Konstanz, Germany, December 30, 2011 --(PR.com
)-- CIM Barometer at 10.8 Points
According to Ceresana, the current situation of the surveyed companies scores 10.1 points. The expectations, at 11.6 points, are even slightly better. All in all, the CIM Barometer slightly declined compared to the autumn survey.
However, the diminished expectations in Western Europe, caused by the debt crisis, only slightly impact the overall mood. Excellent expectations worldwide – above all in Eastern Europe and North America – suggest a further upward trend.
Companies Focus on Foreign Business
Organic growth and an increased market share abroad will boost growth in the chemical and plastic industries. The surveyed companies reflect an optimistic mood and believe to be well-informed. However, the survey results from Ceresana revealed that companies need to find better solutions for obtaining reliable market information.
Although a clear majority of the respondents believe that new customers provide the largest potential for growth, the Ceresana Industry Monitor reveals that companies lack essential information when looking for new customers. 30% of the respondents say they lack information on potential clients abroad.
Yet, the majority of the surveyed companies want to intensify their international business and expand their export share. “If companies want to achieve their growth targets and increase their market share abroad, they need a deep insight into potential markets,” says Oliver Kutsch, managing director of Ceresana. More than 40% of those companies, which evaluate their information on potential customers abroad as good, also assess their current business situation as good, which is above the average.
Customer Loyalty as a Competitive Advantage
More than 60% of the surveyed companies say they stand out from the competition due to their customer loyalty and service. Approximately 18% expect existing customers to be the strongest growth driver for their company. Most respondents see their strongest growth driver in new customers. They intend to satisfy their new clients with quality & design as well as highest quality technologies.
The majority of the surveyed companies see the most urgent need for action in technology and marketing as well as cost reduction. Particularly companies, which regard quality and design of their products as competitive advantages, want to lower costs.
About 25% of the respondents say they need to invest more in market information. Profound market intelligence of downstream sectors pays off: 43% of those companies, which evaluate their information on downstream industries as good, also rate their current business situation as good. On an average, this is the case for only 34%.
Ceresana Industry Monitor – Methodology
The CIM analyzes the business climate of the global chemical and plastic industries. Individuals selected from a pool of more than 110,000 companies are asked to participate in our surveys every three months. The survey was answered by decision-makers from 46 countries.
In order to provide a representative overall picture, companies of all sizes were asked about their current business situation, expectations, and evaluations. This allows for detecting future market trends, opportunities, and challenges on time.
The detailed results can be obtained exclusively from Ceresana Research. The results offer a general overview of the chemical industry as well as detailed analyses of five industrial sectors: Manufacturers of petrochemicals, plastics & elastomers, processors of plastics & elastomers, specialty chemistry, chemical trade as well as paints, varnishes & adhesives. Survey participants will get these in-depths reports for free.
About Ceresana Research
Ceresana is the most trusted market research company for the industry.
The expert team provides reliable and comprehensive market analyses and forecasts, which help customers to compete the best in their market segment.
Several 1,000 companies from more than 55 countries already profit from the global market intelligence to achieve and maintain a sustainable competitive advantage. Ceresana offers multi-client reports as well as single-client studies, tailored to specific business requirements. Highest quality services help companies to increase revenues, reduce risks, and strengthen their market position.
The Ceresana business analysts are specialists in markets such as chemicals, plastics, additives, commodities, industrial components, packaging, and construction materials.
To find out more visit Ceresana's website ceresana.com/en
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