Industrial Rubber Market Overview and Forecast by 2031
The Industrial Rubber 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 presents analysis based on type [natural rubber and synthetic rubber (nitrile rubber, styrene butadiene, EPDM, butyl rubber, and others)]. The report is segmented by application (wire and cables, hoses, belts, adhesives, and others). The report is segmented by end use (automotive, aerospace, building and construction, industrial machinery, electrical and electronics, healthcare, agriculture, and others). The global analysis is further broken-down at regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report Industrial Rubber 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.
Industrial Rubber Market Segmentation
Type- Natural Rubber
- Synthetic Rubber
- Wire and Cables
- Hoses
- Belts
- Adhesives
- Automotive
- Aerospace
- Building and Construction
- Industrial Machinery
- Electrical and Electronics
- Healthcare
- Agriculture
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Industrial Rubber Market Growth Drivers- Emerging Economies Drive Growth in the Industrial Rubber Market: Emerging economies are India, Brazil, and China. Such countries are rapidly urbanizing and developing their economies, and vehicle demand is increasing; thus, they are driving the growth of an industrial rubber market. Increased vehicle production and sales increase the demand for rubber used for tires, seals, and hoses.
- Advanced Rubber Materials Boost Automotive Performance and Safety: The automotive industries are also expected to grow further with the increased and more advanced rubber material production meant to provide improved performance, safety, and durability. High-performance tires and weather-resistant seals require specific rubber compounds, thus making a compelling case for manufacturers to invest in research and development. Also, since the standards of vehicles are improved, the quality of rubber material demanded also goes up.
- Infrastructure Growth Fuels Demand for Industrial Rubber Products: Improvement initiatives undertaken in the infrastructure sector, which comprise the construction of roads and the development of public transport facilities, are raising vehicle demand. All such initiatives require a robust supply chain of rubber products so that manufacturers continue to meet the growing demand from the still-expanding automotive market. As these projects assume shape, the industrial rubber market will continue to grow.
- Eco-Friendly Rubber Compounds Drive Sustainable Market Growth: Eco-friendly rubber compounds are emerging as something critical for the industrial rubber market. As environment-related concerns grow, companies are seeking sustainable alternatives for more traditional rubber materials. The reduced carbon footprint of eco-friendly compounds attracts many consumers and business environments that are committed to greener practices and global initiatives toward sustainability.
- Bio-Based and Renewable Materials Fuel Eco-Friendly Rubber Demand: New rubber compounds often incorporate renewable resources, such as natural rubber and bio-based materials, into their composition. This ensures a new level of reduced dependence on petroleum-based products and adds to biodegradability. Eco-friendly options in automotive, construction, consumer goods, and other industries, both for complying with regulations and because of consumer preference, have also fueled market growth.
- Technological Advancements Enhance Eco-Friendly Rubber Performance: Additionally, technological advancement enhances the performance characteristics of newly developing eco-friendly rubber compounds. As such, it applies to most areas to match or even substitute the original conventional options in regard to durability and resilience. The demand for eco-friendly rubber solutions is presently rising as industries consider these solutions without compromising quality.
- Smart Manufacturing Drives Efficiency and Quality in the Rubber Market: The massive growth opportunities in the industrial rubber market result from smart manufacturing processes. The advanced technologies available, including automation, IoT, and data analytics, make it feasible to maximize production efficiency without generating waste during the manufacturing process. Increased demand for higher-quality rubber products answering rigid standards has the potential to boost market growth.
- Real-Time Monitoring and Predictive Maintenance Enhance Rubber Quality: In addition, smart manufacturing enables real-time monitoring of production processes, which has helped control quality in all aspects. Predictive maintenance and automated inspection guarantee that the performance characteristics of rubber products are maintained and hence reduce defects in them. Quality and efficiency are the only focuses that may be magnified within major industries such as automotive and aerospace.
- Industry 4.0 Fuels Customized Rubber Solutions for Market Growth: Another way the growth of Industry 4.0 is fostering the development of customized solutions for rubber applications is through the design of materials suited to target applications. Manufacturers can manufacture specialized compounds tailored to meet the changing requirements of the market from data insights. This ensures the industrial rubber market is positioned aptly for long-term growth due to the innovation of companies.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Industrial Rubber 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 Industrial Rubber 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 Industrial Rubber Market is estimated to witness a CAGR of 6% from 2023 to 2031
Rising demand for vehicles in emerging economies are driving the market growth.
Rondex (Thailand) Co.,Ltd.; LANXESS; KURARAY CO., LTD.; UBE Corporation; LG Chem; Denka Company Limited; Versalis S.p.A.; SIBUR; TSRC; and ZEON CORPORATION are some of the key players operating in the industrial rubber market
Based on type, the synthetic rubber segment is expected to witness the fastest growth during the forecast period
Based on geography, Asia Pacific held the largest share of the industrial rubber market due to the region is experiencing rapid industrialization and urbanization, particularly in countries like China, India, and Vietnam. This growth leads to increased demand for rubber products in key sectors such as automotive, construction, and consumer goods.
The development of eco-friendly rubber compounds 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 Industrial Rubber Market - By Type
1.3.2 Industrial Rubber Market - By Product
1.3.3 Industrial Rubber Market - By Application
1.3.4 Industrial Rubber Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. INDUSTRIAL RUBBER 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 RUBBER 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 RUBBER MARKET - GLOBAL MARKET ANALYSIS
6.1. INDUSTRIAL RUBBER - GLOBAL MARKET OVERVIEW
6.2. INDUSTRIAL RUBBER - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. INDUSTRIAL RUBBER MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. NATURAL RUBBER
7.3.1. Overview
7.3.2. Natural Rubber Market Forecast and Analysis
7.4. SYNTHETIC RUBBER
7.4.1. Overview
7.4.2. Synthetic Rubber Market Forecast and Analysis
8. INDUSTRIAL RUBBER MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
8.1. OVERVIEW
8.2. PRODUCT MARKET FORECASTS AND ANALYSIS
8.3. MECHANICAL RUBBER GOOD
8.3.1. Overview
8.3.2. Mechanical Rubber Good Market Forecast and Analysis
8.4. RUBBER HOSE
8.4.1. Overview
8.4.2. Rubber Hose Market Forecast and Analysis
8.5. RUBBER BELT
8.5.1. Overview
8.5.2. Rubber Belt Market Forecast and Analysis
8.6. RUBBER ROOFING
8.6.1. Overview
8.6.2. Rubber Roofing Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. INDUSTRIAL RUBBER MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. AUTOMOTIVE
9.3.1. Overview
9.3.2. Automotive Market Forecast and Analysis
9.4. BUILDING AND CONSTRUCTION
9.4.1. Overview
9.4.2. Building and Construction Market Forecast and Analysis
9.5. INDUSTRIAL MANUFACTURING
9.5.1. Overview
9.5.2. Industrial Manufacturing Market Forecast and Analysis
9.6. POLYMER MODIFICATION
9.6.1. Overview
9.6.2. Polymer Modification Market Forecast and Analysis
9.7. WIRE AND CABLE
9.7.1. Overview
9.7.2. Wire and Cable Market Forecast and Analysis
9.8. ELECTRICAL AND ELECTRONICS
9.8.1. Overview
9.8.2. Electrical and Electronics Market Forecast and Analysis
9.9. BITUMEN MODIFICATION
9.9.1. Overview
9.9.2. Bitumen Modification Market Forecast and Analysis
9.10. COATING, SEALANT AND ADHESIVE
9.10.1. Overview
9.10.2. Coating, Sealant and Adhesive Market Forecast and Analysis
9.11. MEDICAL AND HEALTHCARE
9.11.1. Overview
9.11.2. Medical and Healthcare Market Forecast and Analysis
9.12. OTHERS
9.12.1. Overview
9.12.2. Others Market Forecast and Analysis
10. INDUSTRIAL RUBBER MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Industrial Rubber Market Overview
10.1.2 North America Industrial Rubber Market Forecasts and Analysis
10.1.3 North America Industrial Rubber Market Forecasts and Analysis - By Type
10.1.4 North America Industrial Rubber Market Forecasts and Analysis - By Product
10.1.5 North America Industrial Rubber Market Forecasts and Analysis - By Application
10.1.6 North America Industrial Rubber Market Forecasts and Analysis - By Countries
10.1.6.1 United States Industrial Rubber Market
10.1.6.1.1 United States Industrial Rubber Market by Type
10.1.6.1.2 United States Industrial Rubber Market by Product
10.1.6.1.3 United States Industrial Rubber Market by Application
10.1.6.2 Canada Industrial Rubber Market
10.1.6.2.1 Canada Industrial Rubber Market by Type
10.1.6.2.2 Canada Industrial Rubber Market by Product
10.1.6.2.3 Canada Industrial Rubber Market by Application
10.1.6.3 Mexico Industrial Rubber Market
10.1.6.3.1 Mexico Industrial Rubber Market by Type
10.1.6.3.2 Mexico Industrial Rubber Market by Product
10.1.6.3.3 Mexico Industrial Rubber Market by Application
10.2. EUROPE
10.2.1 Europe Industrial Rubber Market Overview
10.2.2 Europe Industrial Rubber Market Forecasts and Analysis
10.2.3 Europe Industrial Rubber Market Forecasts and Analysis - By Type
10.2.4 Europe Industrial Rubber Market Forecasts and Analysis - By Product
10.2.5 Europe Industrial Rubber Market Forecasts and Analysis - By Application
10.2.6 Europe Industrial Rubber Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Industrial Rubber Market
10.2.6.1.1 Germany Industrial Rubber Market by Type
10.2.6.1.2 Germany Industrial Rubber Market by Product
10.2.6.1.3 Germany Industrial Rubber Market by Application
10.2.6.2 France Industrial Rubber Market
10.2.6.2.1 France Industrial Rubber Market by Type
10.2.6.2.2 France Industrial Rubber Market by Product
10.2.6.2.3 France Industrial Rubber Market by Application
10.2.6.3 Italy Industrial Rubber Market
10.2.6.3.1 Italy Industrial Rubber Market by Type
10.2.6.3.2 Italy Industrial Rubber Market by Product
10.2.6.3.3 Italy Industrial Rubber Market by Application
10.2.6.4 United Kingdom Industrial Rubber Market
10.2.6.4.1 United Kingdom Industrial Rubber Market by Type
10.2.6.4.2 United Kingdom Industrial Rubber Market by Product
10.2.6.4.3 United Kingdom Industrial Rubber Market by Application
10.2.6.5 Russia Industrial Rubber Market
10.2.6.5.1 Russia Industrial Rubber Market by Type
10.2.6.5.2 Russia Industrial Rubber Market by Product
10.2.6.5.3 Russia Industrial Rubber Market by Application
10.2.6.6 Rest of Europe Industrial Rubber Market
10.2.6.6.1 Rest of Europe Industrial Rubber Market by Type
10.2.6.6.2 Rest of Europe Industrial Rubber Market by Product
10.2.6.6.3 Rest of Europe Industrial Rubber Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Industrial Rubber Market Overview
10.3.2 Asia-Pacific Industrial Rubber Market Forecasts and Analysis
10.3.3 Asia-Pacific Industrial Rubber Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Industrial Rubber Market Forecasts and Analysis - By Product
10.3.5 Asia-Pacific Industrial Rubber Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Industrial Rubber Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Industrial Rubber Market
10.3.6.1.1 Australia Industrial Rubber Market by Type
10.3.6.1.2 Australia Industrial Rubber Market by Product
10.3.6.1.3 Australia Industrial Rubber Market by Application
10.3.6.2 China Industrial Rubber Market
10.3.6.2.1 China Industrial Rubber Market by Type
10.3.6.2.2 China Industrial Rubber Market by Product
10.3.6.2.3 China Industrial Rubber Market by Application
10.3.6.3 India Industrial Rubber Market
10.3.6.3.1 India Industrial Rubber Market by Type
10.3.6.3.2 India Industrial Rubber Market by Product
10.3.6.3.3 India Industrial Rubber Market by Application
10.3.6.4 Japan Industrial Rubber Market
10.3.6.4.1 Japan Industrial Rubber Market by Type
10.3.6.4.2 Japan Industrial Rubber Market by Product
10.3.6.4.3 Japan Industrial Rubber Market by Application
10.3.6.5 South Korea Industrial Rubber Market
10.3.6.5.1 South Korea Industrial Rubber Market by Type
10.3.6.5.2 South Korea Industrial Rubber Market by Product
10.3.6.5.3 South Korea Industrial Rubber Market by Application
10.3.6.6 Rest of Asia-Pacific Industrial Rubber Market
10.3.6.6.1 Rest of Asia-Pacific Industrial Rubber Market by Type
10.3.6.6.2 Rest of Asia-Pacific Industrial Rubber Market by Product
10.3.6.6.3 Rest of Asia-Pacific Industrial Rubber Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Industrial Rubber Market Overview
10.4.2 Middle East and Africa Industrial Rubber Market Forecasts and Analysis
10.4.3 Middle East and Africa Industrial Rubber Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Industrial Rubber Market Forecasts and Analysis - By Product
10.4.5 Middle East and Africa Industrial Rubber Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Industrial Rubber Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Industrial Rubber Market
10.4.6.1.1 South Africa Industrial Rubber Market by Type
10.4.6.1.2 South Africa Industrial Rubber Market by Product
10.4.6.1.3 South Africa Industrial Rubber Market by Application
10.4.6.2 Saudi Arabia Industrial Rubber Market
10.4.6.2.1 Saudi Arabia Industrial Rubber Market by Type
10.4.6.2.2 Saudi Arabia Industrial Rubber Market by Product
10.4.6.2.3 Saudi Arabia Industrial Rubber Market by Application
10.4.6.3 U.A.E Industrial Rubber Market
10.4.6.3.1 U.A.E Industrial Rubber Market by Type
10.4.6.3.2 U.A.E Industrial Rubber Market by Product
10.4.6.3.3 U.A.E Industrial Rubber Market by Application
10.4.6.4 Rest of Middle East and Africa Industrial Rubber Market
10.4.6.4.1 Rest of Middle East and Africa Industrial Rubber Market by Type
10.4.6.4.2 Rest of Middle East and Africa Industrial Rubber Market by Product
10.4.6.4.3 Rest of Middle East and Africa Industrial Rubber Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Industrial Rubber Market Overview
10.5.2 South and Central America Industrial Rubber Market Forecasts and Analysis
10.5.3 South and Central America Industrial Rubber Market Forecasts and Analysis - By Type
10.5.4 South and Central America Industrial Rubber Market Forecasts and Analysis - By Product
10.5.5 South and Central America Industrial Rubber Market Forecasts and Analysis - By Application
10.5.6 South and Central America Industrial Rubber Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Industrial Rubber Market
10.5.6.1.1 Brazil Industrial Rubber Market by Type
10.5.6.1.2 Brazil Industrial Rubber Market by Product
10.5.6.1.3 Brazil Industrial Rubber Market by Application
10.5.6.2 Argentina Industrial Rubber Market
10.5.6.2.1 Argentina Industrial Rubber Market by Type
10.5.6.2.2 Argentina Industrial Rubber Market by Product
10.5.6.2.3 Argentina Industrial Rubber Market by Application
10.5.6.3 Rest of South and Central America Industrial Rubber Market
10.5.6.3.1 Rest of South and Central America Industrial Rubber Market by Type
10.5.6.3.2 Rest of South and Central America Industrial Rubber Market by Product
10.5.6.3.3 Rest of South and Central America Industrial Rubber Market by Application
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. INDUSTRIAL RUBBER MARKET, KEY COMPANY PROFILES
12.1. GOODYEAR TIRE AND RUBBER COMPANY
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. JSR CORPORATION
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. KUMHO PETROCHEMICAL CO., LTD.
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. LANXESS AG
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. LG CHEM LTD.
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. NIZHNEKAMSKNEFTEKHIM
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. SINOPEC
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. TSRC CORPORATION
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. VERSALIS S.P.A.
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. ZEON CORPORATION
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. Goodyear Tire and Rubber Company
2. JSR Corporation
3. Kumho Petrochemical Co., Ltd.
4. Lanxess AG
5. LG Chem Ltd.
6. Nizhnekamskneftekhim
7. Sinopec
8. TSRC Corporation
9. Versalis S.p.A.
10. ZEON Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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