The Ethylene Carbonate Market is expected to register a CAGR of 9% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
Ethylene Carbonate Market covers analysis by Form (Liquid, Solid); Application (Lubricants, Plastics, Lithium-ion batteries, Chemical Intermediate, Fibres, Coatings, Dyes, Others); End-Use Industries (Oil and Gas, Automotive, Medical, Personal Care, Others), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). Ethylene carbonate is the carbonate ester of carbonic acid and ethylene glycol. At room temperatures, ethylene carbonate exists as a colourless transparent crystalline solid. While above its melting point, it exists low viscosity colourless liquid. It is a highly polar solvent which is capable of dissolving large amounts of electrolyte.
Purpose of the ReportThe report Ethylene Carbonate 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.
Ethylene Carbonate Market Segmentation
Form- Liquid
- Solid
- Lubricants
- Plastics
- Lithium-ion batteries
- Chemical Intermediate
- Fibres
- Coatings
- Dyes
- Oil and Gas
- Automotive
- Medical
- Personal Care
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Ethylene Carbonate Market Growth Drivers- Increasing Demand for Lithium-Ion Batteries: The most significant driver behind the ethylene carbonate (EC) market is its contribution to the electrolyte formulation. Ethylene carbonate is a majorly used solvent in the formulations of electrolytes, where electrolytes are one major component of lithium-ion battery applications for electric vehicles, for smartphones, laptops, as well as energy storage system applications. Increasing demand for electric vehicles coupled with growing requirements for portable electronics and renewable energy storage also fuels the demand for high-performance lithium-ion batteries, which would further enhance the demand for ethylene carbonate.
- The rise of Electric Vehicle and Energy Storage sectors: Electric mobility and renewable energy storage, on a global level, is one factor pushing up the demand for ethylene carbonate. Governments everywhere are strengthening their emission controls and incentivizing the usage of EVs, while at the same time propelling demand for efficient energy storage solutions in lithium-ion batteries. Since ethylene carbonate constitutes an important component of electrolytes in these batteries, the market for ethylene carbonate is expected to increase further as the EV market will grow in regions such as North America, Europe, and China.
- Increasing Applications as a Solvent and in Industrial Processes: Other than in battery applications, ethylene carbonate is also a solvent used for various industrial purposes. Such industrial usage includes coatings, adhesives, and lubricants. It is used since it has a high level of polarity and has low toxicity and solvency. Its versatility in the given industries, particularly solvent-based applications, has led to increased demand from sectors that include automotive, construction, and manufacturing. Increasing industrial activity, particularly in the emerging economies, further enhances the demand for ethylene carbonate.
- Increasing Focus on Sustainable Solutions: Increased emphasis on sustainability has pushed the demand for environment-friendly materials and solutions. Among these, ethylene carbonate falls into a class of low-toxicity, bio-based chemicals that would best suit the trend. As more attention is paid to sustainability to meet increasing demands for ecologically friendly products, such as those made of renewable energy and electric vehicles, companies are seeking to make sustainable production processes for ethylene carbonate.
- Advancements in battery manufacturing technology: Advancing battery technology calls for electrolytes that are more efficient and high-performance. Manufacturers have started investing in new production processes and formulations to improve the performance of lithium-ion batteries, especially on the energy density, charging time, and lifespan. Improvements are driving the demand for advanced solvents like ethylene carbonate, which is a key factor in optimizing electrolyte performance.
- Increased Research and Development for Energy Storage Solutions: The growing requirement for efficient energy storage across all sectors of the economy has made R&D on lithium-ion batteries and other storage technologies quite intense. Ethylene carbonate, which is one of the main components of high-performance battery electrolytes, also enjoys this trend. Researchers continue to find novel ways of increasing the conductivity and thermal stability of ethylene carbonate in batteries, which then provides new applications for this chemical.
- Expanding market for Electric Vehicle (EV): The rapid growth of the electric vehicle market is, therefore, a huge opportunity for the ethylene carbonate market. With increasing adoption of electric vehicles and the subsequent surge in demand for batteries, ethylene carbonate will take advantage of its use in high-performance electrolytes. The global push toward decarbonization and government policies supporting electric mobility will further drive demand for lithium-ion batteries and, hence, ethylene carbonate.
- Energy Storage Systems Growth: Solar and wind power continue to come to the fore, as does the requirement for efficient storage systems. The development of electrolytes in energy storage devices is of paramount importance for grid-scale storage applications and for use in houses. With a growing need for large-scale energy storage systems, this will introduce new avenues for ethylene carbonate in the energy industry.
- Emerging Markets in Asia-Pacific and Latin America: Emerging economies in Asia-Pacific and Latin America face rapid industrialization, and urbanization coupled with the higher adoption of electric vehicles have been opening up significant markets for ethylene carbonate especially in the automotive and energy storage sectors. As more of these markets grow so will the demand for batteries along with the chemicals used in their making, including ethylene carbonate, providing manufacturers with a handsome opportunity.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Ethylene Carbonate 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 Ethylene Carbonate 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
The North America market is expected to account for the highest CAGR during the forecast period owing to increased adoption of EVs in the region.
The oil and gas industry accounted for the largest market share in 2023.
Asahi Kasei Corporation, BASF SE, Empower Materials Inc, Huntsman International LLC, Merck KGaA, Mitsubishi Chemical Corporation, New Japan Chemical Co., Ltd, Oriental Union Chemical Corp, Thermo Fisher Scientific, and TOAGOSEI CO., LTD are some of the key players operating in the market.
The growing adoption of Evs globally is a key driver in the market.
The Ethylene Carbonate Market is estimated to witness a CAGR of 9% from 2023 to 2031
The growing renewable energy industry is an emerging trend in the market.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Ethylene Carbonate Market - By Form
1.3.2 Ethylene Carbonate Market - By Application
1.3.3 Ethylene Carbonate Market - By End-Use Industries
1.3.4 Ethylene Carbonate Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ETHYLENE CARBONATE 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. ETHYLENE CARBONATE 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. ETHYLENE CARBONATE MARKET - GLOBAL MARKET ANALYSIS
6.1. ETHYLENE CARBONATE - GLOBAL MARKET OVERVIEW
6.2. ETHYLENE CARBONATE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ETHYLENE CARBONATE MARKET - REVENUE AND FORECASTS TO 2028 - FORM
7.1. OVERVIEW
7.2. FORM MARKET FORECASTS AND ANALYSIS
7.3. LIQUID
7.3.1. Overview
7.3.2. Liquid Market Forecast and Analysis
7.4. SOLID
7.4.1. Overview
7.4.2. Solid Market Forecast and Analysis
8. ETHYLENE CARBONATE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. LUBRICANTS
8.3.1. Overview
8.3.2. Lubricants Market Forecast and Analysis
8.4. PLASTICS
8.4.1. Overview
8.4.2. Plastics Market Forecast and Analysis
8.5. LITHIUM-ION BATTERIES
8.5.1. Overview
8.5.2. Lithium-ion batteries Market Forecast and Analysis
8.6. CHEMICAL INTERMEDIATE
8.6.1. Overview
8.6.2. Chemical Intermediate Market Forecast and Analysis
8.7. FIBERS
8.7.1. Overview
8.7.2. Fibers Market Forecast and Analysis
8.8. COATINGS
8.8.1. Overview
8.8.2. Coatings Market Forecast and Analysis
8.9. DYES
8.9.1. Overview
8.9.2. Dyes Market Forecast and Analysis
8.10. OTHERS
8.10.1. Overview
8.10.2. Others Market Forecast and Analysis
9. ETHYLENE CARBONATE MARKET - REVENUE AND FORECASTS TO 2028 - END-USE INDUSTRIES
9.1. OVERVIEW
9.2. END-USE INDUSTRIES MARKET FORECASTS AND ANALYSIS
9.3. OIL AND GAS
9.3.1. Overview
9.3.2. Oil and Gas Market Forecast and Analysis
9.4. AUTOMOTIVE
9.4.1. Overview
9.4.2. Automotive Market Forecast and Analysis
9.5. MEDICAL
9.5.1. Overview
9.5.2. Medical Market Forecast and Analysis
9.6. PERSONAL CARE
9.6.1. Overview
9.6.2. Personal Care Market Forecast and Analysis
9.7. OTHERS
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis
10. ETHYLENE CARBONATE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Ethylene Carbonate Market Overview
10.1.2 North America Ethylene Carbonate Market Forecasts and Analysis
10.1.3 North America Ethylene Carbonate Market Forecasts and Analysis - By Form
10.1.4 North America Ethylene Carbonate Market Forecasts and Analysis - By Application
10.1.5 North America Ethylene Carbonate Market Forecasts and Analysis - By End-Use Industries
10.1.6 North America Ethylene Carbonate Market Forecasts and Analysis - By Countries
10.1.6.1 United States Ethylene Carbonate Market
10.1.6.1.1 United States Ethylene Carbonate Market by Form
10.1.6.1.2 United States Ethylene Carbonate Market by Application
10.1.6.1.3 United States Ethylene Carbonate Market by End-Use Industries
10.1.6.2 Canada Ethylene Carbonate Market
10.1.6.2.1 Canada Ethylene Carbonate Market by Form
10.1.6.2.2 Canada Ethylene Carbonate Market by Application
10.1.6.2.3 Canada Ethylene Carbonate Market by End-Use Industries
10.1.6.3 Mexico Ethylene Carbonate Market
10.1.6.3.1 Mexico Ethylene Carbonate Market by Form
10.1.6.3.2 Mexico Ethylene Carbonate Market by Application
10.1.6.3.3 Mexico Ethylene Carbonate Market by End-Use Industries
10.2. EUROPE
10.2.1 Europe Ethylene Carbonate Market Overview
10.2.2 Europe Ethylene Carbonate Market Forecasts and Analysis
10.2.3 Europe Ethylene Carbonate Market Forecasts and Analysis - By Form
10.2.4 Europe Ethylene Carbonate Market Forecasts and Analysis - By Application
10.2.5 Europe Ethylene Carbonate Market Forecasts and Analysis - By End-Use Industries
10.2.6 Europe Ethylene Carbonate Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Ethylene Carbonate Market
10.2.6.1.1 Germany Ethylene Carbonate Market by Form
10.2.6.1.2 Germany Ethylene Carbonate Market by Application
10.2.6.1.3 Germany Ethylene Carbonate Market by End-Use Industries
10.2.6.2 France Ethylene Carbonate Market
10.2.6.2.1 France Ethylene Carbonate Market by Form
10.2.6.2.2 France Ethylene Carbonate Market by Application
10.2.6.2.3 France Ethylene Carbonate Market by End-Use Industries
10.2.6.3 Italy Ethylene Carbonate Market
10.2.6.3.1 Italy Ethylene Carbonate Market by Form
10.2.6.3.2 Italy Ethylene Carbonate Market by Application
10.2.6.3.3 Italy Ethylene Carbonate Market by End-Use Industries
10.2.6.4 United Kingdom Ethylene Carbonate Market
10.2.6.4.1 United Kingdom Ethylene Carbonate Market by Form
10.2.6.4.2 United Kingdom Ethylene Carbonate Market by Application
10.2.6.4.3 United Kingdom Ethylene Carbonate Market by End-Use Industries
10.2.6.5 Russia Ethylene Carbonate Market
10.2.6.5.1 Russia Ethylene Carbonate Market by Form
10.2.6.5.2 Russia Ethylene Carbonate Market by Application
10.2.6.5.3 Russia Ethylene Carbonate Market by End-Use Industries
10.2.6.6 Rest of Europe Ethylene Carbonate Market
10.2.6.6.1 Rest of Europe Ethylene Carbonate Market by Form
10.2.6.6.2 Rest of Europe Ethylene Carbonate Market by Application
10.2.6.6.3 Rest of Europe Ethylene Carbonate Market by End-Use Industries
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Ethylene Carbonate Market Overview
10.3.2 Asia-Pacific Ethylene Carbonate Market Forecasts and Analysis
10.3.3 Asia-Pacific Ethylene Carbonate Market Forecasts and Analysis - By Form
10.3.4 Asia-Pacific Ethylene Carbonate Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Ethylene Carbonate Market Forecasts and Analysis - By End-Use Industries
10.3.6 Asia-Pacific Ethylene Carbonate Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Ethylene Carbonate Market
10.3.6.1.1 Australia Ethylene Carbonate Market by Form
10.3.6.1.2 Australia Ethylene Carbonate Market by Application
10.3.6.1.3 Australia Ethylene Carbonate Market by End-Use Industries
10.3.6.2 China Ethylene Carbonate Market
10.3.6.2.1 China Ethylene Carbonate Market by Form
10.3.6.2.2 China Ethylene Carbonate Market by Application
10.3.6.2.3 China Ethylene Carbonate Market by End-Use Industries
10.3.6.3 India Ethylene Carbonate Market
10.3.6.3.1 India Ethylene Carbonate Market by Form
10.3.6.3.2 India Ethylene Carbonate Market by Application
10.3.6.3.3 India Ethylene Carbonate Market by End-Use Industries
10.3.6.4 Japan Ethylene Carbonate Market
10.3.6.4.1 Japan Ethylene Carbonate Market by Form
10.3.6.4.2 Japan Ethylene Carbonate Market by Application
10.3.6.4.3 Japan Ethylene Carbonate Market by End-Use Industries
10.3.6.5 South Korea Ethylene Carbonate Market
10.3.6.5.1 South Korea Ethylene Carbonate Market by Form
10.3.6.5.2 South Korea Ethylene Carbonate Market by Application
10.3.6.5.3 South Korea Ethylene Carbonate Market by End-Use Industries
10.3.6.6 Rest of Asia-Pacific Ethylene Carbonate Market
10.3.6.6.1 Rest of Asia-Pacific Ethylene Carbonate Market by Form
10.3.6.6.2 Rest of Asia-Pacific Ethylene Carbonate Market by Application
10.3.6.6.3 Rest of Asia-Pacific Ethylene Carbonate Market by End-Use Industries
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Ethylene Carbonate Market Overview
10.4.2 Middle East and Africa Ethylene Carbonate Market Forecasts and Analysis
10.4.3 Middle East and Africa Ethylene Carbonate Market Forecasts and Analysis - By Form
10.4.4 Middle East and Africa Ethylene Carbonate Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Ethylene Carbonate Market Forecasts and Analysis - By End-Use Industries
10.4.6 Middle East and Africa Ethylene Carbonate Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Ethylene Carbonate Market
10.4.6.1.1 South Africa Ethylene Carbonate Market by Form
10.4.6.1.2 South Africa Ethylene Carbonate Market by Application
10.4.6.1.3 South Africa Ethylene Carbonate Market by End-Use Industries
10.4.6.2 Saudi Arabia Ethylene Carbonate Market
10.4.6.2.1 Saudi Arabia Ethylene Carbonate Market by Form
10.4.6.2.2 Saudi Arabia Ethylene Carbonate Market by Application
10.4.6.2.3 Saudi Arabia Ethylene Carbonate Market by End-Use Industries
10.4.6.3 U.A.E Ethylene Carbonate Market
10.4.6.3.1 U.A.E Ethylene Carbonate Market by Form
10.4.6.3.2 U.A.E Ethylene Carbonate Market by Application
10.4.6.3.3 U.A.E Ethylene Carbonate Market by End-Use Industries
10.4.6.4 Rest of Middle East and Africa Ethylene Carbonate Market
10.4.6.4.1 Rest of Middle East and Africa Ethylene Carbonate Market by Form
10.4.6.4.2 Rest of Middle East and Africa Ethylene Carbonate Market by Application
10.4.6.4.3 Rest of Middle East and Africa Ethylene Carbonate Market by End-Use Industries
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Ethylene Carbonate Market Overview
10.5.2 South and Central America Ethylene Carbonate Market Forecasts and Analysis
10.5.3 South and Central America Ethylene Carbonate Market Forecasts and Analysis - By Form
10.5.4 South and Central America Ethylene Carbonate Market Forecasts and Analysis - By Application
10.5.5 South and Central America Ethylene Carbonate Market Forecasts and Analysis - By End-Use Industries
10.5.6 South and Central America Ethylene Carbonate Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Ethylene Carbonate Market
10.5.6.1.1 Brazil Ethylene Carbonate Market by Form
10.5.6.1.2 Brazil Ethylene Carbonate Market by Application
10.5.6.1.3 Brazil Ethylene Carbonate Market by End-Use Industries
10.5.6.2 Argentina Ethylene Carbonate Market
10.5.6.2.1 Argentina Ethylene Carbonate Market by Form
10.5.6.2.2 Argentina Ethylene Carbonate Market by Application
10.5.6.2.3 Argentina Ethylene Carbonate Market by End-Use Industries
10.5.6.3 Rest of South and Central America Ethylene Carbonate Market
10.5.6.3.1 Rest of South and Central America Ethylene Carbonate Market by Form
10.5.6.3.2 Rest of South and Central America Ethylene Carbonate Market by Application
10.5.6.3.3 Rest of South and Central America Ethylene Carbonate Market by End-Use Industries
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. ETHYLENE CARBONATE MARKET, KEY COMPANY PROFILES
12.1. ASAHI KASEI CORPORATION
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. BASF SE
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. EMPOWER MATERIALS INC.
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. HUNTSMAN INTERNATIONAL LLC
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. MERCK KGAA,
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. MITSUBISHI CHEMICAL CORPORATION
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. NEW JAPAN CHEMICAL CO., LTD.
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. ORIENTAL UNION CHEMICAL CORP.
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. THERMO FISHER SCIENTIFIC
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. TOAGOSEI CO., LTD.
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. Asahi Kasei Corporation
2. BASF SE
3. Empower Materials Inc.
4. Huntsman International LLC
5. Merck KGaA,
6. Mitsubishi Chemical Corporation
7. New Japan Chemical Co., Ltd.
8. Oriental Union Chemical Corp.
9. Thermo Fisher Scientific
10. TOAGOSEI 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.
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