The Decorative Coatings Market is expected to register a CAGR of 4.0% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The decorative coatings market is segmented into resin type, technology, and application. Based on resin type, the market is segmented into acrylic, alkyd, vinyl, epoxy, phenolic, and others. Based on technology, the decorative coatings market is segmented into Waterborne Coatings, Solventborne Coatings, and others. Based on application, the market is segmented into building and construction, automotive, aerospace, furniture, packaging, marine, 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 Decorative Coatings 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.
Decorative Coatings Market Segmentation
Resin Type- Acrylic
- Alkyd
- Vinyl
- Epoxy
- Phenolic
- Waterborne Coatings
- Solventborne Coatings
- Building and construction
- Automotive
- Aerospace
- Furniture
- Packaging
- Marine
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Decorative Coatings Market Growth Drivers- Urbanization and Infrastructure Development: Urbanization in emerging economies is much required for the growth of this market. People keep on moving to cities in more numbers; thus, it indirectly relates to an increased requirement for residential and commercial buildings. Consequently, the rise in construction activities increases the demand for these decorative coatings. Governments in different regions have undertaken massive infrastructural developments, thereby further hastening the growth of the market.
- Growing sustainability: There is a growing sustainability of the environment, which makes manufacturers improve on producing more decorative coatings that are environmentally friendly. Regulations, such as volatile organic compounds (VOCs) and dangerous chemicals, require less, influencing low VOC and water-based products. Consumers today prefer products that are sustained with the characteristics of being sustainable, which increases the pressure on manufacturers to come up with innovative and greener products that meet the requirements of regulatory standards.
- Technological Advancements in Coatings: With constant developments and new technologies, which include polymer systems and nanotechnology, decorative coatings are continuously improved in functionality and aesthetically pleasing. Some of the emerging categories in the decoration market are self-cleaning, anti-microbial properties, and durability. Improvement in product endurance-apart from all these will capture consumer preferences for high performance, hence driving market growth.
- Digitalization and Growth in E-commerce: The newcomer platforms of e-commerce have eased the marketing and distribution process with the decorative coatings. Online purchase of coatings has increased since consumers have emerged to prefer doing this with ease and availability of a wide range of products online. This has forced manufacturers to carry out digital strategy marketing to enhance their online presence for reach out to a larger market, mainly the youth who prefer shopping online.
- Color Trends and Customisation: Color trends are going to be an extremely important driver of the decorative coatings market, as consumers now seek more personalized and customized colors. Influenced by color forecasting services with Pantone's Colour of the Year-the determination of purchasing behavior for hue and finish, even brands are responding to this trend by offering colors with an amount of customizability such that consumers can produce colors that will finally match what they want or prefer.
- Growth Opportunities for the Decorative Coatings Market: Growth opportunities for the decorative coatings market are expected to significantly lie in emerging economies, particularly in Asia-Pacific and Latin America. Each of these regions has witnessed significant growth in disposable income, urbanization, and spending on home improvement and will continue to do so in the coming years. Such trends shall attract many companies to establish localized production facilities and distribution networks there to capitalize on this potential growth space.
- Smart Coatings: Smart coatings refer to the advanced functionalities of coatings, including their temperature regulation, self-healing properties, and ability to manage moisture. Smart coating may be a great new potential for manufacturers to tap into, as new generations of innovative and high-performance solutions require more companies to invest in research and development.
- Sustainable Product Development Environment Sustainability Opportunities for Companies Low VOC: High in Demand with Customers in the Decorative Coatings Market Environment-friendly products are quickly becoming a want among consumers, and companies within the decorative coatings market can garner significant opportunity herein. Low VOC, biodegradable, and sustainable coatings not only help manufacturers meet regulations and restrictions but can also garner high-in-demand-conscious consumers. Sustainability options can help companies set up better brand reputations while holding a large share of the market through such sustainability opportunities within their product line.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Decorative Coatings 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 Decorative Coatings 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
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
Growth in color trends and customization 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 decorative coatings market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America
The Sherwin-Williams Company, PPG Industries, Inc., Akzo Nobel N.V., BASF SE, Celanese Corporation, Hempel A/S, RPM International Inc., Nippon Paint Holdings Co., Ltd., Jotun, and Kansai Paint Co.,Ltd. are some of the players operating in the market.
The Decorative Coatings Market is estimated to witness a CAGR of 4.0% from 2023 to 2031
The major factors driving the decorative coatings market are:
1. Urbanization and Infrastructure Development
2. Environmental Regulations and Sustainability
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Decorative Coatings Market - By Resin
1.3.2Decorative Coatings Market - By Technology
1.3.3Decorative Coatings Market - By Application
1.3.4Decorative Coatings Market - By Region
1.3.4.1By Country
2.KEY TAKEWAYS
3.RESEARCH METHODOLOGY
4.DECORATIVE COATINGS MARKET LANDSCAPE
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.DECORATIVE COATINGS 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.DECORATIVE COATINGS MARKET - GLOBAL MARKET ANALYSIS
6.1.DECORATIVE COATINGS - GLOBAL MARKET OVERVIEW
6.2.DECORATIVE COATINGS - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.DECORATIVE COATINGS MARKET - REVENUE AND FORECASTS TO 2028 - RESIN
7.1.OVERVIEW
7.2.RESIN MARKET FORECASTS AND ANALYSIS
7.3.ACRYLICS
7.3.1.Overview
7.3.2.Acrylics Market Forecast and Analysis
7.4.POLYURETHANES
7.4.1.Overview
7.4.2.Polyurethanes Market Forecast and Analysis
7.5.ALKYDS
7.5.1.Overview
7.5.2.Alkyds Market Forecast and Analysis
7.6.VINYL ACETATE EMULSIONS
7.6.1.Overview
7.6.2.Vinyl Acetate Emulsions Market Forecast and Analysis
7.7.EPOXIES
7.7.1.Overview
7.7.2.Epoxies Market Forecast and Analysis
7.8.OTHERS
7.8.1.Overview
7.8.2.Others Market Forecast and Analysis
8.DECORATIVE COATINGS MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
8.1.OVERVIEW
8.2.TECHNOLOGY MARKET FORECASTS AND ANALYSIS
8.3.WATER-BORNE
8.3.1.Overview
8.3.2.Water-borne Market Forecast and Analysis
8.4.SOLVENT-BORNE
8.4.1.Overview
8.4.2.Solvent-borne Market Forecast and Analysis
8.5.UV-CURED
8.5.1.Overview
8.5.2.UV-cured Market Forecast and Analysis
8.6.OTHERS
8.6.1.Overview
8.6.2.Others Market Forecast and Analysis
9.DECORATIVE COATINGS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1.OVERVIEW
9.2.APPLICATION MARKET FORECASTS AND ANALYSIS
9.3.RESIDENTIAL
9.3.1.Overview
9.3.2.Residential Market Forecast and Analysis
9.4.NON-RESIDENTIAL
9.4.1.Overview
9.4.2.Non-residential Market Forecast and Analysis
10.DECORATIVE COATINGS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America Decorative Coatings Market Overview
10.1.2North America Decorative Coatings Market Forecasts and Analysis
10.1.3North America Decorative Coatings Market Forecasts and Analysis - By Resin
10.1.4North America Decorative Coatings Market Forecasts and Analysis - By Technology
10.1.5North America Decorative Coatings Market Forecasts and Analysis - By Application
10.1.6North America Decorative Coatings Market Forecasts and Analysis - By Countries
10.1.6.1United States Decorative Coatings Market
10.1.6.1.1United States Decorative Coatings Market by Resin
10.1.6.1.2United States Decorative Coatings Market by Technology
10.1.6.1.3United States Decorative Coatings Market by Application
10.1.6.2Canada Decorative Coatings Market
10.1.6.2.1Canada Decorative Coatings Market by Resin
10.1.6.2.2Canada Decorative Coatings Market by Technology
10.1.6.2.3Canada Decorative Coatings Market by Application
10.1.6.3Mexico Decorative Coatings Market
10.1.6.3.1Mexico Decorative Coatings Market by Resin
10.1.6.3.2Mexico Decorative Coatings Market by Technology
10.1.6.3.3Mexico Decorative Coatings Market by Application
10.2.EUROPE
10.2.1Europe Decorative Coatings Market Overview
10.2.2Europe Decorative Coatings Market Forecasts and Analysis
10.2.3Europe Decorative Coatings Market Forecasts and Analysis - By Resin
10.2.4Europe Decorative Coatings Market Forecasts and Analysis - By Technology
10.2.5Europe Decorative Coatings Market Forecasts and Analysis - By Application
10.2.6Europe Decorative Coatings Market Forecasts and Analysis - By Countries
10.2.6.1Germany Decorative Coatings Market
10.2.6.1.1Germany Decorative Coatings Market by Resin
10.2.6.1.2Germany Decorative Coatings Market by Technology
10.2.6.1.3Germany Decorative Coatings Market by Application
10.2.6.2France Decorative Coatings Market
10.2.6.2.1France Decorative Coatings Market by Resin
10.2.6.2.2France Decorative Coatings Market by Technology
10.2.6.2.3France Decorative Coatings Market by Application
10.2.6.3Italy Decorative Coatings Market
10.2.6.3.1Italy Decorative Coatings Market by Resin
10.2.6.3.2Italy Decorative Coatings Market by Technology
10.2.6.3.3Italy Decorative Coatings Market by Application
10.2.6.4United Kingdom Decorative Coatings Market
10.2.6.4.1United Kingdom Decorative Coatings Market by Resin
10.2.6.4.2United Kingdom Decorative Coatings Market by Technology
10.2.6.4.3United Kingdom Decorative Coatings Market by Application
10.2.6.5Russia Decorative Coatings Market
10.2.6.5.1Russia Decorative Coatings Market by Resin
10.2.6.5.2Russia Decorative Coatings Market by Technology
10.2.6.5.3Russia Decorative Coatings Market by Application
10.2.6.6Rest of Europe Decorative Coatings Market
10.2.6.6.1Rest of Europe Decorative Coatings Market by Resin
10.2.6.6.2Rest of Europe Decorative Coatings Market by Technology
10.2.6.6.3Rest of Europe Decorative Coatings Market by Application
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific Decorative Coatings Market Overview
10.3.2Asia-Pacific Decorative Coatings Market Forecasts and Analysis
10.3.3Asia-Pacific Decorative Coatings Market Forecasts and Analysis - By Resin
10.3.4Asia-Pacific Decorative Coatings Market Forecasts and Analysis - By Technology
10.3.5Asia-Pacific Decorative Coatings Market Forecasts and Analysis - By Application
10.3.6Asia-Pacific Decorative Coatings Market Forecasts and Analysis - By Countries
10.3.6.1Australia Decorative Coatings Market
10.3.6.1.1Australia Decorative Coatings Market by Resin
10.3.6.1.2Australia Decorative Coatings Market by Technology
10.3.6.1.3Australia Decorative Coatings Market by Application
10.3.6.2China Decorative Coatings Market
10.3.6.2.1China Decorative Coatings Market by Resin
10.3.6.2.2China Decorative Coatings Market by Technology
10.3.6.2.3China Decorative Coatings Market by Application
10.3.6.3India Decorative Coatings Market
10.3.6.3.1India Decorative Coatings Market by Resin
10.3.6.3.2India Decorative Coatings Market by Technology
10.3.6.3.3India Decorative Coatings Market by Application
10.3.6.4Japan Decorative Coatings Market
10.3.6.4.1Japan Decorative Coatings Market by Resin
10.3.6.4.2Japan Decorative Coatings Market by Technology
10.3.6.4.3Japan Decorative Coatings Market by Application
10.3.6.5South Korea Decorative Coatings Market
10.3.6.5.1South Korea Decorative Coatings Market by Resin
10.3.6.5.2South Korea Decorative Coatings Market by Technology
10.3.6.5.3South Korea Decorative Coatings Market by Application
10.3.6.6Rest of Asia-Pacific Decorative Coatings Market
10.3.6.6.1Rest of Asia-Pacific Decorative Coatings Market by Resin
10.3.6.6.2Rest of Asia-Pacific Decorative Coatings Market by Technology
10.3.6.6.3Rest of Asia-Pacific Decorative Coatings Market by Application
10.4.MIDDLE EAST AND AFRICA
10.4.1Middle East and Africa Decorative Coatings Market Overview
10.4.2Middle East and Africa Decorative Coatings Market Forecasts and Analysis
10.4.3Middle East and Africa Decorative Coatings Market Forecasts and Analysis - By Resin
10.4.4Middle East and Africa Decorative Coatings Market Forecasts and Analysis - By Technology
10.4.5Middle East and Africa Decorative Coatings Market Forecasts and Analysis - By Application
10.4.6Middle East and Africa Decorative Coatings Market Forecasts and Analysis - By Countries
10.4.6.1South Africa Decorative Coatings Market
10.4.6.1.1South Africa Decorative Coatings Market by Resin
10.4.6.1.2South Africa Decorative Coatings Market by Technology
10.4.6.1.3South Africa Decorative Coatings Market by Application
10.4.6.2Saudi Arabia Decorative Coatings Market
10.4.6.2.1Saudi Arabia Decorative Coatings Market by Resin
10.4.6.2.2Saudi Arabia Decorative Coatings Market by Technology
10.4.6.2.3Saudi Arabia Decorative Coatings Market by Application
10.4.6.3U.A.E Decorative Coatings Market
10.4.6.3.1U.A.E Decorative Coatings Market by Resin
10.4.6.3.2U.A.E Decorative Coatings Market by Technology
10.4.6.3.3U.A.E Decorative Coatings Market by Application
10.4.6.4Rest of Middle East and Africa Decorative Coatings Market
10.4.6.4.1Rest of Middle East and Africa Decorative Coatings Market by Resin
10.4.6.4.2Rest of Middle East and Africa Decorative Coatings Market by Technology
10.4.6.4.3Rest of Middle East and Africa Decorative Coatings Market by Application
10.5.SOUTH AND CENTRAL AMERICA
10.5.1South and Central America Decorative Coatings Market Overview
10.5.2South and Central America Decorative Coatings Market Forecasts and Analysis
10.5.3South and Central America Decorative Coatings Market Forecasts and Analysis - By Resin
10.5.4South and Central America Decorative Coatings Market Forecasts and Analysis - By Technology
10.5.5South and Central America Decorative Coatings Market Forecasts and Analysis - By Application
10.5.6South and Central America Decorative Coatings Market Forecasts and Analysis - By Countries
10.5.6.1Brazil Decorative Coatings Market
10.5.6.1.1Brazil Decorative Coatings Market by Resin
10.5.6.1.2Brazil Decorative Coatings Market by Technology
10.5.6.1.3Brazil Decorative Coatings Market by Application
10.5.6.2Argentina Decorative Coatings Market
10.5.6.2.1Argentina Decorative Coatings Market by Resin
10.5.6.2.2Argentina Decorative Coatings Market by Technology
10.5.6.2.3Argentina Decorative Coatings Market by Application
10.5.6.3Rest of South and Central America Decorative Coatings Market
10.5.6.3.1Rest of South and Central America Decorative Coatings Market by Resin
10.5.6.3.2Rest of South and Central America Decorative Coatings Market by Technology
10.5.6.3.3Rest of South and Central America Decorative Coatings 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.DECORATIVE COATINGS MARKET, KEY COMPANY PROFILES
12.1.AKZO NOBEL 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.AXALTA COATING SYSTEMS, LLC
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.BASF SE
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.CELANESE 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.HEMPEL A/S
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.KANSAI PAINT CO., LTD.
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.NIPSEA 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.PPG INDUSTRIES, INC.
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.RPM INTERNATIONAL INC.
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.THE SHERWIN-WILLIAMS COMPANY
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.Akzo Nobel N.V.
2.Axalta Coating Systems, LLC
3.BASF SE
4.Celanese Corporation
5.Hempel A/S
6.Kansai Paint Co., Ltd.
7.NIPSEA Group
8.PPG Industries, Inc.
9.RPM International Inc.
10.The Sherwin-Williams Company
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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