Coil Coating Market Opportunities 2031
The Coil Coating Market is expected to register a CAGR of 4% 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 Resin Type (Polyester, Polyvinylidene Fluoride (PVDF), Polyurethane (PU), Plastisol, and Others). The report is also segmented by End-Use Industry (Building and Construction, Automotive, HVAC, Industrial and Domestic Appliances, Furniture, and Others). The report scope covers 5 regions: North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America and key countries under each region. The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Coil Coating Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Coil Coating Market Segmentation
Resin Type- Polyester
- Polyvinylidene Fluoride
- Polyurethane
- Plastisol
- Building and Construction
- Automotive
- HVAC
- Industrial and Domestic Appliances
- Furniture
Strategic Insights
Coil Coating Market Growth Drivers- Coil Coatings Enhance Durability and Design in Construction: The climatic changes and other factors have resulted in the growing interest in different industries. One of the industries that have experienced tremendous growth is the coil coating industry, which has for its part many factors that are contributing to its growth. The Building construction industries involve coil coatings that prevent UV rays and enhance building design and durability. Modern construction techniques focus on the art of construction and the materials used and how long these buildings will last, hence the use of coil coatings.
- Energy Efficiency Drives Increased Adoption of Coil Coatings: As energy efficiency has become the primary focus, coil coatings are being adopted much more owing to its capabilities of improving thermal insulation, therefore, minimizing energy consumption in buildings. This is in line with the worldwide sustainability agendas, and therefore pushing the manufacturers to go for more sophisticated coil coating systems.
- Technological Advancements Improve Coil Coating Quality and Versatility: Technological advancements of coil coating equipment, for instance, by improving the formulations and other application techniques, are improving the quality of the products. These enhancements facilitate great durability, ability to withstand corrosion and eco-friendly nature of the coil coatings making it fit for use in other industries apart from the building and construction sector like the motor and domestic appliance industries.
- Shift to Eco-Friendly Coil Coatings Driven by Environmental Regulations: In recent years there has been a significant shift towards environmentally friendly coil coatings, due to tightened environmental rules and consumers striving towards more eco-friendly products. More and more manufacturers are introducing low-VOC and water-borne coatings that help mitigate environmental impact while achieving the performance and durability in various fields of application.
- Technological Advances Enhance Functionality and Efficiency of Coil Coatings: Certain advances within coil coating technologies are improving product functionality and operating efficiency. Logical developments have recovery of adhesive and corrosion protection characteristics, as well as their decorative features; therefore coil coating is more attractive for many industries, notably construction and automobile, which have wide usage of such coatings.
- Rising Demand for Customized and Decorative Coil Coatings: The trends towards customized and decorative finishes are on the rise especially in the construction and appliance industry. Coil coatings are being developed allowing specific color schemes and textures to fit the required design of a given product improving the product’s overall aesthetics.
- Opportunities in Coil-Coated Steel for Construction and Automotive Sectors: With the construction and automobile sectors seeking for lighter and more energy efficient materials there exists a lucrative opportunity. Coil-coated steel is both strong and decorative making it suitable for contemporary architecture and vehicle manufacturing which in turn opts the market.
- Growing Demand for Coil Coatings in Home Improvements: The rising interest in home capital improvements is resulting in an increased demand for coil coating. As individuals go on to improve their dwellings with specific coatings, a coil coating is a fit product as it adds value both to the usage of the coating in the building as well as the appearance of the building.
- Innovations in Smart Coil Coatings with Self-Cleaning and Antimicrobial Features: The advances made towards the smart coil coatings creation with the likes of self-cleaning and antimicrobial features brings about an exciting opportunity. Such high performance coatings are designed to satisfy changing consumer demands especially for creative and easy to care for art products which enables manufactures to collect more market shares with their products and develop their range of products.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Coil Coating Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Coil Coating Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
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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
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
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to country scope.
Frequently Asked Questions
The Coil Coating Market is estimated to witness a CAGR of 4% from 2023 to 2031
Strong growth in the construction sector is driving the market growth
Rising focus on sustainability is likely to remain the key trend in the market.
Akzonobel N.V; ALTANA AG; Axalta Coating Systems; BASF SE; Becker Group; Henkel AG and Co. KGaA; Nippon Paint; PPG Industries; Sherwin Williams Company; and Wacker Chemie AG are among the leading players operating in the coil coatings market.
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
Based on geography, Asia Pacific held the largest share of the coil coatings market.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Coil Coating Market - By Resin Type
1.3.2 Coil Coating Market - By Metal
1.3.3 Coil Coating Market - By End-User
1.3.4 Coil Coating Market - By Region
1.3.4.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. COIL COATING 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. COIL COATING 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. COIL COATING MARKET - GLOBAL MARKET ANALYSIS
6.1. COIL COATING - GLOBAL MARKET OVERVIEW
6.2. COIL COATING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. COIL COATING MARKET - REVENUE AND FORECASTS TO 2028 – RESIN TYPE
7.1. OVERVIEW
7.2. RESIN TYPE MARKET FORECASTS AND ANALYSIS
7.3. POLYESTER
7.3.1. Overview
7.3.2. Polyester Market Forecast and Analysis
7.4. POLYVINYLIDENE FLUORIDES (PVDF)
7.4.1. Overview
7.4.2. Polyvinylidene Fluorides (PVDF) Market Forecast and Analysis
7.5. POLYURETHANE (PU)
7.5.1. Overview
7.5.2. Polyurethane (PU) Market Forecast and Analysis
7.6. PLASTISOLS
7.6.1. Overview
7.6.2. Plastisols Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. COIL COATING MARKET - REVENUE AND FORECASTS TO 2028 – METAL
8.1. OVERVIEW
8.2. METAL MARKET FORECASTS AND ANALYSIS
8.3. STEEL
8.3.1. Overview
8.3.2. Steel Market Forecast and Analysis
8.4. COPPER
8.4.1. Overview
8.4.2. Copper Market Forecast and Analysis
8.5. ALUMINUM
8.5.1. Overview
8.5.2. Aluminum Market Forecast and Analysis
8.6. BRASS
8.6.1. Overview
8.6.2. Brass Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. COIL COATING MARKET - REVENUE AND FORECASTS TO 2028 – END-USER
9.1. OVERVIEW
9.2. END-USER MARKET FORECASTS AND ANALYSIS
9.3. BUILDING AND CONSTRUCTION
9.3.1. Overview
9.3.2. Building and Construction Market Forecast and Analysis
9.4. AUTOMOTIVE
9.4.1. Overview
9.4.2. Automotive Market Forecast and Analysis
9.5. HVAC
9.5.1. Overview
9.5.2. HVAC Market Forecast and Analysis
9.6. INDUSTRIAL AND DOMESTIC APPLIANCES
9.6.1. Overview
9.6.2. Industrial and Domestic Appliances Market Forecast and Analysis
9.7. FURNITURE
9.7.1. Overview
9.7.2. Furniture Market Forecast and Analysis
9.8. OTHERS
9.8.1. Overview
9.8.2. Others Market Forecast and Analysis
10. COIL COATING MARKET REVENUE AND FORECASTS TO 2028 – GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
- 10.1.1 North America Coil Coating Market Overview
- 10.1.2 North America Coil Coating Market Forecasts and Analysis
- 10.1.3 North America Coil Coating Market Forecasts and Analysis - By Resin Type
- 10.1.4 North America Coil Coating Market Forecasts and Analysis - By Metal
- 10.1.5 North America Coil Coating Market Forecasts and Analysis - By End-User
- 10.1.6 North America Coil Coating Market Forecasts and Analysis - By Countries
10.1.6.1 Canada Coil Coating Market
10.1.6.1.1 Canada Coil Coating Market by Resin Type10.1.6.1.2 Canada Coil Coating Market by Metal10.1.6.1.3 Canada Coil Coating Market by End-User10.1.6.2 Mexico Coil Coating Market
10.1.6.2.1 Mexico Coil Coating Market by Resin Type10.1.6.2.2 Mexico Coil Coating Market by Metal10.1.6.2.3 Mexico Coil Coating Market by End-User10.1.6.3 US Coil Coating Market
10.1.6.3.1 US Coil Coating Market by Resin Type10.1.6.3.2 US Coil Coating Market by Metal10.1.6.3.3 US Coil Coating Market by End-User10.2. EUROPE
- 10.2.1 Europe Coil Coating Market Overview
- 10.2.2 Europe Coil Coating Market Forecasts and Analysis
- 10.2.3 Europe Coil Coating Market Forecasts and Analysis - By Resin Type
- 10.2.4 Europe Coil Coating Market Forecasts and Analysis - By Metal
- 10.2.5 Europe Coil Coating Market Forecasts and Analysis - By End-User
- 10.2.6 Europe Coil Coating Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Coil Coating Market
10.2.6.1.1 Germany Coil Coating Market by Resin Type10.2.6.1.2 Germany Coil Coating Market by Metal10.2.6.1.3 Germany Coil Coating Market by End-User10.2.6.2 France Coil Coating Market
10.2.6.2.1 France Coil Coating Market by Resin Type10.2.6.2.2 France Coil Coating Market by Metal10.2.6.2.3 France Coil Coating Market by End-User10.2.6.3 Italy Coil Coating Market
10.2.6.3.1 Italy Coil Coating Market by Resin Type10.2.6.3.2 Italy Coil Coating Market by Metal10.2.6.3.3 Italy Coil Coating Market by End-User10.2.6.4 United Kingdom Coil Coating Market
10.2.6.4.1 United Kingdom Coil Coating Market by Resin Type10.2.6.4.2 United Kingdom Coil Coating Market by Metal10.2.6.4.3 United Kingdom Coil Coating Market by End-User10.2.6.5 Russia Coil Coating Market
10.2.6.5.1 Russia Coil Coating Market by Resin Type10.2.6.5.2 Russia Coil Coating Market by Metal10.2.6.5.3 Russia Coil Coating Market by End-User10.2.6.6 Rest of Europe Coil Coating Market
10.2.6.6.1 Rest of Europe Coil Coating Market by Resin Type10.2.6.6.2 Rest of Europe Coil Coating Market by Metal10.2.6.6.3 Rest of Europe Coil Coating Market by End-User10.3. ASIA-PACIFIC
- 10.3.1 Asia-Pacific Coil Coating Market Overview
- 10.3.2 Asia-Pacific Coil Coating Market Forecasts and Analysis
- 10.3.3 Asia-Pacific Coil Coating Market Forecasts and Analysis - By Resin Type
- 10.3.4 Asia-Pacific Coil Coating Market Forecasts and Analysis - By Metal
- 10.3.5 Asia-Pacific Coil Coating Market Forecasts and Analysis - By End-User
- 10.3.6 Asia-Pacific Coil Coating Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Coil Coating Market
10.3.6.1.1 Australia Coil Coating Market by Resin Type10.3.6.1.2 Australia Coil Coating Market by Metal10.3.6.1.3 Australia Coil Coating Market by End-User10.3.6.2 China Coil Coating Market
10.3.6.2.1 China Coil Coating Market by Resin Type10.3.6.2.2 China Coil Coating Market by Metal10.3.6.2.3 China Coil Coating Market by End-User10.3.6.3 India Coil Coating Market
10.3.6.3.1 India Coil Coating Market by Resin Type10.3.6.3.2 India Coil Coating Market by Metal10.3.6.3.3 India Coil Coating Market by End-User10.3.6.4 Japan Coil Coating Market
10.3.6.4.1 Japan Coil Coating Market by Resin Type10.3.6.4.2 Japan Coil Coating Market by Metal10.3.6.4.3 Japan Coil Coating Market by End-User10.3.6.5 South Korea Coil Coating Market
10.3.6.5.1 South Korea Coil Coating Market by Resin Type10.3.6.5.2 South Korea Coil Coating Market by Metal10.3.6.5.3 South Korea Coil Coating Market by End-User10.3.6.6 Rest of Asia-Pacific Coil Coating Market
10.3.6.6.1 Rest of Asia-Pacific Coil Coating Market by Resin Type10.3.6.6.2 Rest of Asia-Pacific Coil Coating Market by Metal10.3.6.6.3 Rest of Asia-Pacific Coil Coating Market by End-User10.4. MIDDLE EAST AND AFRICA
- 10.4.1 Middle East and Africa Coil Coating Market Overview
- 10.4.2 Middle East and Africa Coil Coating Market Forecasts and Analysis
- 10.4.3 Middle East and Africa Coil Coating Market Forecasts and Analysis - By Resin Type
- 10.4.4 Middle East and Africa Coil Coating Market Forecasts and Analysis - By Metal
- 10.4.5 Middle East and Africa Coil Coating Market Forecasts and Analysis - By End-User
- 10.4.6 Middle East and Africa Coil Coating Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Coil Coating Market
10.4.6.1.1 South Africa Coil Coating Market by Resin Type10.4.6.1.2 South Africa Coil Coating Market by Metal10.4.6.1.3 South Africa Coil Coating Market by End-User10.4.6.2 U.A.E Coil Coating Market
10.4.6.2.1 U.A.E Coil Coating Market by Resin Type10.4.6.2.2 U.A.E Coil Coating Market by Metal10.4.6.2.3 U.A.E Coil Coating Market by End-User10.4.6.3 Rest of Middle East and Africa Coil Coating Market
10.4.6.3.1 Rest of Middle East and Africa Coil Coating Market by Resin Type10.4.6.3.2 Rest of Middle East and Africa Coil Coating Market by Metal10.4.6.3.3 Rest of Middle East and Africa Coil Coating Market by End-User10.5. SOUTH AND CENTRAL AMERICA
- 10.5.1 South and Central America Coil Coating Market Overview
- 10.5.2 South and Central America Coil Coating Market Forecasts and Analysis
- 10.5.3 South and Central America Coil Coating Market Forecasts and Analysis - By Resin Type
- 10.5.4 South and Central America Coil Coating Market Forecasts and Analysis - By Metal
- 10.5.5 South and Central America Coil Coating Market Forecasts and Analysis - By End-User
- 10.5.6 South and Central America Coil Coating Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Coil Coating Market
10.5.6.1.1 Brazil Coil Coating Market by Resin Type10.5.6.1.2 Brazil Coil Coating Market by Metal10.5.6.1.3 Brazil Coil Coating Market by End-User10.5.6.2 Argentina Coil Coating Market10.5.6.2.1 Argentina Coil Coating Market by Resin Type10.5.6.2.2 Argentina Coil Coating Market by Metal10.5.6.2.3 Argentina Coil Coating Market by End-User3
10.5.6.3 Rest of South and Central America Coil Coating Market10.5.6.3.1 Rest of South and Central America Coil Coating Market by Resin Type10.5.6.3.2 Rest of South and Central America Coil Coating Market by Metal10.5.6.3.3 Rest of South and Central America Coil Coating Market by End-User
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. COIL COATING MARKET, KEY COMPANY PROFILES
12.1. AKZONOBEL N.V.
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. ALTANA 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. AXALTA COATING SYSTEMS
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. BASF SE
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. BECKER GROUP
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. HENKEL AG AND CO. KGAA
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. NIPPON PAINT
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. PPG INDUSTRIES
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. SHERWIN WILLIAMS COMPANY
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. WACKER CHEMIE AG
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
The List of Companies
- Akzonobel N.V.
- ALTANA AG
- Axalta Coating Systems
- BASF SE
- Becker Group
- Henkel AG and Co. KGaA
- Nippon Paint
- PPG Industries
- Sherwin Williams Company
- Wacker Chemie AG
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.