With lower returns on investment and a more competitive market, specialty chemicals companies face unique roadblocks and must find new ways to grow.
Over the last few years, the global specialty chemicals market has experienced inferior profitability rates within a more competitive environment. With the rising standards of living in many developing countries and swift growth of new technologically advanced financial prudence, the center of gravity of the global chemical industry is shifting. Moreover, as traditional companies are facing increasing pressure from local players and rival producers trying to seize a larger share of the global specialty chemicals market, new market entrants across the globe must find new ways to compete and grow. Additionally, specialty companies are dealing with an ever-increasing array of decisions and in many occasions are attempting to apply methods, processes, and tools that were developed in the era of lesser complexity. Furthermore, the inability to cope with the current complexity is resulting in higher costs, more unforeseen consequences, and lost opportunities for specialty chemicals companies.
- The client: A specialty chemicals market player
The client – is an American chemical, biotechnology, and life science company. The company is headquartered in St. Louis, United States and has operations in over 40 countries. The specialty chemicals producer wanted to understand the market opportunity for marine outboard motor fuel additives in five countries. A market size forecast was needed as part of that strategic assessment. Lack of available data on the specialty chemicals product being investigated was the primary challenge. Additionally, incompatibility between the statistics available and a segmentation that would be meaningful to the specialty chemicals producer also created challenges in terms of how to adapt and utilize the available public domain data.
How Can Market Size Forecasting Help Specialty Chemicals Companies?
Market size forecasting is a key component of any strategic marketing planning. Knowledge of the size of the target market allows businesses to fully assess opportunities and accurately plan their approach and investments – wisely. Market size forecasting also helps specialty chemicals companies find new market niches, operate more efficiently, add values to their data, and minimize risks across geographies.
Summary of our market size analysis solution
The market size forecast experts at Infiniti Research compiled information across a wide array of exclusive sources to help the specialty chemicals producer understand the market opportunity for marine outboard motor fuel additives. The experts also followed a comprehensive research method, which delivered valuable insights on technological advancements, geographical target regions, market requirements, and future enhancement possibilities
The Solution Benefits and the Business Impact
With the help of Infiniti’s market size forecasting engagement, the specialty chemicals company gained insights into the statistics available from relevant boating, marina and shipping associations. This allowed the them to cross-check and verify the total number of registered boats and establish base numbers for outboard motors. Additionally, vital assumptions and ratios relating to how additives are used in different types and sizes of the outboard motor, as well as the typical usage of different types and sizes of the boat during a year were derived to help the client understand the market opportunity for marine outboard motor fuel additives in five countries.
Specialty Chemicals Market Future[spacer height=”0px”]
Specialty chemical companies across the globe are facing perilous intersections of their own making. Business sectors will have to subsist with managing the unavoidable commoditization process. Companies that first succeed in identifying and analyzing the key components of their product lines and the nature of the businesses they possess will have a major role in shaping up the global specialty chemicals market.