Building Thermal Insulation Material Market Analysis 2031
The Building Thermal Insulation Material Market is expected to register a CAGR of 5% from 2023 to 2031, with a market size expanding from US$ XX Million in 2023 to US$ XX Million by 2031.
The report is segmented by material (mineral wool, foamed plastics, cellulose and others). The report further presents analysis based on application (floor, wall, roof and ceiling and others). Based on end use, the market is segmented into (residential, commercial, industrial and institutional and infrastructure). 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 Building Thermal Insulation Material 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.
Building Thermal Insulation Material Market Segmentation
Material- Mineral Wool
- Foamed Plastics
- Cellulose and Others
- Floor
- Wall
- Roof and Ceiling and Others
- Residential
- Commercial
- Industrial and Institutional and Infrastructure
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Building Thermal Insulation Material Market Growth Drivers- Strict Energy Efficiency Regulations Drive Demand for High-Performance Thermal Insulation Materials: Governments worldwide are adopting strict energy efficiency regulations to reduce carbon footprints and energy use in buildings. As a result of the current focus on greener and more sustainable construction practices, high-performance thermal insulation materials have seen increased demand because thermal insulating materials are an essential component of energy efficiency in residential, commercial, and industrial structures and are favored by builders and architectural designers.
- Urbanization and Infrastructure Development Boost the Need for Advanced Insulation Solutions: The construction industry globally is undergoing robust growth due to urbanization, population growth, and infrastructure development. The construction of new buildings typically means increasing demand for thermal insulation materials, particularly in climates with extreme winter and summer temperature spikes. End users (contractors and builders) also focus on the advanced insulation measures to support energy efficiency, thermal comfort craft, and building code compliance.
- Growing Consumer Awareness of Indoor Air Quality Fuels Demand for Eco-Friendly and Safe Insulation Products: There is an increased awareness among consumers and businesses about the importance of indoor air quality, given that thermal insulation products not only support energy efficiency but, as an intermediary, products work to maintain comfortable indoor conditions to regulate temperature and moisture. Users increasingly demand insulation products that are not toxic, biodegradable or recyclable options that improve indoor air quality, impacting their final selection consideration and purchase decision.
- Advancements in Nano-Materials and Aerogel Technology Enhance Thermal Insulation Efficiency: The market for thermal insulating is seeing revolutionary progress in material science, namely the development of nano-materials and aerogel technology, the result of which are smaller, thinner, and more efficient thermal insulating products providing performance that has exceptional thermal performance. With the current push by manufacturers for research and development, the market has witnessed a shift towards high-performance insulation materials that can be efficiently embedded in multiple building systems.
- Smart Building Technology Revolutionizes Thermal Insulating Market with Real-Time Monitoring and Dynamic Performance: With the emergence of smart building technology, the thermal insulating market is transforming. While not pure mechanical insulation, this smart insulating technology with inside sensors allows building owners to monitor the temperature, energy use, and humidity in real time. This infrastructure would allow for dynamic insulation performance and energy use, providing building owners with valuable data to help heat their buildings.
- Rising Demand for Green Insulation Products Prompts Innovation in Cellulose and Hemp-Based Materials: Innovations related to cellulose or hemp insulation products are studied as green products due to rising concerns related adverse impact of building materials on the environment. Key market players are focused on realigning production and delivering on sustainability goals to help with overall environmental sustainability.
- Emerging Materials Technologies Provide Opportunities for High-Performance Thermal Insulation Products: Emerging technologies in materials present a prospect for manufacturers to innovate and create higher-performing insulation products. Manufacturers investing in R&D can create insulation materials with improved thermal resistance, fire resistance, and moisture management. This innovation can target specific market segments, such as the passive house sector and the energy-efficient retrofitting of homes that require better insulation.
- Integration of IoT and Smart Technologies into Thermal Insulation Materials Drives Innovation in Smart Buildings: As the adoption of smart buildings continues to expand, there is considerable opportunity for manufacturers in the thermal insulation market to integrate smart technologies. Manufacturing insulation materials that utilize IoT technology can offer insulation materials that track and report energy performance and indoor conditions in real time.
- Rising Demand for Energy-Efficient Buildings in Emerging Markets Offers Lucrative Growth Opportunities: The thermal insulation market also presents considerable opportunities for growth in emerging economies. As urbanization and economic development increases in emerging markets, such as Asia-Pacific, Latin America, and Africa, the demand for energy-efficient buildings is expected to increase. Manufacturers can tap this lucrative opportunity of tapping into the emerging markets by adapting their product offerings to comply with local building codes and climate.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Building Thermal Insulation Material 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 Building Thermal Insulation Material 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 Building Thermal Insulation Material Market is estimated to witness a CAGR of 5% from 2023 to 2031
Energy efficiency regulations and rising construction activities are driving the market growth
Owens Corning; Johns Manville; Rockwool Group; Knauf Insulation; CertainTeed are some of the key players operating in the building thermal insulation material market
Based on end use, the commercial segment is expected to witness the fastest growth during the forecast period
Based on geography, Asia Pacific held the largest share of the building thermal insulation material market due to growth in the building and construction industry in the region
Adoption of sustainable and eco-friendly materials is expected to be the key market trends
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Building Thermal Insulation Material Market - By Material
1.3.2 Building Thermal Insulation Material Market - By Building Type
1.3.3 Building Thermal Insulation Material Market - By Application
1.3.4 Building Thermal Insulation Material Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BUILDING THERMAL INSULATION MATERIAL 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. BUILDING THERMAL INSULATION MATERIAL 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. BUILDING THERMAL INSULATION MATERIAL MARKET - GLOBAL MARKET ANALYSIS
6.1. BUILDING THERMAL INSULATION MATERIAL - GLOBAL MARKET OVERVIEW
6.2. BUILDING THERMAL INSULATION MATERIAL - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. BUILDING THERMAL INSULATION MATERIAL MARKET - REVENUE AND FORECASTS TO 2028 - MATERIAL
7.1. OVERVIEW
7.2. MATERIAL MARKET FORECASTS AND ANALYSIS
7.3. PLASTIC FOAM
7.3.1. Overview
7.3.2. Plastic Foam Market Forecast and Analysis
7.4. GLASS WOOL
7.4.1. Overview
7.4.2. Glass Wool Market Forecast and Analysis
7.5. STONE WOOL
7.5.1. Overview
7.5.2. Stone Wool Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. BUILDING THERMAL INSULATION MATERIAL MARKET - REVENUE AND FORECASTS TO 2028 - BUILDING TYPE
8.1. OVERVIEW
8.2. BUILDING TYPE MARKET FORECASTS AND ANALYSIS
8.3. RESIDENTIAL BUILDING
8.3.1. Overview
8.3.2. Residential Building Market Forecast and Analysis
8.4. NON-RESIDENTIAL BUILDING
8.4.1. Overview
8.4.2. Non-Residential Building Market Forecast and Analysis
9. BUILDING THERMAL INSULATION MATERIAL MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. ROOF INSULATION
9.3.1. Overview
9.3.2. Roof Insulation Market Forecast and Analysis
9.4. WALL INSULATION
9.4.1. Overview
9.4.2. Wall Insulation Market Forecast and Analysis
9.5. FLOOR INSULATION
9.5.1. Overview
9.5.2. Floor Insulation Market Forecast and Analysis
10. BUILDING THERMAL INSULATION MATERIAL MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Building Thermal Insulation Material Market Overview
10.1.2 North America Building Thermal Insulation Material Market Forecasts and Analysis
10.1.3 North America Building Thermal Insulation Material Market Forecasts and Analysis - By Material
10.1.4 North America Building Thermal Insulation Material Market Forecasts and Analysis - By Building Type
10.1.5 North America Building Thermal Insulation Material Market Forecasts and Analysis - By Application
10.1.6 North America Building Thermal Insulation Material Market Forecasts and Analysis - By Countries
10.1.6.1 United States Building Thermal Insulation Material Market
10.1.6.1.1 United States Building Thermal Insulation Material Market by Material
10.1.6.1.2 United States Building Thermal Insulation Material Market by Building Type
10.1.6.1.3 United States Building Thermal Insulation Material Market by Application
10.1.6.2 Canada Building Thermal Insulation Material Market
10.1.6.2.1 Canada Building Thermal Insulation Material Market by Material
10.1.6.2.2 Canada Building Thermal Insulation Material Market by Building Type
10.1.6.2.3 Canada Building Thermal Insulation Material Market by Application
10.1.6.3 Mexico Building Thermal Insulation Material Market
10.1.6.3.1 Mexico Building Thermal Insulation Material Market by Material
10.1.6.3.2 Mexico Building Thermal Insulation Material Market by Building Type
10.1.6.3.3 Mexico Building Thermal Insulation Material Market by Application
10.2. EUROPE
10.2.1 Europe Building Thermal Insulation Material Market Overview
10.2.2 Europe Building Thermal Insulation Material Market Forecasts and Analysis
10.2.3 Europe Building Thermal Insulation Material Market Forecasts and Analysis - By Material
10.2.4 Europe Building Thermal Insulation Material Market Forecasts and Analysis - By Building Type
10.2.5 Europe Building Thermal Insulation Material Market Forecasts and Analysis - By Application
10.2.6 Europe Building Thermal Insulation Material Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Building Thermal Insulation Material Market
10.2.6.1.1 Germany Building Thermal Insulation Material Market by Material
10.2.6.1.2 Germany Building Thermal Insulation Material Market by Building Type
10.2.6.1.3 Germany Building Thermal Insulation Material Market by Application
10.2.6.2 France Building Thermal Insulation Material Market
10.2.6.2.1 France Building Thermal Insulation Material Market by Material
10.2.6.2.2 France Building Thermal Insulation Material Market by Building Type
10.2.6.2.3 France Building Thermal Insulation Material Market by Application
10.2.6.3 Italy Building Thermal Insulation Material Market
10.2.6.3.1 Italy Building Thermal Insulation Material Market by Material
10.2.6.3.2 Italy Building Thermal Insulation Material Market by Building Type
10.2.6.3.3 Italy Building Thermal Insulation Material Market by Application
10.2.6.4 United Kingdom Building Thermal Insulation Material Market
10.2.6.4.1 United Kingdom Building Thermal Insulation Material Market by Material
10.2.6.4.2 United Kingdom Building Thermal Insulation Material Market by Building Type
10.2.6.4.3 United Kingdom Building Thermal Insulation Material Market by Application
10.2.6.5 Russia Building Thermal Insulation Material Market
10.2.6.5.1 Russia Building Thermal Insulation Material Market by Material
10.2.6.5.2 Russia Building Thermal Insulation Material Market by Building Type
10.2.6.5.3 Russia Building Thermal Insulation Material Market by Application
10.2.6.6 Rest of Europe Building Thermal Insulation Material Market
10.2.6.6.1 Rest of Europe Building Thermal Insulation Material Market by Material
10.2.6.6.2 Rest of Europe Building Thermal Insulation Material Market by Building Type
10.2.6.6.3 Rest of Europe Building Thermal Insulation Material Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Building Thermal Insulation Material Market Overview
10.3.2 Asia-Pacific Building Thermal Insulation Material Market Forecasts and Analysis
10.3.3 Asia-Pacific Building Thermal Insulation Material Market Forecasts and Analysis - By Material
10.3.4 Asia-Pacific Building Thermal Insulation Material Market Forecasts and Analysis - By Building Type
10.3.5 Asia-Pacific Building Thermal Insulation Material Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Building Thermal Insulation Material Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Building Thermal Insulation Material Market
10.3.6.1.1 Australia Building Thermal Insulation Material Market by Material
10.3.6.1.2 Australia Building Thermal Insulation Material Market by Building Type
10.3.6.1.3 Australia Building Thermal Insulation Material Market by Application
10.3.6.2 China Building Thermal Insulation Material Market
10.3.6.2.1 China Building Thermal Insulation Material Market by Material
10.3.6.2.2 China Building Thermal Insulation Material Market by Building Type
10.3.6.2.3 China Building Thermal Insulation Material Market by Application
10.3.6.3 India Building Thermal Insulation Material Market
10.3.6.3.1 India Building Thermal Insulation Material Market by Material
10.3.6.3.2 India Building Thermal Insulation Material Market by Building Type
10.3.6.3.3 India Building Thermal Insulation Material Market by Application
10.3.6.4 Japan Building Thermal Insulation Material Market
10.3.6.4.1 Japan Building Thermal Insulation Material Market by Material
10.3.6.4.2 Japan Building Thermal Insulation Material Market by Building Type
10.3.6.4.3 Japan Building Thermal Insulation Material Market by Application
10.3.6.5 South Korea Building Thermal Insulation Material Market
10.3.6.5.1 South Korea Building Thermal Insulation Material Market by Material
10.3.6.5.2 South Korea Building Thermal Insulation Material Market by Building Type
10.3.6.5.3 South Korea Building Thermal Insulation Material Market by Application
10.3.6.6 Rest of Asia-Pacific Building Thermal Insulation Material Market
10.3.6.6.1 Rest of Asia-Pacific Building Thermal Insulation Material Market by Material
10.3.6.6.2 Rest of Asia-Pacific Building Thermal Insulation Material Market by Building Type
10.3.6.6.3 Rest of Asia-Pacific Building Thermal Insulation Material Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Building Thermal Insulation Material Market Overview
10.4.2 Middle East and Africa Building Thermal Insulation Material Market Forecasts and Analysis
10.4.3 Middle East and Africa Building Thermal Insulation Material Market Forecasts and Analysis - By Material
10.4.4 Middle East and Africa Building Thermal Insulation Material Market Forecasts and Analysis - By Building Type
10.4.5 Middle East and Africa Building Thermal Insulation Material Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Building Thermal Insulation Material Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Building Thermal Insulation Material Market
10.4.6.1.1 South Africa Building Thermal Insulation Material Market by Material
10.4.6.1.2 South Africa Building Thermal Insulation Material Market by Building Type
10.4.6.1.3 South Africa Building Thermal Insulation Material Market by Application
10.4.6.2 Saudi Arabia Building Thermal Insulation Material Market
10.4.6.2.1 Saudi Arabia Building Thermal Insulation Material Market by Material
10.4.6.2.2 Saudi Arabia Building Thermal Insulation Material Market by Building Type
10.4.6.2.3 Saudi Arabia Building Thermal Insulation Material Market by Application
10.4.6.3 U.A.E Building Thermal Insulation Material Market
10.4.6.3.1 U.A.E Building Thermal Insulation Material Market by Material
10.4.6.3.2 U.A.E Building Thermal Insulation Material Market by Building Type
10.4.6.3.3 U.A.E Building Thermal Insulation Material Market by Application
10.4.6.4 Rest of Middle East and Africa Building Thermal Insulation Material Market
10.4.6.4.1 Rest of Middle East and Africa Building Thermal Insulation Material Market by Material
10.4.6.4.2 Rest of Middle East and Africa Building Thermal Insulation Material Market by Building Type
10.4.6.4.3 Rest of Middle East and Africa Building Thermal Insulation Material Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Building Thermal Insulation Material Market Overview
10.5.2 South and Central America Building Thermal Insulation Material Market Forecasts and Analysis
10.5.3 South and Central America Building Thermal Insulation Material Market Forecasts and Analysis - By Material
10.5.4 South and Central America Building Thermal Insulation Material Market Forecasts and Analysis - By Building Type
10.5.5 South and Central America Building Thermal Insulation Material Market Forecasts and Analysis - By Application
10.5.6 South and Central America Building Thermal Insulation Material Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Building Thermal Insulation Material Market
10.5.6.1.1 Brazil Building Thermal Insulation Material Market by Material
10.5.6.1.2 Brazil Building Thermal Insulation Material Market by Building Type
10.5.6.1.3 Brazil Building Thermal Insulation Material Market by Application
10.5.6.2 Argentina Building Thermal Insulation Material Market
10.5.6.2.1 Argentina Building Thermal Insulation Material Market by Material
10.5.6.2.2 Argentina Building Thermal Insulation Material Market by Building Type
10.5.6.2.3 Argentina Building Thermal Insulation Material Market by Application
10.5.6.3 Rest of South and Central America Building Thermal Insulation Material Market
10.5.6.3.1 Rest of South and Central America Building Thermal Insulation Material Market by Material
10.5.6.3.2 Rest of South and Central America Building Thermal Insulation Material Market by Building Type
10.5.6.3.3 Rest of South and Central America Building Thermal Insulation Material 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. BUILDING THERMAL INSULATION MATERIAL MARKET, KEY COMPANY PROFILES
12.1. BASF SE
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. BEIJING NEW BUILDING MATERIAL (GROUP) CO., LTD.
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. GAF MATERIALS CORPORATION
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. JOHNS MANVILLE 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. KINGSPAN GROUP PLC
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. KNAUF INSULATION, INC
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. OWENS CORNING
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. PAROC GROUP OY
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. ROCKWOOL INTERNATIONAL A/S
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. SAINT-GOBAIN S.A.
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. BASF SE
2. Beijing New Building Material (Group) Co., Ltd.
3. GAF Materials Corporation
4. Johns Manville Corporation
5. Kingspan Group PLC
6. Knauf Insulation, Inc
7. Owens Corning
8. Paroc Group OY
9. Rockwool International A/S
10. Saint-Gobain S.A.
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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