The Battery Materials Market is expected to register a CAGR of 15% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report presents analysis based on material (anode, cathode, electrolyte, binders, coatings, and others). The report is segmented by application (primary batteries and secondary batteries). The report is segmented by end user (transportation, consumer electronics, and industrial). The global analysis is further broken-down at 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 and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report Battery Materials 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.
Battery Materials Market Segmentation
Material- Anode
- Cathode
- Electrolyte
- Binders
- Coatings
- Primary Batteries and Secondary Batteries
Strategic Insights
Battery Materials Market Growth Drivers- Rising Demand for EVs Driving Battery Materials Market Growth: One of the determining factors attributable to the increasing battery materials market is the rising need for electrical vehicles (EVs). In this case, consumer's and manufacturers' focus on green transportation has seen more demand for rechargeable and lightweight batteries. Such a transition compels companies to upgrade their technologies and increase the output of the essential elements including lithium, cobalt and nickel.
- Technological Advancements in Battery Materials and Solid-State Batteries: Battery technology and its associated improvements, in this case, solid-state battery applications, are also pushing the market towards that direction. These developments require new materials and formulations, hence more research and development. Given that automotive battery performance and range are a priority for car manufacturers, this has resulted in a growing market for materials that can enable such developments.
- Government Support Boosting EV Adoption and Battery Materials Demand: In addition to the aforementioned factors, growing government efforts and subsidies to boost the rate of adoption of EVs are also contributing to the growth of the market. Measures to decrease their carbon footprint and promote the use of clean energy sources are making electric cars more appealing. For this reason, as more people embrace the use of EVs, the available battery materials per capita would be expected to increase profitably, leading manufacturers to increase outputs or look for new suppliers.
- Advancements in Battery Materials Enhancing EV and Device Performance: The advancement of novel battery materials is commensurate with the advancements in lithium-ion battery chemistries and their further uses. High nickel cathodes and silicon anodes are new developments enabling greater energy density and faster charging. Those advancement features allow the users of electric vehicles (EVs) and the consumers of hand-held gadgets to travel longer distances before the gadgets require charging and with very little downtime of the gadgets between chargers, making the products more competitive within the market.
- Solid Electrolytes and Safety Innovations in Battery Designs: Another branch of research considers various substrates, for instance, batteries with solid electrolytes which provide more safety and efficiency. Such novel designs also aim at solving some of the issues related to lithium-ion batteries, including the danger of thermal runaway. In light of improving safety towards the new materials rather than just depending on performance factors, the change in the introduction of such materials in this sector is bound to affect how business is done in the present day.
- Sustainability Driving Eco-Friendly Innovations in Battery Chemistries: The increasing emphasis on sustainability is also driving the development of eco-friendly battery chemistries. There are innovations that cut down the use of scarce metals and facilitate recycling in conformity with environmental concerns. Such investments tend to be very critical for the future growth of the battery industry, given the emerging trends where consumers are more interested in eco-friendly technologies.
- Expanding Manufacturing Capacities Boosting Battery Materials Market: The growth in manufacturing capacities of batteries offers remarkable growth potential for the battery materials market. Due to the increase in electric vehicles (EVs) and renewable energy storage systems, manufacturers have grown their production in order to comply with this requirement. Growth in capacity also facilitates the procurement of higher volumes of some of the raw materials critical to the market's expansion.
- Technological Advancements Enhancing Production Efficiency: Besides that, technological improvements related to the production process are increasing the production rate. Some of these include the use of automation and simpler processes which help cut costs and enhance the quality of what has been produced. Such technologies are going to be adopted by most manufacturers, and consequently, the materials needed for the batteries will have to be better in performance; hence, the suppliers will have to do more research in order to meet the requirements of the new materials.
- Geographic Expansion of Manufacturing Plants Reducing Supply Chain Risks: Alongside this, there is an increasing trend in the geographical distribution of manufacturing plants. Firms are placing facilities in different locations to cut down supply chain risks and address local market requirements. This also provides new avenues for battery materials manufacturers as they have to work hand in hand to ensure that the necessary inputs are always available.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Battery Materials 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 Battery Materials 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.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
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 advancement of novel battery materials is expected to be the key market trends.
Based on material, the anode segment is expected to witness the fastest growth during the forecast period
Based on geography, Asia Pacific held the largest share of the battery materials market due to the region's dominance in battery production, particularly in countries such as China, Japan, and South Korea, which are major hubs for the manufacturing of lithium-ion batteries.
Growing demand for electric vehicles (Evs) is driving the market growth.
BASF SE; Cabot Corporation; Targray Technology International Inc.; American Elements; NEI Corporation; Asahi Kasei Corporation; Albemarle Corporation; Solvay; Arkema; and PPG Industries, Inc are some of the key players operating in the battery materials market
The Battery Materials Market is estimated to witness a CAGR of 15% 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 Battery Materials - By Battery Type
1.3.2 Battery Materials - By Materials
1.3.3 Battery Materials - By Application
1.3.4 Battery Materials - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BATTERY MATERIALS 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. BATTERY MATERIALS - 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. BATTERY MATERIALS - GLOBAL MARKET ANALYSIS
6.1. BATTERY MATERIALS - GLOBAL MARKET OVERVIEW
6.2. BATTERY MATERIALS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. BATTERY MATERIALS - REVENUE AND FORECASTS TO 2028 - BATTERY TYPE
7.1. OVERVIEW
7.2. BATTERY TYPE MARKET FORECASTS AND ANALYSIS
7.3. LI-ION
7.3.1. Overview
7.3.2. Li-ion Market Forecast and Analysis
7.4. LEAD-ACID
7.4.1. Overview
7.4.2. Lead-acid Market Forecast and Analysis
7.5. OTHER BATTERIES
7.5.1. Overview
7.5.2. Other Batteries Market Forecast and Analysis
8. BATTERY MATERIALS - REVENUE AND FORECASTS TO 2028 - MATERIALS
8.1. OVERVIEW
8.2. MATERIALS MARKET FORECASTS AND ANALYSIS
8.3. CATHODE MATERIAL
8.3.1. Overview
8.3.2. Cathode Material Market Forecast and Analysis
8.4. ANODE MATERIAL
8.4.1. Overview
8.4.2. Anode Material Market Forecast and Analysis
8.5. ELECTROLYTE MATERIAL
8.5.1. Overview
8.5.2. Electrolyte Material Market Forecast and Analysis
8.6. SEPARATOR MATERIAL
8.6.1. Overview
8.6.2. Separator Material Market Forecast and Analysis
8.7. OTHER MATERIALS
8.7.1. Overview
8.7.2. Other Materials Market Forecast and Analysis
9. BATTERY MATERIALS - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. PORTABLE DEVICES
9.3.1. Overview
9.3.2. Portable Devices Market Forecast and Analysis
9.4. ELECTRIC VEHICLES
9.4.1. Overview
9.4.2. Electric Vehicles Market Forecast and Analysis
9.5. INDUSTRIAL
9.5.1. Overview
9.5.2. Industrial Market Forecast and Analysis
9.6. AUTOMOTIVE
9.6.1. Overview
9.6.2. Automotive Market Forecast and Analysis
9.7. INDUSTRIAL
9.7.1. Overview
9.7.2. Industrial Market Forecast and Analysis
9.8. OTHERS
9.8.1. Overview
9.8.2. Others Market Forecast and Analysis
10. BATTERY MATERIALS REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Battery Materials Overview
10.1.2 North America Battery Materials Forecasts and Analysis
10.1.3 North America Battery Materials Forecasts and Analysis - By Battery Type
10.1.4 North America Battery Materials Forecasts and Analysis - By Materials
10.1.5 North America Battery Materials Forecasts and Analysis - By Application
10.1.6 North America Battery Materials Forecasts and Analysis - By Countries
10.1.6.1 Canada Battery Materials
10.1.6.1.1 Canada Battery Materials by Battery Type
10.1.6.1.2 Canada Battery Materials by Materials
10.1.6.1.3 Canada Battery Materials by Application
10.1.6.2 Mexico Battery Materials
10.1.6.2.1 Mexico Battery Materials by Battery Type
10.1.6.2.2 Mexico Battery Materials by Materials
10.1.6.2.3 Mexico Battery Materials by Application
10.1.6.3 US Battery Materials
10.1.6.3.1 US Battery Materials by Battery Type
10.1.6.3.2 US Battery Materials by Materials
10.1.6.3.3 US Battery Materials by Application
10.2. EUROPE
10.2.1 Europe Battery Materials Overview
10.2.2 Europe Battery Materials Forecasts and Analysis
10.2.3 Europe Battery Materials Forecasts and Analysis - By Battery Type
10.2.4 Europe Battery Materials Forecasts and Analysis - By Materials
10.2.5 Europe Battery Materials Forecasts and Analysis - By Application
10.2.6 Europe Battery Materials Forecasts and Analysis - By Countries
10.2.6.1 Germany Battery Materials
10.2.6.1.1 Germany Battery Materials by Battery Type
10.2.6.1.2 Germany Battery Materials by Materials
10.2.6.1.3 Germany Battery Materials by Application
10.2.6.2 France Battery Materials
10.2.6.2.1 France Battery Materials by Battery Type
10.2.6.2.2 France Battery Materials by Materials
10.2.6.2.3 France Battery Materials by Application
10.2.6.3 Italy Battery Materials
10.2.6.3.1 Italy Battery Materials by Battery Type
10.2.6.3.2 Italy Battery Materials by Materials
10.2.6.3.3 Italy Battery Materials by Application
10.2.6.4 United Kingdom Battery Materials
10.2.6.4.1 United Kingdom Battery Materials by Battery Type
10.2.6.4.2 United Kingdom Battery Materials by Materials
10.2.6.4.3 United Kingdom Battery Materials by Application
10.2.6.5 Russia Battery Materials
10.2.6.5.1 Russia Battery Materials by Battery Type
10.2.6.5.2 Russia Battery Materials by Materials
10.2.6.5.3 Russia Battery Materials by Application
10.2.6.6 Rest of Europe Battery Materials
10.2.6.6.1 Rest of Europe Battery Materials by Battery Type
10.2.6.6.2 Rest of Europe Battery Materials by Materials
10.2.6.6.3 Rest of Europe Battery Materials by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Battery Materials Overview
10.3.2 Asia-Pacific Battery Materials Forecasts and Analysis
10.3.3 Asia-Pacific Battery Materials Forecasts and Analysis - By Battery Type
10.3.4 Asia-Pacific Battery Materials Forecasts and Analysis - By Materials
10.3.5 Asia-Pacific Battery Materials Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Battery Materials Forecasts and Analysis - By Countries
10.3.6.1 Australia Battery Materials
10.3.6.1.1 Australia Battery Materials by Battery Type
10.3.6.1.2 Australia Battery Materials by Materials
10.3.6.1.3 Australia Battery Materials by Application
10.3.6.2 China Battery Materials
10.3.6.2.1 China Battery Materials by Battery Type
10.3.6.2.2 China Battery Materials by Materials
10.3.6.2.3 China Battery Materials by Application
10.3.6.3 India Battery Materials
10.3.6.3.1 India Battery Materials by Battery Type
10.3.6.3.2 India Battery Materials by Materials
10.3.6.3.3 India Battery Materials by Application
10.3.6.4 Japan Battery Materials
10.3.6.4.1 Japan Battery Materials by Battery Type
10.3.6.4.2 Japan Battery Materials by Materials
10.3.6.4.3 Japan Battery Materials by Application
10.3.6.5 South Korea Battery Materials
10.3.6.5.1 South Korea Battery Materials by Battery Type
10.3.6.5.2 South Korea Battery Materials by Materials
10.3.6.5.3 South Korea Battery Materials by Application
10.3.6.6 Rest of Asia-Pacific Battery Materials
10.3.6.6.1 Rest of Asia-Pacific Battery Materials by Battery Type
10.3.6.6.2 Rest of Asia-Pacific Battery Materials by Materials
10.3.6.6.3 Rest of Asia-Pacific Battery Materials by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Battery Materials Overview
10.4.2 Middle East and Africa Battery Materials Forecasts and Analysis
10.4.3 Middle East and Africa Battery Materials Forecasts and Analysis - By Battery Type
10.4.4 Middle East and Africa Battery Materials Forecasts and Analysis - By Materials
10.4.5 Middle East and Africa Battery Materials Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Battery Materials Forecasts and Analysis - By Countries
10.4.6.1 South Africa Battery Materials
10.4.6.1.1 South Africa Battery Materials by Battery Type
10.4.6.1.2 South Africa Battery Materials by Materials
10.4.6.1.3 South Africa Battery Materials by Application
10.4.6.2 Saudi Arabia Battery Materials
10.4.6.2.1 Saudi Arabia Battery Materials by Battery Type
10.4.6.2.2 Saudi Arabia Battery Materials by Materials
10.4.6.2.3 Saudi Arabia Battery Materials by Application
10.4.6.3 U.A.E Battery Materials
10.4.6.3.1 U.A.E Battery Materials by Battery Type
10.4.6.3.2 U.A.E Battery Materials by Materials
10.4.6.3.3 U.A.E Battery Materials by Application
10.4.6.4 Rest of Middle East and Africa Battery Materials
10.4.6.4.1 Rest of Middle East and Africa Battery Materials by Battery Type
10.4.6.4.2 Rest of Middle East and Africa Battery Materials by Materials
10.4.6.4.3 Rest of Middle East and Africa Battery Materials by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Battery Materials Overview
10.5.2 South and Central America Battery Materials Forecasts and Analysis
10.5.3 South and Central America Battery Materials Forecasts and Analysis - By Battery Type
10.5.4 South and Central America Battery Materials Forecasts and Analysis - By Materials
10.5.5 South and Central America Battery Materials Forecasts and Analysis - By Application
10.5.6 South and Central America Battery Materials Forecasts and Analysis - By Countries
10.5.6.1 Brazil Battery Materials
10.5.6.1.1 Brazil Battery Materials by Battery Type
10.5.6.1.2 Brazil Battery Materials by Materials
10.5.6.1.3 Brazil Battery Materials by Application
10.5.6.2 Argentina Battery Materials
10.5.6.2.1 Argentina Battery Materials by Battery Type
10.5.6.2.2 Argentina Battery Materials by Materials
10.5.6.2.3 Argentina Battery Materials by Application
10.5.6.3 Rest of South and Central America Battery Materials
10.5.6.3.1 Rest of South and Central America Battery Materials by Battery Type
10.5.6.3.2 Rest of South and Central America Battery Materials by Materials
10.5.6.3.3 Rest of South and Central America Battery Materials 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. BATTERY MATERIALS, KEY COMPANY PROFILES
12.1. ASAHI KASEI 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. HITACHI CHEMICAL
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. JOHNSON MATTHEY
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. KUREHA 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. MITSUBISHI CHEMICAL HOLDINGS
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. NEI 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. POSCO
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. SUMITOMO METAL MINING CO.,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. TORAY INDUSTRIES, 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. UMICORE
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.Asahi Kasei Corporation2.Hitachi Chemical3.Johnson Matthey4.Kureha Corporation5.Mitsubishi Chemical Holdings6.NEI Corporation7.POSCO8.Sumitomo Metal Mining Co.,Ltd.9.TORAY INDUSTRIES, INC.10.Umicore
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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