Fatty Acid Methyl Ester Market Scope 2031
The Fatty Acid Methyl Ester Market is expected to register a CAGR of 6% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
Fatty Acid Methyl Ester Market covers analysis by Type (Rapeseed Methyl Ester, Soy Methyl Ester, Palm Oil Methyl Ester, Other Methyl Ester); Application (Fuels, Lubricants, Coatings, Metal Working Fluids, Food and Agriculture, Others), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). Fatty acid methyl ester is a class of fatty acid esters which is derived by transesterification of fats with methanol. The physical properties of fatty acid methyl esters are more similar to petroleum diesel than pure vegetable oils. The mixture of different fatty acid methyl esters is usually referred as bio diesels.
Purpose of the ReportThe report Fatty Acid Methyl Ester 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.
Fatty Acid Methyl Ester Market Segmentation
Type- Rapeseed Methyl Ester
- Soy Methyl Ester
- Palm Oil Methyl Ester
- Other Methyl Ester
- Fuels
- Lubricants
- Coatings
- Metal Working Fluids
- Food and Agriculture
Strategic Insights
Fatty Acid Methyl Ester Market Growth Drivers- Increasing Demand of Biodiesel: Fatty acid methyl esters (FAME) are an important segment in biodiesel. Demand is expect to grow in the near future in response to the increasingly globalized demand for renewable energy sources as well as reduced greenhouse gas emissions. In particular, with the growing strength of emissions standards and the encouragement of cleaner energy alternatives, the role of FAME in biofuel manufacturing is a major driving force behind this increase.
- Rising Environmental Consciousness Among Consumers: The trend favoring green, biodegradable products is driving the demand for fatty acid methyl esters. These derivatives are extensively used in surfactants in detergents and personal hygiene products, and with respect to consumer preference for greener and nontoxic alternatives, they can be considered very much in demand.
- Development in Agriculture and Industry: Fatty acid methyl esters are increasingly being used by the agriculture and industrial sectors in applications such as lubricants, paints, and coatings. FAME is versatile with outstanding performance and environmental benefits. Hence, cost-effective sustainable solutions available in the market drive the growth of this industry in most sectors.
- Switch to Renewable Feedstocks: The fatty acid methyl ester (FAME) is being produced from renewable feedstocks like vegetable oils and animal fats toward the newest biofuel market trend. This line of action is indeed favoring the global sustainability agenda while meeting the consumers' and the regulatory demands for cleaner energy alternatives in biodiesel production.
- Increasing Application Within Non-Fuel Industries: Traditionally used in biodiesel, FAME is now paving its way into other industries like cosmetics, cleaning agents, and lubricants. Growing demand from consumers for biodegradable and green products is driving demand for FAME ingredients in formulations for household and industrial applications.
- FAME Production Technological Development: Developments in production technology-easy catalytic and enzymatic processes-would contribute significantly toward rendering FAME production more efficient and cost-effective. These advances will increase the yield and quality of fatty acid methyl esters and enhance their application in biodiesel and industrial domains to create possible market growth.
- Development in Biodiesel Production: The increased emphasis on renewable energy and carbon reduction worldwide creates a large potential in the fatty acid methyl ester (FAME) market. FAME, biodiesel derived from fat, is anticipated to add to the demand for biofuels as governments tighten emission standards.
- Creation of Biodegradable Products: There is ample opportunity for FAME as raw material in the improvement of products that are biodegradable, such as eco-friendly detergents, paints, and lubricants. This is due to the fact that it will favor most of the consumers' demands concerning the greener alternative; thereby, it could help pump a huge market demand for consumer goods through the production of environment-friendly products and industrial applications.
- Innovation in Aviation Biofuels: There are many opportunities for fatty acid methyl ester (FAME) with the industry focusing on reducing its carbon footprint with regard to developing sustainable aviation fuel (SAF). With the rising demand by the airlines and their regulators for greener substitutes, this should also drive further developments in FAME demand for SAF manufacture.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Fatty Acid Methyl Ester 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 Fatty Acid Methyl Ester 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
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to country scope.
Frequently Asked Questions
The Fatty Acid Methyl Ester Market is estimated to witness a CAGR of 6% from 2023 to 2031
Growing awareness of health and safety benefits among consumers is a key driver in the market.
Alnor Oil Company, Archer Daniels Midland Company (ADM), BASF SE, Berg + Schmidt, Cargill, Incorporated, Emery Oleochemicals, KLK OLEO, P and G Chemicals, TCI Chemicals (India) Pvt. Ltd, and Wilmar International Ltd are some of the key players in the market.
The fuel application segment accounted for the largest market share in 2023.
The North America market is expected to account for the highest CAGR during the forecast period owing to growing biodiesel industry in the region.
Favorable sustainable trends 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 Fatty Acid Methyl Ester Market - By Type
1.3.2 Fatty Acid Methyl Ester Market - By Application
1.3.3 Fatty Acid Methyl Ester Market - By Region
1.3.3.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. FATTY ACID METHYL ESTER 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. FATTY ACID METHYL ESTER 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. FATTY ACID METHYL ESTER MARKET - GLOBAL MARKET ANALYSIS
6.1. FATTY ACID METHYL ESTER - GLOBAL MARKET OVERVIEW
6.2. FATTY ACID METHYL ESTER - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. FATTY ACID METHYL ESTER MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. RAPESEED METHYL ESTER
7.3.1. Overview
7.3.2. Rapeseed Methyl Ester Market Forecast and Analysis
7.4. SOY METHYL ESTER
7.4.1. Overview
7.4.2. Soy Methyl Ester Market Forecast and Analysis
7.5. PALM OIL METHYL ESTER
7.5.1. Overview
7.5.2. Palm Oil Methyl Ester Market Forecast and Analysis
7.6. OTHER METHYL ESTER
7.6.1. Overview
7.6.2. Other Methyl Ester Market Forecast and Analysis
8. FATTY ACID METHYL ESTER MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. FUELS
8.3.1. Overview
8.3.2. Fuels Market Forecast and Analysis
8.4. LUBRICANTS
8.4.1. Overview
8.4.2. Lubricants Market Forecast and Analysis
8.5. COATINGS
8.5.1. Overview
8.5.2. Coatings Market Forecast and Analysis
8.6. METAL WORKING FLUIDS
8.6.1. Overview
8.6.2. Metal Working Fluids Market Forecast and Analysis
8.7. FOOD AND AGRICULTURE
8.7.1. Overview
8.7.2. Food and Agriculture Market Forecast and Analysis
8.8. OTHERS
8.8.1. Overview
8.8.2. Others Market Forecast and Analysis
9. FATTY ACID METHYL ESTER MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Fatty Acid Methyl Ester Market Overview
9.1.2 North America Fatty Acid Methyl Ester Market Forecasts and Analysis
9.1.3 North America Fatty Acid Methyl Ester Market Forecasts and Analysis - By Type
9.1.4 North America Fatty Acid Methyl Ester Market Forecasts and Analysis - By Application
9.1.5 North America Fatty Acid Methyl Ester Market Forecasts and Analysis - By Countries
9.1.5.1 United States Fatty Acid Methyl Ester Market
9.1.5.1.1 United States Fatty Acid Methyl Ester Market by Type
9.1.5.1.2 United States Fatty Acid Methyl Ester Market by Application
9.1.5.2 Canada Fatty Acid Methyl Ester Market
9.1.5.2.1 Canada Fatty Acid Methyl Ester Market by Type
9.1.5.2.2 Canada Fatty Acid Methyl Ester Market by Application
9.1.5.3 Mexico Fatty Acid Methyl Ester Market
9.1.5.3.1 Mexico Fatty Acid Methyl Ester Market by Type
9.1.5.3.2 Mexico Fatty Acid Methyl Ester Market by Application
9.2. EUROPE
9.2.1 Europe Fatty Acid Methyl Ester Market Overview
9.2.2 Europe Fatty Acid Methyl Ester Market Forecasts and Analysis
9.2.3 Europe Fatty Acid Methyl Ester Market Forecasts and Analysis - By Type
9.2.4 Europe Fatty Acid Methyl Ester Market Forecasts and Analysis - By Application
9.2.5 Europe Fatty Acid Methyl Ester Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Fatty Acid Methyl Ester Market
9.2.5.1.1 Germany Fatty Acid Methyl Ester Market by Type
9.2.5.1.2 Germany Fatty Acid Methyl Ester Market by Application
9.2.5.2 France Fatty Acid Methyl Ester Market
9.2.5.2.1 France Fatty Acid Methyl Ester Market by Type
9.2.5.2.2 France Fatty Acid Methyl Ester Market by Application
9.2.5.3 Italy Fatty Acid Methyl Ester Market
9.2.5.3.1 Italy Fatty Acid Methyl Ester Market by Type
9.2.5.3.2 Italy Fatty Acid Methyl Ester Market by Application
9.2.5.4 United Kingdom Fatty Acid Methyl Ester Market
9.2.5.4.1 United Kingdom Fatty Acid Methyl Ester Market by Type
9.2.5.4.2 United Kingdom Fatty Acid Methyl Ester Market by Application
9.2.5.5 Russia Fatty Acid Methyl Ester Market
9.2.5.5.1 Russia Fatty Acid Methyl Ester Market by Type
9.2.5.5.2 Russia Fatty Acid Methyl Ester Market by Application
9.2.5.6 Rest of Europe Fatty Acid Methyl Ester Market
9.2.5.6.1 Rest of Europe Fatty Acid Methyl Ester Market by Type
9.2.5.6.2 Rest of Europe Fatty Acid Methyl Ester Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Fatty Acid Methyl Ester Market Overview
9.3.2 Asia-Pacific Fatty Acid Methyl Ester Market Forecasts and Analysis
9.3.3 Asia-Pacific Fatty Acid Methyl Ester Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Fatty Acid Methyl Ester Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Fatty Acid Methyl Ester Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Fatty Acid Methyl Ester Market
9.3.5.1.1 Australia Fatty Acid Methyl Ester Market by Type
9.3.5.1.2 Australia Fatty Acid Methyl Ester Market by Application
9.3.5.2 China Fatty Acid Methyl Ester Market
9.3.5.2.1 China Fatty Acid Methyl Ester Market by Type
9.3.5.2.2 China Fatty Acid Methyl Ester Market by Application
9.3.5.3 India Fatty Acid Methyl Ester Market
9.3.5.3.1 India Fatty Acid Methyl Ester Market by Type
9.3.5.3.2 India Fatty Acid Methyl Ester Market by Application
9.3.5.4 Japan Fatty Acid Methyl Ester Market
9.3.5.4.1 Japan Fatty Acid Methyl Ester Market by Type
9.3.5.4.2 Japan Fatty Acid Methyl Ester Market by Application
9.3.5.5 South Korea Fatty Acid Methyl Ester Market
9.3.5.5.1 South Korea Fatty Acid Methyl Ester Market by Type
9.3.5.5.2 South Korea Fatty Acid Methyl Ester Market by Application
9.3.5.6 Rest of Asia-Pacific Fatty Acid Methyl Ester Market
9.3.5.6.1 Rest of Asia-Pacific Fatty Acid Methyl Ester Market by Type
9.3.5.6.2 Rest of Asia-Pacific Fatty Acid Methyl Ester Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Fatty Acid Methyl Ester Market Overview
9.4.2 Middle East and Africa Fatty Acid Methyl Ester Market Forecasts and Analysis
9.4.3 Middle East and Africa Fatty Acid Methyl Ester Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Fatty Acid Methyl Ester Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Fatty Acid Methyl Ester Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Fatty Acid Methyl Ester Market
9.4.5.1.1 South Africa Fatty Acid Methyl Ester Market by Type
9.4.5.1.2 South Africa Fatty Acid Methyl Ester Market by Application
9.4.5.2 Saudi Arabia Fatty Acid Methyl Ester Market
9.4.5.2.1 Saudi Arabia Fatty Acid Methyl Ester Market by Type
9.4.5.2.2 Saudi Arabia Fatty Acid Methyl Ester Market by Application
9.4.5.3 U.A.E Fatty Acid Methyl Ester Market
9.4.5.3.1 U.A.E Fatty Acid Methyl Ester Market by Type
9.4.5.3.2 U.A.E Fatty Acid Methyl Ester Market by Application
9.4.5.4 Rest of Middle East and Africa Fatty Acid Methyl Ester Market
9.4.5.4.1 Rest of Middle East and Africa Fatty Acid Methyl Ester Market by Type
9.4.5.4.2 Rest of Middle East and Africa Fatty Acid Methyl Ester Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Fatty Acid Methyl Ester Market Overview
9.5.2 South and Central America Fatty Acid Methyl Ester Market Forecasts and Analysis
9.5.3 South and Central America Fatty Acid Methyl Ester Market Forecasts and Analysis - By Type
9.5.4 South and Central America Fatty Acid Methyl Ester Market Forecasts and Analysis - By Application
9.5.5 South and Central America Fatty Acid Methyl Ester Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Fatty Acid Methyl Ester Market
9.5.5.1.1 Brazil Fatty Acid Methyl Ester Market by Type
9.5.5.1.2 Brazil Fatty Acid Methyl Ester Market by Application
9.5.5.2 Argentina Fatty Acid Methyl Ester Market
9.5.5.2.1 Argentina Fatty Acid Methyl Ester Market by Type
9.5.5.2.2 Argentina Fatty Acid Methyl Ester Market by Application
9.5.5.3 Rest of South and Central America Fatty Acid Methyl Ester Market
9.5.5.3.1 Rest of South and Central America Fatty Acid Methyl Ester Market by Type
9.5.5.3.2 Rest of South and Central America Fatty Acid Methyl Ester 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. FATTY ACID METHYL ESTER MARKET, KEY COMPANY PROFILES
11.1. ALNOR OIL COMPANY
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. ARCHER DANIELS MIDLAND COMPANY (ADM)
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. BERG + SCHMIDT
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. CARGILL, INCORPORATED
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. EMERY OLEOCHEMICALS
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. KLK OLEO
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. P AND G CHEMICALS
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. TCI CHEMICALS (INDIA) PVT. LTD.
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. WILMAR INTERNATIONAL 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. Alnor Oil Company
2. Archer Daniels Midland Company (ADM)
3. BASF SE
4. Berg + Schmidt
5. Cargill, Incorporated
6. Emery Oleochemicals
7. KLK OLEO
8. P and G Chemicals
9. TCI Chemicals (India) Pvt. Ltd.
10. Wilmar International 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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