Cyanoacrylate Adhesive Market Report (2021-2031)
The Cyanoacrylate Adhesive Market is expected to register a CAGR of 5.0% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The cyanoacrylate adhesive market is segmented into type, end-use industry, and geography. Based on type, the market is segmented into ethyl ester, alkoxy ester, methyl ester, and others. Based on end-use industry, the market is segmented into automotive, aerospace, building and construction, woodworking, electrical and electronics, consumer goods, and others. The report scope covers five 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 the regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Cyanoacrylate Adhesive 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.
Cyanoacrylate Adhesive Market Segmentation
Type- Ethyl Ester
- Alkoxy Ester
- Methyl Ester
- Others
- Automotive
- Aerospace
- Building and Construction
- Woodworking
- Electrical and Electronics
- Consumer Goods
- Others
Strategic Insights
Cyanoacrylate Adhesive Market Growth Drivers- Demand Across Automotive, Electronics, and Healthcare: Growing demand from various industries is the basis of the growth in the market. The growth in the cyanoacrylate adhesive market is primarily driven by significant growth in applications in various industries, including automotive, electronics, healthcare, and construction. These adhesives are known for fast bonding capabilities and versatility as they are used in assembly and repair processes, and hence high manufacturing activities and product assembly in these sectors create significant demand.
- Better Formulation Technologies: Advances in adhesive formulations have resulted in better performance properties of cyanoacrylate adhesives. Improvement in heat shock and moisture resistance has made it a sought-after product. Additionally, the continuous pursuit of establishing a formulation that fits a specific type of application remains one of the key growth drivers.
- Increased Consumer Understanding of Quick Fix Solutions: As consumers have become increasingly DIY-oriented, their home repairs and crafting are increasingly built around a preference for quick-fix solutions. For hobbyists and other types of DIYers, cyanoacrylate-based adhesives are favorites because they are easy to use and bond quickly. This is driving heightened acceptance and utilization of cyanoacrylate adhesives in everyday applications.
- Eco-Friendly Adhesives: As environmental factors grow in the market, there is a trend towards the development of cyanoacrylates which are eco-friendly. Bio-based formulations are surfacing, and harmful solvents are being eradicated. This is a shift in line with global sustainability initiatives and regulatory pressures, forcing the markets to innovate.
- Integration of Smart Technologies: The adhesives industry is going through digital transformation, with smart technologies changing production processes and product offerings. These new ones are smart packaging solutions that can indicate adhesive curing status or environmental conditions. Such innovations improve user experience and application efficiency, which makes cyanoacrylate adhesives at least attractive both to consumers and businesses.
- Interest in medical applications: Cyanoacrylates are increasingly gaining popularity in medical applications mainly in the form of wound closure and surgery. Strong bonding properties contribute to their appeal as an alternative to sutures and staples, especially in the common context of a skin bond. This trend follows closely with acceptance within the healthcare sector for adhesive solutions, which further opens avenues for future market expansions.
- Growth Potential in Emerging Markets: Growth Potential in Emerging Markets Such growth opportunities are available in emerging markets like Asia-Pacific, Latin America, and Africa. Areas that are rapidly industrializing and urbanizing present demand for cyanoacrylate adhesives in applications. Companies can form local partnerships and further tailor products to suit local requirements in these markets.
- Product Diversification and Customization: Product lines can be diversified by developing special purposed cyanoacrylate adhesives for niche applications. Formulations especially designed for some industries, such as motor repair or electronic assembly shall capture market share. Further differences shall be created by improvements that enhance performance, for example, chemical or temperature resistance.
- Strategic Alliances and Partnerships: Strategic alliances with the key players in the automotive, electronics, or healthcare industries can foster synergies and trigger acceleration. Research and development collaborations may lead to innovative products and applications or partnering in the distribution area may help create more reach to the markets and consumer engagement.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Cyanoacrylate Adhesive 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 Cyanoacrylate Adhesive Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Shift towards eco-friendly adhesives is expected to be the key market trend.
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
On the basis of geography, the cyanoacrylate adhesive market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America
3M, Arkema, CHEMENCE, H.B. Fuller Company., Henkel Adhesive Technologies, Jowat, Master Bond Inc., Pidilite Industries Limited, Hernon Manufacturing, and Permabond LLC. are some of the players operating in the market.
The Cyanoacrylate Adhesive Market is estimated to witness a CAGR of 5.0% from 2023 to 2031
The major factors driving the cyanoacrylate adhesive market are:
1.Increasing Demand in Various Industries
2. Advancements in Formulation Technologies
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Cyanoacrylate Adhesive Market - By Product Type
1.3.2Cyanoacrylate Adhesive Market - By End-use
1.3.3Cyanoacrylate Adhesive Market - By Region
1.3.3.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.CYANOACRYLATE ADHESIVE MARKET L and SCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.EXPERT OPINIONS
5.CYANOACRYLATE ADHESIVE 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.CYANOACRYLATE ADHESIVE MARKET - GLOBAL MARKET ANALYSIS
6.1.CYANOACRYLATE ADHESIVE - GLOBAL MARKET OVERVIEW
6.2.CYANOACRYLATE ADHESIVE - GLOBAL MARKET and FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.CYANOACRYLATE ADHESIVE MARKET - REVENUE and FORECASTS TO 2028 - PRODUCT TYPE
7.1.OVERVIEW
7.2.PRODUCT TYPE MARKET FORECASTS and ANALYSIS
7.3.ALKOXY ETHYL-BASED
7.3.1.Overview
7.3.2.Alkoxy Ethyl-based Market Forecast and Analysis
7.4.ETHYL ESTER-BASED
7.4.1.Overview
7.4.2.Ethyl Ester-based Market Forecast and Analysis
7.5.METHYL ESTER-BASED
7.5.1.Overview
7.5.2.Methyl Ester-based Market Forecast and Analysis
7.6.OTHER PRODUCT TYPES
7.6.1.Overview
7.6.2.Other Product Types Market Forecast and Analysis
8.CYANOACRYLATE ADHESIVE MARKET - REVENUE and FORECASTS TO 2028 - END-USE
8.1.OVERVIEW
8.2.END-USE MARKET FORECASTS and ANALYSIS
8.3.TRANSPORTATION
8.3.1.Overview
8.3.2.Transportation Market Forecast and Analysis
8.4.FOOTWEAR and LEATHER
8.4.1.Overview
8.4.2.Footwear and Leather Market Forecast and Analysis
8.5.FURNITURE
8.5.1.Overview
8.5.2.Furniture Market Forecast and Analysis
8.6.CONSUMER GOODS
8.6.1.Overview
8.6.2.Consumer Goods Market Forecast and Analysis
8.7.HEALTHCARE
8.7.1.Overview
8.7.2.Healthcare Market Forecast and Analysis
8.8.ELECTRONICS
8.8.1.Overview
8.8.2.Electronics Market Forecast and Analysis
8.9.OTHER END-USES
8.9.1.Overview
8.9.2.Other End-uses Market Forecast and Analysis
9.CYANOACRYLATE ADHESIVE MARKET REVENUE and FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1.NORTH AMERICA
9.1.1North America Cyanoacrylate Adhesive Market Overview
9.1.2North America Cyanoacrylate Adhesive Market Forecasts and Analysis
9.1.3North America Cyanoacrylate Adhesive Market Forecasts and Analysis - By Product Type
9.1.4North America Cyanoacrylate Adhesive Market Forecasts and Analysis - By End-use
9.1.5North America Cyanoacrylate Adhesive Market Forecasts and Analysis - By Countries
9.1.5.1Canada Cyanoacrylate Adhesive Market
9.1.5.1.1Canada Cyanoacrylate Adhesive Market by Product Type
9.1.5.1.2Canada Cyanoacrylate Adhesive Market by End-use
9.1.5.2Mexico Cyanoacrylate Adhesive Market
9.1.5.2.1Mexico Cyanoacrylate Adhesive Market by Product Type
9.1.5.2.2Mexico Cyanoacrylate Adhesive Market by End-use
9.1.5.3US Cyanoacrylate Adhesive Market
9.1.5.3.1US Cyanoacrylate Adhesive Market by Product Type
9.1.5.3.2US Cyanoacrylate Adhesive Market by End-use
9.2.EUROPE
9.2.1Europe Cyanoacrylate Adhesive Market Overview
9.2.2Europe Cyanoacrylate Adhesive Market Forecasts and Analysis
9.2.3Europe Cyanoacrylate Adhesive Market Forecasts and Analysis - By Product Type
9.2.4Europe Cyanoacrylate Adhesive Market Forecasts and Analysis - By End-use
9.2.5Europe Cyanoacrylate Adhesive Market Forecasts and Analysis - By Countries
9.2.5.1Germany Cyanoacrylate Adhesive Market
9.2.5.1.1Germany Cyanoacrylate Adhesive Market by Product Type
9.2.5.1.2Germany Cyanoacrylate Adhesive Market by End-use
9.2.5.2France Cyanoacrylate Adhesive Market
9.2.5.2.1France Cyanoacrylate Adhesive Market by Product Type
9.2.5.2.2France Cyanoacrylate Adhesive Market by End-use
9.2.5.3Italy Cyanoacrylate Adhesive Market
9.2.5.3.1Italy Cyanoacrylate Adhesive Market by Product Type
9.2.5.3.2Italy Cyanoacrylate Adhesive Market by End-use
9.2.5.4United Kingdom Cyanoacrylate Adhesive Market
9.2.5.4.1United Kingdom Cyanoacrylate Adhesive Market by Product Type
9.2.5.4.2United Kingdom Cyanoacrylate Adhesive Market by End-use
9.2.5.5Russia Cyanoacrylate Adhesive Market
9.2.5.5.1Russia Cyanoacrylate Adhesive Market by Product Type
9.2.5.5.2Russia Cyanoacrylate Adhesive Market by End-use
9.2.5.6Rest of Europe Cyanoacrylate Adhesive Market
9.2.5.6.1Rest of Europe Cyanoacrylate Adhesive Market by Product Type
9.2.5.6.2Rest of Europe Cyanoacrylate Adhesive Market by End-use
9.3.ASIA-PACIFIC
9.3.1Asia-Pacific Cyanoacrylate Adhesive Market Overview
9.3.2Asia-Pacific Cyanoacrylate Adhesive Market Forecasts and Analysis
9.3.3Asia-Pacific Cyanoacrylate Adhesive Market Forecasts and Analysis - By Product Type
9.3.4Asia-Pacific Cyanoacrylate Adhesive Market Forecasts and Analysis - By End-use
9.3.5Asia-Pacific Cyanoacrylate Adhesive Market Forecasts and Analysis - By Countries
9.3.5.1Australia Cyanoacrylate Adhesive Market
9.3.5.1.1Australia Cyanoacrylate Adhesive Market by Product Type
9.3.5.1.2Australia Cyanoacrylate Adhesive Market by End-use
9.3.5.2China Cyanoacrylate Adhesive Market
9.3.5.2.1China Cyanoacrylate Adhesive Market by Product Type
9.3.5.2.2China Cyanoacrylate Adhesive Market by End-use
9.3.5.3India Cyanoacrylate Adhesive Market
9.3.5.3.1India Cyanoacrylate Adhesive Market by Product Type
9.3.5.3.2India Cyanoacrylate Adhesive Market by End-use
9.3.5.4Japan Cyanoacrylate Adhesive Market
9.3.5.4.1Japan Cyanoacrylate Adhesive Market by Product Type
9.3.5.4.2Japan Cyanoacrylate Adhesive Market by End-use
9.3.5.5South Korea Cyanoacrylate Adhesive Market
9.3.5.5.1South Korea Cyanoacrylate Adhesive Market by Product Type
9.3.5.5.2South Korea Cyanoacrylate Adhesive Market by End-use
9.3.5.6Rest of Asia-Pacific Cyanoacrylate Adhesive Market
9.3.5.6.1Rest of Asia-Pacific Cyanoacrylate Adhesive Market by Product Type
9.3.5.6.2Rest of Asia-Pacific Cyanoacrylate Adhesive Market by End-use
9.4.MIDDLE EAST and AFRICA
9.4.1Middle East and Africa Cyanoacrylate Adhesive Market Overview
9.4.2Middle East and Africa Cyanoacrylate Adhesive Market Forecasts and Analysis
9.4.3Middle East and Africa Cyanoacrylate Adhesive Market Forecasts and Analysis - By Product Type
9.4.4Middle East and Africa Cyanoacrylate Adhesive Market Forecasts and Analysis - By End-use
9.4.5Middle East and Africa Cyanoacrylate Adhesive Market Forecasts and Analysis - By Countries
9.4.5.1South Africa Cyanoacrylate Adhesive Market
9.4.5.1.1South Africa Cyanoacrylate Adhesive Market by Product Type
9.4.5.1.2South Africa Cyanoacrylate Adhesive Market by End-use
9.4.5.2Saudi Arabia Cyanoacrylate Adhesive Market
9.4.5.2.1Saudi Arabia Cyanoacrylate Adhesive Market by Product Type
9.4.5.2.2Saudi Arabia Cyanoacrylate Adhesive Market by End-use
9.4.5.3U.A.E Cyanoacrylate Adhesive Market
9.4.5.3.1U.A.E Cyanoacrylate Adhesive Market by Product Type
9.4.5.3.2U.A.E Cyanoacrylate Adhesive Market by End-use
9.4.5.4Rest of Middle East and Africa Cyanoacrylate Adhesive Market
9.4.5.4.1Rest of Middle East and Africa Cyanoacrylate Adhesive Market by Product Type
9.4.5.4.2Rest of Middle East and Africa Cyanoacrylate Adhesive Market by End-use
9.5.SOUTH and CENTRAL AMERICA
9.5.1South and Central America Cyanoacrylate Adhesive Market Overview
9.5.2South and Central America Cyanoacrylate Adhesive Market Forecasts and Analysis
9.5.3South and Central America Cyanoacrylate Adhesive Market Forecasts and Analysis - By Product Type
9.5.4South and Central America Cyanoacrylate Adhesive Market Forecasts and Analysis - By End-use
9.5.5South and Central America Cyanoacrylate Adhesive Market Forecasts and Analysis - By Countries
9.5.5.1Brazil Cyanoacrylate Adhesive Market
9.5.5.1.1Brazil Cyanoacrylate Adhesive Market by Product Type
9.5.5.1.2Brazil Cyanoacrylate Adhesive Market by End-use
9.5.5.2Argentina Cyanoacrylate Adhesive Market
9.5.5.2.1Argentina Cyanoacrylate Adhesive Market by Product Type
9.5.5.2.2Argentina Cyanoacrylate Adhesive Market by End-use
9.5.5.3Rest of South and Central America Cyanoacrylate Adhesive Market
9.5.5.3.1Rest of South and Central America Cyanoacrylate Adhesive Market by Product Type
9.5.5.3.2Rest of South and Central America Cyanoacrylate Adhesive Market by End-use
10.INDUSTRY L and SCAPE
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.CYANOACRYLATE ADHESIVE MARKET, KEY COMPANY PROFILES
11.1.3M
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.ARKEMA GROUP
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.CHEMENCE
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.DUPONT DE NEMOURS INC.
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.H.B. FULLER COMPANY
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.HENKEL AG and CO. KGAA.
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.JOWAT SE.
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.MASTER BOND INC.
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.PERMABOND LLC.
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.PIDILITE INDUSTRIES LTD.
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
1. 3m2. Arkema Group3. Chemence4. Dupont De Nemours Inc. 5. H. B. Fuller Company6. Henkel Ag and Co. Kgaa. 7. Jowat Se. 8. Master Bond Inc. 9. Permabond Llc. 10. Pidilite Industries Ltd.
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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