Company: An International Composites manufacturer
Issue : How do we best break into a new market?
The premier global formulator and manufacturer of thermoset molding compounds for custom molders and OEMs wanted to expand its products into Heavy Duty (HD) truck market. They needed to identify higher performance, niche applications for SMC/BMC (thermoset compounds) to leverage its materials & engineering design strengths.
Lucintel’s Solution: Market segment analysis. Market entry strategy.
Lucintel conducted detailed telephone interviews & surveys with knowledgeable industry contacts associated with the use of SMC/BMC (thermoset compounds) in heavy duty trucks and engines, ranging from molders, diesel engine manufacturers, HD truck OEM’s, and industry experts. Lucintel delivered:
- The state of the market: size, growth, global influences, materials availability, price pressures, substitutes and competition
- Specific products and applications experiencing successful material conversion and prediction of future products ripe for change.
- Performance requirement and cost reduction trends for the last 5 years.
- Forecast of product requirements in the next 5 years
- Supplier entry options on how a vendors would best present and capture a technical solution to this industry
Results: Profitable Market Expansion
Based on the conclusions of Lucintel study, the client was able to capture several high value applications in the HD truck market, and has a flourishing partnership development program in this market segment.