LONDON--(BUSINESS WIRE)--A well-known market intelligence company, Infiniti Research, has partnered with several global companies across industries to help meet their strategic objectives and implement seamless route-to-market strategies through turnkey solutions. Their latest success story outlines the key business challenges faced by a paints and coatings manufacturer and explains how the client leveraged market identification engagement to combat these roadblocks. Request a complimentary proposal to learn more about Infiniti’s market research solution.
The global paints and coatings industry is expected to grow at a considerable rate over the coming years. This is largely fueled by increasing demand from both developed and developing countries. Additionally, surging economic growth, increasing demand from the construction sector, and the ever-growing market for consumer goods and automobiles are expected to contribute to the paints and coatings market expansion. Despite the positive outlook, paints and coatings manufacturers continue to face an array of challenges. These include rising raw material prices, stringent environmental regulations, global economic uncertainty, technological constraints, and regulatory hurdles. As such, companies operating in the paints and coatings industry are in the need to take strategic initiatives to respond to these ever-changing market conditions.
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Business Challenges Faced:
The client is a paints and coatings manufacturer based out of Germany. The client was planning to open a new production unit and establish its operations in the United States. However, the client noted that the closure of some production plants in the USA due to failures, maintenance work, and accidents resulted in the volatility of raw material prices. Also, the rising impact of volatile organic compounds (VOCs) and regulatory hurdles made it difficult for the company to expand their operations to the United States. The client, therefore, wanted to gather a comprehensive understanding of the cost structure in the US paints and coatings industry. Also, the client wanted to understand the key preferences of consumers from a brand recall standpoint. They chose to partner with Infiniti Research to leverage their expertise in offering market identification solution.
With Infiniti’s market identification solution, the client was able to analyze the US paints and coatings industry with respect to market metrics and forecast its growth. Also, the client was able to gather comprehensive insights on the regulatory and competitive environment in the US paints and coatings industry. In addition to this, the client was able to develop a baseline understanding of the entire value chain and specified products in the market.
Besides, the client was able to:
- Identify various technologies being implemented by companies in the US paints and coatings industry and the main technology providers providing these solutions
- Successfully establish their business presence in the Mideast and Southeast United States
- Identify the niche customer segments to focus on to market their products
- Create contingency plans to meet the unexpected changes in the prices of raw materials
- Efficiently price their products and focus on product portfolio expansion
- Implement similar technologies and enhance operational efficiency
- Increase sales by 23%
Companies in the paints and coatings industry must look for growth opportunities, adopt agile business models, and have a targeted approach to gain a competitive edge in the market. Our market identification solution can help you to achieve all these strategic objectives. Request more info on our market identification solution.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us