The Bio-Plasticizers Market is expected to register a CAGR of 8% 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 type (castor oil-based plasticizers, succinic acid, epoxidized soybean oil, epoxidized linseed oil, and others). The report is segmented by application (packaging, consumer goods, building and construction, medical, wire and cables, automotive, and others). 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 Bio-Plasticizers 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.
Bio-Plasticizers Market Segmentation
Type- Castor Oil-based Plasticizers
- Succinic Acid
- Epoxidized Soybean Oil
- Epoxidized Linseed Oil
- Packaging
- Consumer Goods
- Building and Construction
- Medical
- Wire and Cables
- Automotive
Strategic Insights
Bio-Plasticizers Market Growth Drivers- Rising Demand for Eco-Friendly Materials: The increasing demand for sustainable and eco-friendly materials in various industries is driving the growth of the bio-plasticizers market. Bio-plasticizers, derived from renewable resources like plants and natural oils, are being adopted as an alternative to traditional petrochemical-based plasticizers. With rising concerns about the environmental impact of synthetic plasticizers, bio-plasticizers are gaining popularity in applications such as packaging, automotive, and medical products, accelerating market growth.
- Stringent Regulations on Chemical Plasticizers: Regulatory pressures on the use of harmful chemical plasticizers, due to their toxicity and environmental impact, are a major factor contributing to the growth of the bio-plasticizers market. Government regulations, such as the European Union's REACH (Registration, Evaluation, Authorisation, and Restriction of Chemicals) and other global policies, are pushing manufacturers to find safer and more sustainable alternatives. Bio-plasticizers, which are non-toxic and biodegradable, are gaining traction as a safer solution in various applications, driving their demand.
- Growing Adoption of Sustainable Packaging Solutions: The growing demand for sustainable packaging solutions, particularly in the food and beverage, cosmetics, and pharmaceuticals industries, is boosting the demand for bio-plasticizers. These plasticizers help improve the flexibility and durability of bioplastics, which are increasingly used for eco-friendly packaging. As consumer demand for recyclable and biodegradable packaging increases, bio-plasticizers are becoming essential components in the production of sustainable packaging materials, driving market growth.
- Technological Advancements in Bio-Plasticizer Production: Innovations in the production processes of bio-plasticizers are contributing to market growth by improving the performance and cost-effectiveness of bio-based plasticizers. Researchers are developing new bio-plasticizer formulations with enhanced properties, such as better processing performance, improved durability, and environmental compatibility. These technological advancements are making bio-plasticizers more competitive with traditional plasticizers, broadening their applications across various industries, and promoting market expansion.
- Rising Demand in Automotive and Construction Industries: The automotive and construction industries are emerging as significant end-users of bio-plasticizers. In the automotive sector, bio-plasticizers are used in interior components such as upholstery, dashboards, and coatings to improve flexibility and reduce VOC emissions. Similarly, in the construction industry, bio-plasticizers are utilized in flooring, adhesives, and paints to enhance the performance of materials. As both industries seek more sustainable solutions, the adoption of bio-plasticizers is expected to grow, driving market expansion.
- Increasing Preference for Non-Toxic and Biodegradable Materials: The growing consumer and industry preference for non-toxic, biodegradable, and sustainable materials is a significant trend boosting the bio-plasticizers market. These plasticizers, derived from renewable resources, are free from phthalates and other harmful chemicals, making them safer for both human health and the environment. As industries become more eco-conscious, bio-plasticizers are being increasingly adopted in products such as medical devices, toys, and consumer goods, contributing to the market’s growth.
- Opportunities in the Packaging Industry: The packaging industry presents a major opportunity for the bio-plasticizers market. With increasing demand for sustainable, recyclable, and biodegradable packaging, bio-plasticizers are becoming key ingredients in the production of flexible, durable, and eco-friendly packaging materials. As consumers demand more environmentally responsible packaging options, manufacturers in the packaging industry are seeking bio-plasticizer alternatives to traditional plasticizers, creating growth opportunities for bio-plasticizers in this sector.
- Opportunities in Medical and Healthcare Applications: Bio-plasticizers offer significant opportunities in the medical and healthcare industries, where non-toxic, biocompatible, and safe materials are essential. These plasticizers are used in products like medical tubing, catheters, and blood bags, where flexibility and durability are required. As the demand for safe, eco-friendly materials in healthcare continues to grow, the bio-plasticizers market is set to expand in medical applications, offering promising growth opportunities.
- Opportunities in Bio-based Flooring and Coatings: The demand for bio-based flooring materials and coatings is growing in the construction and interior design industries. Bio-plasticizers are used to enhance the performance of bio-based flooring materials, such as linoleum and vinyl, by improving their flexibility and durability. As the construction industry shifts towards more sustainable materials, the bio-plasticizer market has an opportunity to expand its presence in the bio-based flooring and coatings sector.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Bio-Plasticizers 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 Bio-Plasticizers 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
The expansion of end-use industries, particularly in construction, automotive, and consumer goods is driving the market growth.
BASF SE; Emery Oleochemicals; Galata Chemicals; LANXESS; Avient Corporation; Dow; Cargill, Incorporated; Evonik; DIC CORPORATION; and Roquette Frères are some of the key players operating in the bio-plasticizers market
Based on geography, Asia Pacific held the largest share of the bio-plasticizers market due to region's rapid industrialization, growing demand for sustainable materials, and significant applications in construction and consumer goods.
The growing adoption of bio-plasticizers in flexible PVC applications is expected to be the key market trends.
Based on type, the epoxidized soybean oil segment is expected to witness the fastest growth during the forecast period
The Bio-Plasticizers Market is estimated to witness a CAGR of 8% from 2023 to 2031
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Bio-Plasticizers Market - By Type
1.3.2 Bio-Plasticizers Market - By Application
1.3.3 Bio-Plasticizers Market - By Region
1.3.3.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. BIO-PLASTICIZERS 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. BIO-PLASTICIZERS 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. BIO-PLASTICIZERS MARKET - GLOBAL MARKET ANALYSIS
6.1. BIO-PLASTICIZERS - GLOBAL MARKET OVERVIEW
6.2. BIO-PLASTICIZERS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. BIO-PLASTICIZERS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. EPOXIDIZED SOYBEAN OIL (ESBO)
7.3.1. Overview
7.3.2. Epoxidized Soybean Oil (ESBO) Market Forecast and Analysis
7.4. CASTOR OIL
7.4.1. Overview
7.4.2. Castor Oil Market Forecast and Analysis
7.5. CITRATES
7.5.1. Overview
7.5.2. Citrates Market Forecast and Analysis
7.6. SUCCINIC ACID
7.6.1. Overview
7.6.2. Succinic Acid Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. BIO-PLASTICIZERS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. WIRES AND CABLES
8.3.1. Overview
8.3.2. Wires and Cables Market Forecast and Analysis
8.4. FILMS AND SHEETS
8.4.1. Overview
8.4.2. Films and Sheets Market Forecast and Analysis
8.5. FLOORINGS AND WALL COVERINGS
8.5.1. Overview
8.5.2. Floorings and Wall Coverings Market Forecast and Analysis
8.6. MEDICAL DEVICES
8.6.1. Overview
8.6.2. Medical Devices Market Forecast and Analysis
8.7. PACKAGING MATERIALS
8.7.1. Overview
8.7.2. Packaging Materials Market Forecast and Analysis
8.8. OTHERS
8.8.1. Overview
8.8.2. Others Market Forecast and Analysis
9. BIO-PLASTICIZERS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Bio-Plasticizers Market Overview
9.1.2 North America Bio-Plasticizers Market Forecasts and Analysis
9.1.3 North America Bio-Plasticizers Market Forecasts and Analysis - By Type
9.1.4 North America Bio-Plasticizers Market Forecasts and Analysis - By Application
9.1.5 North America Bio-Plasticizers Market Forecasts and Analysis - By Countries
9.1.5.1 United States Bio-Plasticizers Market
9.1.5.1.1 United States Bio-Plasticizers Market by Type
9.1.5.1.2 United States Bio-Plasticizers Market by Application
9.1.5.2 Canada Bio-Plasticizers Market
9.1.5.2.1 Canada Bio-Plasticizers Market by Type
9.1.5.2.2 Canada Bio-Plasticizers Market by Application
9.1.5.3 Mexico Bio-Plasticizers Market
9.1.5.3.1 Mexico Bio-Plasticizers Market by Type
9.1.5.3.2 Mexico Bio-Plasticizers Market by Application
9.2. EUROPE
9.2.1 Europe Bio-Plasticizers Market Overview
9.2.2 Europe Bio-Plasticizers Market Forecasts and Analysis
9.2.3 Europe Bio-Plasticizers Market Forecasts and Analysis - By Type
9.2.4 Europe Bio-Plasticizers Market Forecasts and Analysis - By Application
9.2.5 Europe Bio-Plasticizers Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Bio-Plasticizers Market
9.2.5.1.1 Germany Bio-Plasticizers Market by Type
9.2.5.1.2 Germany Bio-Plasticizers Market by Application
9.2.5.2 France Bio-Plasticizers Market
9.2.5.2.1 France Bio-Plasticizers Market by Type
9.2.5.2.2 France Bio-Plasticizers Market by Application
9.2.5.3 Italy Bio-Plasticizers Market
9.2.5.3.1 Italy Bio-Plasticizers Market by Type
9.2.5.3.2 Italy Bio-Plasticizers Market by Application
9.2.5.4 United Kingdom Bio-Plasticizers Market
9.2.5.4.1 United Kingdom Bio-Plasticizers Market by Type
9.2.5.4.2 United Kingdom Bio-Plasticizers Market by Application
9.2.5.5 Russia Bio-Plasticizers Market
9.2.5.5.1 Russia Bio-Plasticizers Market by Type
9.2.5.5.2 Russia Bio-Plasticizers Market by Application
9.2.5.6 Rest of Europe Bio-Plasticizers Market
9.2.5.6.1 Rest of Europe Bio-Plasticizers Market by Type
9.2.5.6.2 Rest of Europe Bio-Plasticizers Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Bio-Plasticizers Market Overview
9.3.2 Asia-Pacific Bio-Plasticizers Market Forecasts and Analysis
9.3.3 Asia-Pacific Bio-Plasticizers Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Bio-Plasticizers Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Bio-Plasticizers Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Bio-Plasticizers Market
9.3.5.1.1 Australia Bio-Plasticizers Market by Type
9.3.5.1.2 Australia Bio-Plasticizers Market by Application
9.3.5.2 China Bio-Plasticizers Market
9.3.5.2.1 China Bio-Plasticizers Market by Type
9.3.5.2.2 China Bio-Plasticizers Market by Application
9.3.5.3 India Bio-Plasticizers Market
9.3.5.3.1 India Bio-Plasticizers Market by Type
9.3.5.3.2 India Bio-Plasticizers Market by Application
9.3.5.4 Japan Bio-Plasticizers Market
9.3.5.4.1 Japan Bio-Plasticizers Market by Type
9.3.5.4.2 Japan Bio-Plasticizers Market by Application
9.3.5.5 South Korea Bio-Plasticizers Market
9.3.5.5.1 South Korea Bio-Plasticizers Market by Type
9.3.5.5.2 South Korea Bio-Plasticizers Market by Application
9.3.5.6 Rest of Asia-Pacific Bio-Plasticizers Market
9.3.5.6.1 Rest of Asia-Pacific Bio-Plasticizers Market by Type
9.3.5.6.2 Rest of Asia-Pacific Bio-Plasticizers Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Bio-Plasticizers Market Overview
9.4.2 Middle East and Africa Bio-Plasticizers Market Forecasts and Analysis
9.4.3 Middle East and Africa Bio-Plasticizers Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Bio-Plasticizers Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Bio-Plasticizers Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Bio-Plasticizers Market
9.4.5.1.1 South Africa Bio-Plasticizers Market by Type
9.4.5.1.2 South Africa Bio-Plasticizers Market by Application
9.4.5.2 Saudi Arabia Bio-Plasticizers Market
9.4.5.2.1 Saudi Arabia Bio-Plasticizers Market by Type
9.4.5.2.2 Saudi Arabia Bio-Plasticizers Market by Application
9.4.5.3 U.A.E Bio-Plasticizers Market
9.4.5.3.1 U.A.E Bio-Plasticizers Market by Type
9.4.5.3.2 U.A.E Bio-Plasticizers Market by Application
9.4.5.4 Rest of Middle East and Africa Bio-Plasticizers Market
9.4.5.4.1 Rest of Middle East and Africa Bio-Plasticizers Market by Type
9.4.5.4.2 Rest of Middle East and Africa Bio-Plasticizers Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Bio-Plasticizers Market Overview
9.5.2 South and Central America Bio-Plasticizers Market Forecasts and Analysis
9.5.3 South and Central America Bio-Plasticizers Market Forecasts and Analysis - By Type
9.5.4 South and Central America Bio-Plasticizers Market Forecasts and Analysis - By Application
9.5.5 South and Central America Bio-Plasticizers Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Bio-Plasticizers Market
9.5.5.1.1 Brazil Bio-Plasticizers Market by Type
9.5.5.1.2 Brazil Bio-Plasticizers Market by Application
9.5.5.2 Argentina Bio-Plasticizers Market
9.5.5.2.1 Argentina Bio-Plasticizers Market by Type
9.5.5.2.2 Argentina Bio-Plasticizers Market by Application
9.5.5.3 Rest of South and Central America Bio-Plasticizers Market
9.5.5.3.1 Rest of South and Central America Bio-Plasticizers Market by Type
9.5.5.3.2 Rest of South and Central America Bio-Plasticizers Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. BIO-PLASTICIZERS MARKET, KEY COMPANY PROFILES
11.1. BASF SE
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. EMERY OLEOCHEMICALS
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. GALATA CHEMICALS LLC
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. HEBEI PLASTICIZER CO., LTD.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. LANXESS AG
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. MATRìCA S.P.A.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. MYRIANT CORPORATION
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. OXEA GMBH
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. POLYONE CORPORATION
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. THE DOW CHEMICAL COMPANY
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
- BASF SE
- Emery Oleochemicals
- Galata Chemicals LLC
- Hebei Plasticizer Co., Ltd.
- Lanxess AG
- Matrìca S.p.A.
- Myriant Corporation
- OXEA GmbH
- PolyOne Corporation
- The Dow Chemical Company
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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