To meet the demand for petrochemicals over the next years, a chemical company wished to innovate into more branches. The company aspired to attain sustainability and satisfy the new requirements of the industry by working with Research Nester.
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The business of our client is a specialty chemical producer and supplier of technology for the international consumer, industrial, and transportation industries. Triazine, water injection chemicals, oil and gas production chemicals, refinery process chemicals, water treatment chemicals, and refinery additives are just a few of the many goods the firm provides. The corporation has 50 production locations worldwide and services clients in more than 80 nations.
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The company's business strategy calls for a greater emphasis on the research and development of new goods and an increase in its manufacturing capacities of 5% over the next six months.
Oil refineries make considerable use of refinery process chemicals. They aid in reducing bad odors, corrosion, and PH level regulation. The global refinery process chemicals market is anticipated to expand more quickly as a result of factors including rising crude oil output, rising petroleum product consumption throughout the world, and rising energy demand across various end-user industries.
When compared to competitors in the same industry who were expanding swiftly, our customer's geographic footprint in emerging regions was limited. The profitability ratio fell short of the sector average. The supply chain's vulnerability prevented geographic expansion. The manufacturing drop caused sales of the products to drop by more than 4%. The primary cause of the 10% sales decline in recent years was inadequate research and development resources. Additionally, our client wanted to go from producing mostly fuels like gasoline, diesel, and similar fuels to petrochemicals such as olefins, aromatics, glycols, and polymers. The conversion of the petroleum business to the chemical industry will open up markets for both the conventional refinery process chemicals and novel process chemicals that will help produce petrochemicals and reduce any adverse environmental effects by 10-15%.
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Research Nester collaborated with our client to concentrate on the business plan to invest in R&D operations to launch high-performance and technically distinct goods.
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The goal of our knowledgeable team's study of each market sector was to enhance expenditures throughout manufacturing activities to boost efficiency and expand the business.
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We were committed to creating fresh supply chain finance programs with the client, as well as to promoting cutting-edge technology for the manufacture of renewable chemicals and fuels.
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An extensive market analysis led to the creation of a comprehensive strategy to expand the client’s business by pursuing appropriate acquisitions and joint venture opportunities. The acquisition will help the company to increase its footprint in other regions and expand its product portfolio in emerging business segments.
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We helped our client handle new market possibilities and create new goods and services to satisfy consumer demand which would further accelerate profitable growth.
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The main goal of the company's business plan was to increase its research and development capabilities. The market insights offered by our team were concentrated on growing the customer base of customers through online sales channels.
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The business was also able to extend its operations internationally and produce new products for emerging markets by working with Research Nester. Within a duration of a year, our client was able to launch its product portfolio including refinery antifoulants, settling aids, cloud point depressants, corrosion inhibitors, metals deactivators, and antioxidants.
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By the year 2029 the company is further anticipated to expand its market share with various strategical moves. Furthermore, the business has planned to spend money on new factories in North America and Asia for the Clean Air sector.
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In July 2022, our client entered into a strategic partnership with an American high-tech industrial company, to develop and commercialize novel technologies for the production of renewable fuels and chemicals. Under this partnership, the partner company will provide its extensive expertise and broad portfolio of groundbreaking gas-to-liquid technology.
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Recently, the corporation declared its intention to establish its first chemical production facility in Europe. The construction of this facility would make it simpler for consumers to reach from the Middle East. The business would provide the transmission, processing, hydrocarbon production, and petrochemical sectors in Europe with a wide range of goods.
