Heat Transfer Fluids Market Research Report 2021-2031
The Heat Transfer Fluids Market is expected to register a CAGR of 5 % from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by type (mineral oils, synthetic fluids, glycols, others). The report further presents analysis based on application (chemicals, automotive, energy and power, plastic and polymer, food and beverages, others. Global analysis is further broken-down at regional level and major countries. In terms of geography, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). The report offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Heat Transfer Fluids 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.
Heat Transfer Fluids Market Segmentation
Type- Mineral Oils
- Synthetic Fluids
- Glycols
- Chemicals
- Automotive
- Energy and Power
- Plastic and Polymer
- Food and Beverages
Strategic Insights
Heat Transfer Fluids Market Growth Drivers- Increasing Demand from Industrial Applications: Probably the biggest driver behind this market for heat transfer fluids is the increasing demand from industrial applications. Now, quite a number of sectors such as chemical processing, automotive and HVAC operate on efficient heat transfer solutions, and this growing need for effective thermal management propels market growth.
- Growth in Renewable Energy Sector: Another driver is the growth in the renewable energy sector. The increase in solar thermal energy systems and geothermal applications creates higher demand for specialty heat transfer fluids, capable of functioning efficiently in high-temperature applications. As an outcome, this trend promotes innovation in developing new fluid formulations that are specifically adapted for renewable energy applications.
- Advances in Fluid Technology: Advances in fluid technology are also propelling the market. Synthesized and bio-based heat transfer fluids were specifically developed with improved performance, safety, and environmental sustainability. The upgrades not only meet regulatory standards but also deliver better thermal efficiency and industries that seek reliable, high-performance heat transfer solutions.
- Shift to Bio-Based Fluids: Probably the most significant trend in this marketplace for heat transfer fluids is the growing demand to replace synthetic-based fluids by bio-based fluids, due to more stringent environmental regulations and increased consciousness about one's environment. Bio-based thermic oils might be a better choice for companies that wish to reduce their carbon footprint and follow standards set by such eco-friendly policies.
- Increased Use in Renewable Energy Applications: Another significant trend is the increasing use of heat transfer fluids for renewable energy applications. As clean sources of energy gain greater penetration through their application in systems like solar thermal and geothermal, efficient solutions for heat transfer become increasingly important. This supports the development of customized fluids designed for high-temperature operations.
- Rising Demand in the Automotive Sector: The application of heat transfer fluids in the automotive manufacturing sector is also on the rise. Advanced automotive technologies along with the fast growth of electric vehicles are creating an unrelenting demand for efficient thermal management solutions. This is likely to spur the demand for heat transfer fluids exponentially in the near future.
- Emerging Market Growth in Asia-Pacific and Latin America: The growth opportunities are good for the heat transfer fluids market in the emerging markets of Asia-Pacific and Latin America. The speedy rate of industrialization and enhanced energy requirements in countries like China and India create significant need for efficient thermal management solutions, thus allowing manufacturers to tap into new customer bases.
- Opportunities in Concentrated Solar Power (CSP): Concentrated Solar Power applications remain of huge scope for innovations in the renewable industry. Specialized heat transfer fluids that ensure better energy storage and efficiency in such renewable technologies can drive the market growth and may even induce the manufacturers to develop advanced fluid formulations geared specifically toward such applications.
- Demand for Sustainable and Energy-Efficient Fluids: This can be considered an enormous opportunity for energy-efficient and sustainable heat transfer fluid manufacturers in the market as industries begin to focus on these fields to respect environmental regulations. The impossibility of firms and industries to allow more emissions of greenhouse gases and adhere to the tough environmental standards would create more demands in the market for high-performance, non-hazardous, and environmental-friendly heat transfer fluids.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Heat Transfer Fluids 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 Heat Transfer Fluids 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
This text is related
to country scope.
Frequently Asked Questions
The Heat Transfer Fluids Market is estimated to witness a CAGR of 5 % from 2023 to 2031
One of the primary drivers of the heat transfer fluids market is the increasing demand from industrial applications and growth of the renewable energy sector.
The growing adoption of heat transfer fluids in renewable energy applications is one of the key trend in the heat transfer fluid market.
Dynalene, Inc., Indian Oil Corporation Ltd, HP Lubricants, BP p.l.c., Huntsman International LLC, Shell plc, Eastman Chemical Company, Phillips 66 Company, Petroleum Service Company, Schultz are the key players operating in the market.
Based on geography, North America held the largest share of the heat transfer fluids market.
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Heat Transfer Fluids Market - By Type
1.3.2 Heat Transfer Fluids Market - By End-Use Industries
1.3.3 Heat Transfer Fluids Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. HEAT TRANSFER FLUIDS 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. HEAT TRANSFER FLUIDS 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. HEAT TRANSFER FLUIDS MARKET - GLOBAL MARKET ANALYSIS
6.1. HEAT TRANSFER FLUIDS - GLOBAL MARKET OVERVIEW
6.2. HEAT TRANSFER FLUIDS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. HEAT TRANSFER FLUIDS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. MINERAL OILS
7.3.1. Overview
7.3.2. Mineral Oils Market Forecast and Analysis
7.4. SYNTHETIC FLUIDS
7.4.1. Overview
7.4.2. Synthetic Fluids Market Forecast and Analysis
7.5. GLYCOLS
7.5.1. Overview
7.5.2. Glycols Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. HEAT TRANSFER FLUIDS MARKET - REVENUE AND FORECASTS TO 2028 - END-USE INDUSTRIES
8.1. OVERVIEW
8.2. END-USE INDUSTRIES MARKET FORECASTS AND ANALYSIS
8.3. CHEMICAL
8.3.1. Overview
8.3.2. Chemical Market Forecast and Analysis
8.4. OIL AND GAS
8.4.1. Overview
8.4.2. Oil and Gas Market Forecast and Analysis
8.5. FOOD AND BEVERAGE
8.5.1. Overview
8.5.2. Food and Beverage Market Forecast and Analysis
8.6. PHARMACEUTICALS
8.6.1. Overview
8.6.2. Pharmaceuticals Market Forecast and Analysis
8.7. RENEWABLE ENERGY
8.7.1. Overview
8.7.2. Renewable Energy Market Forecast and Analysis
8.8. AUTOMOTIVE
8.8.1. Overview
8.8.2. Automotive Market Forecast and Analysis
8.9. HVACR
8.9.1. Overview
8.9.2. Hvacr Market Forecast and Analysis
8.10. OTHERS
8.10.1. Overview
8.10.2. Others Market Forecast and Analysis
9. HEAT TRANSFER FLUIDS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Heat Transfer Fluids Market Overview
9.1.2 North America Heat Transfer Fluids Market Forecasts and Analysis
9.1.3 North America Heat Transfer Fluids Market Forecasts and Analysis - By Type
9.1.4 North America Heat Transfer Fluids Market Forecasts and Analysis - By End-Use Industries
9.1.5 North America Heat Transfer Fluids Market Forecasts and Analysis - By Countries
9.1.5.1 Canada Heat Transfer Fluids Market
9.1.5.1.1 Canada Heat Transfer Fluids Market by Type
9.1.5.1.2 Canada Heat Transfer Fluids Market by End-Use Industries
9.1.5.2 Mexico Heat Transfer Fluids Market
9.1.5.2.1 Mexico Heat Transfer Fluids Market by Type
9.1.5.2.2 Mexico Heat Transfer Fluids Market by End-Use Industries
9.1.5.3 US Heat Transfer Fluids Market
9.1.5.3.1 US Heat Transfer Fluids Market by Type
9.1.5.3.2 US Heat Transfer Fluids Market by End-Use Industries
9.2. EUROPE
9.2.1 Europe Heat Transfer Fluids Market Overview
9.2.2 Europe Heat Transfer Fluids Market Forecasts and Analysis
9.2.3 Europe Heat Transfer Fluids Market Forecasts and Analysis - By Type
9.2.4 Europe Heat Transfer Fluids Market Forecasts and Analysis - By End-Use Industries
9.2.5 Europe Heat Transfer Fluids Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Heat Transfer Fluids Market
9.2.5.1.1 Germany Heat Transfer Fluids Market by Type
9.2.5.1.2 Germany Heat Transfer Fluids Market by End-Use Industries
9.2.5.2 France Heat Transfer Fluids Market
9.2.5.2.1 France Heat Transfer Fluids Market by Type
9.2.5.2.2 France Heat Transfer Fluids Market by End-Use Industries
9.2.5.3 Italy Heat Transfer Fluids Market
9.2.5.3.1 Italy Heat Transfer Fluids Market by Type
9.2.5.3.2 Italy Heat Transfer Fluids Market by End-Use Industries
9.2.5.4 United Kingdom Heat Transfer Fluids Market
9.2.5.4.1 United Kingdom Heat Transfer Fluids Market by Type
9.2.5.4.2 United Kingdom Heat Transfer Fluids Market by End-Use Industries
9.2.5.5 Russia Heat Transfer Fluids Market
9.2.5.5.1 Russia Heat Transfer Fluids Market by Type
9.2.5.5.2 Russia Heat Transfer Fluids Market by End-Use Industries
9.2.5.6 Rest of Europe Heat Transfer Fluids Market
9.2.5.6.1 Rest of Europe Heat Transfer Fluids Market by Type
9.2.5.6.2 Rest of Europe Heat Transfer Fluids Market by End-Use Industries
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Heat Transfer Fluids Market Overview
9.3.2 Asia-Pacific Heat Transfer Fluids Market Forecasts and Analysis
9.3.3 Asia-Pacific Heat Transfer Fluids Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Heat Transfer Fluids Market Forecasts and Analysis - By End-Use Industries
9.3.5 Asia-Pacific Heat Transfer Fluids Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Heat Transfer Fluids Market
9.3.5.1.1 Australia Heat Transfer Fluids Market by Type
9.3.5.1.2 Australia Heat Transfer Fluids Market by End-Use Industries
9.3.5.2 China Heat Transfer Fluids Market
9.3.5.2.1 China Heat Transfer Fluids Market by Type
9.3.5.2.2 China Heat Transfer Fluids Market by End-Use Industries
9.3.5.3 India Heat Transfer Fluids Market
9.3.5.3.1 India Heat Transfer Fluids Market by Type
9.3.5.3.2 India Heat Transfer Fluids Market by End-Use Industries
9.3.5.4 Japan Heat Transfer Fluids Market
9.3.5.4.1 Japan Heat Transfer Fluids Market by Type
9.3.5.4.2 Japan Heat Transfer Fluids Market by End-Use Industries
9.3.5.5 South Korea Heat Transfer Fluids Market
9.3.5.5.1 South Korea Heat Transfer Fluids Market by Type
9.3.5.5.2 South Korea Heat Transfer Fluids Market by End-Use Industries
9.3.5.6 Rest of Asia-Pacific Heat Transfer Fluids Market
9.3.5.6.1 Rest of Asia-Pacific Heat Transfer Fluids Market by Type
9.3.5.6.2 Rest of Asia-Pacific Heat Transfer Fluids Market by End-Use Industries
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Heat Transfer Fluids Market Overview
9.4.2 Middle East and Africa Heat Transfer Fluids Market Forecasts and Analysis
9.4.3 Middle East and Africa Heat Transfer Fluids Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Heat Transfer Fluids Market Forecasts and Analysis - By End-Use Industries
9.4.5 Middle East and Africa Heat Transfer Fluids Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Heat Transfer Fluids Market
9.4.5.1.1 South Africa Heat Transfer Fluids Market by Type
9.4.5.1.2 South Africa Heat Transfer Fluids Market by End-Use Industries
9.4.5.2 Saudi Arabia Heat Transfer Fluids Market
9.4.5.2.1 Saudi Arabia Heat Transfer Fluids Market by Type
9.4.5.2.2 Saudi Arabia Heat Transfer Fluids Market by End-Use Industries
9.4.5.3 U.A.E Heat Transfer Fluids Market
9.4.5.3.1 U.A.E Heat Transfer Fluids Market by Type
9.4.5.3.2 U.A.E Heat Transfer Fluids Market by End-Use Industries
9.4.5.4 Rest of Middle East and Africa Heat Transfer Fluids Market
9.4.5.4.1 Rest of Middle East and Africa Heat Transfer Fluids Market by Type
9.4.5.4.2 Rest of Middle East and Africa Heat Transfer Fluids Market by End-Use Industries
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Heat Transfer Fluids Market Overview
9.5.2 South and Central America Heat Transfer Fluids Market Forecasts and Analysis
9.5.3 South and Central America Heat Transfer Fluids Market Forecasts and Analysis - By Type
9.5.4 South and Central America Heat Transfer Fluids Market Forecasts and Analysis - By End-Use Industries
9.5.5 South and Central America Heat Transfer Fluids Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Heat Transfer Fluids Market
9.5.5.1.1 Brazil Heat Transfer Fluids Market by Type
9.5.5.1.2 Brazil Heat Transfer Fluids Market by End-Use Industries
9.5.5.2 Argentina Heat Transfer Fluids Market
9.5.5.2.1 Argentina Heat Transfer Fluids Market by Type
9.5.5.2.2 Argentina Heat Transfer Fluids Market by End-Use Industries
9.5.5.3 Rest of South and Central America Heat Transfer Fluids Market
9.5.5.3.1 Rest of South and Central America Heat Transfer Fluids Market by Type
9.5.5.3.2 Rest of South and Central America Heat Transfer Fluids Market by End-Use Industries
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. HEAT TRANSFER FLUIDS MARKET, KEY COMPANY PROFILES
11.1. ARKEMA GROUP
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. BASF SE
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. DALIAN RICHFORTUNE CHEMICALS CO., LTD.
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. DUPONT TATE AND LYLE BIO PRODUCTS
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. DYNALENE, INC
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. HP LUBRICANTS
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. INDIAN OIL CORPORATION LTD.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. ISEL
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. PHILLIPS 66 COMPANY
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. SASOL
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.Arkema Group
2.BASF SE
3.Dalian Richfortune Chemicals Co., Ltd.
4.DuPont Tate and Lyle Bio Products
5.Dynalene, Inc
6.HP Lubricants
7.Indian Oil Corporation Ltd.
8.Isel
9.Phillips 66 Company
10.Sasol
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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