Sizing the market opportunity for a new adhesive product
A global manufacturer, supplying backing material to the tape market asked us to help assess the potential for a new product line. While the market is currently dominated by plastic products, our client had developed a new paper-based technology, which they hoped would disrupt the market.
Using a combination of secondary and primary research, we reviewed the market in Germany, China, the UK and USA. This involved speaking with key decision-makers across the value chain, including direct tape manufacturing customers, distributors and manufacturing/ logistics end users. From this data we were able to measure the size of the market, and likely demand for a paper-based alternative tape.
The findings from the research indicated an opportunity to sell an alternative product to the market, and a willingness for end users to switch solutions. A year on, our client had refined its product innovation and secured its first order with a major global manufacturer.