Glass Reinforced Plastic Market Growth Report | 2021 to 2031
The Glass Reinforced Plastic 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 Resin Type (Epoxy, Vinyl Ester, Polyurethane, Others). The global analysis is further broken-down at regional level and major countries. The report further presents analysis based on End User Industry (Electrical and Electronics, Construction, Automotive, Marine, Aerospace and Defense, 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 Glass Reinforced Plastic 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.
Glass Reinforced Plastic Market Segmentation
Resin Type- Epoxy
- Vinyl Ester
- Polyurethane
- Others
- Electrical and Electronics
- Construction
- Automotive
- Marine
- Aerospace and Defense
- Others
Strategic Insights
Glass Reinforced Plastic Market Growth Drivers- The Rising Demand for GRP Composites in Automotive, Aerospace, and Construction Industries: GRP composites are tough, anti-corrosive, and lightweight, making them perfect for the automotive, aerospace, construction, and shipping sectors. The increase in the requirement for products that exhibit strength and are lightweight is a key factor responsible for augmenting the GRP industry.
- Lightweight Materials Driving the Adoption of GRP in the Transportation and Automotive Sectors: The emerging trends of the lightweight materials especially in transportation and automobile sectors for example, advancements in automobile engineering to improve on fuel efficiency to cut down on emissions are pushing for the adoption of GRP. Its usage in components of vehicles such as bumpers and body panels is increasing.
- Sustainability and Durability: With industries moving towards sustainable and green solutions, GRP provides benefits in the form of recyclability, low maintenance cost and long lifespan of the product which further aids in the cause of greener solutions. The application of the material in green building solutions also contributes towards the growth of this market.
- The Role of GRP in Enhancing Energy Efficiency in Electric Vehicles and Self-Driving Cars: With electric vehicles (EVs) and self-driving cars on the rise, the structural glass reinforced plastic (GRP) is expected to be widely used due to its weight which enhances the energy efficiency and cuts on the overall weight of the vehicle. GRP will be highly useful in increasing the lifespan of the battery while improving the performance of the automobile.
- Sustainability and Recycling: There is a keen shift to GRP sustainability thinking in the market. Because of the environmental issues raised, manufacturers are researching ways on how to recycle GRP. Use of recycled GRP is expected to rise especially in construction, automotive and shipping industries as sustainability is on the increase.
- The Expanding Use of GRP in Renewable Energy: Usage of GRP in windmills and solar energy structures is highly anticipated to grow. The strength to weight ratio of GRP makes it appropriate for applications that utilize renewable energy like wind turbine blades where heavy yet robust materials are needed for efficient functioning and longevity.
- The Growing Role of GRP in Renewable Energy: The potential of the GRP market is more enhanced in renewable sources of energy GRP composites are used for wind turbine blades. GRP is lightweight, strong and resistant to chemical attack which is beneficial in the construction of renewable energy elements as they help to achieve sustainability in usage over the ages. Given the tendencies towards adoption of renewable sources, this application is, thus, bound to grow at a much faster pace.
- GRP’s Expanding Applications in Marine and Transportation Sectors: There is a widespread push in the marine and transportation sector for the use of lightweight and corrosion resistant materials, and this translates to a wide growth opportunity for GRP. Specifically, fuel efficiency regulations and general demands for suitable long-lasting materials with minimum maintenance requirements are set to increase the use of GRP in vessels, rail cars and other transport systems.
- Future Growth in the GRP Market: The growth prospects for the GRP market in the years to come will be found in the making of more advanced composite materials and in particular hybrid composites which have better strength and resistance to unfavorable conditions. It is anticipated that such composites will bring new benefits into industries such as aerospace, automotive and military as well thereby increasing the available market for GRP.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Glass Reinforced Plastic 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 Glass Reinforced Plastic 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 Glass Reinforced Plastic Market is estimated to witness a CAGR of 6% from 2023 to 2031
Durability and strength is driving the market growth
Owens Corning
; Jushi Group Co., Ltd.
; China National Chemical Corporation
; Johns Manville
; BASF SE
; Huntsman Corporation
; SABIC
; PPG Industries, Inc.
; Gurit Holding AG
; 3B-Fibreglass
; Mitsubishi Chemical Corporation
; Teijin Limited
; Hexcel Corporation
; Aerospace Technologies Group (ATG)
; Zoltek Companies, Inc.
Based on resin type, the epoxy segment is expected to witness the fastest growth during the forecast period
Based on geography, Asia Pacific held the largest share of the glass reinforced plastic market due to the well-established construction and automotive industry across the region, coupled with continuous growth and development
Increased use in electric and autonomous vehicles 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 Glass Reinforced Plastic Market - By Resin Type
1.3.2 Glass Reinforced Plastic Market - By End User Industry
1.3.3 Glass Reinforced Plastic Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. GLASS REINFORCED PLASTIC 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. GLASS REINFORCED PLASTIC 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. GLASS REINFORCED PLASTIC MARKET - GLOBAL MARKET ANALYSIS
6.1. GLASS REINFORCED PLASTIC - GLOBAL MARKET OVERVIEW
6.2. GLASS REINFORCED PLASTIC - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. GLASS REINFORCED PLASTIC MARKET - REVENUE AND FORECASTS TO 2028 - RESIN TYPE
7.1. OVERVIEW
7.2. RESIN TYPE MARKET FORECASTS AND ANALYSIS
7.3. EPOXY
7.3.1. Overview
7.3.2. Epoxy Market Forecast and Analysis
7.4. VINYL ESTER
7.4.1. Overview
7.4.2. Vinyl Ester Market Forecast and Analysis
7.5. POLYURETHANE
7.5.1. Overview
7.5.2. Polyurethane Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. GLASS REINFORCED PLASTIC MARKET - REVENUE AND FORECASTS TO 2028 - END USER INDUSTRY
8.1. OVERVIEW
8.2. END USER INDUSTRY MARKET FORECASTS AND ANALYSIS
8.3. ELECTRICAL AND ELECTRONICS
8.3.1. Overview
8.3.2. Electrical and Electronics Market Forecast and Analysis
8.4. CONSTRUCTION
8.4.1. Overview
8.4.2. Construction Market Forecast and Analysis
8.5. AUTOMOTIVE
8.5.1. Overview
8.5.2. Automotive Market Forecast and Analysis
8.6. MARINE
8.6.1. Overview
8.6.2. Marine Market Forecast and Analysis
8.7. AEROSPACE AND DEFENSE
8.7.1. Overview
8.7.2. Aerospace and Defense Market Forecast and Analysis
8.8. OTHERS
8.8.1. Overview
8.8.2. Others Market Forecast and Analysis
9. GLASS REINFORCED PLASTIC MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Glass Reinforced Plastic Market Overview
9.1.2 North America Glass Reinforced Plastic Market Forecasts and Analysis
9.1.3 North America Glass Reinforced Plastic Market Forecasts and Analysis - By Resin Type
9.1.4 North America Glass Reinforced Plastic Market Forecasts and Analysis - By End User Industry
9.1.5 North America Glass Reinforced Plastic Market Forecasts and Analysis - By Countries
9.1.5.1 United States Glass Reinforced Plastic Market
9.1.5.1.1 United States Glass Reinforced Plastic Market by Resin Type
9.1.5.1.2 United States Glass Reinforced Plastic Market by End User Industry
9.1.5.2 Canada Glass Reinforced Plastic Market
9.1.5.2.1 Canada Glass Reinforced Plastic Market by Resin Type
9.1.5.2.2 Canada Glass Reinforced Plastic Market by End User Industry
9.1.5.3 Mexico Glass Reinforced Plastic Market
9.1.5.3.1 Mexico Glass Reinforced Plastic Market by Resin Type
9.1.5.3.2 Mexico Glass Reinforced Plastic Market by End User Industry
9.2. EUROPE
9.2.1 Europe Glass Reinforced Plastic Market Overview
9.2.2 Europe Glass Reinforced Plastic Market Forecasts and Analysis
9.2.3 Europe Glass Reinforced Plastic Market Forecasts and Analysis - By Resin Type
9.2.4 Europe Glass Reinforced Plastic Market Forecasts and Analysis - By End User Industry
9.2.5 Europe Glass Reinforced Plastic Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Glass Reinforced Plastic Market
9.2.5.1.1 Germany Glass Reinforced Plastic Market by Resin Type
9.2.5.1.2 Germany Glass Reinforced Plastic Market by End User Industry
9.2.5.2 France Glass Reinforced Plastic Market
9.2.5.2.1 France Glass Reinforced Plastic Market by Resin Type
9.2.5.2.2 France Glass Reinforced Plastic Market by End User Industry
9.2.5.3 Italy Glass Reinforced Plastic Market
9.2.5.3.1 Italy Glass Reinforced Plastic Market by Resin Type
9.2.5.3.2 Italy Glass Reinforced Plastic Market by End User Industry
9.2.5.4 United Kingdom Glass Reinforced Plastic Market
9.2.5.4.1 United Kingdom Glass Reinforced Plastic Market by Resin Type
9.2.5.4.2 United Kingdom Glass Reinforced Plastic Market by End User Industry
9.2.5.5 Russia Glass Reinforced Plastic Market
9.2.5.5.1 Russia Glass Reinforced Plastic Market by Resin Type
9.2.5.5.2 Russia Glass Reinforced Plastic Market by End User Industry
9.2.5.6 Rest of Europe Glass Reinforced Plastic Market
9.2.5.6.1 Rest of Europe Glass Reinforced Plastic Market by Resin Type
9.2.5.6.2 Rest of Europe Glass Reinforced Plastic Market by End User Industry
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Glass Reinforced Plastic Market Overview
9.3.2 Asia-Pacific Glass Reinforced Plastic Market Forecasts and Analysis
9.3.3 Asia-Pacific Glass Reinforced Plastic Market Forecasts and Analysis - By Resin Type
9.3.4 Asia-Pacific Glass Reinforced Plastic Market Forecasts and Analysis - By End User Industry
9.3.5 Asia-Pacific Glass Reinforced Plastic Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Glass Reinforced Plastic Market
9.3.5.1.1 Australia Glass Reinforced Plastic Market by Resin Type
9.3.5.1.2 Australia Glass Reinforced Plastic Market by End User Industry
9.3.5.2 China Glass Reinforced Plastic Market
9.3.5.2.1 China Glass Reinforced Plastic Market by Resin Type
9.3.5.2.2 China Glass Reinforced Plastic Market by End User Industry
9.3.5.3 India Glass Reinforced Plastic Market
9.3.5.3.1 India Glass Reinforced Plastic Market by Resin Type
9.3.5.3.2 India Glass Reinforced Plastic Market by End User Industry
9.3.5.4 Japan Glass Reinforced Plastic Market
9.3.5.4.1 Japan Glass Reinforced Plastic Market by Resin Type
9.3.5.4.2 Japan Glass Reinforced Plastic Market by End User Industry
9.3.5.5 South Korea Glass Reinforced Plastic Market
9.3.5.5.1 South Korea Glass Reinforced Plastic Market by Resin Type
9.3.5.5.2 South Korea Glass Reinforced Plastic Market by End User Industry
9.3.5.6 Rest of Asia-Pacific Glass Reinforced Plastic Market
9.3.5.6.1 Rest of Asia-Pacific Glass Reinforced Plastic Market by Resin Type
9.3.5.6.2 Rest of Asia-Pacific Glass Reinforced Plastic Market by End User Industry
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Glass Reinforced Plastic Market Overview
9.4.2 Middle East and Africa Glass Reinforced Plastic Market Forecasts and Analysis
9.4.3 Middle East and Africa Glass Reinforced Plastic Market Forecasts and Analysis - By Resin Type
9.4.4 Middle East and Africa Glass Reinforced Plastic Market Forecasts and Analysis - By End User Industry
9.4.5 Middle East and Africa Glass Reinforced Plastic Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Glass Reinforced Plastic Market
9.4.5.1.1 South Africa Glass Reinforced Plastic Market by Resin Type
9.4.5.1.2 South Africa Glass Reinforced Plastic Market by End User Industry
9.4.5.2 Saudi Arabia Glass Reinforced Plastic Market
9.4.5.2.1 Saudi Arabia Glass Reinforced Plastic Market by Resin Type
9.4.5.2.2 Saudi Arabia Glass Reinforced Plastic Market by End User Industry
9.4.5.3 U.A.E Glass Reinforced Plastic Market
9.4.5.3.1 U.A.E Glass Reinforced Plastic Market by Resin Type
9.4.5.3.2 U.A.E Glass Reinforced Plastic Market by End User Industry
9.4.5.4 Rest of Middle East and Africa Glass Reinforced Plastic Market
9.4.5.4.1 Rest of Middle East and Africa Glass Reinforced Plastic Market by Resin Type
9.4.5.4.2 Rest of Middle East and Africa Glass Reinforced Plastic Market by End User Industry
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Glass Reinforced Plastic Market Overview
9.5.2 South and Central America Glass Reinforced Plastic Market Forecasts and Analysis
9.5.3 South and Central America Glass Reinforced Plastic Market Forecasts and Analysis - By Resin Type
9.5.4 South and Central America Glass Reinforced Plastic Market Forecasts and Analysis - By End User Industry
9.5.5 South and Central America Glass Reinforced Plastic Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Glass Reinforced Plastic Market
9.5.5.1.1 Brazil Glass Reinforced Plastic Market by Resin Type
9.5.5.1.2 Brazil Glass Reinforced Plastic Market by End User Industry
9.5.5.2 Argentina Glass Reinforced Plastic Market
9.5.5.2.1 Argentina Glass Reinforced Plastic Market by Resin Type
9.5.5.2.2 Argentina Glass Reinforced Plastic Market by End User Industry
9.5.5.3 Rest of South and Central America Glass Reinforced Plastic Market
9.5.5.3.1 Rest of South and Central America Glass Reinforced Plastic Market by Resin Type
9.5.5.3.2 Rest of South and Central America Glass Reinforced Plastic Market by End User Industry
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. GLASS REINFORCED PLASTIC MARKET, KEY COMPANY PROFILES
11.1. TAIWAN GLASS IND CORP
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. AMIBLU HOLDING GMBH
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. DELKOM GROUP
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. NITTO BOSEKI CO.LTD
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. ADVANCED GLASSFIBER YARNS(AGY)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. EVERGRIP LIMITED
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. BINANI 3B- THE FIBERGLASS COMPANY
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. PPG INDUSTRIES INC
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. GRADEALL INTERNATIONAL LIMITED
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. TUF-BAR
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. Taiwan Glass Ind Corp
2. Amiblu Holding GmbH
3. Delkom Group
4. Nitto Boseki Co.Ltd
5. Advanced Glassfiber Yarns(AGY)Llc
6. Evergrip Limited
7. Binani 3b- The Fiberglass Company
8. Ppg Industries Inc
9. Gradeall International Limited
10. TUF-BAR
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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