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Developing a sufficiently detailed understanding
of which markets offer the greatest opportunity — and
whether that opportunity is sustainable — can be a
complex task. Many factors must be considered, such as
application requirement, cost of change to molders / resin
users, processing conditions, market size, market
potential and competition. Additionally, shifting trends
which open — or close — the potential market
opportunity must be fully assessed. The complexity of this
exercise is compounded where multiple market segments are
being analyzed.
Lucintel has developed proprietary models and
market assessment tools to support rigorous screening,
evaluation and prioritization processes. These models and
tools are used to screen and rank specific applications.
In many cases, the cost of developing and
actively pursuing an application for a material or
technology can exceed $1 million, when including the cost
of product design, testing, prototyping, sales and
marketing. Therefore, it becomes crucial for the firm to
identify the best applications in the earliest phase of
the budgeting and resource allotment process. This prevents wasting
resources in the application development process where the chances of success are limited.
Lucintel offers clients an unbiased perspective that saves them from costly mistakes while providing insight into the best
opportunities. This
insight provides a greater chance of success for your
material and technology systems.
Identifying the best opportunities from more than
30,000 composite applications becomes a challenging task
and requires unique expertise and intimate market
knowledge.
Following are project descriptions, demonstrating how Lucintel assisted innovative companies in identifying the
best applications for their new and existing materials or
technologies.
1.
Our U.S. based client developed a new
resin system, possessing
greater toughness but higher costs than polyester and epoxy resin.
Lucintel identified applications, where molders would be willing
to pay a premium for the improved performance and processing benefits.
The client wanted to focus on a targeted number of applications
where they would receive the highest return on their investment.
Lucintel screened and evaluated hundreds of applications and
identified a top 10 list of applications for the new resin system,
where there was clear synergy between application requirement and
the material’s product features. In helping develop this solution,
Lucintel used analytical models and tools during the evaluation
and prioritization process. Our efforts isolated and quantified
the drivers for change for each application.
2.
Another Lucintel’ client developed a new patented composite
forming technology and wanted to identify the best applications
where they could use
or license their technology for the manufacturing of composite parts.
Lucintel screened and evaluated hundreds of applications and
identified 10 prospects
for the new technology. Lucintel deployed a structured approach
during the evaluation and ranking process. The drivers for change
for each application were identified and quantified.
The client had planned to invest $700,000 in a second round
of testing and prototyping.
Our analysis discovered a lack of competitiveness of the
client’s technology compared with existing technologies.
This work resulted in saving the client over $500,000 in
potentially costly capital investment mistakes.
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