The Acrylic Resin Market is expected to register a CAGR of 5% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The acrylic resins market report is segmented by chemistry (acrylates, methacrylates, and others). The market is segmented based on the type (solvent-based, water-based, and others). The market is segmented based on the end-use industry (building and construction, industrial, paper and paperboard, consumer goods, electronics, packaging, 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 Resin 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 Resin Market Segmentation
Chemistry- Acrylates
- Methacrylates
- Solvent-Based
- Water-Based
- Building and Construction
- Industrial
- Paper and Paperboard
- Consumer Goods
- Electronics
- Packaging
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Acrylic Resin Market Growth Drivers- Rising Demand for Acrylic Resins: The acrylic resins are widely used in the fabrication of coatings owing to their superior durability, resistance to UV rays and gloss maintenance. In particular, the construction and automobile sectors are the key markets for acrylic coatings as these coatings exhibit very high performance range for outdoor applications. As construction activities rise around the world and car makers look for perfect surfaces, there will be significant change towards the demand for acrylic resins.
- Shift Towards Sustainable Acrylic Resins: Several sectors are becoming increasingly sustainable, which translates to a higher need for sustainable raw materials. As a result, acrylic resins, in particular water-based formulations, are taking center stage in place of solvent-based systems due to their lower VOC content. This change not only meets the legal standards and customer tendencies that prefer green products, but it also encourages the growth of the industry.
- Versatile Applications of Acrylic Resins: Acrylic resins have a potential range of applications both in the industry and in daily activities, including adhesives and sealants, paints, plastic, and others. They are weather-resistant, and resistant to chemicals.
- Increasing Demand from Environmental-Friendly Solutions: The pressure of sustainability is prompting more and more industries towards sustainable solutions. Low VOCs and water-based acrylic resins are gaining significance compared to solvent-based variants in the construction, automobile, and paints and coatings segments, which are driven not just by regulatory pressures and consumers' preference for environment-friendly solutions.
- Advancements in Technology: Continuous innovation in polymer chemistry and processing technologies continues to improve the performance of acrylic resins. New developments in adhesive, flexibility, and durability properties open up opportunities to cater to niche markets, such as medical coatings, electronics, and high-performance automotive applications.
- Expanding application in emerging markets: Asia-Pacific, Latin America, and Africa, with fast industrialization and urbanization, create large demand for acrylic resins in the construction, automotive, and coatings sectors. Companies can take advantage of the early entry into such markets as demand for quality, low-cost materials rises.
- Growth in Emerging Markets: Growth and active developments in the APAC, LATAM, and African regions augment the process of industrialization and urbanization. This is highly favorable for acrylic resin manufacturers as it provides them with new markets. With more infrastructure projects and increased consumer expenditure, there will be a corresponding increase in the demand for quality coatings, adhesives and other applications aspects, thereby creating an opportunity for new entrants and expansion of the current players in the market.
- Collaborative Innovation in Acrylic Resins: Joint actions of acrylic resin producers with end-user industries generally encourage opportunities for innovation and product development. It allows manufacturers to adjust their resins to the automotive, construction, consumer goods, and other sectors of interest, thus increasing the characteristics and performance of materials, as well as their functional purposes. This joint activity may give rise to a new generation of products which will be different from and more advanced than those offered at present.
- Sustainability-Driven Innovation in Acrylic Resins: The global trends toward sustainability give acrylic resin manufacturers the chance to develop recycling processes. For example, companies may develop ways to create acrylic resin from waste resin. This creates a positive customer perception of the brand, and it also targets green customers, making these companies more competitive on sustainability issues.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Acrylic Resin 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 Resin 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
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Increased focus on sustainable products is expected to be the key market trends.
Based on geography, Asia Pacific held the largest share of the acrylic resins market due to its rapidly growing building and construction industry.
Based on type, the water-based segment is expected to witness the fastest growth during the forecast period
BASF SE, ARKEMA, DOW, Mitsubishi Chemical Holdings Corporation, Mitsui Chemicals Europe GmbH, DSM, DIC CORPORATION, Sumitomo Chemical Co Ltd, NIPPON SHOKUBAI EUROPE N.V., and Helios Group are the key players operating in the acrylic resins market.
Increasing demand from the coatings industry is driving the market growth.
The Acrylic Resin Market is estimated to witness a CAGR of 5% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Acrylic Resin Market - By Type
1.3.2Acrylic Resin Market - By Property
1.3.3Acrylic Resin Market - By Application
1.3.4Acrylic Resin Market - By Region
1.3.4.1By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4.ACRYLIC RESIN MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PORTER'S FIVE FORCES ANALYSIS
4.2.1Bargaining Power of Buyers
4.2.1Bargaining Power of Suppliers
4.2.1Threat of Substitute
4.2.1Threat of New Entrants
4.2.1Competitive Rivalry
4.3.EXPERT OPINIONS
5.ACRYLIC RESIN 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 AND RESTRAINTS
6.ACRYLIC RESIN MARKET - GLOBAL MARKET ANALYSIS
6.1.ACRYLIC RESIN - GLOBAL MARKET OVERVIEW
6.2.ACRYLIC RESIN - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.ACRYLIC RESIN MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1.OVERVIEW
7.2.TYPE MARKET FORECASTS AND ANALYSIS
7.3.METHACRYLATES
7.3.1.Overview
7.3.2.Methacrylates Market Forecast and Analysis
7.4.ACRYLATES
7.4.1.Overview
7.4.2.Acrylates Market Forecast and Analysis
7.5.HYBRIDS
7.5.1.Overview
7.5.2.Hybrids Market Forecast and Analysis
8.ACRYLIC RESIN MARKET - REVENUE AND FORECASTS TO 2028 - PROPERTY
8.1.OVERVIEW
8.2.PROPERTY MARKET FORECASTS AND ANALYSIS
8.3.THERMOPLASTIC
8.3.1.Overview
8.3.2.Thermoplastic Market Forecast and Analysis
8.4.THERMOSETTING
8.4.1.Overview
8.4.2.Thermosetting Market Forecast and Analysis
9.ACRYLIC RESIN MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1.OVERVIEW
9.2.APPLICATION MARKET FORECASTS AND ANALYSIS
9.3.PAINTS AND COATINGS
9.3.1.Overview
9.3.2.Paints and Coatings Market Forecast and Analysis
9.4.CONSTRUCTION
9.4.1.Overview
9.4.2.Construction Market Forecast and Analysis
9.5.INDUSTRIAL AND COMMERCIAL
9.5.1.Overview
9.5.2.Industrial and Commercial Market Forecast and Analysis
9.6.PAPER AND PAPERBOARD
9.6.1.Overview
9.6.2.Paper and Paperboard Market Forecast and Analysis
9.7.TEXTILES AND FIBERS AND ADHESIVES
9.7.1.Overview
9.7.2.Textiles and Fibers and Adhesives Market Forecast and Analysis
9.8.OTHERS
9.8.1.Overview
9.8.2.Others Market Forecast and Analysis
10.ACRYLIC RESIN MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America Acrylic Resin Market Overview
10.1.2North America Acrylic Resin Market Forecasts and Analysis
10.1.3North America Acrylic Resin Market Forecasts and Analysis - By Type
10.1.4North America Acrylic Resin Market Forecasts and Analysis - By Property
10.1.5North America Acrylic Resin Market Forecasts and Analysis - By Application
10.1.6North America Acrylic Resin Market Forecasts and Analysis - By Countries
10.1.6.1United States Acrylic Resin Market
10.1.6.1.1United States Acrylic Resin Market by Type
10.1.6.1.2United States Acrylic Resin Market by Property
10.1.6.1.3United States Acrylic Resin Market by Application
10.1.6.2Canada Acrylic Resin Market
10.1.6.2.1Canada Acrylic Resin Market by Type
10.1.6.2.2Canada Acrylic Resin Market by Property
10.1.6.2.3Canada Acrylic Resin Market by Application
10.1.6.3Mexico Acrylic Resin Market
10.1.6.3.1Mexico Acrylic Resin Market by Type
10.1.6.3.2Mexico Acrylic Resin Market by Property
10.1.6.3.3Mexico Acrylic Resin Market by Application
10.2.EUROPE
10.2.1Europe Acrylic Resin Market Overview
10.2.2Europe Acrylic Resin Market Forecasts and Analysis
10.2.3Europe Acrylic Resin Market Forecasts and Analysis - By Type
10.2.4Europe Acrylic Resin Market Forecasts and Analysis - By Property
10.2.5Europe Acrylic Resin Market Forecasts and Analysis - By Application
10.2.6Europe Acrylic Resin Market Forecasts and Analysis - By Countries
10.2.6.1Germany Acrylic Resin Market
10.2.6.1.1Germany Acrylic Resin Market by Type
10.2.6.1.2Germany Acrylic Resin Market by Property
10.2.6.1.3Germany Acrylic Resin Market by Application
10.2.6.2France Acrylic Resin Market
10.2.6.2.1France Acrylic Resin Market by Type
10.2.6.2.2France Acrylic Resin Market by Property
10.2.6.2.3France Acrylic Resin Market by Application
10.2.6.3Italy Acrylic Resin Market
10.2.6.3.1Italy Acrylic Resin Market by Type
10.2.6.3.2Italy Acrylic Resin Market by Property
10.2.6.3.3Italy Acrylic Resin Market by Application
10.2.6.4United Kingdom Acrylic Resin Market
10.2.6.4.1United Kingdom Acrylic Resin Market by Type
10.2.6.4.2United Kingdom Acrylic Resin Market by Property
10.2.6.4.3United Kingdom Acrylic Resin Market by Application
10.2.6.5Russia Acrylic Resin Market
10.2.6.5.1Russia Acrylic Resin Market by Type
10.2.6.5.2Russia Acrylic Resin Market by Property
10.2.6.5.3Russia Acrylic Resin Market by Application
10.2.6.6Rest of Europe Acrylic Resin Market
10.2.6.6.1Rest of Europe Acrylic Resin Market by Type
10.2.6.6.2Rest of Europe Acrylic Resin Market by Property
10.2.6.6.3Rest of Europe Acrylic Resin Market by Application
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific Acrylic Resin Market Overview
10.3.2Asia-Pacific Acrylic Resin Market Forecasts and Analysis
10.3.3Asia-Pacific Acrylic Resin Market Forecasts and Analysis - By Type
10.3.4Asia-Pacific Acrylic Resin Market Forecasts and Analysis - By Property
10.3.5Asia-Pacific Acrylic Resin Market Forecasts and Analysis - By Application
10.3.6Asia-Pacific Acrylic Resin Market Forecasts and Analysis - By Countries
10.3.6.1Australia Acrylic Resin Market
10.3.6.1.1Australia Acrylic Resin Market by Type
10.3.6.1.2Australia Acrylic Resin Market by Property
10.3.6.1.3Australia Acrylic Resin Market by Application
10.3.6.2China Acrylic Resin Market
10.3.6.2.1China Acrylic Resin Market by Type
10.3.6.2.2China Acrylic Resin Market by Property
10.3.6.2.3China Acrylic Resin Market by Application
10.3.6.3India Acrylic Resin Market
10.3.6.3.1India Acrylic Resin Market by Type
10.3.6.3.2India Acrylic Resin Market by Property
10.3.6.3.3India Acrylic Resin Market by Application
10.3.6.4Japan Acrylic Resin Market
10.3.6.4.1Japan Acrylic Resin Market by Type
10.3.6.4.2Japan Acrylic Resin Market by Property
10.3.6.4.3Japan Acrylic Resin Market by Application
10.3.6.5South Korea Acrylic Resin Market
10.3.6.5.1South Korea Acrylic Resin Market by Type
10.3.6.5.2South Korea Acrylic Resin Market by Property
10.3.6.5.3South Korea Acrylic Resin Market by Application
10.3.6.6Rest of Asia-Pacific Acrylic Resin Market
10.3.6.6.1Rest of Asia-Pacific Acrylic Resin Market by Type
10.3.6.6.2Rest of Asia-Pacific Acrylic Resin Market by Property
10.3.6.6.3Rest of Asia-Pacific Acrylic Resin Market by Application
10.4.MIDDLE EAST AND AFRICA
10.4.1Middle East and Africa Acrylic Resin Market Overview
10.4.2Middle East and Africa Acrylic Resin Market Forecasts and Analysis
10.4.3Middle East and Africa Acrylic Resin Market Forecasts and Analysis - By Type
10.4.4Middle East and Africa Acrylic Resin Market Forecasts and Analysis - By Property
10.4.5Middle East and Africa Acrylic Resin Market Forecasts and Analysis - By Application
10.4.6Middle East and Africa Acrylic Resin Market Forecasts and Analysis - By Countries
10.4.6.1South Africa Acrylic Resin Market
10.4.6.1.1South Africa Acrylic Resin Market by Type
10.4.6.1.2South Africa Acrylic Resin Market by Property
10.4.6.1.3South Africa Acrylic Resin Market by Application
10.4.6.2Saudi Arabia Acrylic Resin Market
10.4.6.2.1Saudi Arabia Acrylic Resin Market by Type
10.4.6.2.2Saudi Arabia Acrylic Resin Market by Property
10.4.6.2.3Saudi Arabia Acrylic Resin Market by Application
10.4.6.3U.A.E Acrylic Resin Market
10.4.6.3.1U.A.E Acrylic Resin Market by Type
10.4.6.3.2U.A.E Acrylic Resin Market by Property
10.4.6.3.3U.A.E Acrylic Resin Market by Application
10.4.6.4Rest of Middle East and Africa Acrylic Resin Market
10.4.6.4.1Rest of Middle East and Africa Acrylic Resin Market by Type
10.4.6.4.2Rest of Middle East and Africa Acrylic Resin Market by Property
10.4.6.4.3Rest of Middle East and Africa Acrylic Resin Market by Application
10.5.SOUTH AND CENTRAL AMERICA
10.5.1South and Central America Acrylic Resin Market Overview
10.5.2South and Central America Acrylic Resin Market Forecasts and Analysis
10.5.3South and Central America Acrylic Resin Market Forecasts and Analysis - By Type
10.5.4South and Central America Acrylic Resin Market Forecasts and Analysis - By Property
10.5.5South and Central America Acrylic Resin Market Forecasts and Analysis - By Application
10.5.6South and Central America Acrylic Resin Market Forecasts and Analysis - By Countries
10.5.6.1Brazil Acrylic Resin Market
10.5.6.1.1Brazil Acrylic Resin Market by Type
10.5.6.1.2Brazil Acrylic Resin Market by Property
10.5.6.1.3Brazil Acrylic Resin Market by Application
10.5.6.2Argentina Acrylic Resin Market
10.5.6.2.1Argentina Acrylic Resin Market by Type
10.5.6.2.2Argentina Acrylic Resin Market by Property
10.5.6.2.3Argentina Acrylic Resin Market by Application
10.5.6.3Rest of South and Central America Acrylic Resin Market
10.5.6.3.1Rest of South and Central America Acrylic Resin Market by Type
10.5.6.3.2Rest of South and Central America Acrylic Resin Market by Property
10.5.6.3.3Rest of South and Central America Acrylic Resin Market by Application
11.INDUSTRY LANDSCAPE
11.1.MERGERS AND ACQUISITIONS
11.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3.NEW PRODUCT LAUNCHES
11.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12.ACRYLIC RESIN MARKET, KEY COMPANY PROFILES
12.1.AIR PRODUCTS AND CHEMICALS, INC.
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.ARKEMA S.A.
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.BASF SE
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.DIC CORPORATION
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.DOW CHEMICAL CO.
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.FORMOSA PLASTICS CORPORATION
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.HITACHI CHEMICAL CO., LTD.
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.MITSUBISHI CHEMICAL HOLDINGS CORPORATION
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.MOMENTIVE SPECIALTY CHEMICALS INC.
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.NIPPON SHOKUBAI 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. Air Products and Chemicals, Inc.
2. Arkema S.A.
3. BASF SE
4. Dic Corporation
5. Dow Chemical Co.
6. Formosa Plastics Corporation
7. Hitachi Chemical Co., Ltd.
8. Mitsubishi Chemical Holdings Corporation
9. Momentive Specialty Chemicals Inc.
10. Nippon Shokubai 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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