The client has plans to start a sourcing firm to supply raw materials in the chemical industry. They would like to understand the raw material requirements of the different chemicals companies in Maharashtra.
NextWave carried out a total of 70 interviews with company owners or purchase managers of chemical companies in the MIDC areas of Kurkumbh, Pirangut and Mahad.
The focus was to understand their raw material requirements, suppliers, pricing (where possible), challenges being faced, etc.
The chemical companies were from the different segments such as bulk intermediates, API, specialty chemicals, fertilisers, water treatment and plastic.
Based on the information from the respondents, the raw material requirement for the companies in the different segments were analysed.
The details such as pricing, existing suppliers, challenges being faced were also understood.
The top selling raw material chemicals included Toluene, Caustic Flakes, HCL, H2SO4, Acetic Acid. The specific chemicals that companies were having a challenge to import from China were also identified.
The insights from the market research enabled the company to develop their marketing and sales plan and successfully enter the market.