Acrylic Adhesives Market Research Report 2021-2031
The Acrylic Adhesives Market is expected to register a CAGR of 6% from 2023 to 2031, with a market size expanding from US$ XX Million in 2023 to US$ XX Million by 2031.
The acrylic adhesives market report is segmented by type (acrylic polymer emulsion, cyanoacrylic adhesives, methacrylic adhesives, UV curable acrylic adhesives, and others). The market is segmented based on the technology (water-based, solvent based, reactive, and others). The market is segmented based on the end-use industry (packaging, construction, wood and furniture, electrical and electronics, medical, transportation, and others). The global analysis is further broken down at the regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis, segments, regions, and countries. The report covers market trends, as well as market dynamics such as drivers, restraints, and key opportunities. The report also covers industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the market.
Purpose of the ReportThe report Acrylic Adhesives Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Acrylic Adhesives Market Segmentation
Type- Acrylic Polymer Emulsion
- Cyanoacrylic Adhesives
- Methacrylic Adhesives
- UV Curable Acrylic Adhesives
- Water-Based
- Solvent Based
- Reactive
- Packaging
- Construction
- Wood and Furniture
- Electrical and Electronics
- Medical
- Transportation
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Acrylic Adhesives Market Growth Drivers- Increasing Demand for Acrylic Adhesives in Automotive: For the past few decades, the automotive sector has been the largest contributor to acrylic adhesives consumption. Owing to the increasing incidence of lightweight vehicles, manufacturers have started switching to acrylic adhesives for the bonding of plastic metals and composites. These adhesives exhibit excellent strength, flexibility and resistance to extreme environmental conditions. Given the increasing trends in vehicle production around the world, especially in developing economies, the consumption of acrylic adhesives in the automotive industry is projected to rise further.
- Growth of Acrylic Adhesives in Construction: The construction sector is booming, backed by urbanization, infrastructure developments, and an increase in demand for housing. Acrylic adhesives are preferred because of their bonding strength and use in different applications like flooring, roofing, and wall paneling. There are also manufacturers pushing for the use of low VOC adhesive products in line with the current sustainable construction practices. This has also contributed to the growing need for acrylic adhesives that are in line with these requirements.
- Rising Demand for Acrylic Adhesives in Electronics: There has been rapid growth in electronics due to innovation and consumer appetite for electronic products therefore leading to the acrylic adhesives market. They are used in bonding of screens, in the assembling of circuit boards and in the encapsulation of parts.
- Shift Towards Eco-Friendly Adhesives: With the growing concern over environmental issues, the adhesive market is also changing. The demand for products that have low VOC (volatile organic compounds) content comes from both consumers and regulatory authorities. It is evident that manufacturers are currently focusing on producing bio-based acrylic adhesives as well as coatings with reduced levels of harmful substances.
- Innovation Driving Acrylic Adhesive Growth: Increasingly, developments in technology dealing with adhesives are bound to affect the acrylic adhesives market positively. For example, advanced bonding methods, curing improvement techniques, and new innovations, such as smart adhesives that can respond to environmental changes, are emerging. These innovations will enhance the field applications of acrylic adhesives.
- Proliferation of E-Commerce: Another packaging-related trend that affects the use of acrylic adhesives is the rise of e-commerce. E-commerce has had many effects, and packaging is one of them. This trend will, in turn, stimulate the use of acrylic adhesives in more advanced external packaging.
- Growing Acrylic Adhesives Demand in Emerging Markets: Asia-Pacific, Latin America, and Africa, regions are more inclined to grow the consumption of acrylic adhesives. These regions are experiencing rapid growth due to factors such as industrialization, urbanization, and infrastructural development. The companies have an opportunity to grow their presence substantially, which in turn will increase the market and customer share significantly.
- Rising Demand for Custom Acrylic Adhesives: The market is witnessing an upsurge for specialized acrylic adhesives designed for specific end-use verticals such as automotive, aerospace, and medical. Companies are focused on high-performance, application-based adhesive development in their research and development projects. This provides an opportunity for manufacturers to customize their products for various industries, which improves loyalty and increases their market share.
- Strategic Partnerships: In the acrylic adhesives market, forming strategic alliances with parties, such as other companies or research institutes and technology service providers, is highly beneficial. These alliances help in obtaining better technologies, increase the portfolio of the products offered and improve the level of research. In addition, by joining efforts with certain players from allied industries, product development will be taken to another level, and the product’s position in the market will be reinforced.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Acrylic Adhesives Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Acrylic Adhesives Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The growing emphasis on sustainable and eco-friendly products is expected to be the key market trends.
Based on geography, Europe held the largest share of the acrylic adhesives market due to its rapidly growing industries, such as construction, packaging, and others.
Based on end-use industry, the construction segment is expected to witness the fastest growth during the forecast period
Ashland, Dymax, MAPEI, Henkel, ITW Performance Polymer, Hexcel Corporation, Arkema, Sika AG, Avery Dennison, and H.B. Fuller are the key players operating in the acrylic adhesives market.
Increasing demand from the automotive industry is driving the market growth.
The Acrylic Adhesives Market is estimated to witness a CAGR of 6% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Acrylic Adhesives Market - By Technology
1.3.2 Acrylic Adhesives Market - By Type
1.3.3 Acrylic Adhesives Market - By Application
1.3.4 Acrylic Adhesives Market - By Region
1.3.4.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. ACRYLIC ADHESIVES MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. ACRYLIC ADHESIVES MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. ACRYLIC ADHESIVES MARKET - GLOBAL MARKET ANALYSIS
6.1. ACRYLIC ADHESIVES - GLOBAL MARKET OVERVIEW
6.2. ACRYLIC ADHESIVES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ACRYLIC ADHESIVES MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
7.1. OVERVIEW
7.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
7.3. WATER-BASED ACRYLIC ADHESIVES
7.3.1. Overview
7.3.2. Water-Based Acrylic Adhesives Market Forecast and Analysis
7.4. SOLVENT-BASED ACRYLIC ADHESIVES
7.4.1. Overview
7.4.2. Solvent-Based Acrylic Adhesives Market Forecast and Analysis
7.5. REACTIVE ACRYLIC ADHESIVES
7.5.1. Overview
7.5.2. Reactive Acrylic Adhesives Market Forecast and Analysis
7.6. OTHER ACRYLIC ADHESIVES
7.6.1. Overview
7.6.2. Other Acrylic Adhesives Market Forecast and Analysis
8. ACRYLIC ADHESIVES MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
8.1. OVERVIEW
8.2. TYPE MARKET FORECASTS AND ANALYSIS
8.3. ACRYLIC POLYMER EMULSION
8.3.1. Overview
8.3.2. Acrylic Polymer Emulsion Market Forecast and Analysis
8.3.1. Pure Acrylic
8.3.2. Styrene Acrylics
8.3.1. Vinyl acrylics
8.4. CYANOACRYLIC ADHESIVES
8.4.1. Overview
8.4.2. Cyanoacrylic Adhesives Market Forecast and Analysis
8.4.2. Ethyl Cyanoacrylate
8.4.1. Methyl Cyanoacrylate
8.4.2. Other Cyanoacrylates
8.5. METHACRYLIC ADHESIVES
8.5.1. Overview
8.5.2. Methacrylic Adhesives Market Forecast and Analysis
8.6. UV CURABLE ACRYLIC ADHESIVES
8.6.1. Overview
8.6.2. UV Curable Acrylic Adhesives Market Forecast and Analysis
9. ACRYLIC ADHESIVES MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. PAPER & PACKAGING
9.3.1. Overview
9.3.2. Paper & Packaging Market Forecast and Analysis
9.4. CONSTRUCTION
9.4.1. Overview
9.4.2. Construction Market Forecast and Analysis
9.5. WOODWORKING
9.5.1. Overview
9.5.2. Woodworking Market Forecast and Analysis
9.6. TRANSPORTATION
9.6.1. Overview
9.6.2. Transportation Market Forecast and Analysis
9.7. ELECTRICAL & ELECTRONICS
9.7.1. Overview
9.7.2. Electrical & Electronics Market Forecast and Analysis
9.8. CONSUMER
9.8.1. Overview
9.8.2. Consumer Market Forecast and Analysis
9.9. MEDICAL
9.9.1. Overview
9.9.2. Medical Market Forecast and Analysis
9.10. OTHERS
9.10.1. Overview
9.10.2. Others Market Forecast and Analysis
10. ACRYLIC ADHESIVES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Acrylic Adhesives Market Overview
10.1.2 North America Acrylic Adhesives Market Forecasts and Analysis
10.1.3 North America Acrylic Adhesives Market Forecasts and Analysis - By Technology
10.1.4 North America Acrylic Adhesives Market Forecasts and Analysis - By Type
10.1.5 North America Acrylic Adhesives Market Forecasts and Analysis - By Application
10.1.6 North America Acrylic Adhesives Market Forecasts and Analysis - By Countries
10.1.6.1 United States Acrylic Adhesives Market
10.1.6.1.1 United States Acrylic Adhesives Market by Technology
10.1.6.1.2 United States Acrylic Adhesives Market by Type
10.1.6.1.3 United States Acrylic Adhesives Market by Application
10.1.6.2 Canada Acrylic Adhesives Market
10.1.6.2.1 Canada Acrylic Adhesives Market by Technology
10.1.6.2.2 Canada Acrylic Adhesives Market by Type
10.1.6.2.3 Canada Acrylic Adhesives Market by Application
10.1.6.3 Mexico Acrylic Adhesives Market
10.1.6.3.1 Mexico Acrylic Adhesives Market by Technology
10.1.6.3.2 Mexico Acrylic Adhesives Market by Type
10.1.6.3.3 Mexico Acrylic Adhesives Market by Application
10.2. EUROPE
10.2.1 Europe Acrylic Adhesives Market Overview
10.2.2 Europe Acrylic Adhesives Market Forecasts and Analysis
10.2.3 Europe Acrylic Adhesives Market Forecasts and Analysis - By Technology
10.2.4 Europe Acrylic Adhesives Market Forecasts and Analysis - By Type
10.2.5 Europe Acrylic Adhesives Market Forecasts and Analysis - By Application
10.2.6 Europe Acrylic Adhesives Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Acrylic Adhesives Market
10.2.6.1.1 Germany Acrylic Adhesives Market by Technology
10.2.6.1.2 Germany Acrylic Adhesives Market by Type
10.2.6.1.3 Germany Acrylic Adhesives Market by Application
10.2.6.2 France Acrylic Adhesives Market
10.2.6.2.1 France Acrylic Adhesives Market by Technology
10.2.6.2.2 France Acrylic Adhesives Market by Type
10.2.6.2.3 France Acrylic Adhesives Market by Application
10.2.6.3 Italy Acrylic Adhesives Market
10.2.6.3.1 Italy Acrylic Adhesives Market by Technology
10.2.6.3.2 Italy Acrylic Adhesives Market by Type
10.2.6.3.3 Italy Acrylic Adhesives Market by Application
10.2.6.4 United Kingdom Acrylic Adhesives Market
10.2.6.4.1 United Kingdom Acrylic Adhesives Market by Technology
10.2.6.4.2 United Kingdom Acrylic Adhesives Market by Type
10.2.6.4.3 United Kingdom Acrylic Adhesives Market by Application
10.2.6.5 Russia Acrylic Adhesives Market
10.2.6.5.1 Russia Acrylic Adhesives Market by Technology
10.2.6.5.2 Russia Acrylic Adhesives Market by Type
10.2.6.5.3 Russia Acrylic Adhesives Market by Application
10.2.6.6 Rest of Europe Acrylic Adhesives Market
10.2.6.6.1 Rest of Europe Acrylic Adhesives Market by Technology
10.2.6.6.2 Rest of Europe Acrylic Adhesives Market by Type
10.2.6.6.3 Rest of Europe Acrylic Adhesives Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Acrylic Adhesives Market Overview
10.3.2 Asia-Pacific Acrylic Adhesives Market Forecasts and Analysis
10.3.3 Asia-Pacific Acrylic Adhesives Market Forecasts and Analysis - By Technology
10.3.4 Asia-Pacific Acrylic Adhesives Market Forecasts and Analysis - By Type
10.3.5 Asia-Pacific Acrylic Adhesives Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Acrylic Adhesives Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Acrylic Adhesives Market
10.3.6.1.1 Australia Acrylic Adhesives Market by Technology
10.3.6.1.2 Australia Acrylic Adhesives Market by Type
10.3.6.1.3 Australia Acrylic Adhesives Market by Application
10.3.6.2 China Acrylic Adhesives Market
10.3.6.2.1 China Acrylic Adhesives Market by Technology
10.3.6.2.2 China Acrylic Adhesives Market by Type
10.3.6.2.3 China Acrylic Adhesives Market by Application
10.3.6.3 India Acrylic Adhesives Market
10.3.6.3.1 India Acrylic Adhesives Market by Technology
10.3.6.3.2 India Acrylic Adhesives Market by Type
10.3.6.3.3 India Acrylic Adhesives Market by Application
10.3.6.4 Japan Acrylic Adhesives Market
10.3.6.4.1 Japan Acrylic Adhesives Market by Technology
10.3.6.4.2 Japan Acrylic Adhesives Market by Type
10.3.6.4.3 Japan Acrylic Adhesives Market by Application
10.3.6.5 South Korea Acrylic Adhesives Market
10.3.6.5.1 South Korea Acrylic Adhesives Market by Technology
10.3.6.5.2 South Korea Acrylic Adhesives Market by Type
10.3.6.5.3 South Korea Acrylic Adhesives Market by Application
10.3.6.6 Rest of Asia-Pacific Acrylic Adhesives Market
10.3.6.6.1 Rest of Asia-Pacific Acrylic Adhesives Market by Technology
10.3.6.6.2 Rest of Asia-Pacific Acrylic Adhesives Market by Type
10.3.6.6.3 Rest of Asia-Pacific Acrylic Adhesives Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Acrylic Adhesives Market Overview
10.4.2 Middle East and Africa Acrylic Adhesives Market Forecasts and Analysis
10.4.3 Middle East and Africa Acrylic Adhesives Market Forecasts and Analysis - By Technology
10.4.4 Middle East and Africa Acrylic Adhesives Market Forecasts and Analysis - By Type
10.4.5 Middle East and Africa Acrylic Adhesives Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Acrylic Adhesives Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Acrylic Adhesives Market
10.4.6.1.1 South Africa Acrylic Adhesives Market by Technology
10.4.6.1.2 South Africa Acrylic Adhesives Market by Type
10.4.6.1.3 South Africa Acrylic Adhesives Market by Application
10.4.6.2 Saudi Arabia Acrylic Adhesives Market
10.4.6.2.1 Saudi Arabia Acrylic Adhesives Market by Technology
10.4.6.2.2 Saudi Arabia Acrylic Adhesives Market by Type
10.4.6.2.3 Saudi Arabia Acrylic Adhesives Market by Application
10.4.6.3 U.A.E Acrylic Adhesives Market
10.4.6.3.1 U.A.E Acrylic Adhesives Market by Technology
10.4.6.3.2 U.A.E Acrylic Adhesives Market by Type
10.4.6.3.3 U.A.E Acrylic Adhesives Market by Application
10.4.6.4 Rest of Middle East and Africa Acrylic Adhesives Market
10.4.6.4.1 Rest of Middle East and Africa Acrylic Adhesives Market by Technology
10.4.6.4.2 Rest of Middle East and Africa Acrylic Adhesives Market by Type
10.4.6.4.3 Rest of Middle East and Africa Acrylic Adhesives Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Acrylic Adhesives Market Overview
10.5.2 South and Central America Acrylic Adhesives Market Forecasts and Analysis
10.5.3 South and Central America Acrylic Adhesives Market Forecasts and Analysis - By Technology
10.5.4 South and Central America Acrylic Adhesives Market Forecasts and Analysis - By Type
10.5.5 South and Central America Acrylic Adhesives Market Forecasts and Analysis - By Application
10.5.6 South and Central America Acrylic Adhesives Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Acrylic Adhesives Market
10.5.6.1.1 Brazil Acrylic Adhesives Market by Technology
10.5.6.1.2 Brazil Acrylic Adhesives Market by Type
10.5.6.1.3 Brazil Acrylic Adhesives Market by Application
10.5.6.2 Argentina Acrylic Adhesives Market
10.5.6.2.1 Argentina Acrylic Adhesives Market by Technology
10.5.6.2.2 Argentina Acrylic Adhesives Market by Type
10.5.6.2.3 Argentina Acrylic Adhesives Market by Application
10.5.6.3 Rest of South and Central America Acrylic Adhesives Market
10.5.6.3.1 Rest of South and Central America Acrylic Adhesives Market by Technology
10.5.6.3.2 Rest of South and Central America Acrylic Adhesives Market by Type
10.5.6.3.3 Rest of South and Central America Acrylic Adhesives Market by Application
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOINT VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. ACRYLIC ADHESIVES MARKET, KEY COMPANY PROFILES
12.1. 3M
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. AVERY DENNISON CORPORATION
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. BOSTIK
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. H B FULLER COMPANY
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. HENKEL AG & CO KGAA
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. HUNTSMAN INTERNATIONAL LLC
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. ILLINOIS TOOL WORKS INC
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. PIDILITE INDUSTRIES LTD
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. SIKA AG
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. TOAGOSEI CO LTD
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. 3M
2. AVERY DENNISON CORPORATION
3. Bostik
4. H B Fuller Company
5. Henkel AG & Co KGaA
6. Huntsman International LLC
7. Illinois Tool Works Inc
8. Pidilite Industries Ltd
9. Sika AG
10. TOAGOSEI CO LTD
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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