Maleic Anhydride Market Growth, Top Key Players, and Regional Forecast by 2031

Coverage: Maleic Anhydride Market covers analysis By Raw Material (Benzene, Butane); Application (Unsaturated Polyester Resins (UPR), 1, 4-butanediol (1, 4-BDO), Lubricating Oil Additives, Copolymers) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPRE00005640
  • Category : Chemicals and Materials
  • No. of Pages : 150
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Maleic Anhydride Market Strategic Insights and Updates by 2031

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The Maleic Anhydride Market is expected to register a CAGR of 3.3% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.

The report is segmented by raw materials (benzene and butane). The report is further segmented by end-use (lubricants, agriculture, paints and coatings, chemical synthesis, plastic manufacturing, 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 Report

The report Maleic Anhydride 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.

Maleic Anhydride Market Segmentation

Raw Materials
  • Benzene
  • Butane
End-Use
  • Lubricants
  • Agriculture
  • Paints and Coatings
  • Chemical Synthesis
  • Plastic Manufacturing

Strategic Insights

Maleic Anhydride Market Growth Drivers
  • Maleic Anhydride in Automotive Industry: One of the principal drivers of the demand for maleic anhydride has been the automobile industry, primarily in manufacturing unsaturated polyester resins. UPRs are broadly used in the car manufacturing sector because they play a very crucial role in the car body part production of lightweight and rugged composite material, which enhances fuel efficiency and reduces emissions. Demand for UPRs, and thereby maleic anhydride, remains strong with the trends in the current scenario on fuel-efficient vehicles and the adoption of eco-friendly innovation.
  • Role of Maleic Anhydride in Construction: Maleic anhydride is indispensable for resin production in construction industries. Unsaturated polyester resins are applied for rooftops, pipes, flooring, etc. In the construction industries, with growing urbanization and infrastructure in all parts of the world, especially developing nations, maleic anhydride is gaining momentum. With the growth of the construction industry into more durable, long-lived, and sustainable, so also the production of composite materials using maleic anhydride.
  • Maleic Anhydride in Agrochemicals: Maleic anhydride is widely used as a raw material in agrochemicals, primarily fungicides and herbicides, because of its ability to enhance the stability and effectiveness of chemicals. The increasing global demand for agricultural products, fueled by the rising world population and dietary diversification, increases agrochemical demand. As more efficient and environmentally friendly agrochemical products are invented, maleic anhydride's role is expected to increase, especially in crop protection chemicals synthesis.
Maleic Anhydride Market Future Trends
  • Shift to Bio-Based Maleic Anhydride: With increasing environmental concerns, sustainability is becoming the preference; hence, there is a sharp increase in the maleic anhydride market toward a bio-based production trend. The established products are based on petrochemical feedstocks, though renewable feedstocks such as sugar, plant oils, etc., will dominate the market for maleic anhydride. The shift results not only in a diminished carbon footprint but also places these products in line with world initiatives toward sustainably.
  • Technological Advances in Production: Advances in technology have improved maleic anhydride production efficiency. New processes, such as newer catalysts with higher efficiencies or the design of oxidative dehydrogenation processes, have reduced energy consumption and consequently increased yield. Innovation thus reduces production costs and further boosts sustainability.
  • Maleic Anhydride in Specialty Chemicals: Maleic anhydride is rapidly becoming used for specialty chemicals like plastic additives, lubricants, and coatings. The use of high-performance materials by industries such as electronics, automotive, and coatings is among the most critical trends observed in the industry. Specialty chemicals make possible better performance of products. Therefore, increased demand for maleic anhydride derivatives in the market is occurring.
Maleic Anhydride Market Opportunities
  • Market Growth in Emerging Regions: Maleic anhydride manufacturers to gain market shares in the fast-emerging markets of Asia-Pacific, Latin America, and parts of Africa. Fast industrialization, construction of infrastructure, and related auto industries in the regions shall attract the demand for maleic anhydride-based products. Moreover, these geographies also provide an opportunity with respect to the cost effective nature of manufacturing that enhances prospects even more.
  • Opportunities in Maleic Anhydride Derivatives: Maleic anhydride derivatives, such as butanediol (BDO) and tetrahydrofuran (THF), have wide applicability in automotive, pharmaceutical, and textiles industries and constitute a high growth opportunity. New, high-performance derivatives can unlock new revenue streams for players in the maleic anhydride market that present growth opportunities as well as diversity options.
  • Focus on Sustainable Maleic Anhydride Products: With the increased regulatory pressure, there is a scope to focus on the development of environment-friendly maleic anhydride-based products, such as offering bio-based resins, coatings, and composites that meet the stringent environmental standards. In this regard, manufacturers who invest in sustainable production methods and products will not only be following the evolving regulations but will also gain a competitive edge in the marketplace since consumers and industries are increasingly focused on sustainability.

Market Report Scope

Key Selling Points

  • Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Maleic Anhydride 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 Maleic Anhydride 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
World Geography

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

Frequently Asked Questions


What is the future trend for maleic anhydride market?

Rising preference for specialty chemicals is expected to be the key market trend.

What are the deliverable formats of the maleic anhydride market?

The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.

Which regions are covered in the report?

On the basis of geography, the maleic anhydride market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America

What are the key players operating in the maleic anhydride market?

Huntsman Corp, IG Petrochemicals Ltd, Cepsa, LANXESS AG, Mitsubishi Chemical Corp, Nippon Shokubai Co Ltd, Polynt-Reichhold Group, Ruse Chemicals, Yongsan Chemical Co Ltd, Zibo Qixiang Tengda Chemical Co Ltd

What is the expected CAGR of the Maleic Anhydride Market?

The Maleic Anhydride Market is estimated to witness a CAGR of 3.3% from 2023 to 2031

What are the driving factors impacting the maleic anhydride market?

The major factors driving the maleic anhydride market are:

1. Increasing Demand from the Automotive Industry.

2. Growth in Construction and Infrastructure Development.

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 Maleic Anhydride Market - By Raw Material
1.3.2 Maleic Anhydride Market - By Application
1.3.3 Maleic Anhydride Market - By Region
1.3.3.1 By Country

2. KEY TAKEAWAYS

3. RESEARCH METHODOLOGY

4. MALEIC ANHYDRIDE 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. MALEIC ANHYDRIDE 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. MALEIC ANHYDRIDE MARKET - GLOBAL MARKET ANALYSIS
6.1. MALEIC ANHYDRIDE - GLOBAL MARKET OVERVIEW
6.2. MALEIC ANHYDRIDE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING

7. MALEIC ANHYDRIDE MARKET - REVENUE AND FORECASTS TO 2028 - RAW MATERIAL
7.1. OVERVIEW
7.2. RAW MATERIAL MARKET FORECASTS AND ANALYSIS
7.3. BENZENE
7.3.1. Overview
7.3.2. Benzene Market Forecast and Analysis
7.4. BUTANE
7.4.1. Overview
7.4.2. Butane Market Forecast and Analysis
8. MALEIC ANHYDRIDE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. UNSATURATED POLYESTER RESINS (UPR)
8.3.1. Overview
8.3.2. Unsaturated Polyester Resins (UPR) Market Forecast and Analysis
8.4. 1
8.4.1. Overview
8.4.2. 1 Market Forecast and Analysis
8.5. 4-BUTANEDIOL (1
8.5.1. Overview
8.5.2. 4-butanediol (1 Market Forecast and Analysis
8.6. 4-BDO)
8.6.1. Overview
8.6.2. 4-BDO) Market Forecast and Analysis
8.7. LUBRICATING OIL ADDITIVES
8.7.1. Overview
8.7.2. Lubricating Oil Additives Market Forecast and Analysis
8.8. COPOLYMERS
8.8.1. Overview
8.8.2. Copolymers Market Forecast and Analysis

9. MALEIC ANHYDRIDE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Maleic Anhydride Market Overview
9.1.2 North America Maleic Anhydride Market Forecasts and Analysis
9.1.3 North America Maleic Anhydride Market Forecasts and Analysis - By Raw Material
9.1.4 North America Maleic Anhydride Market Forecasts and Analysis - By Application
9.1.5 North America Maleic Anhydride Market Forecasts and Analysis - By Countries
9.1.5.1 United States Maleic Anhydride Market
9.1.5.1.1 United States Maleic Anhydride Market by Raw Material
9.1.5.1.2 United States Maleic Anhydride Market by Application
9.1.5.2 Canada Maleic Anhydride Market
9.1.5.2.1 Canada Maleic Anhydride Market by Raw Material
9.1.5.2.2 Canada Maleic Anhydride Market by Application
9.1.5.3 Mexico Maleic Anhydride Market
9.1.5.3.1 Mexico Maleic Anhydride Market by Raw Material
9.1.5.3.2 Mexico Maleic Anhydride Market by Application
9.2. EUROPE
9.2.1 Europe Maleic Anhydride Market Overview
9.2.2 Europe Maleic Anhydride Market Forecasts and Analysis
9.2.3 Europe Maleic Anhydride Market Forecasts and Analysis - By Raw Material
9.2.4 Europe Maleic Anhydride Market Forecasts and Analysis - By Application
9.2.5 Europe Maleic Anhydride Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Maleic Anhydride Market
9.2.5.1.1 Germany Maleic Anhydride Market by Raw Material
9.2.5.1.2 Germany Maleic Anhydride Market by Application
9.2.5.2 France Maleic Anhydride Market
9.2.5.2.1 France Maleic Anhydride Market by Raw Material
9.2.5.2.2 France Maleic Anhydride Market by Application
9.2.5.3 Italy Maleic Anhydride Market
9.2.5.3.1 Italy Maleic Anhydride Market by Raw Material
9.2.5.3.2 Italy Maleic Anhydride Market by Application
9.2.5.4 United Kingdom Maleic Anhydride Market
9.2.5.4.1 United Kingdom Maleic Anhydride Market by Raw Material
9.2.5.4.2 United Kingdom Maleic Anhydride Market by Application
9.2.5.5 Russia Maleic Anhydride Market
9.2.5.5.1 Russia Maleic Anhydride Market by Raw Material
9.2.5.5.2 Russia Maleic Anhydride Market by Application
9.2.5.6 Rest of Europe Maleic Anhydride Market
9.2.5.6.1 Rest of Europe Maleic Anhydride Market by Raw Material
9.2.5.6.2 Rest of Europe Maleic Anhydride Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Maleic Anhydride Market Overview
9.3.2 Asia-Pacific Maleic Anhydride Market Forecasts and Analysis
9.3.3 Asia-Pacific Maleic Anhydride Market Forecasts and Analysis - By Raw Material
9.3.4 Asia-Pacific Maleic Anhydride Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Maleic Anhydride Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Maleic Anhydride Market
9.3.5.1.1 Australia Maleic Anhydride Market by Raw Material
9.3.5.1.2 Australia Maleic Anhydride Market by Application
9.3.5.2 China Maleic Anhydride Market
9.3.5.2.1 China Maleic Anhydride Market by Raw Material
9.3.5.2.2 China Maleic Anhydride Market by Application
9.3.5.3 India Maleic Anhydride Market
9.3.5.3.1 India Maleic Anhydride Market by Raw Material
9.3.5.3.2 India Maleic Anhydride Market by Application
9.3.5.4 Japan Maleic Anhydride Market
9.3.5.4.1 Japan Maleic Anhydride Market by Raw Material
9.3.5.4.2 Japan Maleic Anhydride Market by Application
9.3.5.5 South Korea Maleic Anhydride Market
9.3.5.5.1 South Korea Maleic Anhydride Market by Raw Material
9.3.5.5.2 South Korea Maleic Anhydride Market by Application
9.3.5.6 Rest of Asia-Pacific Maleic Anhydride Market
9.3.5.6.1 Rest of Asia-Pacific Maleic Anhydride Market by Raw Material
9.3.5.6.2 Rest of Asia-Pacific Maleic Anhydride Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Maleic Anhydride Market Overview
9.4.2 Middle East and Africa Maleic Anhydride Market Forecasts and Analysis
9.4.3 Middle East and Africa Maleic Anhydride Market Forecasts and Analysis - By Raw Material
9.4.4 Middle East and Africa Maleic Anhydride Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Maleic Anhydride Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Maleic Anhydride Market
9.4.5.1.1 South Africa Maleic Anhydride Market by Raw Material
9.4.5.1.2 South Africa Maleic Anhydride Market by Application
9.4.5.2 Saudi Arabia Maleic Anhydride Market
9.4.5.2.1 Saudi Arabia Maleic Anhydride Market by Raw Material
9.4.5.2.2 Saudi Arabia Maleic Anhydride Market by Application
9.4.5.3 U.A.E Maleic Anhydride Market
9.4.5.3.1 U.A.E Maleic Anhydride Market by Raw Material
9.4.5.3.2 U.A.E Maleic Anhydride Market by Application
9.4.5.4 Rest of Middle East and Africa Maleic Anhydride Market
9.4.5.4.1 Rest of Middle East and Africa Maleic Anhydride Market by Raw Material
9.4.5.4.2 Rest of Middle East and Africa Maleic Anhydride Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Maleic Anhydride Market Overview
9.5.2 South and Central America Maleic Anhydride Market Forecasts and Analysis
9.5.3 South and Central America Maleic Anhydride Market Forecasts and Analysis - By Raw Material
9.5.4 South and Central America Maleic Anhydride Market Forecasts and Analysis - By Application
9.5.5 South and Central America Maleic Anhydride Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Maleic Anhydride Market
9.5.5.1.1 Brazil Maleic Anhydride Market by Raw Material
9.5.5.1.2 Brazil Maleic Anhydride Market by Application
9.5.5.2 Argentina Maleic Anhydride Market
9.5.5.2.1 Argentina Maleic Anhydride Market by Raw Material
9.5.5.2.2 Argentina Maleic Anhydride Market by Application
9.5.5.3 Rest of South and Central America Maleic Anhydride Market
9.5.5.3.1 Rest of South and Central America Maleic Anhydride Market by Raw Material
9.5.5.3.2 Rest of South and Central America Maleic Anhydride Market by Application

10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS

11. MALEIC ANHYDRIDE MARKET, KEY COMPANY PROFILES
11.1. HUNTSMAN INTERNATIONAL LLC
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. MITSUBISHI CHEMICAL CORPORATION
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. LANXESS
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. POLYNT
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. YONGSAN CHEMICALS, INC
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. RUSE CHEMICALS
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. NIPPON SHOKUBAI CO., LTD
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SHIJIAZHUANG BAILONG CHEMICAL CO.,LTD
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. NINGBO JIANGNING CHEMICAL CO. LTD.
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. MOL GROUP
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments

12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies

1. Huntsman International LLC
2. Mitsubishi Chemical Corporation
3. LANXESS
4. Polynt
5. YONGSAN CHEMICALS, INC
6. Ruse Chemicals
7. NIPPON SHOKUBAI CO., LTD
8. Shijiazhuang Bailong Chemical Co.,Ltd
9. Ningbo Jiangning Chemical Co. Ltd.
10. MOL Group

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. 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.

  1. 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:

Research Methodology

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.

  1. 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.

  1. 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.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

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