Periodic Reporting for period 1 - ADDPRIME (Multifunctional smart inhibitors for anti-corrosive coatings, enabling a significant reduction of maintenance costs on metallic surfaces)
Período documentado: 2018-08-01 hasta 2019-01-31
As result of the interaction between metallic materials and the surrounding environment, a destructive oxidation process occurs -corrosion- representing a high concern, in several industries. It is estimated that an average of 701B€ per year are spent to solve problems related with corrosion, only in Europe. Current solutions represent small savings of 15% of global costs of corrosion (CoC). The most widely used are the application of protective organic coatings + additives, or metallic coatings. However, these solutions have a low protective capacity, resulting in low efficient options that require additional maintenance operations, and, consequently, increased costs. Furthermore, these solutions release toxic components to the environment.
Smallmatek – Small Materials and Technologies (SMT), has since 2010 successfully managed to develop the ADDPRIME®, a solution based on a patented technology that protects metals from the corrosion, while mitigating the above-mentioned problems. ADDPRIME® is an innovative and easy-to-use nanotechnology that brings anti-corrosive characteristics to coatings, increasing in 6 times the metals corrosion resistance. Moreover, our solution based in a patented technology, requires less consumption of additives (up to 5 times) and brings less danger to the environment and human health, with up to 3 times less toxicity than the current solutions. This will result in decreasing maintenance costs up to 60% and coatings costs up to 27%.
The overall objectives are to identify suitable 2 target markets. Identify 3-5 potential customers in those target markets and validate their needs and willingness to pay for ADDPRIME. Adjust the porduct criteirias to this needs and enhance the application range of ADDPRIME. Presnet a Business Plan and future steps.
Smallmatek – Small Materials and Technologies (SMT), has since 2010 successfully managed to develop the ADDPRIME®, a solution based on a patented technology that protects metals from the corrosion, while mitigating the above-mentioned problems. ADDPRIME® is an innovative and easy-to-use nanotechnology that brings anti-corrosive characteristics to coatings, increasing in 6 times the metals corrosion resistance. Moreover, our solution based in a patented technology, requires less consumption of additives (up to 5 times) and brings less danger to the environment and human health, with up to 3 times less toxicity than the current solutions. This will result in decreasing maintenance costs up to 60% and coatings costs up to 27%.
The overall objectives are to identify suitable 2 target markets. Identify 3-5 potential customers in those target markets and validate their needs and willingness to pay for ADDPRIME. Adjust the porduct criteirias to this needs and enhance the application range of ADDPRIME. Presnet a Business Plan and future steps.
During the action, a feasibility study was conducted approving the technological, practical and economic feasibility of ADDPRIME®. The feasibility study based on assessing market and competition landscape. Moreover, technological design, functions and specifications were verified by customer involvement. This was done by surveys and interviews with potential customers. An implementation plan was elaborated for successful market introduction and the results of the feasibility study were integrated in a business plan including a commercialisation strategy and ideal sales concept for defined markets.
The defined target market segments are the Automotive and Aerospace coating sector. A utility analysis proved their strong willingness to pay for high anti-corrosion performance, Smallmatek has already partners and contacts from previous project in those sectors and the feedback from previous tests with partners was very positve. There was high interest from the big paint/coating producers which dominate those industires stated in the answers of the survey and interviews.
A detailed market analysis was conducted of the total paint/coating market and more detailed for the two defined target markets Automotive and Aerospace coatings. The market analysis included a Top-down approach as well as a detailed Bottom-up approach to define the TAM of ADDPRIME in both markets as well as a realisitc markets share targeted by Smallmatek for both markets.
The field of competitors in the market was analysed including their company profiles and competitve products. These products where tested and compared to ADDPRIME in terms of corrosion resistance and performance. ADDPRIME was by far supiror to all of them as well as to the harmful Cr(IV).
Also the technological definition & verification ADDPRIME® specifications for each market segments were identified and the technological part of the implementation plant for the next 2 year peroid was adapted to it.
In terms of dissimination strategy two detailed step-by-step plans were devolped to adress medium-coating producers and big paint/coating producers.Furthermore during the feasibility study, project risks have been identified, evaluated and addressed by appropriate risk mitigation measures. New Smallmatek stakeholders were identified which showed high interest in a cooperation regarding ADDPRIME for new pilot studies.
In the last part of the feasibility study the business plan was updated. New targets were set for Product, Price, Place and Promotion. A implementation plan was also developed for the next 2 years period to bring a fully developed ADDPRIME to the market hopefully with the support of a Phase 2 grant. Also the finacial plan was updated due to the different target markets and changes in product development.
The defined target market segments are the Automotive and Aerospace coating sector. A utility analysis proved their strong willingness to pay for high anti-corrosion performance, Smallmatek has already partners and contacts from previous project in those sectors and the feedback from previous tests with partners was very positve. There was high interest from the big paint/coating producers which dominate those industires stated in the answers of the survey and interviews.
A detailed market analysis was conducted of the total paint/coating market and more detailed for the two defined target markets Automotive and Aerospace coatings. The market analysis included a Top-down approach as well as a detailed Bottom-up approach to define the TAM of ADDPRIME in both markets as well as a realisitc markets share targeted by Smallmatek for both markets.
The field of competitors in the market was analysed including their company profiles and competitve products. These products where tested and compared to ADDPRIME in terms of corrosion resistance and performance. ADDPRIME was by far supiror to all of them as well as to the harmful Cr(IV).
Also the technological definition & verification ADDPRIME® specifications for each market segments were identified and the technological part of the implementation plant for the next 2 year peroid was adapted to it.
In terms of dissimination strategy two detailed step-by-step plans were devolped to adress medium-coating producers and big paint/coating producers.Furthermore during the feasibility study, project risks have been identified, evaluated and addressed by appropriate risk mitigation measures. New Smallmatek stakeholders were identified which showed high interest in a cooperation regarding ADDPRIME for new pilot studies.
In the last part of the feasibility study the business plan was updated. New targets were set for Product, Price, Place and Promotion. A implementation plan was also developed for the next 2 years period to bring a fully developed ADDPRIME to the market hopefully with the support of a Phase 2 grant. Also the finacial plan was updated due to the different target markets and changes in product development.
ADDPRIME offers a low toxic solution for environmental harmful and toxic and high performance additives like Cr(IV). Those chromates are already banned in most sectors but due to the lack of an low toxic alternative the aerospace coating sector still depends on them. ADDPRIME can change this dilemma and offer a product with the same and even better anti-corrosion performance (proven by tests stated in the report) and low toxicity. If ADDPRIME can replace the high toxic chromates the whole environment would profit from it.