The Monochloroacetic Acid Market is expected to register a CAGR of 6% 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 Form (Crystalline, Liquid, and Flakes). The report presents analysis based on Application (Carboxymethylcellulose, Agrochemicals, Surfactants, Thioglycolic Acid, and Others). Based on End-Use Industry the report is segmented into (Pharmaceuticals, Chemical, Food and Beverages, Agriculture, and Others). 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 Monochloroacetic Acid 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.
Monochloroacetic Acid Market Segmentation
Form- Crystalline
- Liquid
- Flakes
- Carboxymethylcellulose
- Agrochemicals
- Surfactants
- Thioglycolic Acid
Strategic Insights
Monochloroacetic Acid Market Growth Drivers- Rising Demand from Agrochemicals Industry: The primary driver of the monochloroacetic acid market is its extensive use in the production of herbicides, particularly glyphosate. Glyphosate is one of the most widely used herbicides globally in agricultural practices. MCAA is a key intermediate in the synthesis of glyphosate, which is used to control weeds in various crops, including corn, soybeans, and cotton. The growing demand for herbicides due to increasing agricultural output and the need to maximize crop yields in response to global food demands is driving the demand for monochloroacetic acid.
- Expanding Applications in Pharmaceuticals: Monochloroacetic acid is also used in the pharmaceutical industry for the production of key drugs, including those used to treat conditions such as epilepsy, pain, and muscle spasms. The pharmaceutical industry's growth, particularly in emerging economies, is supporting the demand for MCAA. The increasing prevalence of chronic diseases and the need for effective medications are pushing for more production of this chemical, thereby bolstering the overall market.
- Growth in the Surfactants and Cosmetics Sectors: Monochloroacetic acid is used in the production of surfactants, which are vital in the manufacturing of personal care and cosmetic products. Surfactants are used in shampoos, soaps, detergents, and skin-care formulations. As disposable income rises and consumer interest in personal care products increases, especially in developing economies, the demand for MCAA in this sector is also growing. The expanding beauty and wellness industry is a significant driver of the monochloroacetic acid market.
- Increasing Focus on Sustainable and Green Chemistry: As sustainability becomes a growing concern in global industries, there is increasing pressure to reduce the environmental impact of chemical manufacturing. This has led to a trend toward developing more environmentally friendly production methods for MCAA, including the use of renewable feedstocks and reducing waste in the production process. Green chemistry innovations and more sustainable manufacturing practices are expected to shape the future of the monochloroacetic acid market, as manufacturers aim to meet stricter environmental regulations and consumer demand for sustainable products.
- Technological Advancements in MCAA Production: Technological innovations in the production process of monochloroacetic acid are expected to be a key trend in the coming years. Companies are investing in more efficient, cost-effective, and scalable production methods, including the use of advanced catalysts, more precise reaction controls, and better process optimization. These advancements will help reduce production costs, improve yield, and address environmental challenges associated with traditional manufacturing methods. Moreover, the development of biotechnological methods for MCAA production may emerge as a promising trend, offering more sustainable and efficient production solutions.
- Growing Demand for Biodegradable and Eco-Friendly Chemicals: As the global market shifts toward environmentally conscious products, the demand for biodegradable and eco-friendly chemicals is expected to rise. MCAA plays a role in the development of biodegradable materials, particularly in the production of biodegradable surfactants and plastics. As governments and industries commit to reducing plastic waste and the environmental impact of chemicals, the trend toward sustainable chemical production will likely influence the future demand for MCAA.
- Expanding Agricultural Sector in Emerging Economies: The growth of the agricultural sector in developing regions such as Asia-Pacific, Latin America, and Africa presents a significant opportunity for the monochloroacetic acid market. These regions are increasingly adopting modern farming techniques, including the use of herbicides like glyphosate to improve crop productivity. As agricultural activities expand to meet the growing food demand, the consumption of MCAA as an essential raw material for herbicides will continue to rise, presenting opportunities for market expansion in these emerging economies.
- Diversification into New End-Use Industries: Monochloroacetic acid has applications beyond its current uses in agrochemicals, pharmaceuticals, and surfactants. Industries such as textiles, dyes, and food processing also rely on MCAA for the production of various chemicals and products. As the demand for these products increases, there is an opportunity for MCAA manufacturers to diversify their product offerings and expand into these new end-use markets. Moreover, the development of new MCAA-based products for specialized applications in biotechnology and polymer industries could provide further opportunities for market growth.
- Increasing Adoption in the Production of Biodegradable Plastics: With the growing concern about plastic pollution, the demand for biodegradable plastics is gaining momentum. Monochloroacetic acid is used in the production of biodegradable plastics and biopolymers, such as polyhydroxyalkanoates (PHA), which are considered eco-friendly alternatives to traditional plastics. The rising global focus on sustainability and reducing plastic waste presents an opportunity for the MCAA market to expand as demand for biodegradable plastics continues to grow, particularly in the packaging, automotive, and consumer goods sectors.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Monochloroacetic Acid 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 Monochloroacetic Acid 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
Quality Enhancement is expected to be the key market trends.
Based on geography, Asia Pacific held the largest share of the monochloroacetic acid market.
Based on form, crystalline is expected to witness the fastest growth during the forecast period
Growing Carboxymethyl Cellulose Production is driving the market growth
Akzo Nobel N.V, Archit Organosys Limited, CABB GmbH are some of the key players operating in the monochloroacetic acid market
The Monochloroacetic Acid Market is estimated to witness a CAGR of 6% 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 Monochloroacetic Acid Market - By Product Form
1.3.2 Monochloroacetic Acid Market - By Application
1.3.3 Monochloroacetic Acid Market - By End-Use Industry
1.3.4 Monochloroacetic Acid Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. MONOCHLOROACETIC ACID 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. MONOCHLOROACETIC ACID 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. MONOCHLOROACETIC ACID MARKET - GLOBAL MARKET ANALYSIS
6.1. MONOCHLOROACETIC ACID - GLOBAL MARKET OVERVIEW
6.2. MONOCHLOROACETIC ACID - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. MONOCHLOROACETIC ACID MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT FORM
7.1. OVERVIEW
7.2. PRODUCT FORM MARKET FORECASTS AND ANALYSIS
7.3. CRYSTALLINE
7.3.1. Overview
7.3.2. Crystalline Market Forecast and Analysis
7.4. LIQUID
7.4.1. Overview
7.4.2. Liquid Market Forecast and Analysis
7.5. FLAKES
7.5.1. Overview
7.5.2. Flakes Market Forecast and Analysis
8. MONOCHLOROACETIC ACID MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. CARBOXYMETHYLCELLULOSE (CMC)
8.3.1. Overview
8.3.2. Carboxymethylcellulose (CMC) Market Forecast and Analysis
8.4. AGROCHEMICALS
8.4.1. Overview
8.4.2. Agrochemicals Market Forecast and Analysis
8.5. SURFACTANTS
8.5.1. Overview
8.5.2. Surfactants Market Forecast and Analysis
8.6. THIOGLYCOLIC ACID (TGA)
8.6.1. Overview
8.6.2. Thioglycolic Acid (TGA) Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. MONOCHLOROACETIC ACID MARKET - REVENUE AND FORECASTS TO 2028 - END-USE INDUSTRY
9.1. OVERVIEW
9.2. END-USE INDUSTRY MARKET FORECASTS AND ANALYSIS
9.3. PHARMACEUTICALS
9.3.1. Overview
9.3.2. Pharmaceuticals Market Forecast and Analysis
9.4. CHEMICAL
9.4.1. Overview
9.4.2. Chemical Market Forecast and Analysis
9.5. FOOD AND BEVERAGES
9.5.1. Overview
9.5.2. Food and Beverages Market Forecast and Analysis
9.6. AGRICULTURE
9.6.1. Overview
9.6.2. Agriculture Market Forecast and Analysis
9.7. OTHERS
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis
10. MONOCHLOROACETIC ACID MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Monochloroacetic Acid Market Overview
10.1.2 North America Monochloroacetic Acid Market Forecasts and Analysis
10.1.3 North America Monochloroacetic Acid Market Forecasts and Analysis - By Product Form
10.1.4 North America Monochloroacetic Acid Market Forecasts and Analysis - By Application
10.1.5 North America Monochloroacetic Acid Market Forecasts and Analysis - By End-Use Industry
10.1.6 North America Monochloroacetic Acid Market Forecasts and Analysis - By Countries
10.1.6.1 United States Monochloroacetic Acid Market
10.1.6.1.1 United States Monochloroacetic Acid Market by Product Form
10.1.6.1.2 United States Monochloroacetic Acid Market by Application
10.1.6.1.3 United States Monochloroacetic Acid Market by End-Use Industry
10.1.6.2 Canada Monochloroacetic Acid Market
10.1.6.2.1 Canada Monochloroacetic Acid Market by Product Form
10.1.6.2.2 Canada Monochloroacetic Acid Market by Application
10.1.6.2.3 Canada Monochloroacetic Acid Market by End-Use Industry
10.1.6.3 Mexico Monochloroacetic Acid Market
10.1.6.3.1 Mexico Monochloroacetic Acid Market by Product Form
10.1.6.3.2 Mexico Monochloroacetic Acid Market by Application
10.1.6.3.3 Mexico Monochloroacetic Acid Market by End-Use Industry
10.2. EUROPE
10.2.1 Europe Monochloroacetic Acid Market Overview
10.2.2 Europe Monochloroacetic Acid Market Forecasts and Analysis
10.2.3 Europe Monochloroacetic Acid Market Forecasts and Analysis - By Product Form
10.2.4 Europe Monochloroacetic Acid Market Forecasts and Analysis - By Application
10.2.5 Europe Monochloroacetic Acid Market Forecasts and Analysis - By End-Use Industry
10.2.6 Europe Monochloroacetic Acid Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Monochloroacetic Acid Market
10.2.6.1.1 Germany Monochloroacetic Acid Market by Product Form
10.2.6.1.2 Germany Monochloroacetic Acid Market by Application
10.2.6.1.3 Germany Monochloroacetic Acid Market by End-Use Industry
10.2.6.2 France Monochloroacetic Acid Market
10.2.6.2.1 France Monochloroacetic Acid Market by Product Form
10.2.6.2.2 France Monochloroacetic Acid Market by Application
10.2.6.2.3 France Monochloroacetic Acid Market by End-Use Industry
10.2.6.3 Italy Monochloroacetic Acid Market
10.2.6.3.1 Italy Monochloroacetic Acid Market by Product Form
10.2.6.3.2 Italy Monochloroacetic Acid Market by Application
10.2.6.3.3 Italy Monochloroacetic Acid Market by End-Use Industry
10.2.6.4 United Kingdom Monochloroacetic Acid Market
10.2.6.4.1 United Kingdom Monochloroacetic Acid Market by Product Form
10.2.6.4.2 United Kingdom Monochloroacetic Acid Market by Application
10.2.6.4.3 United Kingdom Monochloroacetic Acid Market by End-Use Industry
10.2.6.5 Russia Monochloroacetic Acid Market
10.2.6.5.1 Russia Monochloroacetic Acid Market by Product Form
10.2.6.5.2 Russia Monochloroacetic Acid Market by Application
10.2.6.5.3 Russia Monochloroacetic Acid Market by End-Use Industry
10.2.6.6 Rest of Europe Monochloroacetic Acid Market
10.2.6.6.1 Rest of Europe Monochloroacetic Acid Market by Product Form
10.2.6.6.2 Rest of Europe Monochloroacetic Acid Market by Application
10.2.6.6.3 Rest of Europe Monochloroacetic Acid Market by End-Use Industry
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Monochloroacetic Acid Market Overview
10.3.2 Asia-Pacific Monochloroacetic Acid Market Forecasts and Analysis
10.3.3 Asia-Pacific Monochloroacetic Acid Market Forecasts and Analysis - By Product Form
10.3.4 Asia-Pacific Monochloroacetic Acid Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Monochloroacetic Acid Market Forecasts and Analysis - By End-Use Industry
10.3.6 Asia-Pacific Monochloroacetic Acid Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Monochloroacetic Acid Market
10.3.6.1.1 Australia Monochloroacetic Acid Market by Product Form
10.3.6.1.2 Australia Monochloroacetic Acid Market by Application
10.3.6.1.3 Australia Monochloroacetic Acid Market by End-Use Industry
10.3.6.2 China Monochloroacetic Acid Market
10.3.6.2.1 China Monochloroacetic Acid Market by Product Form
10.3.6.2.2 China Monochloroacetic Acid Market by Application
10.3.6.2.3 China Monochloroacetic Acid Market by End-Use Industry
10.3.6.3 India Monochloroacetic Acid Market
10.3.6.3.1 India Monochloroacetic Acid Market by Product Form
10.3.6.3.2 India Monochloroacetic Acid Market by Application
10.3.6.3.3 India Monochloroacetic Acid Market by End-Use Industry
10.3.6.4 Japan Monochloroacetic Acid Market
10.3.6.4.1 Japan Monochloroacetic Acid Market by Product Form
10.3.6.4.2 Japan Monochloroacetic Acid Market by Application
10.3.6.4.3 Japan Monochloroacetic Acid Market by End-Use Industry
10.3.6.5 South Korea Monochloroacetic Acid Market
10.3.6.5.1 South Korea Monochloroacetic Acid Market by Product Form
10.3.6.5.2 South Korea Monochloroacetic Acid Market by Application
10.3.6.5.3 South Korea Monochloroacetic Acid Market by End-Use Industry
10.3.6.6 Rest of Asia-Pacific Monochloroacetic Acid Market
10.3.6.6.1 Rest of Asia-Pacific Monochloroacetic Acid Market by Product Form
10.3.6.6.2 Rest of Asia-Pacific Monochloroacetic Acid Market by Application
10.3.6.6.3 Rest of Asia-Pacific Monochloroacetic Acid Market by End-Use Industry
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Monochloroacetic Acid Market Overview
10.4.2 Middle East and Africa Monochloroacetic Acid Market Forecasts and Analysis
10.4.3 Middle East and Africa Monochloroacetic Acid Market Forecasts and Analysis - By Product Form
10.4.4 Middle East and Africa Monochloroacetic Acid Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Monochloroacetic Acid Market Forecasts and Analysis - By End-Use Industry
10.4.6 Middle East and Africa Monochloroacetic Acid Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Monochloroacetic Acid Market
10.4.6.1.1 South Africa Monochloroacetic Acid Market by Product Form
10.4.6.1.2 South Africa Monochloroacetic Acid Market by Application
10.4.6.1.3 South Africa Monochloroacetic Acid Market by End-Use Industry
10.4.6.2 Saudi Arabia Monochloroacetic Acid Market
10.4.6.2.1 Saudi Arabia Monochloroacetic Acid Market by Product Form
10.4.6.2.2 Saudi Arabia Monochloroacetic Acid Market by Application
10.4.6.2.3 Saudi Arabia Monochloroacetic Acid Market by End-Use Industry
10.4.6.3 U.A.E Monochloroacetic Acid Market
10.4.6.3.1 U.A.E Monochloroacetic Acid Market by Product Form
10.4.6.3.2 U.A.E Monochloroacetic Acid Market by Application
10.4.6.3.3 U.A.E Monochloroacetic Acid Market by End-Use Industry
10.4.6.4 Rest of Middle East and Africa Monochloroacetic Acid Market
10.4.6.4.1 Rest of Middle East and Africa Monochloroacetic Acid Market by Product Form
10.4.6.4.2 Rest of Middle East and Africa Monochloroacetic Acid Market by Application
10.4.6.4.3 Rest of Middle East and Africa Monochloroacetic Acid Market by End-Use Industry
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Monochloroacetic Acid Market Overview
10.5.2 South and Central America Monochloroacetic Acid Market Forecasts and Analysis
10.5.3 South and Central America Monochloroacetic Acid Market Forecasts and Analysis - By Product Form
10.5.4 South and Central America Monochloroacetic Acid Market Forecasts and Analysis - By Application
10.5.5 South and Central America Monochloroacetic Acid Market Forecasts and Analysis - By End-Use Industry
10.5.6 South and Central America Monochloroacetic Acid Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Monochloroacetic Acid Market
10.5.6.1.1 Brazil Monochloroacetic Acid Market by Product Form
10.5.6.1.2 Brazil Monochloroacetic Acid Market by Application
10.5.6.1.3 Brazil Monochloroacetic Acid Market by End-Use Industry
10.5.6.2 Argentina Monochloroacetic Acid Market
10.5.6.2.1 Argentina Monochloroacetic Acid Market by Product Form
10.5.6.2.2 Argentina Monochloroacetic Acid Market by Application
10.5.6.2.3 Argentina Monochloroacetic Acid Market by End-Use Industry
10.5.6.3 Rest of South and Central America Monochloroacetic Acid Market
10.5.6.3.1 Rest of South and Central America Monochloroacetic Acid Market by Product Form
10.5.6.3.2 Rest of South and Central America Monochloroacetic Acid Market by Application
10.5.6.3.3 Rest of South and Central America Monochloroacetic Acid 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. MONOCHLOROACETIC ACID MARKET, KEY COMPANY PROFILES
12.1. AKZO NOBEL N.V
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. ARCHIT ORGANOSYS LIMITED
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. CABB GMBH
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. DAICEL CORPORATION
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. DENAK CO., 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. KAIFENG DONGDA CHEMICAL COMPANY
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. MERIDIAN CHEM BOND PVT. LTD.
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. NIACET 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. S R DRUGS AND INTERMEDIATES PRIVATE LIMITED
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. SHANDONG MINJI CHEMICAL
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. Akzo Nobel N.V
2. Archit Organosys Limited
3. CABB GmbH
4. Daicel Corporation
5. Denak Co., Ltd.
6. Kaifeng Dongda Chemical Company
7. Meridian Chem Bond Pvt. Ltd.
8. Niacet Corporation
9. S R Drugs and Intermediates Private Limited
10. Shandong Minji Chemical
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.