections based on geographical location, interests, gender, age-range, education level, or job title."

Opportunities

  • There's an opportunity for the Eastern Tech Company to target Millennial. According to a recent study by Future Market Insights, the DTG Printing Industry is projected to grow from $1.76 billion in 2018 to $2.31 billion by 2023, fueled by a "demand from Millennials for more DTG printed, t-shirts, long sleeve t-shirts, ¾ length tees, tank tops, and other items."
  • The use of sublimation inks in the Direct-To-Garment (DTG) printing industry is projected to rise, as the need to "keep up with the fashion industry’s seasonal clothing lines also grow." The Eastern Tech Company must take advantage of this market trend if it would remain relevant in the DTG printing business.
  • Some companies in the Direct-to-Garment Printing Landscape are making extensive use of e-commerce. They are using "web-to-print portals and partnerships, which allow them to aggregate production in a hub-and-spoke operation to meet consumers’ demands for fast turnaround and customization." Here lies an opportunity for the Eastern Tech Company, which has not invested in e-commerce, as evidenced by the official website and the official site of its brand company, Firebird Ink, to pursue such initiatives.

Threats

  • Since 2019 "ushered in a flurry of new developments," from competitors in the ink printing industry, designed to "expand DTG pigment ink printing to synthetic garments," as well as the entrance of new players, there's a serious threat to the Eastern Tech's position in the industry in the medium to long term future.
  • The Eastern Tech Company's products — for example, the inks for gel-ink pens, are sold in "the largest retail chains in the United States and abroad." Therefore, the company is exposed to currency fluctuations, especially given the volatile political climate in several markets across the world.

Partnerships/ Mergers & Acquisitions

  • There's limited information in the public domain on who the company's partners are. However, the Eastern Tech reveals on the official website that it recently "partnered with OEM flatbed printer manufacturers to launch the latest UV and UV-LED curable inkjet ink technologies."
  • The company has not merged with any firm or been acquired. However, it operates a separate brand called Firebird Ink, which is a "Direct To Garment brand of Eastern Tech Company."

Press Scan Helpful Insights

COMPETITORS

Sun Chemical

INX international

Polymeric

  • Headquartered in Kansas City, Polymeric manufactures a "vast array of unique ink and coating solutions for a variety of industrial and commercial applications."
  • Some of the company's specialty ink and coating solutions are: the DerCeram G&T Primer, the Polymeric’s Thixatropic Clear, and the Polymeric’s Thixatropic Clear.
  • The DerCeram G&T Primer is "specially formulated as a wipe-on primer to improve the adhesion of UV digital and screen inks to various substrates."
  • Polymeric’s Thixatropic Clear is "a unique UV ink, which when applied, allows printers to accent and simulate a wet-water droplet look."
  • The Glow-in-the-Dark Green is "a novelty phosphorescent ink. After exposure to normal daylight, the ink will glow-in-the-dark for approximately 15 to 30 minutes."
  • Polymeric generates revenues of about $50 million.

Research Strategy

The Eastern Tech Company maintains a low presence in the public domain compared to competitors in the same industry. It does not run a news page on the official website or manage a social media account and has a low presence in the mainstream; with only a single press article in the public domain — most of the information on the company is available at the official website. Therefore, after searching extensively, the research team could not establish any press article on the company for the last 12 months or any recognition received on the company’s initiatives or members of the executive team within the same period. We did provide helpful insights to this effect, as available.

On the other hand, to identify the top 3 competitors to Eastern Tech Company, we determined them based on annual revenue. We identified similar printing inks companies, like Eastern Tech, and ranked them by revenue to select the top 3. (The company has an estimated revenue of $6.4M and 30 employees). We chose these companies as competitors to Eastern Tech because they provide similar offerings — they manufacture specialty ink and coating solutions.
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Sources