How we assessed the market readiness for new SVHC-free products amid regulatory pressures
- Case Study - Insight Solutions
- Polymers Applications
The Challenge
Confirm market readiness for new-generation additives, free from Substances of Very High Concern (SVHC)
Anticipating near future restrictions under REACH, a leading additive producer was exploring the potential to expand its portfolio with new-generation additives, free from Substances of Very High Concern (SVHC) like alkylphenols, or NIAS substances. The company wanted to test the market'readiness for alternative materials before investing in new product development.
We were contacted to help :
- Determine the potential impact of upcoming regulations, including the need for replacements of the current benchmark technology.
- Evaluate the market's pressure to find alternative solutions over the next 1-2 years and establish a realistic timeline if interest is limited
Our approach and actions in 8 weeks
Concept development
We developed a product concept outlining the material's benefits and its potential applications, as well as the degree of compliance with the upcoming regulations.
Target outreach
Leveraging the SpecialChem community of technical buyers of specialty chemicals, the largest in the world, we established a list of companies involved in the targeted applications of over 10,000 unique decision makers.
The material concept was shared with these contacts, along with specific questions to help understand their concerns and needs.
Engagement
More than 1,000 individuals engaged with the communication, with over 150 professionals showing great interest. The engagement analysis revealed key companies, markets, and regions with the highest levels of interest.
Over 40 industry professionals provided detailed responses regarding their challenges, needs, and expectations related to the expected regulations and their compliance timelines.
One-on-one interviews with them helped gather insights about how different industry sectors are managing the SVHC question and preparing for potential changes.
The Results
Strategic analysis:
Our research confirmed that the regulators were not ready to implement a ban within the coming 18 months. It also showed, that despite considerable concerns, the market was still in the screening phase and had not begun evaluating alternatives, estimating a market readiness timeline of 3-5 years or more.
Pre-engagement strategy:
We assisted our Client in connecting early with selected resin producers and compounders in Europe who showed a particluar interest in the new alternatives in development. These companies were interested in collaborating on emerging solutions and for some of them even in co-designing the new products to have reliable solutions when the ban would come into force.
The project enabled the Client to make an informed decision on business strategy. They were able to avoid premature investment and to save big amounts of resources. The company gained clear insights on the timeline for future developments in 8 weeks, with direct market feedback they would not have been able to gather on their own in such a short amount of time.
The Benefits
- Fast and highly reliable sustainability check:
In 8 weeks, our Client confirmed the reality of market fit for their sustainable product development - Spared resources and investments:
Client made informed decisions regarding the timing of their investment in alignment with market readiness. - Identification of early adopters:
We identified key companies ready to validate the new product prior to its launch. Which typically leads to a better product, really aligned with the market needs, a much deeper application knowledge and a successful launch.