NNFCC worked together with Circa Group Ltd on a
detailed project, delivering to Circa extensive market research for its core
product, Cyrene®. Cyrene® is alternative polar aprotic solvent to NMP, which is
derived from saw dust using Circa’s proprietary Furacel™ technology. The SME
required a piece of market research to identify and quantify the market
opportunities linked with the replacement of solvents which are or are
suspected to be substances of very high concern (SVHC) under the REACH
legislation. NNFCC gathered the following information on each solvent:
- the selling price
- the current and forecast market
volumes by application and region
- the key competitors, distributors
and end-users
- existing commercial solvent
alternatives and their suitability
The above data was used to determine the
addressable market for each solvent and draw a priorities list including
promising markets and further actions required to break into these markets. As
a result, the work carried-up by NNFCC has allowed Circa and its value chain to
priorities research for a few numbers of chemicals and applications,
accelerating the commercialisation of Cyrene® in end-user applications.