Planning To Be Around Next Year?1 Jul, 2014 By: David Gibbons
To encourage attendance at the first RT Imaging Summit in North America, many people in Canada and the USA were called: current Recycling Times Magazine subscribers, attendees from the last World Expo in Las Vegas, imaging component suppliers, cartridge remanufacturers and distributors.
Yes, we had a good turn out at the two-day Summit in Las Vegas at the end of May. Feedback about the content, speakers, venue, and “Open Mike” format continues to be very encouraging. As a result, we will certainly plan a larger event with expanded exhibitor displays in 2015.
However, I was shocked by some of the feedback from those we called! About 25% of the cartridge remanufacturers called doubted whether they would still be in business next year. We certainly felt their pain!
By the Numbers
Ten years ago, there were more than 7,000 cartridge remanufacturers in North America alone, and new businesses were opening every week. Today, it’s estimated there are only about 1,000 left.
Yet, despite many acquisitions, mergers, and closures, the aftermarket still has maintained its 25% share of the monochrome market. And the share of color has grown to 8%. However, changes in the way consumers print, the advent of mobile devices, and intense legal battles over intellectual property rights have had a combined culling effect, particularly on small to medium remanufacturers. There are little to no new businesses starting, and many others have closed shop. Chances are another 200 may join them in 2015. STOP! That thinking is wrong!
While many speakers and attendees at the RT Imaging Summit identified the various negatives, they were also positive about the opportunities that exist: one company reported investing $100 million in expanded operations; Cartridge World’s dynamic CEO, Rod Young, said he was looking for existing as well as new remanufacturers to join CW’s growing brand opportunities; those developing printer chip technologies continue to invest solidly in the future; the quality issues over color remanufacturing have been resolved with new sources of chemical color toner entering the market; the color segment is poised to grow from its current 8% market share to 25%; finally, the global print market continues to generate 2.9 trillion pages every year.
You may not have attended the RT Imaging Summit in Las Vegas this year. Yet all those who did, will be around next year…and the next. Join them and start planning—not just to survive, but to thrive!
David Gibbons is Director, Publisher & Producer for the Recycling Times Media Corporation, based in China. Recycling Times magazine is in English, Spanish and Chinese monthly, in addition, their trade show RemaxAsia in China, and launched the RT Imaging Summit in the USA, in May. Visit: http://www.irecyclingtimes.com for info.