UV-curing PU lacquer system for restoration of floors Market study
| Reference number | |
| Coordinator | UvElite Ab |
| Funding from Vinnova | SEK 200 000 |
| Project duration | November 2014 - April 2015 |
| Status | Completed |
Purpose and goal
As a result of this project, our goal to identify the market potential and gaining a deeper understanding of needs and market characteristics in USA, as well as areas for further product development were achieved. New business opportunities were identified which leads to a bigger market potential for our new system in the future.
Results and expected effects
Our market research not only verified the demand for our product, but also opened up new business opportunities which would double market size up to 270MSEK in 3-5 years for us. Besides, with new opportunities we see the need to recruit a lab engineer for further development of our innovation. If successful with the development of our system, we will recruit a sales force for USA in one year from now.
Approach and implementation
The project was performed according to the plan. By working closely to consultants and market players in USA, we managed to implement the project plan more intensively which enabled us to finalize our analysis about one month sooner than what we expected. Following steps were taken: -Conduct interviews and research with market players and potential users. -Gain and conduct field projects parallel to lab tests for old and new application instructions. -Planning of academic research and development, literature review.