Client’s Problem Statement

Our client, an OCTG anti-corrosion coating company, was keen to increase its market penetration in the downhole tubing coating business. Markets and Markets engagement model helped in solving a series of problems for the senior management, including but not limited to-

1. Identification of regional markets to target
2. Understanding of competitive intelligence on major coating companies
3. Build value proposition for target customers

Our Approach

For the target product, we assisted the client with an outside-in perspective on the potential of the downhole tubing market in the oil & gas industry across the US. Our analyst hours helped them identify the current and forecasted demand for anti-corrosion coatings in downhole tubing for the oil & gas industry in the US. We further helped them better understand the competitive landscape as well as the business models & strategies of different players to win in these markets. Interviews with a host of potential customers in different regions were conducted to understand their unmet needs, pull for target products, and what they looked for in a product. This, coupled with our client services, helped our client refine their value proposition to gain share quickly.

KnowledgeStore was leveraged to offer exclusive insights into interconnected high-growth niche markets. Also, the causes of revenue shifts and unknowns in client’s and client’s clients’ ecosystem were analyzed.

Revenue Shifts Identified

Current surge in onshore, offshore and shale reserve exploratory activities is observed to cause shifts in revenue resources.

Interconnections

Demand across industries, such as marine, industrial, power generation, and oil & gas are projected to impact market growth. Other factors, such as, shale gas exploration, well completion and intervention, drilling & completion fluid services are anticipated to influence the future trajectory of the market.

Unknowns Identified

Anticorrosion nanocoatings to protect the pipes that are used in oil and gas industry/smart coatings that can self-heal and communicate damage are likely to gain popularity across the market.

Revenue Impact (RI)

Our findings helped the client to penetrate the USD 160 million market, with projected revenue of USD 8 million in 5 years. This further helped the client to grow its OCTG anti-corrosion business in the US.