The Automotive Refinish Coating 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 report is segmented by Resin (Polyurethane, Alkyd, Acrylic, Epoxy, and Others). The report further presents analysis based on, Technology (Solvent-borne, Water-borne, and UV-Cured). Based on product type report is segmented into (Clearcoat, Primer, Activator, and Others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Automotive Refinish Coating 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.
Automotive Refinish Coating Market Segmentation
Resin- Polyurethane
- Alkyd
- Acrylic
- Epoxy
- Solvent-borne
- Water-borne
- UV-Cured
- Clearcoat
- Primer
- Activator
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Automotive Refinish Coating Market Growth Drivers- Increasing Demand for Vehicle Customization: The increasing interest in car modification has a noticeable effect on the market for automotive refinish coatings. Many consumers do not settle for a production vehicle and that has changed the landscape towards the use of special coatings. That is why it also motivates manufacturers to develop and provide a variety of colors, finishes and textures for the owners of automobiles.
- Improved Durability and Aesthetic Appeal Drives Growth in Automotive Coatings: In addition, there are more cars owned and more people want better quality finishes which helps this market as well. With people becoming car owners, the use of refractorized coatings becomes impossible. Decor is part and parcel of enhancement but improvement insistent on shielding owners from inferior coatings which in turn enhance durability and longevity of vehicles, is supported.
- Water-Based and Eco-Friendly Solutions Expand Market: Improvements in the technologies of coatings have also made it possible to come up with more elaborate and attractive designs. The use of water-based and green materials has continued to grow as a result of the changing times. This development enables the users to decorate their cars while at the same time protecting the environment, widening the market and enabling growth.
- Shift Towards Waterborne and Low-VOC Coatings: The shift towards water-borne and low-VOC coatings is one of the most important trends expected to design a great future of the automotive refinish coating market. With the tightening of environmental regulations, manufacturers are also making more and more efforts to these green alternatives. Waterborne coatings help to avoid harmful emissions, which is attractive both for the regulators and the customers who choose to maintain the cars in a more eco-friendly way.
- Waterborne and Low-VOC Coatings Propel Growth Amid Tightening Regulations: Low VOC coatings, besides being regulatory compliant have performance advantages. These materials have great bonding capabilities, last long, and hold their colors well making them a good choice for refinishing. As the automotive industry technology grows so do the types of coatings that provide perfect finishing whilst being environmentally friendly which both professional painters and amateurs can easily operate.
- The Future of Automotive Refinish Coatings: They are also a factor in this growth. There is a heightened awareness among buyers about the harmfulness of conventional coatings based on solvents, and thus a shift toward more eco-friendly options. Waterborne technologies are being actively introduced and developed by manufacturers to satisfy this green demand and to reach indusry’s newer and high expectations of sustainable developments.
- Advancement in Technologies: The high acceptance of sophisticated computerized color matching systems is greatly increasing the growth scope of the automotive refinishing coating market. These systems aid accurate color matching so that the refinished portions ca blend with the existing paint work of that vehicle. This is very important in such cases where the aesthetics matter, most especially to individuals who would want to have them restored to their original beauty.
- Advanced Color Matching Systems Fuel Automotive Refinish Market: As vehicle personalization grows in popularity, the most accurate color-matching systems are needed. Consumers want results with no room for error which makes it incumbent of the refinishing experts to purchase advanced color matching machines to ensure appropriate colors are reproduced. This is a positive situation for the business as it not only enhances satisfaction of the customers but also generates more income from the customers through their repetition and referrals thus expanding the market.
- Consumer Demand and Tech Innovation Enhance Automotive Refinish Efficiency: In addition, new technologies grow the speed and ease of doing tasks. Thanks to color mixing software and spectrophotometers, even inexperienced craftsmen can mix the right colors within a tight deadline and with little effort, as long as the color design is already complete and lay-outed. Such solutions are in demand for bodyshops who wish to increase their working output in the face of increased demand in the market.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Automotive Refinish Coating 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 Automotive Refinish Coating 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
#Shift Towards Waterborne and Low-VOC Coatings is expected to be the key market trends.
Based on geography, Asia Pacific held the largest share of the automotive refinish coating market.
KCC Corporation, BASF SE, and Mitsui Chemicals, Inc.are some of the key players operating in the automotive refinish coating market
Based on resin, acrylic is expected to witness the fastest growth during the forecast period
The Automotive Refinish Coating Market is estimated to witness a CAGR of 5% from 2023 to 2031
Increasing Demand for Vehicle Customization is driving the market growth
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Automotive Refinish Coatings Market - By Resin
1.3.2 Automotive Refinish Coatings Market - By Technology
1.3.3 Automotive Refinish Coatings Market - By Product Type
1.3.4 Automotive Refinish Coatings Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AUTOMOTIVE REFINISH COATINGS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. AUTOMOTIVE REFINISH COATINGS 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. AUTOMOTIVE REFINISH COATINGS MARKET - GLOBAL MARKET ANALYSIS
6.1. AUTOMOTIVE REFINISH COATINGS - GLOBAL MARKET OVERVIEW
6.2. AUTOMOTIVE REFINISH COATINGS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. AUTOMOTIVE REFINISH COATINGS MARKET - REVENUE AND FORECASTS TO 2028 - RESIN
7.1. OVERVIEW
7.2. RESIN MARKET FORECASTS AND ANALYSIS
7.3. POLYURETHANE
7.3.1. Overview
7.3.2. Polyurethane Market Forecast and Analysis
7.4. ALKYD
7.4.1. Overview
7.4.2. Alkyd Market Forecast and Analysis
7.5. ACRYLIC
7.5.1. Overview
7.5.2. Acrylic Market Forecast and Analysis
7.6. EPOXY
7.6.1. Overview
7.6.2. Epoxy Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. AUTOMOTIVE REFINISH COATINGS MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
8.1. OVERVIEW
8.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
8.3. SOLVENT-BORNE
8.3.1. Overview
8.3.2. Solvent-borne Market Forecast and Analysis
8.4. WATER-BORNE
8.4.1. Overview
8.4.2. Water-borne Market Forecast and Analysis
8.5. UV-CURED
8.5.1. Overview
8.5.2. UV-Cured Market Forecast and Analysis
9. AUTOMOTIVE REFINISH COATINGS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
9.1. OVERVIEW
9.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
9.3. CLEARCOAT
9.3.1. Overview
9.3.2. Clearcoat Market Forecast and Analysis
9.4. PRIMER
9.4.1. Overview
9.4.2. Primer Market Forecast and Analysis
9.5. ACTIVATOR
9.5.1. Overview
9.5.2. Activator Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. AUTOMOTIVE REFINISH COATINGS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Automotive Refinish Coatings Market Overview
10.1.2 North America Automotive Refinish Coatings Market Forecasts and Analysis
10.1.3 North America Automotive Refinish Coatings Market Forecasts and Analysis - By Resin
10.1.4 North America Automotive Refinish Coatings Market Forecasts and Analysis - By Technology
10.1.5 North America Automotive Refinish Coatings Market Forecasts and Analysis - By Product Type
10.1.6 North America Automotive Refinish Coatings Market Forecasts and Analysis - By Countries
10.1.6.1 United States Automotive Refinish Coatings Market
10.1.6.1.1 United States Automotive Refinish Coatings Market by Resin
10.1.6.1.2 United States Automotive Refinish Coatings Market by Technology
10.1.6.1.3 United States Automotive Refinish Coatings Market by Product Type
10.1.6.2 Canada Automotive Refinish Coatings Market
10.1.6.2.1 Canada Automotive Refinish Coatings Market by Resin
10.1.6.2.2 Canada Automotive Refinish Coatings Market by Technology
10.1.6.2.3 Canada Automotive Refinish Coatings Market by Product Type
10.1.6.3 Mexico Automotive Refinish Coatings Market
10.1.6.3.1 Mexico Automotive Refinish Coatings Market by Resin
10.1.6.3.2 Mexico Automotive Refinish Coatings Market by Technology
10.1.6.3.3 Mexico Automotive Refinish Coatings Market by Product Type
10.2. EUROPE
10.2.1 Europe Automotive Refinish Coatings Market Overview
10.2.2 Europe Automotive Refinish Coatings Market Forecasts and Analysis
10.2.3 Europe Automotive Refinish Coatings Market Forecasts and Analysis - By Resin
10.2.4 Europe Automotive Refinish Coatings Market Forecasts and Analysis - By Technology
10.2.5 Europe Automotive Refinish Coatings Market Forecasts and Analysis - By Product Type
10.2.6 Europe Automotive Refinish Coatings Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Automotive Refinish Coatings Market
10.2.6.1.1 Germany Automotive Refinish Coatings Market by Resin
10.2.6.1.2 Germany Automotive Refinish Coatings Market by Technology
10.2.6.1.3 Germany Automotive Refinish Coatings Market by Product Type
10.2.6.2 France Automotive Refinish Coatings Market
10.2.6.2.1 France Automotive Refinish Coatings Market by Resin
10.2.6.2.2 France Automotive Refinish Coatings Market by Technology
10.2.6.2.3 France Automotive Refinish Coatings Market by Product Type
10.2.6.3 Italy Automotive Refinish Coatings Market
10.2.6.3.1 Italy Automotive Refinish Coatings Market by Resin
10.2.6.3.2 Italy Automotive Refinish Coatings Market by Technology
10.2.6.3.3 Italy Automotive Refinish Coatings Market by Product Type
10.2.6.4 United Kingdom Automotive Refinish Coatings Market
10.2.6.4.1 United Kingdom Automotive Refinish Coatings Market by Resin
10.2.6.4.2 United Kingdom Automotive Refinish Coatings Market by Technology
10.2.6.4.3 United Kingdom Automotive Refinish Coatings Market by Product Type
10.2.6.5 Russia Automotive Refinish Coatings Market
10.2.6.5.1 Russia Automotive Refinish Coatings Market by Resin
10.2.6.5.2 Russia Automotive Refinish Coatings Market by Technology
10.2.6.5.3 Russia Automotive Refinish Coatings Market by Product Type
10.2.6.6 Rest of Europe Automotive Refinish Coatings Market
10.2.6.6.1 Rest of Europe Automotive Refinish Coatings Market by Resin
10.2.6.6.2 Rest of Europe Automotive Refinish Coatings Market by Technology
10.2.6.6.3 Rest of Europe Automotive Refinish Coatings Market by Product Type
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Automotive Refinish Coatings Market Overview
10.3.2 Asia-Pacific Automotive Refinish Coatings Market Forecasts and Analysis
10.3.3 Asia-Pacific Automotive Refinish Coatings Market Forecasts and Analysis - By Resin
10.3.4 Asia-Pacific Automotive Refinish Coatings Market Forecasts and Analysis - By Technology
10.3.5 Asia-Pacific Automotive Refinish Coatings Market Forecasts and Analysis - By Product Type
10.3.6 Asia-Pacific Automotive Refinish Coatings Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Automotive Refinish Coatings Market
10.3.6.1.1 Australia Automotive Refinish Coatings Market by Resin
10.3.6.1.2 Australia Automotive Refinish Coatings Market by Technology
10.3.6.1.3 Australia Automotive Refinish Coatings Market by Product Type
10.3.6.2 China Automotive Refinish Coatings Market
10.3.6.2.1 China Automotive Refinish Coatings Market by Resin
10.3.6.2.2 China Automotive Refinish Coatings Market by Technology
10.3.6.2.3 China Automotive Refinish Coatings Market by Product Type
10.3.6.3 India Automotive Refinish Coatings Market
10.3.6.3.1 India Automotive Refinish Coatings Market by Resin
10.3.6.3.2 India Automotive Refinish Coatings Market by Technology
10.3.6.3.3 India Automotive Refinish Coatings Market by Product Type
10.3.6.4 Japan Automotive Refinish Coatings Market
10.3.6.4.1 Japan Automotive Refinish Coatings Market by Resin
10.3.6.4.2 Japan Automotive Refinish Coatings Market by Technology
10.3.6.4.3 Japan Automotive Refinish Coatings Market by Product Type
10.3.6.5 South Korea Automotive Refinish Coatings Market
10.3.6.5.1 South Korea Automotive Refinish Coatings Market by Resin
10.3.6.5.2 South Korea Automotive Refinish Coatings Market by Technology
10.3.6.5.3 South Korea Automotive Refinish Coatings Market by Product Type
10.3.6.6 Rest of Asia-Pacific Automotive Refinish Coatings Market
10.3.6.6.1 Rest of Asia-Pacific Automotive Refinish Coatings Market by Resin
10.3.6.6.2 Rest of Asia-Pacific Automotive Refinish Coatings Market by Technology
10.3.6.6.3 Rest of Asia-Pacific Automotive Refinish Coatings Market by Product Type
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Automotive Refinish Coatings Market Overview
10.4.2 Middle East and Africa Automotive Refinish Coatings Market Forecasts and Analysis
10.4.3 Middle East and Africa Automotive Refinish Coatings Market Forecasts and Analysis - By Resin
10.4.4 Middle East and Africa Automotive Refinish Coatings Market Forecasts and Analysis - By Technology
10.4.5 Middle East and Africa Automotive Refinish Coatings Market Forecasts and Analysis - By Product Type
10.4.6 Middle East and Africa Automotive Refinish Coatings Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Automotive Refinish Coatings Market
10.4.6.1.1 South Africa Automotive Refinish Coatings Market by Resin
10.4.6.1.2 South Africa Automotive Refinish Coatings Market by Technology
10.4.6.1.3 South Africa Automotive Refinish Coatings Market by Product Type
10.4.6.2 Saudi Arabia Automotive Refinish Coatings Market
10.4.6.2.1 Saudi Arabia Automotive Refinish Coatings Market by Resin
10.4.6.2.2 Saudi Arabia Automotive Refinish Coatings Market by Technology
10.4.6.2.3 Saudi Arabia Automotive Refinish Coatings Market by Product Type
10.4.6.3 U.A.E Automotive Refinish Coatings Market
10.4.6.3.1 U.A.E Automotive Refinish Coatings Market by Resin
10.4.6.3.2 U.A.E Automotive Refinish Coatings Market by Technology
10.4.6.3.3 U.A.E Automotive Refinish Coatings Market by Product Type
10.4.6.4 Rest of Middle East and Africa Automotive Refinish Coatings Market
10.4.6.4.1 Rest of Middle East and Africa Automotive Refinish Coatings Market by Resin
10.4.6.4.2 Rest of Middle East and Africa Automotive Refinish Coatings Market by Technology
10.4.6.4.3 Rest of Middle East and Africa Automotive Refinish Coatings Market by Product Type
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Automotive Refinish Coatings Market Overview
10.5.2 South and Central America Automotive Refinish Coatings Market Forecasts and Analysis
10.5.3 South and Central America Automotive Refinish Coatings Market Forecasts and Analysis - By Resin
10.5.4 South and Central America Automotive Refinish Coatings Market Forecasts and Analysis - By Technology
10.5.5 South and Central America Automotive Refinish Coatings Market Forecasts and Analysis - By Product Type
10.5.6 South and Central America Automotive Refinish Coatings Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Automotive Refinish Coatings Market
10.5.6.1.1 Brazil Automotive Refinish Coatings Market by Resin
10.5.6.1.2 Brazil Automotive Refinish Coatings Market by Technology
10.5.6.1.3 Brazil Automotive Refinish Coatings Market by Product Type
10.5.6.2 Argentina Automotive Refinish Coatings Market
10.5.6.2.1 Argentina Automotive Refinish Coatings Market by Resin
10.5.6.2.2 Argentina Automotive Refinish Coatings Market by Technology
10.5.6.2.3 Argentina Automotive Refinish Coatings Market by Product Type
10.5.6.3 Rest of South and Central America Automotive Refinish Coatings Market
10.5.6.3.1 Rest of South and Central America Automotive Refinish Coatings Market by Resin
10.5.6.3.2 Rest of South and Central America Automotive Refinish Coatings Market by Technology
10.5.6.3.3 Rest of South and Central America Automotive Refinish Coatings Market by Product Type
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. AUTOMOTIVE REFINISH COATINGS MARKET, KEY COMPANY PROFILES
12.1. KCC CORPORATION
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. BASF SE
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. MITSUI CHEMICALS, INC.
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. PPG INDUSTRIES, INC.
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. NIPPON PAINT (INDIA) PRIVATE LIMITED.
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. KAPCI COATINGS
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. THE VALSPAR CORPORATION.
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. THE SHERWIN-WILLIAMS COMPANY
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. 3M
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. AKZO NOBEL N.V
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. KCC Corporation
2. BASF SE
3. Mitsui Chemicals, Inc.
4. PPG Industries, Inc.
5. Nippon Paint (India) Private Limited.
6. KAPCI Coatings
7. The Valspar Corporation.
8. The Sherwin-Williams Company
9. 3M
10. Akzo Nobel N.V
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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