The world’s leading producer of vaping products, Shenzhen-based SMOORE, held a livestream event on Tuesday during which it unveiled progress made recently in the realm of e-cigarette technology. The firm claims that its new “FEELM Air” will represent the thinnest ceramic coil vape pod solution available on the global market, offering benefits to design, flavor and heating functionality.
Spurred on by a growing international awareness of the adverse health effects of traditional tobacco smoking, the vaping industry has been on the rise in recent years, with one study finding that the overall market size in 2020 totaled as much as $34.8 billion. Further expansion is forecast to continue throughout the next decade.
A key feature of SMOORE’s new product unveiled Tuesday is an extremely thin seven-layer film used to evenly heat liquid and produce vapor – the first of its kind, according to the firm.
Amid shifting market trends, SMOORE is attempting to lead an industry transition towards ultra-slim devices, which are increasingly favored by consumers but tend to suffer from less powerful functionality.
The company is based in China’s southern manufacturing hub of Shenzhen, which has ballooned to become a key nexus in global vaping and e-cigarette supply chains. In addition to hosting major international market players, smaller firms specializing in the production and export of cheap vaping devices also abound in the metropolis.
In November 2021, Chinese regulators shifted their approach by formally incorporating e-cigarettes and vaping products into existing legal frameworks governing the tobacco industry, casting a shadow over the future prospects of smaller firms that will find it difficult to meet the stringent new requirements.
In previous comments to Pandaily, an industry insider predicted that the regulatory changes would lead to market concentration, as only those companies able to carry out advanced R&D of product technology would be able to compete. SMOORE, on the other hand, which frequently emphasizes its internal scientific focus on atomization technology, appears well positioned to continue expanding within the new legal environment.
Since its closely watched IPO in Hong Kong last summer, SMOORE has become the world’s most valuable company in the vaping industry, with a current market capitalization of around $28 billion and accounting for 18.9% of the global market.
At the Hong Kong Stock Exchange on Wednesday, shares in SMOORE had fallen 1.50% to a price of 36.05 HKD ($4.63) apiece at the time of publication, on the first full day of trading following the company’s new technology launch.