Identifying New Markets: How a petrochemical leader unlocked new markets for its bio-based product through application scouting and feasibility analysis
At-a-glance
| Originally used in cosmetics, a global petrochemical leader sought to introduce its bio-based product into new industries aligned with sustainability trends. We scouted 200 potential applications across 20 industries while evaluating technical compatibility, market potential, and barriers-to-switching to shortlist the five segments with the strongest growth potential.
Our data and insights provided a clear roadmap for market expansion and sparked immediate client action to further develop a go-to-market strategy in the most-promising segment recommended by FutureBridge. |
 The work revealed five viable markets and showed us where small tweaks could unlock faster adoption. |
The Challenge
Our client sought to diversify beyond cosmetics and identify where its mature bio-based product could replace synthetic alternatives across new industries.
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| Market Expansion Uncertainty
Unclear which industries beyond cosmetics offered viable opportunities. |
Technical Fit Questions
Validate if the product’s properties matched application requirements without major modification. |
Sustainability-Driven Demand
Understand where bio-based alternatives are prioritized under the EU Green Deal and similar policies. |
Commercial Viability
Assess potential market size, growth, and willingness to switch from existing materials. |
The Solution
We conducted a multi-layered, evidence-based benchmarking study, delivered in two key steps:
| Stage 1 | Stage 2 | Stage 3 | Stage 4 | Stage 5 |
| Â Application Scouting |
Property Matching | Market Evaluation | Switching & Risk Assessment | Scoring & Shortlisting |
| Mapped 200+ potential applications across 20 industries using patents, technical literature, and product databases. | Compared the product properties with application-specific technical requirements to confirm compatibility. | Sized and forecasted target markets, analyzing growth and regional opportunities. | Assessed willingness to switch, pricing, regulatory barriers, and competitive risks to prioritize segments. | Applied criteria-based scoring to narrow down from 20 possible msrkets to five high-potential sectors. |
The Findings
Our benchmarking uncovered unexpected dynamics across competitor strategies, pricing, and portfolios. These insights gave the client a clear view of their own position and where they were falling behind.
 Â Â Â Findings |
   What It Meant |
| Five high-potential sectors identified | Clear roadmap for immediate and mid-term market entry beyond cosmetics. |
| Two segments compatible as-is, three require minor tailoring | Fast-track opportunities identified alongside longer-term innovation paths. |
| Regional demand hotspots revealed | North America emerged strongest for one market, while Europe led for two others due to green policies. |
The Impact
We positioned our client to diversify revenue streams and act quickly on bio-based growth opportunities. We unlocked a five-segment expansion strategy and supported immediate go-to-market exploration in one priority category.
| Five New Markets Identified | Actionable Go-to-Market Strategy | Customization Roadmap | Targeted Customer Pipeline |
| Expanded focus from cosmetics into new applications. | Client initiated deeper evaluation for one high-potential segment post-project. | Clear guidance on where minor technical adjustments would enable broader adoption. | Delivered 100+ potential customer leads across shortlisted applications. |
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