Carbon Fiber Prepreg Market Trends and Growth (2021-2031)
The Carbon Fiber Prepreg Market is expected to register a CAGR of 9% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
Carbon Fiber Prepreg Market covers analysis by Manufacturing Process (Hot Melt Process, Solvent Dip Process); Resin Type (Epoxy Resin, Phenolic Resin, Thermoplastic Resin, Bismaleimide Resin, Polyimide Resin, Other Resins); End-Use Industry (Aerospace and Defence, Wind Energy, Sports and Recreation, Automotive, Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America). Carbon fiber prepregs are the prepegs which are composed from carbon fibers with thermoset resins including epoxy, phenols and thermoplastic resins. Prepreg possess comparatively high strength-to-weight ratio along with resistance to corrosion, fatigue and fire creating favourable environment for commercial and industrial applications.
Purpose of the ReportThe report Carbon Fiber Prepreg 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.
Carbon Fiber Prepreg Market Segmentation
Manufacturing Process- Hot Melt Process
- Solvent Dip Process
- Epoxy Resin
- Phenolic Resin
- Thermoplastic Resin
- Bismaleimide Resin
- Polyimide Resin
- Other Resins
- Aerospace and Defence
- Wind Energy
- Sports and Recreation
- Automotive
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Carbon Fiber Prepreg Market Growth Drivers- High Demand for Carbon Fiber Prepregs in Aerospace and Automotive Sectors: The major consumers of carbon fibre prepregs are the aerospace and automotive sectors. The demand for carbon fibre prepregs is especially high in these sectors due to the necessity for lightweight yet high strength materials that would contribute towards better fuel efficiency and performance. The increasing production of fuel-efficient vehicles and the growing expansion of the aerospace industry are major demand factors for carbon fiber prepregs.
- Adoption of Lightweight Materials Driving Carbon Fiber Prepregs Demand: The emphasis on adopting lightweight materials in various applications to cut on the consumption of energy as well as reduce carbon footprints has led to a high demand for carbon fiber prepregs, which also present a higher strength-to-weight ratio compared to traditional materials.
- Innovations in Processing and Materials Technology Enhancing Carbon Fiber Prepregs Performance: Innovations in processing and materials technology have been improving the performance and scope of carbon fiber prepregs manufactured in terms of application capabilities. Advances like higher resin formulations and process techniques find themselves portraying stronger, more resilient products that absorb extreme conditions.
- Environmental Sustainability in Carbon Fiber Prepreg Market: As environmental concerns begin to gain momentum, the practice needs to become more environment-friendly in this carbon fiber prepreg market. This includes bio-based resins and recycling technologies, through which carbon fibers could be reused.
- Carbon Fiber Prepregs Enhancing Efficiency in Electric Vehicles: Light materials are required to increase the efficiency of the batteries further and raise the performance of the vehicles to make electric vehicles. The reason for this is that carbon fibre prepreg is light in weight but at the same time is strong.
- Customized Carbon Fiber Prepreg Solutions for Specialized Industry Needs: Special properties in customized carbon fiber prepreg solutions are emerging due to the growing requirement for specialty materials, meeting particular performance needs. Beyond that, manufacturers will concentrate on developing product lines tailored to the needs of different industries.
- Growing Demand for Carbon Fiber Prepregs Driven by Wind Power Growth: Growing Capacities for Wind Power The carbon fiber prepreg market has a primary driver in the growth of wind power capacities. Light weight and strength provided by carbon fiber prepregs serve as an input to manufacture lighter, stronger turbine blades that eventually lead toward much more effective energy production.
- Expanding Applications of Carbon Fiber Prepregs Across New Sectors: The versatility of carbon fiber prepregs is what enables them to be used in new applications beyond the traditional sectors. Precisely, firms are now using carbon fiber prepregs in new applications for producing sports equipment, consumer electronics, and medical devices.
- Government Policies Driving Demand for Carbon Fiber Prepregs in Sustainability Efforts: Government policies and regulations to decrease carbon emissions and encourage energy efficiency would support market growth. Policies pertaining to transportation and other related industries that would encourage the use of lightweight materials would drive up demand for carbon fiber prepregs as part of global efforts toward sustainability.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Carbon Fiber Prepreg 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 Carbon Fiber Prepreg 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 growing demand for Evs is an emerging trend in the market.
Based on geography, North America held the largest share of the carbon fiber prepeg market due to the growing aerospace industry in the region.
Axiom Materials, Gurit Holding Ag, Hexcel Corporation, Mitsubishi Rayon Co. Ltd, Park Electrochemical Corporation, Royal Tencate N.V., SGL Group, Solvay, Teijin Limited, and Toray Industries Inc are some of the key players in the market.
The aerospace end use industry is expected to grow at a fastest CAGR during the forecast period.
The Carbon Fiber Prepreg Market is estimated to witness a CAGR of 9% from 2023 to 2031
The growing demand for lightweight materials in the aerospace industry is a key driver in the market.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Carbon Fiber Prepreg Market - By Manufacturing Process
1.3.2 Carbon Fiber Prepreg Market - By Resin Type
1.3.3 Carbon Fiber Prepreg Market - By End-Use Industry
1.3.4 Carbon Fiber Prepreg Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. CARBON FIBER PREPREG 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. CARBON FIBER PREPREG 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. CARBON FIBER PREPREG MARKET - GLOBAL MARKET ANALYSIS
6.1. CARBON FIBER PREPREG - GLOBAL MARKET OVERVIEW
6.2. CARBON FIBER PREPREG - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. CARBON FIBER PREPREG MARKET - REVENUE AND FORECASTS TO 2028 - MANUFACTURING PROCESS
7.1. OVERVIEW
7.2. MANUFACTURING PROCESS MARKET FORECASTS AND ANALYSIS
7.3. HOT MELT PROCESS
7.3.1. Overview
7.3.2. Hot Melt Process Market Forecast and Analysis
7.4. SOLVENT DIP PROCESS
7.4.1. Overview
7.4.2. Solvent Dip Process Market Forecast and Analysis
8. CARBON FIBER PREPREG MARKET - REVENUE AND FORECASTS TO 2028 - RESIN TYPE
8.1. OVERVIEW
8.2. RESIN TYPE MARKET FORECASTS AND ANALYSIS
8.3. EPOXY RESIN
8.3.1. Overview
8.3.2. Epoxy Resin Market Forecast and Analysis
8.4. PHENOLIC RESIN
8.4.1. Overview
8.4.2. Phenolic Resin Market Forecast and Analysis
8.5. THERMOPLASTIC RESIN
8.5.1. Overview
8.5.2. Thermoplastic Resin Market Forecast and Analysis
8.6. BISMALEIMIDE RESIN
8.6.1. Overview
8.6.2. Bismaleimide Resin Market Forecast and Analysis
8.7. POLYIMIDE RESIN
8.7.1. Overview
8.7.2. Polyimide Resin Market Forecast and Analysis
8.8. OTHER RESINS
8.8.1. Overview
8.8.2. Other Resins Market Forecast and Analysis
9. CARBON FIBER PREPREG MARKET - REVENUE AND FORECASTS TO 2028 - END-USE INDUSTRY
9.1. OVERVIEW
9.2. END-USE INDUSTRY MARKET FORECASTS AND ANALYSIS
9.3. AEROSPACE AND DEFENSE
9.3.1. Overview
9.3.2. Aerospace and Defense Market Forecast and Analysis
9.4. WIND ENERGY
9.4.1. Overview
9.4.2. Wind Energy Market Forecast and Analysis
9.5. SPORTS AND RECREATION
9.5.1. Overview
9.5.2. Sports and Recreation Market Forecast and Analysis
9.6. AUTOMOTIVE
9.6.1. Overview
9.6.2. Automotive Market Forecast and Analysis
9.7. OTHERS
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis
10. CARBON FIBER PREPREG MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Carbon Fiber Prepreg Market Overview
10.1.2 North America Carbon Fiber Prepreg Market Forecasts and Analysis
10.1.3 North America Carbon Fiber Prepreg Market Forecasts and Analysis - By Manufacturing Process
10.1.4 North America Carbon Fiber Prepreg Market Forecasts and Analysis - By Resin Type
10.1.5 North America Carbon Fiber Prepreg Market Forecasts and Analysis - By End-Use Industry
10.1.6 North America Carbon Fiber Prepreg Market Forecasts and Analysis - By Countries
10.1.6.1 United States Carbon Fiber Prepreg Market
10.1.6.1.1 United States Carbon Fiber Prepreg Market by Manufacturing Process
10.1.6.1.2 United States Carbon Fiber Prepreg Market by Resin Type
10.1.6.1.3 United States Carbon Fiber Prepreg Market by End-Use Industry
10.1.6.2 Canada Carbon Fiber Prepreg Market
10.1.6.2.1 Canada Carbon Fiber Prepreg Market by Manufacturing Process
10.1.6.2.2 Canada Carbon Fiber Prepreg Market by Resin Type
10.1.6.2.3 Canada Carbon Fiber Prepreg Market by End-Use Industry
10.1.6.3 Mexico Carbon Fiber Prepreg Market
10.1.6.3.1 Mexico Carbon Fiber Prepreg Market by Manufacturing Process
10.1.6.3.2 Mexico Carbon Fiber Prepreg Market by Resin Type
10.1.6.3.3 Mexico Carbon Fiber Prepreg Market by End-Use Industry
10.2. EUROPE
10.2.1 Europe Carbon Fiber Prepreg Market Overview
10.2.2 Europe Carbon Fiber Prepreg Market Forecasts and Analysis
10.2.3 Europe Carbon Fiber Prepreg Market Forecasts and Analysis - By Manufacturing Process
10.2.4 Europe Carbon Fiber Prepreg Market Forecasts and Analysis - By Resin Type
10.2.5 Europe Carbon Fiber Prepreg Market Forecasts and Analysis - By End-Use Industry
10.2.6 Europe Carbon Fiber Prepreg Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Carbon Fiber Prepreg Market
10.2.6.1.1 Germany Carbon Fiber Prepreg Market by Manufacturing Process
10.2.6.1.2 Germany Carbon Fiber Prepreg Market by Resin Type
10.2.6.1.3 Germany Carbon Fiber Prepreg Market by End-Use Industry
10.2.6.2 France Carbon Fiber Prepreg Market
10.2.6.2.1 France Carbon Fiber Prepreg Market by Manufacturing Process
10.2.6.2.2 France Carbon Fiber Prepreg Market by Resin Type
10.2.6.2.3 France Carbon Fiber Prepreg Market by End-Use Industry
10.2.6.3 Italy Carbon Fiber Prepreg Market
10.2.6.3.1 Italy Carbon Fiber Prepreg Market by Manufacturing Process
10.2.6.3.2 Italy Carbon Fiber Prepreg Market by Resin Type
10.2.6.3.3 Italy Carbon Fiber Prepreg Market by End-Use Industry
10.2.6.4 United Kingdom Carbon Fiber Prepreg Market
10.2.6.4.1 United Kingdom Carbon Fiber Prepreg Market by Manufacturing Process
10.2.6.4.2 United Kingdom Carbon Fiber Prepreg Market by Resin Type
10.2.6.4.3 United Kingdom Carbon Fiber Prepreg Market by End-Use Industry
10.2.6.5 Russia Carbon Fiber Prepreg Market
10.2.6.5.1 Russia Carbon Fiber Prepreg Market by Manufacturing Process
10.2.6.5.2 Russia Carbon Fiber Prepreg Market by Resin Type
10.2.6.5.3 Russia Carbon Fiber Prepreg Market by End-Use Industry
10.2.6.6 Rest of Europe Carbon Fiber Prepreg Market
10.2.6.6.1 Rest of Europe Carbon Fiber Prepreg Market by Manufacturing Process
10.2.6.6.2 Rest of Europe Carbon Fiber Prepreg Market by Resin Type
10.2.6.6.3 Rest of Europe Carbon Fiber Prepreg Market by End-Use Industry
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Carbon Fiber Prepreg Market Overview
10.3.2 Asia-Pacific Carbon Fiber Prepreg Market Forecasts and Analysis
10.3.3 Asia-Pacific Carbon Fiber Prepreg Market Forecasts and Analysis - By Manufacturing Process
10.3.4 Asia-Pacific Carbon Fiber Prepreg Market Forecasts and Analysis - By Resin Type
10.3.5 Asia-Pacific Carbon Fiber Prepreg Market Forecasts and Analysis - By End-Use Industry
10.3.6 Asia-Pacific Carbon Fiber Prepreg Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Carbon Fiber Prepreg Market
10.3.6.1.1 Australia Carbon Fiber Prepreg Market by Manufacturing Process
10.3.6.1.2 Australia Carbon Fiber Prepreg Market by Resin Type
10.3.6.1.3 Australia Carbon Fiber Prepreg Market by End-Use Industry
10.3.6.2 China Carbon Fiber Prepreg Market
10.3.6.2.1 China Carbon Fiber Prepreg Market by Manufacturing Process
10.3.6.2.2 China Carbon Fiber Prepreg Market by Resin Type
10.3.6.2.3 China Carbon Fiber Prepreg Market by End-Use Industry
10.3.6.3 India Carbon Fiber Prepreg Market
10.3.6.3.1 India Carbon Fiber Prepreg Market by Manufacturing Process
10.3.6.3.2 India Carbon Fiber Prepreg Market by Resin Type
10.3.6.3.3 India Carbon Fiber Prepreg Market by End-Use Industry
10.3.6.4 Japan Carbon Fiber Prepreg Market
10.3.6.4.1 Japan Carbon Fiber Prepreg Market by Manufacturing Process
10.3.6.4.2 Japan Carbon Fiber Prepreg Market by Resin Type
10.3.6.4.3 Japan Carbon Fiber Prepreg Market by End-Use Industry
10.3.6.5 South Korea Carbon Fiber Prepreg Market
10.3.6.5.1 South Korea Carbon Fiber Prepreg Market by Manufacturing Process
10.3.6.5.2 South Korea Carbon Fiber Prepreg Market by Resin Type
10.3.6.5.3 South Korea Carbon Fiber Prepreg Market by End-Use Industry
10.3.6.6 Rest of Asia-Pacific Carbon Fiber Prepreg Market
10.3.6.6.1 Rest of Asia-Pacific Carbon Fiber Prepreg Market by Manufacturing Process
10.3.6.6.2 Rest of Asia-Pacific Carbon Fiber Prepreg Market by Resin Type
10.3.6.6.3 Rest of Asia-Pacific Carbon Fiber Prepreg Market by End-Use Industry
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Carbon Fiber Prepreg Market Overview
10.4.2 Middle East and Africa Carbon Fiber Prepreg Market Forecasts and Analysis
10.4.3 Middle East and Africa Carbon Fiber Prepreg Market Forecasts and Analysis - By Manufacturing Process
10.4.4 Middle East and Africa Carbon Fiber Prepreg Market Forecasts and Analysis - By Resin Type
10.4.5 Middle East and Africa Carbon Fiber Prepreg Market Forecasts and Analysis - By End-Use Industry
10.4.6 Middle East and Africa Carbon Fiber Prepreg Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Carbon Fiber Prepreg Market
10.4.6.1.1 South Africa Carbon Fiber Prepreg Market by Manufacturing Process
10.4.6.1.2 South Africa Carbon Fiber Prepreg Market by Resin Type
10.4.6.1.3 South Africa Carbon Fiber Prepreg Market by End-Use Industry
10.4.6.2 Saudi Arabia Carbon Fiber Prepreg Market
10.4.6.2.1 Saudi Arabia Carbon Fiber Prepreg Market by Manufacturing Process
10.4.6.2.2 Saudi Arabia Carbon Fiber Prepreg Market by Resin Type
10.4.6.2.3 Saudi Arabia Carbon Fiber Prepreg Market by End-Use Industry
10.4.6.3 U.A.E Carbon Fiber Prepreg Market
10.4.6.3.1 U.A.E Carbon Fiber Prepreg Market by Manufacturing Process
10.4.6.3.2 U.A.E Carbon Fiber Prepreg Market by Resin Type
10.4.6.3.3 U.A.E Carbon Fiber Prepreg Market by End-Use Industry
10.4.6.4 Rest of Middle East and Africa Carbon Fiber Prepreg Market
10.4.6.4.1 Rest of Middle East and Africa Carbon Fiber Prepreg Market by Manufacturing Process
10.4.6.4.2 Rest of Middle East and Africa Carbon Fiber Prepreg Market by Resin Type
10.4.6.4.3 Rest of Middle East and Africa Carbon Fiber Prepreg Market by End-Use Industry
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Carbon Fiber Prepreg Market Overview
10.5.2 South and Central America Carbon Fiber Prepreg Market Forecasts and Analysis
10.5.3 South and Central America Carbon Fiber Prepreg Market Forecasts and Analysis - By Manufacturing Process
10.5.4 South and Central America Carbon Fiber Prepreg Market Forecasts and Analysis - By Resin Type
10.5.5 South and Central America Carbon Fiber Prepreg Market Forecasts and Analysis - By End-Use Industry
10.5.6 South and Central America Carbon Fiber Prepreg Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Carbon Fiber Prepreg Market
10.5.6.1.1 Brazil Carbon Fiber Prepreg Market by Manufacturing Process
10.5.6.1.2 Brazil Carbon Fiber Prepreg Market by Resin Type
10.5.6.1.3 Brazil Carbon Fiber Prepreg Market by End-Use Industry
10.5.6.2 Argentina Carbon Fiber Prepreg Market
10.5.6.2.1 Argentina Carbon Fiber Prepreg Market by Manufacturing Process
10.5.6.2.2 Argentina Carbon Fiber Prepreg Market by Resin Type
10.5.6.2.3 Argentina Carbon Fiber Prepreg Market by End-Use Industry
10.5.6.3 Rest of South and Central America Carbon Fiber Prepreg Market
10.5.6.3.1 Rest of South and Central America Carbon Fiber Prepreg Market by Manufacturing Process
10.5.6.3.2 Rest of South and Central America Carbon Fiber Prepreg Market by Resin Type
10.5.6.3.3 Rest of South and Central America Carbon Fiber Prepreg Market by End-Use Industry
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. CARBON FIBER PREPREG MARKET, KEY COMPANY PROFILES
12.1. AXIOM MATERIALS
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. GURIT HOLDING AG
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. HEXCEL 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. MITSUBISHI RAYON CO. LTD.
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. PARK ELECTROCHEMICAL CORPORATION
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. ROYAL TENCATE N.V.
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. SGL GROUP
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. SOLVAY
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. TEIJIN LIMITED
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. TORAY INDUSTRIES INC.
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. Axiom Materials
2. Gurit Holding Ag
3. Hexcel Corporation
4. Mitsubishi Rayon Co. Ltd.
5. Park Electrochemical Corporation
6. Royal Tencate N.V.
7. SGL Group
8. Solvay
9. Teijin Limited
10. Toray Industries Inc.
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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