The Isoprene Market is expected to register a CAGR of 6.9% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by grade (polymer grade and chemical grade). The report is further segmented by production method (petroleum-based and bio-based). The report is segmented by application (polyisoprene, isoprene monomer, styrene isoprene styrene (SIS), isoprene rubber (IR), isobutylene isoprene rubber (IIR), and others). The report further presents an analysis based on the end-use industry (tire manufacturing, automotive, medical devices, construction, footwear, and others). The report scope covers five regions: North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America and key countries under each region. The global analysis is further broken down at the regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Isoprene 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.
Isoprene Market Segmentation
Grade- Polymer Grade
- Chemical Grade
- Petroleum-Based
- Bio-Based
Strategic Insights
Isoprene Market Growth Drivers- Demand for Synthetic Rubber in Automotive: Rapid growth in the global market for isoprene is the growing interest in synthetic rubber, especially in the car and construction industries. Isoprene is among the principal raw materials that are used in the manufacturing of synthetic rubbers like polyisoprene and SBR, or styrene-butadiene rubber. Increasing vehicle output all over the world and subsequent increases in demand for tires and other automobile parts are naturally influencing the growth in isoprene demand.
- Isoprene Demand with Rising Tire Production and Vehicle Output: Automotive is still a highly significant consumer of synthetic rubber produced from isoprene. The global automotive market, in particular in developing economies like Asia-Pacific, remains on a roll and keeps gaining speed. Demand for isoprene continues to rise because of the incessant demand from the tire industry to manufacture tires using synthetic rubber. Vehicle registrations continue to climb, and, more significantly, investments in infrastructure across the world, especially in developing markets, boost the consumption of synthetic rubber in the tire industry.
- Technological Advancements: Advancements in isoprene production technologies, especially bio-based isoprene from renewable sources such as sugarcane and biomass, are pushing the market increasingly. These bio-based alternatives are regarded as more sustainable and environmentally friendly compared with traditional fossil-based isoprene. Rapid push toward greener and more sustainable manufacturing practice presents a sound driver for the market.
- A Sustainable Alternative to Fossil Fuel-Derived Isoprene: The shift toward bio-based isoprene - particularly production from renewable sources rather than fossil fuel, which is materializing in the isoprene market of late. It represents a strategy deployed by companies like Braskem and Kraton Polymers to position themselves with the yet-growing demand for sustainability and low-carbon footprint.
- Electric Vehicles Driving Changes in Synthetic Rubber Demand and Future Market Trends: Electric vehicles (EV) have also been a growth driver, although traditional cars have been the primary drivers of demand for synthetic rubber. Because EVs use special tires and even special parts requiring synthetic rubber, the demand could further change based on future designs or technologies in those sectors. The global electric vehicle industry is still on the rise, and manufacturers are updating their production lines according to what would be required for this growing industry.
- Strategic Alliances and Mergers in the Isoprene Market: Companies involved in the isoprene chain are now entering strategic alliances and joint ventures as well as mergers to expand capacities and tap into new markets. Collaboration between bio-based isoprene producers with traditional chemical companies can allow for more efficient production and distribution networks. The development of greener alternatives without sacrificing scale and efficiency is eased by collaboration between petrochemical and renewable energy companies.
- Emerging Markets Fuel Growth in Isoprene Demand: The rapid industrialization in emerging markets, especially Asia-Pacific, Latin America, and Africa, is believed to hold tremendous growth opportunities for the isoprene market. High infrastructure development, automotive production, and consumer demands on the products of footwear, electronics, and medical devices drive the demand for synthetic rubber, which opens up new opportunities for market players.
- Green and Sustainable Bio-based Isoprene: Environmental concerns are picking up at an increasing pace, and hence, the need for green, sustainable, bio-based products is accelerating. Firms that could successfully produce and market bio-based isoprene or develop alternatives to environment-friendly alternatives are clearly positioned to grab the market. This will be a good opportunity to capture market share for firms investing in green technology and alternative raw material sources.
- Isoprene’s Expanding Role in Specialized Applications in Adhesives, Electronics, and Medical Devices: With new opportunities filling isoprene in specific specialized application areas such as the production of adhesives, resins, and more advanced material compounds for use in electronics and packaging applications as well as in medical devices, it serves as a high-demand driver for the new products based on isoprene. This opens new markets to specialize polymers and chemicals.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Isoprene 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 Isoprene 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
Shift toward bio-based and renewable isoprene is expected to be the key market trend.
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
On the basis of geography, the isoprene market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America
The major factors driving the isoprene market are:
1. Rising Demand for Synthetic Rubber.
2. Technological Advancements in Isoprene Production.
SIBUR Holding, Kuraray Co Ltd, JSR Corp, Goodyear Tire and Rubber Co, Royal Dutch Shell Plc, LyondellBasell Industries NV, ExxonMobil Corp, ZEON Corp, Kraton Corp, and Nizhnekamskneftekhim
The Isoprene Market is estimated to witness a CAGR of 6.9% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Isoprene Market - By Type
1.3.2 Isoprene Market - By Application
1.3.3 Isoprene Market - By End-Use Industry
1.3.4 Isoprene Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ISOPRENE 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. ISOPRENE 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. ISOPRENE MARKET - GLOBAL MARKET ANALYSIS
6.1. ISOPRENE - GLOBAL MARKET OVERVIEW
6.2. ISOPRENE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ISOPRENE MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. POLYMER GRADE
7.3.1. Overview
7.3.2. Polymer Grade Market Forecast and Analysis
7.4. CHEMICAL GRADE
7.4.1. Overview
7.4.2. Chemical Grade Market Forecast and Analysis
8. ISOPRENE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. POLYISOPRENE
8.3.1. Overview
8.3.2. Polyisoprene Market Forecast and Analysis
8.4. STYRENE-ISOPRENE-STYRENE (SIS)
8.4.1. Overview
8.4.2. Styrene-Isoprene-Styrene (SIS) Market Forecast and Analysis
8.5. ISOBUTYLENE-ISOPRENE RUBBER (IIR)
8.5.1. Overview
8.5.2. Isobutylene-Isoprene Rubber (IIR) Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. ISOPRENE MARKET - REVENUE AND FORECASTS TO 2028 - END-USE INDUSTRY
9.1. OVERVIEW
9.2. END-USE INDUSTRY MARKET FORECASTS AND ANALYSIS
9.3. TIRES
9.3.1. Overview
9.3.2. Tires Market Forecast and Analysis
9.4. ADHESIVES
9.4.1. Overview
9.4.2. Adhesives Market Forecast and Analysis
9.5. NON-TIRE
9.5.1. Overview
9.5.2. Non-Tire Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. ISOPRENE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Isoprene Market Overview
10.1.2 North America Isoprene Market Forecasts and Analysis
10.1.3 North America Isoprene Market Forecasts and Analysis - By Type
10.1.4 North America Isoprene Market Forecasts and Analysis - By Application
10.1.5 North America Isoprene Market Forecasts and Analysis - By End-Use Industry
10.1.6 North America Isoprene Market Forecasts and Analysis - By Countries
10.1.6.1 United States Isoprene Market
10.1.6.1.1 United States Isoprene Market by Type
10.1.6.1.2 United States Isoprene Market by Application
10.1.6.1.3 United States Isoprene Market by End-Use Industry
10.1.6.2 Canada Isoprene Market
10.1.6.2.1 Canada Isoprene Market by Type
10.1.6.2.2 Canada Isoprene Market by Application
10.1.6.2.3 Canada Isoprene Market by End-Use Industry
10.1.6.3 Mexico Isoprene Market
10.1.6.3.1 Mexico Isoprene Market by Type
10.1.6.3.2 Mexico Isoprene Market by Application
10.1.6.3.3 Mexico Isoprene Market by End-Use Industry
10.2. EUROPE
10.2.1 Europe Isoprene Market Overview
10.2.2 Europe Isoprene Market Forecasts and Analysis
10.2.3 Europe Isoprene Market Forecasts and Analysis - By Type
10.2.4 Europe Isoprene Market Forecasts and Analysis - By Application
10.2.5 Europe Isoprene Market Forecasts and Analysis - By End-Use Industry
10.2.6 Europe Isoprene Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Isoprene Market
10.2.6.1.1 Germany Isoprene Market by Type
10.2.6.1.2 Germany Isoprene Market by Application
10.2.6.1.3 Germany Isoprene Market by End-Use Industry
10.2.6.2 France Isoprene Market
10.2.6.2.1 France Isoprene Market by Type
10.2.6.2.2 France Isoprene Market by Application
10.2.6.2.3 France Isoprene Market by End-Use Industry
10.2.6.3 Italy Isoprene Market
10.2.6.3.1 Italy Isoprene Market by Type
10.2.6.3.2 Italy Isoprene Market by Application
10.2.6.3.3 Italy Isoprene Market by End-Use Industry
10.2.6.4 United Kingdom Isoprene Market
10.2.6.4.1 United Kingdom Isoprene Market by Type
10.2.6.4.2 United Kingdom Isoprene Market by Application
10.2.6.4.3 United Kingdom Isoprene Market by End-Use Industry
10.2.6.5 Russia Isoprene Market
10.2.6.5.1 Russia Isoprene Market by Type
10.2.6.5.2 Russia Isoprene Market by Application
10.2.6.5.3 Russia Isoprene Market by End-Use Industry
10.2.6.6 Rest of Europe Isoprene Market
10.2.6.6.1 Rest of Europe Isoprene Market by Type
10.2.6.6.2 Rest of Europe Isoprene Market by Application
10.2.6.6.3 Rest of Europe Isoprene Market by End-Use Industry
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Isoprene Market Overview
10.3.2 Asia-Pacific Isoprene Market Forecasts and Analysis
10.3.3 Asia-Pacific Isoprene Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Isoprene Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Isoprene Market Forecasts and Analysis - By End-Use Industry
10.3.6 Asia-Pacific Isoprene Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Isoprene Market
10.3.6.1.1 Australia Isoprene Market by Type
10.3.6.1.2 Australia Isoprene Market by Application
10.3.6.1.3 Australia Isoprene Market by End-Use Industry
10.3.6.2 China Isoprene Market
10.3.6.2.1 China Isoprene Market by Type
10.3.6.2.2 China Isoprene Market by Application
10.3.6.2.3 China Isoprene Market by End-Use Industry
10.3.6.3 India Isoprene Market
10.3.6.3.1 India Isoprene Market by Type
10.3.6.3.2 India Isoprene Market by Application
10.3.6.3.3 India Isoprene Market by End-Use Industry
10.3.6.4 Japan Isoprene Market
10.3.6.4.1 Japan Isoprene Market by Type
10.3.6.4.2 Japan Isoprene Market by Application
10.3.6.4.3 Japan Isoprene Market by End-Use Industry
10.3.6.5 South Korea Isoprene Market
10.3.6.5.1 South Korea Isoprene Market by Type
10.3.6.5.2 South Korea Isoprene Market by Application
10.3.6.5.3 South Korea Isoprene Market by End-Use Industry
10.3.6.6 Rest of Asia-Pacific Isoprene Market
10.3.6.6.1 Rest of Asia-Pacific Isoprene Market by Type
10.3.6.6.2 Rest of Asia-Pacific Isoprene Market by Application
10.3.6.6.3 Rest of Asia-Pacific Isoprene Market by End-Use Industry
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Isoprene Market Overview
10.4.2 Middle East and Africa Isoprene Market Forecasts and Analysis
10.4.3 Middle East and Africa Isoprene Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Isoprene Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Isoprene Market Forecasts and Analysis - By End-Use Industry
10.4.6 Middle East and Africa Isoprene Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Isoprene Market
10.4.6.1.1 South Africa Isoprene Market by Type
10.4.6.1.2 South Africa Isoprene Market by Application
10.4.6.1.3 South Africa Isoprene Market by End-Use Industry
10.4.6.2 Saudi Arabia Isoprene Market
10.4.6.2.1 Saudi Arabia Isoprene Market by Type
10.4.6.2.2 Saudi Arabia Isoprene Market by Application
10.4.6.2.3 Saudi Arabia Isoprene Market by End-Use Industry
10.4.6.3 U.A.E Isoprene Market
10.4.6.3.1 U.A.E Isoprene Market by Type
10.4.6.3.2 U.A.E Isoprene Market by Application
10.4.6.3.3 U.A.E Isoprene Market by End-Use Industry
10.4.6.4 Rest of Middle East and Africa Isoprene Market
10.4.6.4.1 Rest of Middle East and Africa Isoprene Market by Type
10.4.6.4.2 Rest of Middle East and Africa Isoprene Market by Application
10.4.6.4.3 Rest of Middle East and Africa Isoprene Market by End-Use Industry
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Isoprene Market Overview
10.5.2 South and Central America Isoprene Market Forecasts and Analysis
10.5.3 South and Central America Isoprene Market Forecasts and Analysis - By Type
10.5.4 South and Central America Isoprene Market Forecasts and Analysis - By Application
10.5.5 South and Central America Isoprene Market Forecasts and Analysis - By End-Use Industry
10.5.6 South and Central America Isoprene Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Isoprene Market
10.5.6.1.1 Brazil Isoprene Market by Type
10.5.6.1.2 Brazil Isoprene Market by Application
10.5.6.1.3 Brazil Isoprene Market by End-Use Industry
10.5.6.2 Argentina Isoprene Market
10.5.6.2.1 Argentina Isoprene Market by Type
10.5.6.2.2 Argentina Isoprene Market by Application
10.5.6.2.3 Argentina Isoprene Market by End-Use Industry
10.5.6.3 Rest of South and Central America Isoprene Market
10.5.6.3.1 Rest of South and Central America Isoprene Market by Type
10.5.6.3.2 Rest of South and Central America Isoprene Market by Application
10.5.6.3.3 Rest of South and Central America Isoprene Market by End-Use 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. ISOPRENE MARKET, KEY COMPANY PROFILES
12.1. JSR CORPORATION
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. KURARAY CO., LTD.
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. LOTTE CHEMICAL CORPORATION
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. LYONDELLBASELL INDUSTRIES HOLDINGS B.V.
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. PJSC NIZHNEKAMSKNEFTEKHIM
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. SHELL INTERNATIONAL B.V.
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. SIBUR INTERNATIONAL GMBH
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. SINOPEC CORP.
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. THE GOODYEAR TIRE AND RUBBER COMPANY
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.JSR Corporation
2.Kuraray Co., Ltd.
3.Lotte Chemical Corporation
4.LyondellBasell Industries Holdings B.V.
5.PJSC Nizhnekamskneftekhim
6.Shell International B.V.
7.SIBUR International GmbH
8.Sinopec Corp.
9.The Goodyear Tire and Rubber Company
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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