How we helped validate market interest and application needs for new bio‑molecules
- Case Study - Insight Solutions
- Multiple Applications
The Challenge
To explore the potential and the best applications for several bio-based molecules in the industrial chemical segments
This case study features a global specialty materials and ingredients supplier who developed a large range of bio-sourced monomers as potential building blocks for new polymers, co-polymers and additives for the adhesives, coatings, and plastics applications.
Our role at SpecialChem was to help our client select the most promising molecules, then to explore the best application opportunities, as shown in Table 1 below.
Table 1: Application segmentation model for each molecule
The main objectives were to:
SpecialChem Insight Solutions
4 to 6 months to assess the market potential and needs
To gather market feedback in a short timeline, we created unbranded material concepts (properties, benefits, usages, etc.) that we shared with our broad community via digital channels. Targeted professionals had the possibility to answer a first set of questions online then to connect with us for a deeper technical discussion. We collected insights through online feedback, behavior analysis, promotion performances and phone interviews with carefully selected contacts. We built a detailed report based on the learnings with recommended next steps for the client.
The Benefits
Faster and higher ROI with Insight Solutions
- Faster time-to-market: save a minimum of 2 years
- Increase your probability of commercial success
- Intensive cost and resource savings to acquire data-based knowledge
- Identify reliable partners with strong projects
- Direct access to the broadest specialized audience in the coatings, adhesives, and plastics industry: 9 million technical specifiers using SpecialChem annually
- Capture a comprehensive market understanding of the target markets' unmet needs
- 100% anonymity with unbiased feedback
The Results
Clear recommendations to bring sustainable products to the market
The Insight Solutions project proved an extremely high interest in the molecules: both from quantitative and qualitative point of view.
- 25 industry partners were identified in total, including major resin producers and formulators (BASF, Henkel, PPG) as well as medium sized companies
- A clear value proposition was validated for each molecule with one identified that increased the biocontent in the formulations, and the others – for their combination of barrier properties and biodegradability
- Key applications and respective benchmarks were confirmed, supported by the analysis of an important number of datapoints (1,000+ technical formulators reviewed the concepts and 130+ targeted professionals completed our online survey. Then we conducted 27 extensive one-to-one interviews)
- Strategies were recommended on how to approach each region based on the learnings about the best applications & value attributes, potential and price acceptance
- We provided clear guidance on which data was still neededto convince future customers and efficiently scale up high-quality products.