Industrial Coatings Market Scope and Size by 2031
Analyst Perspective
The global industrial coatings market is expected to register a CAGR of ~3%. The market is expanding due to global increases in industrialization, urbanization, and commercial activities. The automotive industry uses the product to enhance aesthetics and provide vehicle protection. Industrial coatings are seeing growing usage in aerospace, oil & gas, energy and power, and marine sectors. Growing awareness of environmental concerns drives the demand for sustainable and eco-friendly industrial coatings, creating an opportunity for manufacturers. The demand for specialty coatings with unique properties, such as fire resistance, corrosion resistance, and self-cleaning abilities, is expected to grow. These coatings can be used in various aerospace, marine, oil & gas applications. Raw material price volatility, Stringent regulations, and environmental concerns are significant challenges that may hamper the growth of the industrial coatings market.
Market Overview
Industrial coatings are a specialized form of paint that safeguard surfaces in different industries from corrosion, abrasion, chemicals, and harsh environmental conditions. Additionally, they offer decorative finishes and enhance equipment efficiency. Industrial coatings find extensive applications in diverse sectors like automotive, electronics, oil & gas, mining, aerospace, marine, and power generation. Automotive and refinish coatings play a crucial role, with increasing demand for refinish coatings in automotive maintenance and aftermarket painting due to their benefits in visual appeal, surface protection, and corrosion resistance. This trend is anticipated to drive the demand for industrial coatings. The widespread use of anti-corrosion coatings is also a contributing factor. However, the market faces constraints due to the adverse effects of solvent-based coatings on health and environment. There are growth opportunities in the market driven by the rising use of powder coatings and the increasing adoption of environmentally friendly coatings,
Market Drivers
- Rising demand for protective coatings
Increased investments in infrastructure like bridges, roads, and power plants necessitate using durable and protective coatings for corrosion resistance and extended lifespan. Growth in oil & gas, automotive, and marine industries fuels the demand for specialized coatings that can withstand harsh conditions and chemicals. Growing awareness of the importance of preventive maintenance and extending the life of assets drives the demand for refinish coatings and touch-up solutions.
Market Segmentation
The global industrial coatings market is segmented based on resin, technology, and end-user industry. The global industrial coatings market is segmented based on resin into acrylic, alkyd, polyurethane, epoxy, polyester, and others. Based on technology, the market is segmented into solvent-borne, water-borne, powder, and others. Based on end-user industry, the market is segmented into aerospace, automotive and transportation, consumer durables, general industrial, marine, and others.
Regional Analysis
The report provides a detailed industry overview, which includes qualitative and quantitative information. It gives information on an overview and forecast of the global industrial coatings market based on several segments. It also provides market size and forecast estimates from 2021 to 2031 concerning five major regions: Europe, North America, Asia-Pacific (APAC), Middle East & Africa (MEA) and South & Central America. The regional industrial coatings market is also sub-segmented by respective countries and segments. The industrial coatings market report covers an analysis and forecast of eighteen countries globally and the prevailing trends and opportunities in the region.
The report analyses factors affecting the industrial coatings market from both the demand and supply side. Furthermore, it evaluates market dynamics during the forecast period, i.e., drivers, challenges, opportunities, and future trends. The report also provides an extensive Porter's Five Forces analysis highlighting factors affecting the industrial coatings market in these regions.
Key Players
The reports cover vital organic and inorganic growth strategy developments in the industrial coatings market. Various companies concentrate on organic growth strategies such as product launches, approvals, patents, and others. Inorganic growth strategies activities observed in the market were acquisitions, partnerships & collaborations. These activities have paved the way for the development of the business and customer base of market players. The market players in the industrial coatings market are expected to have lucrative growth opportunities with the increasing demand for powder coating in the shipbuilding sector in the global market.
The report includes key companies' profiles, SWOT analysis, and industrial coatings market strategies. The report also focuses on leading market players with information including components and services offered, company profiles, financial information for the last three years, and critical development in the past five years.
Below is a list of companies engaged in the industrial coatings market.
- AkzoNobel
- Baxalta Coating Systems
- Jotun A\S
- PPG Industries
- Kansai Paints
- Nippon Paint Holdings
- The Sherwin Williams Company
- BASF SE
- RPM International
- Asian Paints
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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.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Industrial Coatings Market - By Technology
1.3.2 Industrial Coatings Market - By Resin
1.3.3 Industrial Coatings Market - By End-user Industry
1.3.4 Industrial Coatings Market - By Region
1.3.4.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. INDUSTRIAL 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. INDUSTRIAL 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. INDUSTRIAL COATINGS MARKET - GLOBAL MARKET ANALYSIS
6.1. INDUSTRIAL COATINGS - GLOBAL MARKET OVERVIEW
6.2. INDUSTRIAL COATINGS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. INDUSTRIAL COATINGS MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
7.1. OVERVIEW
7.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
7.3. POWDER COATINGS
7.3.1. Overview
7.3.2. Powder Coatings Market Forecast and Analysis
7.4. SOLVENT-BORNE COATINGS
7.4.1. Overview
7.4.2. Solvent-Borne Coatings Market Forecast and Analysis
7.5. WATER-BORNE COATINGS
7.5.1. Overview
7.5.2. Water-Borne Coatings Market Forecast and Analysis
7.6. RADIATION CURED COATINGS
7.6.1. Overview
7.6.2. Radiation Cured Coatings Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. INDUSTRIAL COATINGS MARKET - REVENUE AND FORECASTS TO 2028 - RESIN
8.1. OVERVIEW
8.2. RESIN MARKET FORECASTS AND ANALYSIS
8.3. ACRYLICS
8.3.1. Overview
8.3.2. Acrylics Market Forecast and Analysis
8.4. EPOXY
8.4.1. Overview
8.4.2. Epoxy Market Forecast and Analysis
8.5. POLYURETHANE (PU)
8.5.1. Overview
8.5.2. Polyurethane (PU) Market Forecast and Analysis
8.6. POLYESTER
8.6.1. Overview
8.6.2. Polyester Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. INDUSTRIAL COATINGS MARKET - REVENUE AND FORECASTS TO 2028 - END-USER INDUSTRY
9.1. OVERVIEW
9.2. END-USER INDUSTRY MARKET FORECASTS AND ANALYSIS
9.3. AEROSPACE
9.3.1. Overview
9.3.2. Aerospace Market Forecast and Analysis
9.4. AUTOMOTIVE AND TRANSPORTATION
9.4.1. Overview
9.4.2. Automotive and Transportation Market Forecast and Analysis
9.5. CONSUMER DURABLES
9.5.1. Overview
9.5.2. Consumer Durables Market Forecast and Analysis
9.6. GENERAL INDUSTRIAL
9.6.1. Overview
9.6.2. General Industrial Market Forecast and Analysis
9.7. MARINE
9.7.1. Overview
9.7.2. Marine Market Forecast and Analysis
9.8. WOOD
9.8.1. Overview
9.8.2. Wood Market Forecast and Analysis
9.9. OTHERS
9.9.1. Overview
9.9.2. Others Market Forecast and Analysis
10. INDUSTRIAL COATINGS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Industrial Coatings Market Overview
10.1.2 North America Industrial Coatings Market Forecasts and Analysis
10.1.3 North America Industrial Coatings Market Forecasts and Analysis - By Technology
10.1.4 North America Industrial Coatings Market Forecasts and Analysis - By Resin
10.1.5 North America Industrial Coatings Market Forecasts and Analysis - By End-user Industry
10.1.6 North America Industrial Coatings Market Forecasts and Analysis - By Countries
10.1.6.1 United States Industrial Coatings Market
10.1.6.1.1 United States Industrial Coatings Market by Technology
10.1.6.1.2 United States Industrial Coatings Market by Resin
10.1.6.1.3 United States Industrial Coatings Market by End-user Industry
10.1.6.2 Canada Industrial Coatings Market
10.1.6.2.1 Canada Industrial Coatings Market by Technology
10.1.6.2.2 Canada Industrial Coatings Market by Resin
10.1.6.2.3 Canada Industrial Coatings Market by End-user Industry
10.1.6.3 Mexico Industrial Coatings Market
10.1.6.3.1 Mexico Industrial Coatings Market by Technology
10.1.6.3.2 Mexico Industrial Coatings Market by Resin
10.1.6.3.3 Mexico Industrial Coatings Market by End-user Industry
10.2. EUROPE
10.2.1 Europe Industrial Coatings Market Overview
10.2.2 Europe Industrial Coatings Market Forecasts and Analysis
10.2.3 Europe Industrial Coatings Market Forecasts and Analysis - By Technology
10.2.4 Europe Industrial Coatings Market Forecasts and Analysis - By Resin
10.2.5 Europe Industrial Coatings Market Forecasts and Analysis - By End-user Industry
10.2.6 Europe Industrial Coatings Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Industrial Coatings Market
10.2.6.1.1 Germany Industrial Coatings Market by Technology
10.2.6.1.2 Germany Industrial Coatings Market by Resin
10.2.6.1.3 Germany Industrial Coatings Market by End-user Industry
10.2.6.2 France Industrial Coatings Market
10.2.6.2.1 France Industrial Coatings Market by Technology
10.2.6.2.2 France Industrial Coatings Market by Resin
10.2.6.2.3 France Industrial Coatings Market by End-user Industry
10.2.6.3 Italy Industrial Coatings Market
10.2.6.3.1 Italy Industrial Coatings Market by Technology
10.2.6.3.2 Italy Industrial Coatings Market by Resin
10.2.6.3.3 Italy Industrial Coatings Market by End-user Industry
10.2.6.4 United Kingdom Industrial Coatings Market
10.2.6.4.1 United Kingdom Industrial Coatings Market by Technology
10.2.6.4.2 United Kingdom Industrial Coatings Market by Resin
10.2.6.4.3 United Kingdom Industrial Coatings Market by End-user Industry
10.2.6.5 Russia Industrial Coatings Market
10.2.6.5.1 Russia Industrial Coatings Market by Technology
10.2.6.5.2 Russia Industrial Coatings Market by Resin
10.2.6.5.3 Russia Industrial Coatings Market by End-user Industry
10.2.6.6 Rest of Europe Industrial Coatings Market
10.2.6.6.1 Rest of Europe Industrial Coatings Market by Technology
10.2.6.6.2 Rest of Europe Industrial Coatings Market by Resin
10.2.6.6.3 Rest of Europe Industrial Coatings Market by End-user Industry
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Industrial Coatings Market Overview
10.3.2 Asia-Pacific Industrial Coatings Market Forecasts and Analysis
10.3.3 Asia-Pacific Industrial Coatings Market Forecasts and Analysis - By Technology
10.3.4 Asia-Pacific Industrial Coatings Market Forecasts and Analysis - By Resin
10.3.5 Asia-Pacific Industrial Coatings Market Forecasts and Analysis - By End-user Industry
10.3.6 Asia-Pacific Industrial Coatings Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Industrial Coatings Market
10.3.6.1.1 Australia Industrial Coatings Market by Technology
10.3.6.1.2 Australia Industrial Coatings Market by Resin
10.3.6.1.3 Australia Industrial Coatings Market by End-user Industry
10.3.6.2 China Industrial Coatings Market
10.3.6.2.1 China Industrial Coatings Market by Technology
10.3.6.2.2 China Industrial Coatings Market by Resin
10.3.6.2.3 China Industrial Coatings Market by End-user Industry
10.3.6.3 India Industrial Coatings Market
10.3.6.3.1 India Industrial Coatings Market by Technology
10.3.6.3.2 India Industrial Coatings Market by Resin
10.3.6.3.3 India Industrial Coatings Market by End-user Industry
10.3.6.4 Japan Industrial Coatings Market
10.3.6.4.1 Japan Industrial Coatings Market by Technology
10.3.6.4.2 Japan Industrial Coatings Market by Resin
10.3.6.4.3 Japan Industrial Coatings Market by End-user Industry
10.3.6.5 South Korea Industrial Coatings Market
10.3.6.5.1 South Korea Industrial Coatings Market by Technology
10.3.6.5.2 South Korea Industrial Coatings Market by Resin
10.3.6.5.3 South Korea Industrial Coatings Market by End-user Industry
10.3.6.6 Rest of Asia-Pacific Industrial Coatings Market
10.3.6.6.1 Rest of Asia-Pacific Industrial Coatings Market by Technology
10.3.6.6.2 Rest of Asia-Pacific Industrial Coatings Market by Resin
10.3.6.6.3 Rest of Asia-Pacific Industrial Coatings Market by End-user Industry
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Industrial Coatings Market Overview
10.4.2 Middle East and Africa Industrial Coatings Market Forecasts and Analysis
10.4.3 Middle East and Africa Industrial Coatings Market Forecasts and Analysis - By Technology
10.4.4 Middle East and Africa Industrial Coatings Market Forecasts and Analysis - By Resin
10.4.5 Middle East and Africa Industrial Coatings Market Forecasts and Analysis - By End-user Industry
10.4.6 Middle East and Africa Industrial Coatings Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Industrial Coatings Market
10.4.6.1.1 South Africa Industrial Coatings Market by Technology
10.4.6.1.2 South Africa Industrial Coatings Market by Resin
10.4.6.1.3 South Africa Industrial Coatings Market by End-user Industry
10.4.6.2 Saudi Arabia Industrial Coatings Market
10.4.6.2.1 Saudi Arabia Industrial Coatings Market by Technology
10.4.6.2.2 Saudi Arabia Industrial Coatings Market by Resin
10.4.6.2.3 Saudi Arabia Industrial Coatings Market by End-user Industry
10.4.6.3 U.A.E Industrial Coatings Market
10.4.6.3.1 U.A.E Industrial Coatings Market by Technology
10.4.6.3.2 U.A.E Industrial Coatings Market by Resin
10.4.6.3.3 U.A.E Industrial Coatings Market by End-user Industry
10.4.6.4 Rest of Middle East and Africa Industrial Coatings Market
10.4.6.4.1 Rest of Middle East and Africa Industrial Coatings Market by Technology
10.4.6.4.2 Rest of Middle East and Africa Industrial Coatings Market by Resin
10.4.6.4.3 Rest of Middle East and Africa Industrial Coatings Market by End-user Industry
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Industrial Coatings Market Overview
10.5.2 South and Central America Industrial Coatings Market Forecasts and Analysis
10.5.3 South and Central America Industrial Coatings Market Forecasts and Analysis - By Technology
10.5.4 South and Central America Industrial Coatings Market Forecasts and Analysis - By Resin
10.5.5 South and Central America Industrial Coatings Market Forecasts and Analysis - By End-user Industry
10.5.6 South and Central America Industrial Coatings Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Industrial Coatings Market
10.5.6.1.1 Brazil Industrial Coatings Market by Technology
10.5.6.1.2 Brazil Industrial Coatings Market by Resin
10.5.6.1.3 Brazil Industrial Coatings Market by End-user Industry
10.5.6.2 Argentina Industrial Coatings Market
10.5.6.2.1 Argentina Industrial Coatings Market by Technology
10.5.6.2.2 Argentina Industrial Coatings Market by Resin
10.5.6.2.3 Argentina Industrial Coatings Market by End-user Industry
10.5.6.3 Rest of South and Central America Industrial Coatings Market
10.5.6.3.1 Rest of South and Central America Industrial Coatings Market by Technology
10.5.6.3.2 Rest of South and Central America Industrial Coatings Market by Resin
10.5.6.3.3 Rest of South and Central America Industrial Coatings Market by End-user Industry
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. INDUSTRIAL COATINGS MARKET, KEY COMPANY PROFILES
12.1. AKZO NOBEL N.V.
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. ASIAN PAINTS
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. AXALTA COATING SYSTEMS, LLC
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. BASF SE
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. HEMPEL A/S
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. JOTUN
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. KANSAI PAINT CO., LTD.
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. NIPPON PAINT HOLDINGS CO., LTD.
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. PPG INDUSTRIES, INC.
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. THE SHERWIN-WILLIAMS COMPANY
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
The List of Companies
- Akzo Nobel N.V.
- Asian Paints
- Axalta Coating Systems, LLC
- BASF SE
- Hempel A/S
- Jotun
- Kansai Paint Co., Ltd.
- Nippon Paint Holdings Co., Ltd.
- PPG Industries, Inc.
- The Sherwin-Williams Company
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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