Our team’s deep technology knowledge and thorough assessment of the target market uncovered a significant growth opportunity.
The Challenge
A producer of functional additives was looking to explore a potential new market for one of its core additive technologies.
Confident of ChemQuest’s capabilities from past projects, the client requested assistance with understanding relevant unmet needs in the target market, as well as assessing the market potential, their product’s value proposition in that market, and feasibility for expansion into the space. They also sought guidance on proof-of-concept strategies for the technology’s use and potential benefits in new applications.
Custom, Comprehensive Market and Feasibility Analyses
The team concentrated their efforts on two main focus areas: market analysis and feasibility analysis.
Target Market
Analysis
- Performed quantitative and qualitative assessment of target market’s volume, value, and key dynamics
- Determined current state-of-the-art processing and technologies to uncover challenges and unmet needs
- Studied value chain and provided insights to broaden client’s understanding
Feasibility
Analysis
- Assessed and mapped market opportunities
- Explored options for most effective and relevant proof-of-concept strategy
The Results
ChemQuest was able to identify a significant new market penetration opportunity with a high level of key industry player interest in the additive product’s value proposition. Our team provided the client with a detailed strategy for proof-of-concept tests that would enable the client to demonstrate the product’s process and performance benefits to the new market.