Client’s Problem Statement
Our client wanted to grow its revenue sources. Markets and Market engagement helped in understanding the demand for readymade shades and tinted paints in various European countries. A detailed market intelligence, coupled with actionable insights using analyst hours, was offered. Few of the crucial insights required by the client were-
We assisted the client with an outside-in perspective on the separate market potential of tinted paints and readymade shades for the decorative paint industry. We analyzed 5 key European countries in detail. We gathered information of the top five paint suppliers in each country, customer preference for tinted paints and readymade shades, customer behavior toward the type of paints, major brands of each supplier in each country for both tinted paints and readymade shades, as well as the forecasted sales of each supplier in both segments.
The trends related to market and customer preference were analyzed deeply using analyst hours. It helped to highlight the scenario of end users, competition, environmental norms, raw material, and price.
A market forecast analysis for both, the segment and detailed profile of 5 major market players was provided, which enabled our client to decide which country to target, which segment to target, and what pricing strategies to design after assessing its own position against its competitors in each country.
As a part of our engagement model, the client was offered in-depth market intelligence on revenue shifts in interconnected ecosystems and unknowns emerging in the ecosystem in KnowledgeStore. Detailed competitive intelligence and market share analysis were also shared with the client along with exclusive insights.
Revenue Shifts Identified
Readymade shades market is expected to reach Euro 690 million by 2022 in terms of value at CAGR of 1.8% and expected to exhibit the slow growth when compared to tinted paints as customers are preferring their own shades for better aesthetic feel of their home. European tinted paints market will reach to Euro 10,868 million in 2022, growing at a CAGR of 3%. A major reason has been the preference among decorative paints producers to cut storage costs by reducing inventories
Fluctuating product prices and raw material scarcity is directly impacting the production and selling price of readymade shades. European construction industry is estimated to grow rapidly at a CAGR of 3-5% during 2017 – 2022. The growth of construction industry will directly impact the demand of readymade shades for decorative applications. Increasing home interior decoration and refurbishing activities are driving the usage of readymade shades for building applications.
Architectural coatings market is expected to be propelled by high demand from renovation activities. Eastern Europe is expected to have higher attractive growth opportunities than Western Europe
Revenue Impact (RI)
Our findings helped the client to launch a competitive brand as per customer preferences in 2 major European countries, which in turn, strengthened its market position and customer database. The marketing and product launch strategies devised through our client servicing enabled the client to tap the opportunity to a tune of USD 250-300 million.
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