Hydrophilic Coatings Market Key Findings, Size, and Share by 2031
The Hydrophilic Coatings 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 hydrophilic coatings market report is segmented by substrate (polymers, glass, ceramics, metals, and others). The market is segmented based on application (medical devices, automotive, aerospace, marine, and others). The global analysis is further broken down at the 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, segments, regions, and countries. The report covers market trends, as well as market dynamics such as drivers, restraints, and key opportunities. The report also covers industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the market.
Purpose of the ReportThe report Hydrophilic Coatings 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.
Hydrophilic Coatings Market Segmentation
Substrate- Polymers
- Glass
- Ceramics
- Metals
- Medical Devices
- Automotive
- Aerospace
- Marine
Strategic Insights
Hydrophilic Coatings Market Growth Drivers- Hydrophilic Coatings in Medical Applications: Hydrophilic coatings are quite predominantly used in medical applications, as in the case of designing catheters, surgery equipment and other diagnostic instruments. The purpose of these coatings is to increase the slip on materials and thus reduce friction which is a necessary aspect in any medical device that is to be inserted into the patient’s body. High-performance medical devices, including those that come in contact with bodily fluids and tissues, rely on hydrophilic coatings for better biocompatibility, which thus allows the patients’ risk of infection to be lowered and their healing facilitated better. Furthermore, the aged population, coupled with the modernization of medical devices, are some of the factors that are estimated to remarkably increase the need for hydrophilic coatings with the growth of the global healthcare sector.
- Hydrophilic Coatings in Automotive and Aerospace Applications: In addition to water sports, hydrophilic coatings can be found in numerous applications, such as the automotive and aerospace sectors, which are concerned with water management and minimizing the friction between surfaces to enhance the efficiency of parts and systems. For example, in automotive applications, hydrophilic coatings are used on glass surfaces. They are used on windscreens to aid in water drainage and reduce the friction generated by the windscreen wipers. In aeronautics, these coatings are applied on the external hull surfaces of aircraft to help lower resistance and improve the efficiency of the aircraft. Since these industries are always on the rise in terms of bettering performance and also cutting on fuel, and ensuring safety, it is envisaged that the use of hydrophilic coatings will go up in both of the two industries.
- Environmental Benefits of Hydrophilic Coatings: Across nations in the world, governments and agencies that are involved in regulation are advocating for the use of materials and coverings that are less harmful to the environment. Hydrophilic coatings can assist in water conservation, enhance energy use and lessen environmental effects. For instance, with respect to building materials and construction, hydrophilic coatings serve to enhance the properties of glass, concrete as well as roofing systems by providing efficient waterproofing.
- Hydrophilic Coatings in Electronic Applications: Due to their widespread usage, especially in smartphones, tablets, or wearables, there arises a high demand for water-resistant applications. Water exposure can be detrimental to electronic components. Hence minimization of water exposure to electronic components by the use of hydrophilic coatings can improve durability and performance. The evolution of electronics that do not mind water, as well as those that are resistant to water, is expected to boost the growth of hydrophilic coatings that offer more water impact while keeping sensitive electronics intact.
- The Future of "Smart" Hydrophilic Coatings: Advanced hydrophilic coatings can be expected in the near future which will have “smart” or responsive properties suggesting changes in environmental conditions. Developments in the field of coatings, i.e., hydrophilicity changing coatings depending on temperature, humidity, and presence or absence of water, can have wide-scale applications in sensors, biomedical devices, filtration edifice systems, etc. When used on smart hydrophilic coatings, encouraged seasonal goods recreate orders in which faithful conditions are entrusted while another level of appearance and performance is offered thus pushing one to imagine and design more advanced and effective applications.
- Eco-Friendly and Biodegradable Hydrophilic Coatings: As concern over environmental safety and global warming becomes an issue in all economic activity including business, there is an emerging tendency to produce hydrophilic coatings which are biodegradable and green. Most of the conventional coatings entail the use of substances that are harmful to the environment and cause issues of environmental pollution and waste management. Nevertheless, breakthroughs in material science are making it possible to produce Zelopol hydrophilic coatings that work perfectly and are also safe to use and decompose after use.
- Growth Potential of Hydrophilic Coatings in Developing Economies: The developing economies, in particular in Asia Pacific, Latin America, and the Middle East, have a significant potential for the growth of the hydrophilic coatings market. Reviewing the current state of these economies, especially growing industrialization along with increased demand for healthcare as well as automotive industries, hydrophilic coatings are most likely to be adopted. Also, there are opportunities for the market players to grow their foothold and create region-based products since there is an emerging trend of sustainability and improving infrastructure in such countries, which is advantageous to hydrophilic coatings.
- Hydrophilic Coatings in Consumer Goods Manufacturing: Stakeholders in the manufacturing of goods are integrating more of these coatings, especially consumer goods such as household products, in order to achieve some enhanced characteristics. For instance, hydrophilic coatings are used on kitchenware, clothes, and sports dresses to make them waterproof, reduce friction, and increase the lifetime of the product. With growing awareness of performance-enhancing coating types alongside an ever-widening base of consumers desiring quality products, manufacturers can exploit this trend by offering hydrophilic coatings to this growing sector.
- Hydrophilic Coatings in Water Filtration and Treatment: Water filtration and treatment systems can implement hydrophilic coatings, particularly when enhanced water flow with minimum fouling is required. The use of hydrophilic coatings on membranes employed in the processes of desalination and reverse osmosis, as well as the treatment of wastewater, is an avenue where hydrophilic coatings can be expected to perform. Given the increasing global population accompanied by water scarcity issues, the wastewater treatment sector provides a fertile ground for the upsurge of this market once again.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Hydrophilic Coatings 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 Hydrophilic Coatings 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
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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 Hydrophilic Coatings Market is estimated to witness a CAGR of 6% from 2023 to 2031
Increasing demand from the medical and healthcare industry is driving the market growth.
Hydromer Inc, Surmodics Inc, AdvanSource Biomaterials Corp, BioCoat Inc, Royal DSM N.V., Covalon Technologies Ltd, Harland Medical Devices, DONTECH INC, Henkel AG and Co. KGaA, and Henniker Plasma are the key players operating in the hydrophilic coatings market.
Based on application, the automotive segment is expected to witness the fastest growth during the forecast period.
Based on geography, Asia Pacific held the largest share of the hydrophilic coatings market due to the strong growth of the automotive, marine, and medical industry in the region.
Growth in water-repellent coatings for electronics and displays 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 Hydrophilic Coatings Market - By Substrate
1.3.2 Hydrophilic Coatings Market - By Application
1.3.3 Hydrophilic Coatings Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. HYDROPHILIC COATINGS 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. HYDROPHILIC COATINGS 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. HYDROPHILIC COATINGS MARKET - GLOBAL MARKET ANALYSIS
6.1. HYDROPHILIC COATINGS - GLOBAL MARKET OVERVIEW
6.2. HYDROPHILIC COATINGS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. HYDROPHILIC COATINGS MARKET - REVENUE AND FORECASTS TO 2028 - SUBSTRATE
7.1. OVERVIEW
7.2. SUBSTRATE MARKET FORECASTS AND ANALYSIS
7.3. POLYMERS
7.3.1. Overview
7.3.2. Polymers Market Forecast and Analysis
7.4. GLASS/CERAMICS
7.4.1. Overview
7.4.2. Glass/Ceramics Market Forecast and Analysis
7.5. METALS
7.5.1. Overview
7.5.2. Metals Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. HYDROPHILIC COATINGS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. MEDICAL DEVICES
8.3.1. Overview
8.3.2. Medical Devices Market Forecast and Analysis
8.4. AUTOMOTIVE
8.4.1. Overview
8.4.2. Automotive Market Forecast and Analysis
8.5. AEROSPACE
8.5.1. Overview
8.5.2. Aerospace Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. HYDROPHILIC COATINGS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Hydrophilic Coatings Market Overview
9.1.2 North America Hydrophilic Coatings Market Forecasts and Analysis
9.1.3 North America Hydrophilic Coatings Market Forecasts and Analysis - By Substrate
9.1.4 North America Hydrophilic Coatings Market Forecasts and Analysis - By Application
9.1.5 North America Hydrophilic Coatings Market Forecasts and Analysis - By Countries
9.1.5.1 Canada Hydrophilic Coatings Market
9.1.5.1.1 Canada Hydrophilic Coatings Market by Substrate
9.1.5.1.2 Canada Hydrophilic Coatings Market by Application
9.1.5.2 Mexico Hydrophilic Coatings Market
9.1.5.2.1 Mexico Hydrophilic Coatings Market by Substrate
9.1.5.2.2 Mexico Hydrophilic Coatings Market by Application
9.1.5.3 US Hydrophilic Coatings Market
9.1.5.3.1 US Hydrophilic Coatings Market by Substrate
9.1.5.3.2 US Hydrophilic Coatings Market by Application
9.2. EUROPE
9.2.1 Europe Hydrophilic Coatings Market Overview
9.2.2 Europe Hydrophilic Coatings Market Forecasts and Analysis
9.2.3 Europe Hydrophilic Coatings Market Forecasts and Analysis - By Substrate
9.2.4 Europe Hydrophilic Coatings Market Forecasts and Analysis - By Application
9.2.5 Europe Hydrophilic Coatings Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Hydrophilic Coatings Market
9.2.5.1.1 Germany Hydrophilic Coatings Market by Substrate
9.2.5.1.2 Germany Hydrophilic Coatings Market by Application
9.2.5.2 France Hydrophilic Coatings Market
9.2.5.2.1 France Hydrophilic Coatings Market by Substrate
9.2.5.2.2 France Hydrophilic Coatings Market by Application
9.2.5.3 Italy Hydrophilic Coatings Market
9.2.5.3.1 Italy Hydrophilic Coatings Market by Substrate
9.2.5.3.2 Italy Hydrophilic Coatings Market by Application
9.2.5.4 United Kingdom Hydrophilic Coatings Market
9.2.5.4.1 United Kingdom Hydrophilic Coatings Market by Substrate
9.2.5.4.2 United Kingdom Hydrophilic Coatings Market by Application
9.2.5.5 Russia Hydrophilic Coatings Market
9.2.5.5.1 Russia Hydrophilic Coatings Market by Substrate
9.2.5.5.2 Russia Hydrophilic Coatings Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Hydrophilic Coatings Market Overview
9.3.2 Asia-Pacific Hydrophilic Coatings Market Forecasts and Analysis
9.3.3 Asia-Pacific Hydrophilic Coatings Market Forecasts and Analysis - By Substrate
9.3.4 Asia-Pacific Hydrophilic Coatings Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Hydrophilic Coatings Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Hydrophilic Coatings Market
9.3.5.1.1 Australia Hydrophilic Coatings Market by Substrate
9.3.5.1.2 Australia Hydrophilic Coatings Market by Application
9.3.5.2 China Hydrophilic Coatings Market
9.3.5.2.1 China Hydrophilic Coatings Market by Substrate
9.3.5.2.2 China Hydrophilic Coatings Market by Application
9.3.5.3 India Hydrophilic Coatings Market
9.3.5.3.1 India Hydrophilic Coatings Market by Substrate
9.3.5.3.2 India Hydrophilic Coatings Market by Application
9.3.5.4 Japan Hydrophilic Coatings Market
9.3.5.4.1 Japan Hydrophilic Coatings Market by Substrate
9.3.5.4.2 Japan Hydrophilic Coatings Market by Application
9.3.5.5 South Korea Hydrophilic Coatings Market
9.3.5.5.1 South Korea Hydrophilic Coatings Market by Substrate
9.3.5.5.2 South Korea Hydrophilic Coatings Market by Application
9.3.5.6 Rest of Asia-Pacific Hydrophilic Coatings Market
9.3.5.6.1 Rest of Asia-Pacific Hydrophilic Coatings Market by Substrate
9.3.5.6.2 Rest of Asia-Pacific Hydrophilic Coatings Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Hydrophilic Coatings Market Overview
9.4.2 Middle East and Africa Hydrophilic Coatings Market Forecasts and Analysis
9.4.3 Middle East and Africa Hydrophilic Coatings Market Forecasts and Analysis - By Substrate
9.4.4 Middle East and Africa Hydrophilic Coatings Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Hydrophilic Coatings Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Hydrophilic Coatings Market
9.4.5.1.1 South Africa Hydrophilic Coatings Market by Substrate
9.4.5.1.2 South Africa Hydrophilic Coatings Market by Application
9.4.5.2 Saudi Arabia Hydrophilic Coatings Market
9.4.5.2.1 Saudi Arabia Hydrophilic Coatings Market by Substrate
9.4.5.2.2 Saudi Arabia Hydrophilic Coatings Market by Application
9.4.5.3 U.A.E Hydrophilic Coatings Market
9.4.5.3.1 U.A.E Hydrophilic Coatings Market by Substrate
9.4.5.3.2 U.A.E Hydrophilic Coatings Market by Application
9.4.5.4 Rest of Middle East and Africa Hydrophilic Coatings Market
9.4.5.4.1 Rest of Middle East and Africa Hydrophilic Coatings Market by Substrate
9.4.5.4.2 Rest of Middle East and Africa Hydrophilic Coatings Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Hydrophilic Coatings Market Overview
9.5.2 South and Central America Hydrophilic Coatings Market Forecasts and Analysis
9.5.3 South and Central America Hydrophilic Coatings Market Forecasts and Analysis - By Substrate
9.5.4 South and Central America Hydrophilic Coatings Market Forecasts and Analysis - By Application
9.5.5 South and Central America Hydrophilic Coatings Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Hydrophilic Coatings Market
9.5.5.1.1 Brazil Hydrophilic Coatings Market by Substrate
9.5.5.1.2 Brazil Hydrophilic Coatings Market by Application
9.5.5.2 Argentina Hydrophilic Coatings Market
9.5.5.2.1 Argentina Hydrophilic Coatings Market by Substrate
9.5.5.2.2 Argentina Hydrophilic Coatings Market by Application
9.5.5.3 Rest of South and Central America Hydrophilic Coatings Market
9.5.5.3.1 Rest of South and Central America Hydrophilic Coatings Market by Substrate
9.5.5.3.2 Rest of South and Central America Hydrophilic Coatings 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. HYDROPHILIC COATINGS MARKET, KEY COMPANY PROFILES
11.1. HYDROMER, INC.
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. SURMODICS, INC.
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. ADVANSOURCE BIOMATERIALS CORP.
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. BIOCOAT, INC.
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. ROYAL DSM N.V.
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. COVALON TECHNOLOGIES LTD
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. HARLAND MEDICAL DEVICES
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. DONTECH, 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. HENKEL AG AND CO. KGAA
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. HENNIKER PLASMA
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. Hydromer, Inc.
2. Surmodics, Inc.
3. AdvanSource Biomaterials Corp.
4. BioCoat, Inc.
5. Royal DSM N.V.
6. Covalon Technologies Ltd
7. Harland Medical Devices
8. DONTECH, INC.
9. Henkel AG and Co. KGaA
10. Henniker Plasma
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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