The Isopropyl Alcohol Market is expected to register a CAGR of 6.8% 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 application (process solvent, cleaning agents, coating solvents, chemical intermediates, and others). The report further presents an analysis based on the end-use (cosmetics and personal care, food and beverage, pharmaceutical, paints and coatings, chemicals, 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 regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Isopropyl Alcohol 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.
Isopropyl Alcohol Market Segmentation
Application- Process Solvent
- Cleaning Agents
- Coating Solvents
- Chemical Intermediates
- Cosmetics and Personal Care
- Food and Beverage
- Pharmaceutical
- Paints and Coatings
- Chemicals
Strategic Insights
Isopropyl Alcohol Market Growth Drivers- Isopropyl Alcohol (IPA) Demand Surge Driven by Global Health and Hygiene: The health and hygiene consciousness that spread throughout the globe in the aftermath of the COVID-19 pandemic increased the demand for isopropyl alcohol (IPA) for the formulation of disinfectants and hand sanitizers. As an antiseptic and cleaner, IPA works extremely well when applied to the affected areas, thus becoming a major component of disinfecting formulations.
- Industrial Cleaning and Degreasing Boosts IPA Use in Automotive: IPA is mainly utilized as an industrial cleaning agent in processes associated with electrical, automotive, and metal industries. It finds applications in cleaning delicate equipment, grease removal from machinery, elimination of oils and other impurities from machinery, and in preserving the functionality of electronic components. Increasing expansion of automotive and manufacturing production globally drives up the demand for IPA as a cleaning solvent and degreaser. This demand is supported by the increasing complication of machinery and the demand for better maintenance practices.
- Growing Role in Pharmaceuticals and Personal Care Products: Isopropyl alcohol is an intermediate that is widely used in the pharmaceutical and personal care industries. It is used in the preparation of medication and topical formulations, disinfectants, and cosmetic products, such as perfumes, creams, and hair care items. This is where the growth is mainly concentrated in this industry, particularly the consumer spending on healthcare and personal care in emerging markets. Its solubilizing properties and its preservative characteristics make it an excellent ingredient in many pharmaceutical and cosmetic applications.
- Bio-Based Isopropyl Alcohol, A Sustainable Alternative to Petroleum-Derived IPA: As environmental concerns grow and regulatory requirements become more stringent, the trend today is towards bio-based isopropyl alcohol derived from renewable resources, such as biomass or sugarcane. Bio-based IPA offers a far more sustainable alternative to the petroleum-derived IPA of old, so reducing the carbon footprint that companies are in need of making in order to meet future global sustainability initiatives.
- E-Commerce Growth Boosting Demand for IPA: Many factors have contributed to the growth of e-commerce and online retail, and the acceleration has been induced by the COVID-19 pandemic. Among the trends driving this deployment of IPA is in the cleaning and sanitizing products, packages, and delivery equipment to ensure the contaminants are removed from the goods.
- Advancements in Production Technologies: Various advanced production technologies, such as more energy-efficient and cost-effective methods of production, enhance the isopropyl alcohol market. Such techniques, including catalytic hydrogenation and greener catalysts, enhance the efficiency of IPA production processes, reduce energy consumption, and subsequently decrease emissions. Those technological gains should lower the cost of production and increase profitability for IPA manufacturers over the long term and thereby accelerating further growth in the market.
- Growing Demand in Emerging Markets: The demand for isopropyl alcohol in the emerging markets such as China, India, Brazil, and Southeast Asia is considerably increasing. Industrialization, health care, and urbanization are key factors upscaling the consumption of IPA in the above-mentioned regions. Companies are highly saturated with prospects to grow with rising disposable income and higher use of drugs, cosmetics, and hygiene products. Establishing manufacturing facilities or even setting up any kind of distribution network within these geographies will provide more prominent benefits to the IPA producers.
- IPA in Vaccine Production, Sterilization, and Drug Formulations: IPA plays a vital role in the production of pharmaceutical drugs, which include vaccines and disinfectants. The healthcare industry is growing rapidly globally with the aging population, increased awareness of health care, and new diseases that are arising. In this regard, vaccine production has been gaining much attention in recent times with the COVID-19 pandemic and IPA in sterilization applications in clinical units and in the manufacture of vaccines. Companies that can be able to provide such high-quality IPA stand to benefit in this potentially growing demand.
- IPA in Cosmetics, Skincare, and Beauty Product Formulations: The personal care and cosmetics sector is fast growing, especially in emerging markets where soaring incomes and changing lifestyles are raising the demand for skincare, haircare, and beauty products. IPA is used primarily as a solvent and preservative in cosmetic formulations such as perfumes, lotions, and cleaning agents. Premium and organic products are the way forward with changing consumer preferences and there is scope for providing good quality safe and effective ingredients in cosmetics and personal care formulation with the demand.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Isopropyl Alcohol 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 Isopropyl Alcohol 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 towards eco-friendly and bio-based IPA 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 isopropyl alcohol market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America
Shell Plc, Exxon Mobil Corp, Dow Inc, INEOS Group Ltd, Kellin Chemicals, Shandong Chemichase Chemical Co Ltd, Mitsui Chemicals Inc, LG Chem Ltd, and LCY GROUP
The Isopropyl Alcohol Market is estimated to witness a CAGR of 6.8% from 2023 to 2031
The major factors driving the isopropyl alcohol market are:
1. Increasing Use in Industrial and Automotive Cleaning.
2. Rising Demand in Pharmaceuticals and Cosmetics.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Isopropyl Alcohol Market - By Production Method
1.3.2 Isopropyl Alcohol Market - By Application
1.3.3 Isopropyl Alcohol Market - By End Use Industry
1.3.4 Isopropyl Alcohol Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ISOPROPYL ALCOHOL MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. ISOPROPYL ALCOHOL 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. ISOPROPYL ALCOHOL MARKET - GLOBAL MARKET ANALYSIS
6.1. ISOPROPYL ALCOHOL - GLOBAL MARKET OVERVIEW
6.2. ISOPROPYL ALCOHOL - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ISOPROPYL ALCOHOL MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCTION METHOD
7.1. OVERVIEW
7.2. PRODUCTION METHOD MARKET FORECASTS AND ANALYSIS
7.3. INDIRECT HYDRATION
7.3.1. Overview
7.3.2. Indirect Hydration Market Forecast and Analysis
7.4. DIRECT HYDRATION
7.4.1. Overview
7.4.2. Direct Hydration Market Forecast and Analysis
8. ISOPROPYL ALCOHOL MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. SOLVENTS
8.3.1. Overview
8.3.2. Solvents Market Forecast and Analysis
8.4. CLEANING AGENT
8.4.1. Overview
8.4.2. Cleaning Agent Market Forecast and Analysis
8.5. INTERMEDIATE
8.5.1. Overview
8.5.2. Intermediate Market Forecast and Analysis
8.6. DISINFECTANTS
8.6.1. Overview
8.6.2. Disinfectants Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. ISOPROPYL ALCOHOL MARKET - REVENUE AND FORECASTS TO 2028 - END USE INDUSTRY
9.1. OVERVIEW
9.2. END USE INDUSTRY MARKET FORECASTS AND ANALYSIS
9.3. COSMETICS AND PERSONAL CARE
9.3.1. Overview
9.3.2. Cosmetics and Personal Care Market Forecast and Analysis
9.4. PHARMACEUTICALS
9.4.1. Overview
9.4.2. Pharmaceuticals Market Forecast and Analysis
9.5. PAINTS AND COATINGS
9.5.1. Overview
9.5.2. Paints and Coatings Market Forecast and Analysis
9.6. CHEMICALS
9.6.1. Overview
9.6.2. Chemicals Market Forecast and Analysis
9.7. OTHERS
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis
10. ISOPROPYL ALCOHOL MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Isopropyl Alcohol Market Overview
10.1.2 North America Isopropyl Alcohol Market Forecasts and Analysis
10.1.3 North America Isopropyl Alcohol Market Forecasts and Analysis - By Production Method
10.1.4 North America Isopropyl Alcohol Market Forecasts and Analysis - By Application
10.1.5 North America Isopropyl Alcohol Market Forecasts and Analysis - By End Use Industry
10.1.6 North America Isopropyl Alcohol Market Forecasts and Analysis - By Countries
10.1.6.1 United States Isopropyl Alcohol Market
10.1.6.1.1 United States Isopropyl Alcohol Market by Production Method
10.1.6.1.2 United States Isopropyl Alcohol Market by Application
10.1.6.1.3 United States Isopropyl Alcohol Market by End Use Industry
10.1.6.2 Canada Isopropyl Alcohol Market
10.1.6.2.1 Canada Isopropyl Alcohol Market by Production Method
10.1.6.2.2 Canada Isopropyl Alcohol Market by Application
10.1.6.2.3 Canada Isopropyl Alcohol Market by End Use Industry
10.1.6.3 Mexico Isopropyl Alcohol Market
10.1.6.3.1 Mexico Isopropyl Alcohol Market by Production Method
10.1.6.3.2 Mexico Isopropyl Alcohol Market by Application
10.1.6.3.3 Mexico Isopropyl Alcohol Market by End Use Industry
10.2. EUROPE
10.2.1 Europe Isopropyl Alcohol Market Overview
10.2.2 Europe Isopropyl Alcohol Market Forecasts and Analysis
10.2.3 Europe Isopropyl Alcohol Market Forecasts and Analysis - By Production Method
10.2.4 Europe Isopropyl Alcohol Market Forecasts and Analysis - By Application
10.2.5 Europe Isopropyl Alcohol Market Forecasts and Analysis - By End Use Industry
10.2.6 Europe Isopropyl Alcohol Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Isopropyl Alcohol Market
10.2.6.1.1 Germany Isopropyl Alcohol Market by Production Method
10.2.6.1.2 Germany Isopropyl Alcohol Market by Application
10.2.6.1.3 Germany Isopropyl Alcohol Market by End Use Industry
10.2.6.2 France Isopropyl Alcohol Market
10.2.6.2.1 France Isopropyl Alcohol Market by Production Method
10.2.6.2.2 France Isopropyl Alcohol Market by Application
10.2.6.2.3 France Isopropyl Alcohol Market by End Use Industry
10.2.6.3 Italy Isopropyl Alcohol Market
10.2.6.3.1 Italy Isopropyl Alcohol Market by Production Method
10.2.6.3.2 Italy Isopropyl Alcohol Market by Application
10.2.6.3.3 Italy Isopropyl Alcohol Market by End Use Industry
10.2.6.4 United Kingdom Isopropyl Alcohol Market
10.2.6.4.1 United Kingdom Isopropyl Alcohol Market by Production Method
10.2.6.4.2 United Kingdom Isopropyl Alcohol Market by Application
10.2.6.4.3 United Kingdom Isopropyl Alcohol Market by End Use Industry
10.2.6.5 Russia Isopropyl Alcohol Market
10.2.6.5.1 Russia Isopropyl Alcohol Market by Production Method
10.2.6.5.2 Russia Isopropyl Alcohol Market by Application
10.2.6.5.3 Russia Isopropyl Alcohol Market by End Use Industry
10.2.6.6 Rest of Europe Isopropyl Alcohol Market
10.2.6.6.1 Rest of Europe Isopropyl Alcohol Market by Production Method
10.2.6.6.2 Rest of Europe Isopropyl Alcohol Market by Application
10.2.6.6.3 Rest of Europe Isopropyl Alcohol Market by End Use Industry
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Isopropyl Alcohol Market Overview
10.3.2 Asia-Pacific Isopropyl Alcohol Market Forecasts and Analysis
10.3.3 Asia-Pacific Isopropyl Alcohol Market Forecasts and Analysis - By Production Method
10.3.4 Asia-Pacific Isopropyl Alcohol Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Isopropyl Alcohol Market Forecasts and Analysis - By End Use Industry
10.3.6 Asia-Pacific Isopropyl Alcohol Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Isopropyl Alcohol Market
10.3.6.1.1 Australia Isopropyl Alcohol Market by Production Method
10.3.6.1.2 Australia Isopropyl Alcohol Market by Application
10.3.6.1.3 Australia Isopropyl Alcohol Market by End Use Industry
10.3.6.2 China Isopropyl Alcohol Market
10.3.6.2.1 China Isopropyl Alcohol Market by Production Method
10.3.6.2.2 China Isopropyl Alcohol Market by Application
10.3.6.2.3 China Isopropyl Alcohol Market by End Use Industry
10.3.6.3 India Isopropyl Alcohol Market
10.3.6.3.1 India Isopropyl Alcohol Market by Production Method
10.3.6.3.2 India Isopropyl Alcohol Market by Application
10.3.6.3.3 India Isopropyl Alcohol Market by End Use Industry
10.3.6.4 Japan Isopropyl Alcohol Market
10.3.6.4.1 Japan Isopropyl Alcohol Market by Production Method
10.3.6.4.2 Japan Isopropyl Alcohol Market by Application
10.3.6.4.3 Japan Isopropyl Alcohol Market by End Use Industry
10.3.6.5 South Korea Isopropyl Alcohol Market
10.3.6.5.1 South Korea Isopropyl Alcohol Market by Production Method
10.3.6.5.2 South Korea Isopropyl Alcohol Market by Application
10.3.6.5.3 South Korea Isopropyl Alcohol Market by End Use Industry
10.3.6.6 Rest of Asia-Pacific Isopropyl Alcohol Market
10.3.6.6.1 Rest of Asia-Pacific Isopropyl Alcohol Market by Production Method
10.3.6.6.2 Rest of Asia-Pacific Isopropyl Alcohol Market by Application
10.3.6.6.3 Rest of Asia-Pacific Isopropyl Alcohol Market by End Use Industry
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Isopropyl Alcohol Market Overview
10.4.2 Middle East and Africa Isopropyl Alcohol Market Forecasts and Analysis
10.4.3 Middle East and Africa Isopropyl Alcohol Market Forecasts and Analysis - By Production Method
10.4.4 Middle East and Africa Isopropyl Alcohol Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Isopropyl Alcohol Market Forecasts and Analysis - By End Use Industry
10.4.6 Middle East and Africa Isopropyl Alcohol Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Isopropyl Alcohol Market
10.4.6.1.1 South Africa Isopropyl Alcohol Market by Production Method
10.4.6.1.2 South Africa Isopropyl Alcohol Market by Application
10.4.6.1.3 South Africa Isopropyl Alcohol Market by End Use Industry
10.4.6.2 Saudi Arabia Isopropyl Alcohol Market
10.4.6.2.1 Saudi Arabia Isopropyl Alcohol Market by Production Method
10.4.6.2.2 Saudi Arabia Isopropyl Alcohol Market by Application
10.4.6.2.3 Saudi Arabia Isopropyl Alcohol Market by End Use Industry
10.4.6.3 U.A.E Isopropyl Alcohol Market
10.4.6.3.1 U.A.E Isopropyl Alcohol Market by Production Method
10.4.6.3.2 U.A.E Isopropyl Alcohol Market by Application
10.4.6.3.3 U.A.E Isopropyl Alcohol Market by End Use Industry
10.4.6.4 Rest of Middle East and Africa Isopropyl Alcohol Market
10.4.6.4.1 Rest of Middle East and Africa Isopropyl Alcohol Market by Production Method
10.4.6.4.2 Rest of Middle East and Africa Isopropyl Alcohol Market by Application
10.4.6.4.3 Rest of Middle East and Africa Isopropyl Alcohol Market by End Use Industry
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Isopropyl Alcohol Market Overview
10.5.2 South and Central America Isopropyl Alcohol Market Forecasts and Analysis
10.5.3 South and Central America Isopropyl Alcohol Market Forecasts and Analysis - By Production Method
10.5.4 South and Central America Isopropyl Alcohol Market Forecasts and Analysis - By Application
10.5.5 South and Central America Isopropyl Alcohol Market Forecasts and Analysis - By End Use Industry
10.5.6 South and Central America Isopropyl Alcohol Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Isopropyl Alcohol Market
10.5.6.1.1 Brazil Isopropyl Alcohol Market by Production Method
10.5.6.1.2 Brazil Isopropyl Alcohol Market by Application
10.5.6.1.3 Brazil Isopropyl Alcohol Market by End Use Industry
10.5.6.2 Argentina Isopropyl Alcohol Market
10.5.6.2.1 Argentina Isopropyl Alcohol Market by Production Method
10.5.6.2.2 Argentina Isopropyl Alcohol Market by Application
10.5.6.2.3 Argentina Isopropyl Alcohol Market by End Use Industry
10.5.6.3 Rest of South and Central America Isopropyl Alcohol Market
10.5.6.3.1 Rest of South and Central America Isopropyl Alcohol Market by Production Method
10.5.6.3.2 Rest of South and Central America Isopropyl Alcohol Market by Application
10.5.6.3.3 Rest of South and Central America Isopropyl Alcohol 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. ISOPROPYL ALCOHOL MARKET, KEY COMPANY PROFILES
12.1. AVANTOR, INC.
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. CARBOCLOR SA
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. CHINA PETROLEUM AND 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. DOW CHEMICAL COMPANY
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. EXXON MOBIL CORPORATION
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. JIANGSU DENOIR TECHNOLOGY CO. LTD
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. LG CHEM
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. MITSUBISHI CHEMICAL 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. TOKUYAMA CORPORATION
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. ROYAL DUTCH SHELL PLC
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.Avantor, Inc.
2.Carboclor SA
3.China Petroleum and Chemical Corporation
4.Dow Chemical Company
5.Exxon Mobil Corporation
6.Jiangsu Denoir Technology Co. Ltd
7.LG Chem
8.Mitsubishi Chemical Corporation
9.Tokuyama Corporation
10.Royal Dutch Shell Plc
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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