Foam Blowing Agents Market Opportunities 2031
The Foam Blowing Agents 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.
The report is segmented by product type (HCFC, HFC, HCS, HFOS and others). The report further presents analysis based on foam type (polyurethane, polyolefin, polystyrene, phenolic and others) and end-use industry (construction, automotive, furniture, consumer electronics and others). The global analysis is further broken-down at regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report Foam Blowing Agents 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.
Foam Blowing Agents Market Segmentation
Product Type- HCFC
- HFC
- HCS
- HFOS and Others
- Polyurethane
- Polyolefin
- Polystyrene
- Phenolic and Others
- Construction
- Automotive
- Furniture
- Consumer Electronics and Others
Strategic Insights
Foam Blowing Agents Market Growth Drivers- Rising Demand from Construction Sector: Construction sector is a factor contributing to growth of foam blowing agents market. With the energy efficiency policies worldwide, the demand for insulation materials in turn increased the demand for the usage of polyurethane foams. Application of foam blowing agents is of equal importance in the production of these foams, which are fitted into the walls, roofs and other structure in order to control heat loss as well as energy consumption within the environment. The desire to adjoin green building technology accounts for the demand as well since builders have to do it within the set laws and regulations.
- Rise in Demand from Automotive Industry: The automotive industry is one of the major end-user industries of foam blowing agents. In order to achieve fuel efficiency, there has been a need by manufacturers to look for lighter materials and these include foam materials in vehicle parts like seats, dashboards and insulation. This change in consumer preference is accompanied by production of electric vehicles. This tendency is anticipated to increase the consumption of foam in the automotive industry.
- Surging Use in Packaging Industry: One of the most household and basic concepts for consumer goods as a sector of packaging is foam material. The extensive growth of the sector also comes with an increased demand for packing materials that can withstand weight yet remain light fixed to packaged goods. Foam blowing agents are vital in the manufacturing of cushioning material that aids in packaging during product transportation.
- Shift to Eco-friendly Blowing Agents: There is a shift towards the formulation and use of less harmful blowing agents, including water and hydrocarbon based blowing agents. The driving factor for their acceptance is also their lower global warming potential (GWP) as compared to the conventional blowing agents such as chlorofluorocarbons and hydrofluorocarbons. This transition is also being fuelled by increasing regulatory demands and a change in the perception of the environment by the consumers, and therefore the need for manufacturers to be creative and go for cleaner production methods.
- Advancements in Foam-Blowing Technology: In response to the recent competition in the market, the technology for the use of the foam-blowing agents. New developments such as enhanced mixing and reaction conditions enable foam structure to be tailored for performance parameters including composition density, thermal insulation effect and loads. As a result these technologies allow the producers to apply appropriate foams for every investigation.
- Integration of Smart Technologies in Foam Production: One emerging trend is the inclusion of smart technologies in the foam production process. Some companies are already using IoT and AI technologies to streamline production processes, adjust product formulations, and minimize the amount of waste produced. Such incorporation is helpful in improving the internal processes but also encompasses the production of dynamic foam materials.
- Sustainability-Driven Innovation in Foam Production: The growing customer focus towards sustainability offers scope for the innovation of sustainable foam products. Key market players focus on developing their capabilities through R&D activities aimed at producing eco-friendly foams or foams harvested from sustainable sources. This aligns with sustainability efforts being experienced globally and can be advantageous in the market.
- Strategic Partnerships Fuel Foam Innovation: Strategic positioning of partnerships in research and technology and also the end-users can stimulate creativity with regards to foam blowing agents. Such partnerships can result in the invention of more advanced compounds and new uses therefore increasing the potential market.
- Growth Opportunities in Emerging Economies: There is a lucrative proposition in the foam blowing agents market with regards to the emerging economies. The industrialization and urbanization of such regions is bound to result in increased demand of construction materials, vehicle parts, and packing materials. This increase can be tapped by the organizations by increasing their penetration into the market or by changing the products of the organization.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Foam Blowing Agents 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 Foam Blowing Agents 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 Foam Blowing Agents Market is estimated to witness a CAGR of 6% from 2023 to 2031
Growth in the building and construction industry is driving the market growth
Arkema SA; Honeywell International; Solvay SA; Eiwa Chem Ind Co Ltd; The Chemours Company are some of the key players operating in the foam blowing agents market
Based on end-use industry, consumer electronics segment is expected to witness the fastest growth during the forecast period
Based on geography, Asia Pacific held the largest share of the foam blowing agents market due to growth in the building and construction industry
Development of eco-friendly foam blowing agents is expected to be the key market trends
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Foam Blowing Agents Market - By Product Type
1.3.2 Foam Blowing Agents Market - By Foam Type
1.3.3 Foam Blowing Agents Market - By Application
1.3.4 Foam Blowing Agents Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. FOAM BLOWING AGENTS 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. FOAM BLOWING AGENTS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. FOAM BLOWING AGENTS MARKET - GLOBAL MARKET ANALYSIS
6.1. FOAM BLOWING AGENTS - GLOBAL MARKET OVERVIEW
6.2. FOAM BLOWING AGENTS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. FOAM BLOWING AGENTS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. HCFC
7.3.1. Overview
7.3.2. HCFC Market Forecast and Analysis
7.4. HFC
7.4.1. Overview
7.4.2. HFC Market Forecast and Analysis
7.5. HCS
7.5.1. Overview
7.5.2. HCS Market Forecast and Analysis
7.6. HFOS
7.6.1. Overview
7.6.2. HFOS Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. FOAM BLOWING AGENTS MARKET - REVENUE AND FORECASTS TO 2028 - FOAM TYPE
8.1. OVERVIEW
8.2. FOAM TYPE MARKET FORECASTS AND ANALYSIS
8.3. POLYURETHANE
8.3.1. Overview
8.3.2. Polyurethane Market Forecast and Analysis
8.4. POLYOLEFIN
8.4.1. Overview
8.4.2. Polyolefin Market Forecast and Analysis
8.5. POLYSTYRENE
8.5.1. Overview
8.5.2. Polystyrene Market Forecast and Analysis
8.6. PHENOLIC
8.6.1. Overview
8.6.2. Phenolic Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. FOAM BLOWING AGENTS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. BUILDING AND CONSTRUCTION
9.3.1. Overview
9.3.2. Building and Construction Market Forecast and Analysis
9.4. AUTOMOTIVE
9.4.1. Overview
9.4.2. Automotive Market Forecast and Analysis
9.5. BEDDING AND FURNITURE
9.5.1. Overview
9.5.2. Bedding and Furniture Market Forecast and Analysis
9.6. APPLIANCES
9.6.1. Overview
9.6.2. Appliances Market Forecast and Analysis
9.7. PACKAGING
9.7.1. Overview
9.7.2. Packaging Market Forecast and Analysis
9.8. OTHERS
9.8.1. Overview
9.8.2. Others Market Forecast and Analysis
10. FOAM BLOWING AGENTS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Foam Blowing Agents Market Overview
10.1.2 North America Foam Blowing Agents Market Forecasts and Analysis
10.1.3 North America Foam Blowing Agents Market Forecasts and Analysis - By Product Type
10.1.4 North America Foam Blowing Agents Market Forecasts and Analysis - By Foam Type
10.1.5 North America Foam Blowing Agents Market Forecasts and Analysis - By Application
10.1.6 North America Foam Blowing Agents Market Forecasts and Analysis - By Countries
10.1.6.1 United States Foam Blowing Agents Market
10.1.6.1.1 United States Foam Blowing Agents Market by Product Type
10.1.6.1.2 United States Foam Blowing Agents Market by Foam Type
10.1.6.1.3 United States Foam Blowing Agents Market by Application
10.1.6.2 Canada Foam Blowing Agents Market
10.1.6.2.1 Canada Foam Blowing Agents Market by Product Type
10.1.6.2.2 Canada Foam Blowing Agents Market by Foam Type
10.1.6.2.3 Canada Foam Blowing Agents Market by Application
10.1.6.3 Mexico Foam Blowing Agents Market
10.1.6.3.1 Mexico Foam Blowing Agents Market by Product Type
10.1.6.3.2 Mexico Foam Blowing Agents Market by Foam Type
10.1.6.3.3 Mexico Foam Blowing Agents Market by Application
10.2. EUROPE
10.2.1 Europe Foam Blowing Agents Market Overview
10.2.2 Europe Foam Blowing Agents Market Forecasts and Analysis
10.2.3 Europe Foam Blowing Agents Market Forecasts and Analysis - By Product Type
10.2.4 Europe Foam Blowing Agents Market Forecasts and Analysis - By Foam Type
10.2.5 Europe Foam Blowing Agents Market Forecasts and Analysis - By Application
10.2.6 Europe Foam Blowing Agents Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Foam Blowing Agents Market
10.2.6.1.1 Germany Foam Blowing Agents Market by Product Type
10.2.6.1.2 Germany Foam Blowing Agents Market by Foam Type
10.2.6.1.3 Germany Foam Blowing Agents Market by Application
10.2.6.2 France Foam Blowing Agents Market
10.2.6.2.1 France Foam Blowing Agents Market by Product Type
10.2.6.2.2 France Foam Blowing Agents Market by Foam Type
10.2.6.2.3 France Foam Blowing Agents Market by Application
10.2.6.3 Italy Foam Blowing Agents Market
10.2.6.3.1 Italy Foam Blowing Agents Market by Product Type
10.2.6.3.2 Italy Foam Blowing Agents Market by Foam Type
10.2.6.3.3 Italy Foam Blowing Agents Market by Application
10.2.6.4 United Kingdom Foam Blowing Agents Market
10.2.6.4.1 United Kingdom Foam Blowing Agents Market by Product Type
10.2.6.4.2 United Kingdom Foam Blowing Agents Market by Foam Type
10.2.6.4.3 United Kingdom Foam Blowing Agents Market by Application
10.2.6.5 Russia Foam Blowing Agents Market
10.2.6.5.1 Russia Foam Blowing Agents Market by Product Type
10.2.6.5.2 Russia Foam Blowing Agents Market by Foam Type
10.2.6.5.3 Russia Foam Blowing Agents Market by Application
10.2.6.6 Rest of Europe Foam Blowing Agents Market
10.2.6.6.1 Rest of Europe Foam Blowing Agents Market by Product Type
10.2.6.6.2 Rest of Europe Foam Blowing Agents Market by Foam Type
10.2.6.6.3 Rest of Europe Foam Blowing Agents Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Foam Blowing Agents Market Overview
10.3.2 Asia-Pacific Foam Blowing Agents Market Forecasts and Analysis
10.3.3 Asia-Pacific Foam Blowing Agents Market Forecasts and Analysis - By Product Type
10.3.4 Asia-Pacific Foam Blowing Agents Market Forecasts and Analysis - By Foam Type
10.3.5 Asia-Pacific Foam Blowing Agents Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Foam Blowing Agents Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Foam Blowing Agents Market
10.3.6.1.1 Australia Foam Blowing Agents Market by Product Type
10.3.6.1.2 Australia Foam Blowing Agents Market by Foam Type
10.3.6.1.3 Australia Foam Blowing Agents Market by Application
10.3.6.2 China Foam Blowing Agents Market
10.3.6.2.1 China Foam Blowing Agents Market by Product Type
10.3.6.2.2 China Foam Blowing Agents Market by Foam Type
10.3.6.2.3 China Foam Blowing Agents Market by Application
10.3.6.3 India Foam Blowing Agents Market
10.3.6.3.1 India Foam Blowing Agents Market by Product Type
10.3.6.3.2 India Foam Blowing Agents Market by Foam Type
10.3.6.3.3 India Foam Blowing Agents Market by Application
10.3.6.4 Japan Foam Blowing Agents Market
10.3.6.4.1 Japan Foam Blowing Agents Market by Product Type
10.3.6.4.2 Japan Foam Blowing Agents Market by Foam Type
10.3.6.4.3 Japan Foam Blowing Agents Market by Application
10.3.6.5 South Korea Foam Blowing Agents Market
10.3.6.5.1 South Korea Foam Blowing Agents Market by Product Type
10.3.6.5.2 South Korea Foam Blowing Agents Market by Foam Type
10.3.6.5.3 South Korea Foam Blowing Agents Market by Application
10.3.6.6 Rest of Asia-Pacific Foam Blowing Agents Market
10.3.6.6.1 Rest of Asia-Pacific Foam Blowing Agents Market by Product Type
10.3.6.6.2 Rest of Asia-Pacific Foam Blowing Agents Market by Foam Type
10.3.6.6.3 Rest of Asia-Pacific Foam Blowing Agents Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Foam Blowing Agents Market Overview
10.4.2 Middle East and Africa Foam Blowing Agents Market Forecasts and Analysis
10.4.3 Middle East and Africa Foam Blowing Agents Market Forecasts and Analysis - By Product Type
10.4.4 Middle East and Africa Foam Blowing Agents Market Forecasts and Analysis - By Foam Type
10.4.5 Middle East and Africa Foam Blowing Agents Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Foam Blowing Agents Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Foam Blowing Agents Market
10.4.6.1.1 South Africa Foam Blowing Agents Market by Product Type
10.4.6.1.2 South Africa Foam Blowing Agents Market by Foam Type
10.4.6.1.3 South Africa Foam Blowing Agents Market by Application
10.4.6.2 Saudi Arabia Foam Blowing Agents Market
10.4.6.2.1 Saudi Arabia Foam Blowing Agents Market by Product Type
10.4.6.2.2 Saudi Arabia Foam Blowing Agents Market by Foam Type
10.4.6.2.3 Saudi Arabia Foam Blowing Agents Market by Application
10.4.6.3 U.A.E Foam Blowing Agents Market
10.4.6.3.1 U.A.E Foam Blowing Agents Market by Product Type
10.4.6.3.2 U.A.E Foam Blowing Agents Market by Foam Type
10.4.6.3.3 U.A.E Foam Blowing Agents Market by Application
10.4.6.4 Rest of Middle East and Africa Foam Blowing Agents Market
10.4.6.4.1 Rest of Middle East and Africa Foam Blowing Agents Market by Product Type
10.4.6.4.2 Rest of Middle East and Africa Foam Blowing Agents Market by Foam Type
10.4.6.4.3 Rest of Middle East and Africa Foam Blowing Agents Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Foam Blowing Agents Market Overview
10.5.2 South and Central America Foam Blowing Agents Market Forecasts and Analysis
10.5.3 South and Central America Foam Blowing Agents Market Forecasts and Analysis - By Product Type
10.5.4 South and Central America Foam Blowing Agents Market Forecasts and Analysis - By Foam Type
10.5.5 South and Central America Foam Blowing Agents Market Forecasts and Analysis - By Application
10.5.6 South and Central America Foam Blowing Agents Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Foam Blowing Agents Market
10.5.6.1.1 Brazil Foam Blowing Agents Market by Product Type
10.5.6.1.2 Brazil Foam Blowing Agents Market by Foam Type
10.5.6.1.3 Brazil Foam Blowing Agents Market by Application
10.5.6.2 Argentina Foam Blowing Agents Market
10.5.6.2.1 Argentina Foam Blowing Agents Market by Product Type
10.5.6.2.2 Argentina Foam Blowing Agents Market by Foam Type
10.5.6.2.3 Argentina Foam Blowing Agents Market by Application
10.5.6.3 Rest of South and Central America Foam Blowing Agents Market
10.5.6.3.1 Rest of South and Central America Foam Blowing Agents Market by Product Type
10.5.6.3.2 Rest of South and Central America Foam Blowing Agents Market by Foam Type
10.5.6.3.3 Rest of South and Central America Foam Blowing Agents 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. FOAM BLOWING AGENTS MARKET, KEY COMPANY PROFILES
12.1. ARKEMA S.A.
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. DAIKIN INDUSTRIES LTD.
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. E.I. DU PONT DE NEMOURS AND COMPANY
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. EXXON MOBIL 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. HALTERMANN GMBH
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. HARP INTERNATIONAL 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. HONEYWELL INTERNATIONAL INC.
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. SINOCHEM GROUP
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. SOLVAY S.A.
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. ZEON CORPORATION
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. Arkema S.A.
2. Daikin Industries Ltd.
3. E.I. du Pont de Nemours and Company
4. Exxon Mobil Corporation
5. Haltermann GmbH
6. Harp International Ltd.
7. Honeywell International Inc.
8. Sinochem Group
9. Solvay S.A.
10. ZEON Corporation
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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