Chemical Market Outlook
As the chemical industry contributes to every manufactured product in one way or the other, the industry is poised to witness positive growth. Despite the positive outlook, the companies in the chemical industry still encounter several severe challenges. Some of them include the volatility of raw material cost, the increasing number of recalls and quality audits, and the competition from new market entrants. In order to succeed, chemical companies will need to address these challenges and harness untapped market potential. This is where companies realize the importance of leveraging chemical market intelligence solution.
The client is a chemical company based out of San Francisco. The client wanted to understand the prevailing market dynamics in the European chemical sector to devise an informed expansion strategy. Also, the client wanted to gain detailed market insights, identify the best route-to-market, and analyze the competitive landscape. To do so, the client approached the experts at Infiniti Research to leverage their expertise in offering chemical market intelligence solution.
With Infiniti’s chemical market intelligence solution, the client also wanted to:
Adapt to unexpected market changes
The increasing volatility in raw material cost, exchange rates, and tariffs created a dynamic environment in the European chemical market. With the aid of Infiniti’s chemical market intelligence engagement, the client wanted to understand the demand and sales potential for their chemical products in the Europe. Also, they wanted to stay abreast with all market changes and adapt to all the unexpected transformations.
Incorporate new technological innovations
The client noted that various technologies such as IoT and Industry 4.0 are highly transforming the operations and processes of chemical companies in Europe. With Infiniti’s chemical market intelligence, they needed to identify technological innovations and trends in the European chemical market. In addition, with Infiniti’s chemical market intelligence, they also wanted to streamline their operations to reduce overhead expenses.
As a part of the chemical market intelligence engagement, the experts at Infiniti Research conducted a market opportunity assessment. This phase of the chemical market intelligence engagement helped the client to evaluate the prevailing market dynamics of the European chemical industry, European chemical market size, and chemical market growth rate. Also, the client was able to evaluate the potential demand for chemical products in the Europe.
The chemical market segmentation approach conducted as a part of the chemical market intelligence engagement helped the client to segment their target customer groups and devise personalized strategies to attract them.
Also, the trend analysis engagement conducted as a part of the chemical market intelligence engagement helped the client to identify chemical market trends and latest innovations. In addition, with Infiniti’s chemical market intelligence engagement, the client was able to understand exchange rates and tariffs and efficiently forecast the average sales potential.
Infiniti’s chemical market intelligence engagement supported the client in devising an informed expansion plan. Infiniti’s chemical market intelligence solution helped the company to withstand unexpected fluctuation in the market, enhance inventory planning, and increase reliability across operations. Also, by streamlining their business processes, the client was able to enhance their ROI by 31%.