Elastomers Market Size and CAGR by 2031
The Elastomers Market is expected to register a CAGR of 5% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by type [thermoset elastomers (natural rubber, synthetic rubber (styrene-butadiene rubber, polybutadiene, fluoroelastomers, silicone rubber, nitrile rubber, EPDM, acrylic elastomers, others), thermoplastic elastomers (styrenic block copolymers, thermoplastic polyolefins, thermoplastic vulcanisates, thermoplastic polyurethane, thermoplastic copolyesters, others)]. The report further presents analysis based on end-use industry (automotive, medical, consumer goods, electrical and electronics, building and construction, industrial, others). Global analysis is further broken-down at regional level and major countries. In terms of geography, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). The report offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Elastomers 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.
Elastomers Market Segmentation
Type [Thermoset Elastomers, Thermoplastic Elastomers]- Automotive
- Medical
- Consumer Goods
- Electrical and Electronics
- Building and Construction
- Industrial
- Others
Strategic Insights
Elastomers Market Growth Drivers- Rising Demand for Elastomers in the Automotive Industry: As the automotive industry looks for evermore high-performance, durable, and elastic materials, such needs drive the demands for elastomers. Such materials have built themselves into a variety of components in motor vehicles, including seals, tires, and gaskets. They perform excellent mechanical properties, making safety, comfort, and fuel efficiency easier in the vehicles.
- Elastomers Transform Consumer Electronics: Elastomers are now finding their application in consumer electronics, especially in flexible display devices, key pads, and seals. With increasing requirements for lightweight but durable and water-resistant electronic appliances, elastomers have all the flexibility and reliability required for high-performance components in devices such as smartphones and wearables.
- Expanding Use of Elastomers in the Construction Industry: Another significant factor affecting the elastomer market is the construction segment. These materials find extensive application in seals, thermal insulation, and weatherproofing for all the structural elements, roads, and rooftops. All due credit goes to their high durability, flexibility, and environmental resistance which improves the lifetime performance of the structures.
- Rising Demand for Bio-Based Elastomers: The increasing importance of sustainability has made the requirement for bio-based elastomers keep increasing. Manufacturers across the globe are actively engaged in the development of elastomers that are derived from renewable resources instead of producing directly from petrochemical feedstock. This is so in line with the continuing growing consumer trends towards greener, biodegradable, and recyclable products.
- Innovations in High-Performance Elastomers: The elastomer market has showcased continuous innovations in high-performance materials like thermoplastic elastomers (TPEs) and fluoroelastomers. These materials have remarkable chemical resistance, heat resistance, and durability that make them ideal for use in harsh conditions across sectors such as the automobile, aerospace, and electronics.
- Customization Trends in Elastomers: There is a visible trend towards customization in elastomers for specific applications. Elastomers that have been developed with increased flexibility, UV resistance, and electrical conductivity are examples of such customization. In this way, the properties of the elastomer are such that it becomes more adapted to the increasingly diverse requirements of areas such as healthcare, electronics, and manufacturing.
- Elastomers in Electric Vehicle Market: With the surge in demand for electric vehicles, elastomers present an excellent market opportunity. These materials give rise to seals, gaskets, and battery enclosures, where durability, flexibility, and resistance to temperature change drive the market for these products in the automotive industry.
- Elastomers in Medical Devices: Elastomers segment the medical devices like seals, tubing, drug delivery systems since they have biocompatibility and flexibility. All these have been seen as emerging opportunities for elastomers in modern healthcare solutions, particularly because of the growth of the health sector, including wearable medical instruments.
- Elastomers in Renewable Energy: The field of renewables, primarily focused on wind and solar, offers opportunities to elastomers in seals, gaskets, and weatherproofing applications. The strength of elastomers in dirty environmental conditions is significant in their ability to improve the efficiency and durability of renewable energy assets.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Elastomers 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 Elastomers 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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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 Elastomers Market is estimated to witness a CAGR of 5% from 2023 to 2031
The automotive industry’s increasing need for durable, flexible, and high-performance materials drives elastomer demand.
On the basis of geography, the elastomer market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
Advanced Elastomer Systems Limited (Exxon Mobil Corporation), API S.p.A, BASF SE, Coim Group, Huntsman International LLC, Kuraray Co., Ltd, Miracll Chemical Co., Ltd., PolyOne Corporation, The Lubrizol Corporation, Wanhua Chemical Group Co., Ltd. are the key players operating in the elastomer market.
Based on geography, North America held the largest share of the elastomer market.
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Elastomers Market - By Product Type
1.3.2 Elastomers Market - By Application
1.3.3 Elastomers Market - By Region
1.3.3.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. ELASTOMERS 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. ELASTOMERS 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. ELASTOMERS MARKET - GLOBAL MARKET ANALYSIS
6.1. ELASTOMERS - GLOBAL MARKET OVERVIEW
6.2. ELASTOMERS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ELASTOMERS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. THERMOSET ELASTOMERS
7.3.1. Overview
7.3.2. Thermoset Elastomers Market Forecast and Analysis
7.3.3. Nitrile rubber (NBR) Market
7.3.3.1. Overview
7.3.3.2. Nitrile rubber (NBR) Market Forecast and Analysis
7.3.4. Ethylene Propylene (EPR) Market
7.3.4.1. Overview
7.3.4.2. Ethylene Propylene (EPR) Market Forecast and Analysis
7.3.5. Fluorocarbon Elastomers (FKM) Market
7.3.5.1. Overview
7.3.5.2. Fluorocarbon Elastomers (FKM) Market Forecast and Analysis
7.4. THERMOPLASTIC ELASTOMERS
7.4.1. Overview
7.4.2. Thermoplastic Elastomers Market Forecast and Analysis
7.4.3. Styrenic block copolymers (TPS) Market
7.4.3.1. Overview
7.4.3.2. Styrenic block copolymers (TPS) Market Forecast and Analysis
7.4.4. Polyolefin blends (TPO) Market
7.4.4.1. Overview
7.4.4.2. Polyolefin blends (TPO) Market Forecast and Analysis
7.4.5. Elastomeric alloys (TPV) Market
7.4.5.1. Overview
7.4.5.2. Elastomeric alloys (TPV) Market Forecast and Analysis
7.4.6. Thermoplastic polyurethanes (TPU) Market
7.4.6.1. Overview
7.4.6.2. Thermoplastic polyurethanes (TPU) Market Forecast and Analysis
7.4.7. Others Market
7.4.7.1. Overview
7.4.7.2. Others Market Forecast and Analysis
8. ELASTOMERS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. AUTOMOBILES
8.3.1. Overview
8.3.2. Automobiles Market Forecast and Analysis
8.4. SPORTS
8.4.1. Overview
8.4.2. Sports Market Forecast and Analysis
8.5. ELECTRONICS
8.5.1. Overview
8.5.2. Electronics Market Forecast and Analysis
8.6. INDUSTRIAL
8.6.1. Overview
8.6.2. Industrial Market Forecast and Analysis
8.7. ADHESIVES
8.7.1. Overview
8.7.2. Adhesives Market Forecast and Analysis
8.8. OTHERS
8.8.1. Overview
8.8.2. Others Market Forecast and Analysis
9. ELASTOMERS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Elastomers Market Overview
9.1.2 North America Elastomers Market Forecasts and Analysis
9.1.3 North America Elastomers Market Forecasts and Analysis - By Product Type
9.1.4 North America Elastomers Market Forecasts and Analysis - By Application
9.1.5 North America Elastomers Market Forecasts and Analysis - By Countries
9.1.5.1 United States Elastomers Market
9.1.5.1.1 United States Elastomers Market by Product Type
9.1.5.1.2 United States Elastomers Market by Application
9.1.5.2 Canada Elastomers Market
9.1.5.2.1 Canada Elastomers Market by Product Type
9.1.5.2.2 Canada Elastomers Market by Application
9.1.5.3 Mexico Elastomers Market
9.1.5.3.1 Mexico Elastomers Market by Product Type
9.1.5.3.2 Mexico Elastomers Market by Application
9.2. EUROPE
9.2.1 Europe Elastomers Market Overview
9.2.2 Europe Elastomers Market Forecasts and Analysis
9.2.3 Europe Elastomers Market Forecasts and Analysis - By Product Type
9.2.4 Europe Elastomers Market Forecasts and Analysis - By Application
9.2.5 Europe Elastomers Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Elastomers Market
9.2.5.1.1 Germany Elastomers Market by Product Type
9.2.5.1.2 Germany Elastomers Market by Application
9.2.5.2 France Elastomers Market
9.2.5.2.1 France Elastomers Market by Product Type
9.2.5.2.2 France Elastomers Market by Application
9.2.5.3 Italy Elastomers Market
9.2.5.3.1 Italy Elastomers Market by Product Type
9.2.5.3.2 Italy Elastomers Market by Application
9.2.5.4 United Kingdom Elastomers Market
9.2.5.4.1 United Kingdom Elastomers Market by Product Type
9.2.5.4.2 United Kingdom Elastomers Market by Application
9.2.5.5 Russia Elastomers Market
9.2.5.5.1 Russia Elastomers Market by Product Type
9.2.5.5.2 Russia Elastomers Market by Application
9.2.5.6 Rest of Europe Elastomers Market
9.2.5.6.1 Rest of Europe Elastomers Market by Product Type
9.2.5.6.2 Rest of Europe Elastomers Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Elastomers Market Overview
9.3.2 Asia-Pacific Elastomers Market Forecasts and Analysis
9.3.3 Asia-Pacific Elastomers Market Forecasts and Analysis - By Product Type
9.3.4 Asia-Pacific Elastomers Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Elastomers Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Elastomers Market
9.3.5.1.1 Australia Elastomers Market by Product Type
9.3.5.1.2 Australia Elastomers Market by Application
9.3.5.2 China Elastomers Market
9.3.5.2.1 China Elastomers Market by Product Type
9.3.5.2.2 China Elastomers Market by Application
9.3.5.3 India Elastomers Market
9.3.5.3.1 India Elastomers Market by Product Type
9.3.5.3.2 India Elastomers Market by Application
9.3.5.4 Japan Elastomers Market
9.3.5.4.1 Japan Elastomers Market by Product Type
9.3.5.4.2 Japan Elastomers Market by Application
9.3.5.5 South Korea Elastomers Market
9.3.5.5.1 South Korea Elastomers Market by Product Type
9.3.5.5.2 South Korea Elastomers Market by Application
9.3.5.6 Rest of Asia-Pacific Elastomers Market
9.3.5.6.1 Rest of Asia-Pacific Elastomers Market by Product Type
9.3.5.6.2 Rest of Asia-Pacific Elastomers Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Elastomers Market Overview
9.4.2 Middle East and Africa Elastomers Market Forecasts and Analysis
9.4.3 Middle East and Africa Elastomers Market Forecasts and Analysis - By Product Type
9.4.4 Middle East and Africa Elastomers Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Elastomers Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Elastomers Market
9.4.5.1.1 South Africa Elastomers Market by Product Type
9.4.5.1.2 South Africa Elastomers Market by Application
9.4.5.2 Saudi Arabia Elastomers Market
9.4.5.2.1 Saudi Arabia Elastomers Market by Product Type
9.4.5.2.2 Saudi Arabia Elastomers Market by Application
9.4.5.3 U.A.E Elastomers Market
9.4.5.3.1 U.A.E Elastomers Market by Product Type
9.4.5.3.2 U.A.E Elastomers Market by Application
9.4.5.4 Rest of Middle East and Africa Elastomers Market
9.4.5.4.1 Rest of Middle East and Africa Elastomers Market by Product Type
9.4.5.4.2 Rest of Middle East and Africa Elastomers Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Elastomers Market Overview
9.5.2 South and Central America Elastomers Market Forecasts and Analysis
9.5.3 South and Central America Elastomers Market Forecasts and Analysis - By Product Type
9.5.4 South and Central America Elastomers Market Forecasts and Analysis - By Application
9.5.5 South and Central America Elastomers Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Elastomers Market
9.5.5.1.1 Brazil Elastomers Market by Product Type
9.5.5.1.2 Brazil Elastomers Market by Application
9.5.5.2 Argentina Elastomers Market
9.5.5.2.1 Argentina Elastomers Market by Product Type
9.5.5.2.2 Argentina Elastomers Market by Application
9.5.5.3 Rest of South and Central America Elastomers Market
9.5.5.3.1 Rest of South and Central America Elastomers Market by Product Type
9.5.5.3.2 Rest of South and Central America Elastomers Market by Application
10. INDUSTRY LANDSCAPE
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. ELASTOMERS MARKET , KEY COMPANY PROFILES
11.1. ADVANCED ELASTOMER SYSTEMS LIMITED (EXXON MOBIL CORPORATION)
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. API S.P.A
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. BASF SE
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. COIM GROUP
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. HUNTSMAN INTERNATIONAL LLC
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. KURARAY CO., LTD
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. MIRACLL CHEMICAL CO., LTD.
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. POLYONE CORPORATION
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. THE LUBRIZOL CORPORATION
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. WANHUA CHEMICAL GROUP CO., 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. Advanced Elastomer Systems Limited (Exxon Mobil Corporation)
2. API S. p. A
3. BASF SE
4. Coim Group
5. Huntsman International LLC
6. Kuraray Co. , Ltd
7. Miracll Chemical Co. , Ltd.
8. PolyOne Corporation
9. The Lubrizol Corporation
10. Wanhua Chemical Group Co. , 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.