Chemical Market Analysis
The chemical market is expected to witness positive growth over the coming years. The major factors driving growth include robust growth of construction industry and oil exploration, and production activities. On the other hand, market volatility, rising need to embrace innovation, and sustainability challenges have started coming to the forefront. Owing these roadblocks, chemical firms are under the need to evolve and adapt to the changing market demands. In this scenario, a thorough understanding of the market landscape and industry developments is vital. This is where the real power of leveraging chemical market analysis comes into play.
We helped a chemical company to exceed their revenue expectation and enhance profits by 19%. This success story explains in detail the approach undertaken by the experts at Infiniti Research to help the client make strategic business decisions and yield huge savings.
Business Challenge
The client is a chemical company based out of Europe.
The client wanted to expand their operations to the United States. As the US chemical market was highly volatile, the client realized the need to gather reliable insights into the US chemical market opportunities and challenges to make a sound market expansion plan. They were in need of a partner to support them in their research and information needs. As such, they approached the experts at Infiniti Research to leverage their expertise in offering chemical market analysis.
By leveraging Infiniti’s chemical market analysis, the client wanted to achieve objectives such as:
Rising market volatility – The unexpected variations in raw material costs, exchange rates, and tariffs necessitated companies in the US chemical market to negotiate contracts and adjust prices of products accordingly. Therefore, with Infiniti’s chemical market analysis, the client wanted to keep a constant watch on market changes and adapt accordingly. In addition, with Infiniti’s chemical market analysis, they also wanted to understand the investment required for implementing an ERP system to enhance their operational efficiency.
Increasing quality audits – By-yearly regulatory updates and new compliance requirements necessitated companies in the US chemical market to maintain strict quality management and streamline supply chain activities. Therefore, to equip themselves for quality audits, the client realized the need to keep pace with industry regulations and market requirements.
Digitalization – Digital technologies enabled chemical companies to achieve improved output at lower cost and facilitated accurate inventory planning to prevent stock-outs. The client noted that leading companies in the US chemical market have already started embracing IoT and digital technologies to enhance operational efficiency. Therefore, by conducting the US chemical market analysis, the client wanted to analyze cost-effective technologies and processes leveraged by the top companies in the US chemical market.
Solutions Offered
As a part of the chemical market analysis engagement, our experts followed a five-phased approach that involved:
Chemical market analysis phase #1: Market Research
A chemical market research study to analyze market transformations and industry regulations in the US chemical market.
Chemical market analysis phase #2: Market Opportunity Assessment
A market opportunity analysis to evaluate profitable opportunities and market entry barriers in the US chemical sector.
Chemical market analysis phase #3: Market Scanning
A market scanning and monitoring analysis to identify changes in emerging regulations and governmental policies regarding product quality audits.
Chemical market analysis phase #4: Technology Assessment
A technology assessment study to evaluate cost-effective technologies and processes.
Chemical market analysis phase #5: Competitive Intelligence
A competitive intelligence engagement to evaluate the competitive landscape and analyze business strategies of the top companies in the US chemical market.
Results Obtained
By conducting the US chemical market analysis, the experts at Infiniti Research helped the client to keep a constant watch on market changes and new compliance requirements in the US. The experts also helped the client to identify cost-effective technologies and processes leveraged by the top companies in the US chemical market. In addition, our chemical market analysis engagement helped the client to identify market entry barriers and take proactive approaches to tackle them. The company was able to successfully establish their operations in the US.
The insights obtained from Infiniti’s chemical market research analysis helped the client to equip themselves for audits and clear the quality checks in their initial attempt. Furthermore, by implementing an ERP system, the client was able to streamline processes and drive collaboration and efficiency. Additionally, by constantly monitoring their competitors’ strategies and business processes, they were able to embrace new technologies and processes and make strategic business decisions. Within two years of entering the US market, the client was able to become one among the top 25 chemical companies in the US. Also, they were able to exceed their revenue expectation and enhance profits by 19%.
