The Needle Coke Market is expected to register a CAGR of 4% 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 type (petroleum-based and coal-based) and grade (premium, intermediate and super premium). The report further presents analysis based on application (graphite electrodes, lithium-ion batteries, carbon black and others). The global analysis is further broken-down at regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report Needle Coke 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.
Needle Coke Market Segmentation
Type- Petroleum-Based
- Coal-Based
- Premium
- Intermediate
- Super Premium
Strategic Insights
Needle Coke Market Growth Drivers- Needle Coke Market Growth Driven by Steel Industry Expansion and Urbanization: The needle coke market is driven by the expansion of the steel industry, which is most witnessed in developing countries. Due to investment in infrastructure development, urbanization, and industrialization processes, there has been an increased demand for steel. In steel manufacturing, needle coke is fundamental in making graphite electrodes used in making steel in electric arc furnaces. Therefore, the rising demand for steel should aid the growth of the needle coke market.
- Rising Demand for Needle Coke in Electric Vehicle Batteries: The increasing use of lithium-ion batteries in electric vehicles and consumer electronics will likely influence the needle coke market. These batteries require the production of anodes using needle coke, thus the rise of EV batteries also means a rise in quality needle coke. The shift to renewable energy sources and the stimulation of electric vehicle sales are expected to increase this market segment's responsiveness.
- Increasing Use of Needle Coke in Advanced Materials for Aerospace and Automotive: In recent years, there has been more demand for advanced materials, including high-strength graphite-based materials, in different industries, including aerospace, automotive, and electronics. It is a vital starting material in developing these high-performance graphite composites that exhibit excellent heat and electricity conductivity properties. Therefore as more industries continue advancing and looking for components and materials that raise performance and efficiency, the demand for needle coke will be enhanced.
- Sustainable Needle Coke Production: The most recent research on needle coke production technologies focuses more on production and cost reduction strategies. Most of the manufacturers have already embarked on new processes enhancing the needle coke effluent without causing much harm to the environment. These advances are significant as there is more demand from the various end-user industries, and the methods used must be sustainable.
- Strategic Mergers and Acquisitions: The needle coke market has experienced increased strategic mergers and acquisitions among the industry giants. These affiliations are meant to improve the product offerings and the market coverage and take advantage of each other’s technological facilities. As a result of the partnership, these firms are likely to conserve resources and skills, thus enhancing production and finding new uses for needle coke.
- Sustainability in Needle Coke: In the needle coke market, sustainability has become an issue rather than an aspect of a business due to regulatory requirements and the need for consumer response towards eco-friendly products. Companies are trying to make it more sustainable, for instance, by producing needle coke from renewable feedstock or using clean production technology. Such trends not only address environmental issues but also serve the business interests of the companies in an era when “green chemicals” are becoming prevalent in the global economy.
- Growth Opportunities in Needle Coke through R&D and Innovation: As the demand for high-performance graphite products rises, there is a remarkable chance for needle coke producers. By concentrating on building R & D facilities, companies can develop specialized needle coke grades that can be used for high-temperature furnaces or advanced batteries, for instance. Such innovations are bound to open up new clusters of markets and improvement in profit revenues.
- Developing Regions for Needle Coke Market: Asia-Pacific and Latin America: The Asia-Pacific and Latin America are developing regions for the needle coke market. These continued industrialization and urbanization are coupled with a rise in demand for steel and other high-end materials. The companies can take advantage of this as the region is likely to provide building facilities or other alternatives to production to meet the growing demand.
- Recycling Systems As A Key Strategy for Needle Coke Manufacturers: Needle coke manufacturers can exploit the incorporation of recycling systems within the needle coke-making process to access new markets. Companies can avert waste and cut costs by finding ways to recycle spent graphite electrodes and other materials. This method is practical as it helps with production activities and resource management and ensures that it is eco-friendly, making it a plus to the needle coke market players.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Needle Coke 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 Needle Coke 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.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
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
This text is related
to country scope.
Frequently Asked Questions
Strategic partnerships and collaborations is expected to be the key market trends
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
NIPPON STEEL Chemical and Material Co Ltd; POSCO; Indian Oil Corporation Ltd; Mitsubishi Chemical Corporation are some of the key players operating in the needle coke market
On the basis of geography, the needle coke market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America
Expansion of steel industry is driving the market growth
The Needle Coke Market is estimated to witness a CAGR of 4% 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 Needle Coke Market - By Type
1.3.2 Needle Coke Market - By Grade
1.3.3 Needle Coke Market - By Application
1.3.4 Needle Coke Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. NEEDLE COKE 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. NEEDLE COKE 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. NEEDLE COKE MARKET - GLOBAL MARKET ANALYSIS
6.1. NEEDLE COKE - GLOBAL MARKET OVERVIEW
6.2. NEEDLE COKE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. NEEDLE COKE MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. PETROLEUM-BASED
7.3.1. Overview
7.3.2. Petroleum-Based Market Forecast and Analysis
7.4. COAL-BASED
7.4.1. Overview
7.4.2. Coal-Based Market Forecast and Analysis
8. NEEDLE COKE MARKET - REVENUE AND FORECASTS TO 2028 - GRADE
8.1. OVERVIEW
8.2. GRADE MARKET FORECASTS AND ANALYSIS
8.3. BASE PREMIUM
8.3.1. Overview
8.3.2. Base Premium Market Forecast and Analysis
8.4. INTERMEDIATE PREMIUM
8.4.1. Overview
8.4.2. Intermediate Premium Market Forecast and Analysis
8.5. SUPER PREMIUM
8.5.1. Overview
8.5.2. Super Premium Market Forecast and Analysis
9. NEEDLE COKE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. GRAPHITE ELECTRODES
9.3.1. Overview
9.3.2. Graphite Electrodes Market Forecast and Analysis
9.4. SPECIAL CARBON MATERIALS
9.4.1. Overview
9.4.2. Special Carbon Materials Market Forecast and Analysis
9.5. OTHERS
9.5.1. Overview
9.5.2. Others Market Forecast and Analysis
10. NEEDLE COKE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Needle Coke Market Overview
10.1.2 North America Needle Coke Market Forecasts and Analysis
10.1.3 North America Needle Coke Market Forecasts and Analysis - By Type
10.1.4 North America Needle Coke Market Forecasts and Analysis - By Grade
10.1.5 North America Needle Coke Market Forecasts and Analysis - By Application
10.1.6 North America Needle Coke Market Forecasts and Analysis - By Countries
10.1.6.1 United States Needle Coke Market
10.1.6.1.1 United States Needle Coke Market by Type
10.1.6.1.2 United States Needle Coke Market by Grade
10.1.6.1.3 United States Needle Coke Market by Application
10.1.6.2 Canada Needle Coke Market
10.1.6.2.1 Canada Needle Coke Market by Type
10.1.6.2.2 Canada Needle Coke Market by Grade
10.1.6.2.3 Canada Needle Coke Market by Application
10.1.6.3 Mexico Needle Coke Market
10.1.6.3.1 Mexico Needle Coke Market by Type
10.1.6.3.2 Mexico Needle Coke Market by Grade
10.1.6.3.3 Mexico Needle Coke Market by Application
10.2. EUROPE
10.2.1 Europe Needle Coke Market Overview
10.2.2 Europe Needle Coke Market Forecasts and Analysis
10.2.3 Europe Needle Coke Market Forecasts and Analysis - By Type
10.2.4 Europe Needle Coke Market Forecasts and Analysis - By Grade
10.2.5 Europe Needle Coke Market Forecasts and Analysis - By Application
10.2.6 Europe Needle Coke Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Needle Coke Market
10.2.6.1.1 Germany Needle Coke Market by Type
10.2.6.1.2 Germany Needle Coke Market by Grade
10.2.6.1.3 Germany Needle Coke Market by Application
10.2.6.2 France Needle Coke Market
10.2.6.2.1 France Needle Coke Market by Type
10.2.6.2.2 France Needle Coke Market by Grade
10.2.6.2.3 France Needle Coke Market by Application
10.2.6.3 Italy Needle Coke Market
10.2.6.3.1 Italy Needle Coke Market by Type
10.2.6.3.2 Italy Needle Coke Market by Grade
10.2.6.3.3 Italy Needle Coke Market by Application
10.2.6.4 Spain Needle Coke Market
10.2.6.4.1 Spain Needle Coke Market by Type
10.2.6.4.2 Spain Needle Coke Market by Grade
10.2.6.4.3 Spain Needle Coke Market by Application
10.2.6.5 United Kingdom Needle Coke Market
10.2.6.5.1 United Kingdom Needle Coke Market by Type
10.2.6.5.2 United Kingdom Needle Coke Market by Grade
10.2.6.5.3 United Kingdom Needle Coke Market by Application
10.2.6.6 Russia Needle Coke Market
10.2.6.6.1 Russia Needle Coke Market by Type
10.2.6.6.2 Russia Needle Coke Market by Grade
10.2.6.6.3 Russia Needle Coke Market by Application
10.2.6.7 Rest of Europe Needle Coke Market
10.2.6.7.1 Rest of Europe Needle Coke Market by Type
10.2.6.7.2 Rest of Europe Needle Coke Market by Grade
10.2.6.7.3 Rest of Europe Needle Coke Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Needle Coke Market Overview
10.3.2 Asia-Pacific Needle Coke Market Forecasts and Analysis
10.3.3 Asia-Pacific Needle Coke Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Needle Coke Market Forecasts and Analysis - By Grade
10.3.5 Asia-Pacific Needle Coke Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Needle Coke Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Needle Coke Market
10.3.6.1.1 Australia Needle Coke Market by Type
10.3.6.1.2 Australia Needle Coke Market by Grade
10.3.6.1.3 Australia Needle Coke Market by Application
10.3.6.2 China Needle Coke Market
10.3.6.2.1 China Needle Coke Market by Type
10.3.6.2.2 China Needle Coke Market by Grade
10.3.6.2.3 China Needle Coke Market by Application
10.3.6.3 India Needle Coke Market
10.3.6.3.1 India Needle Coke Market by Type
10.3.6.3.2 India Needle Coke Market by Grade
10.3.6.3.3 India Needle Coke Market by Application
10.3.6.4 Japan Needle Coke Market
10.3.6.4.1 Japan Needle Coke Market by Type
10.3.6.4.2 Japan Needle Coke Market by Grade
10.3.6.4.3 Japan Needle Coke Market by Application
10.3.6.5 South Korea Needle Coke Market
10.3.6.5.1 South Korea Needle Coke Market by Type
10.3.6.5.2 South Korea Needle Coke Market by Grade
10.3.6.5.3 South Korea Needle Coke Market by Application
10.3.6.6 Rest of Asia-Pacific Needle Coke Market
10.3.6.6.1 Rest of Asia-Pacific Needle Coke Market by Type
10.3.6.6.2 Rest of Asia-Pacific Needle Coke Market by Grade
10.3.6.6.3 Rest of Asia-Pacific Needle Coke Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Needle Coke Market Overview
10.4.2 Middle East and Africa Needle Coke Market Forecasts and Analysis
10.4.3 Middle East and Africa Needle Coke Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Needle Coke Market Forecasts and Analysis - By Grade
10.4.5 Middle East and Africa Needle Coke Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Needle Coke Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Needle Coke Market
10.4.6.1.1 South Africa Needle Coke Market by Type
10.4.6.1.2 South Africa Needle Coke Market by Grade
10.4.6.1.3 South Africa Needle Coke Market by Application
10.4.6.2 Saudi Arabia Needle Coke Market
10.4.6.2.1 Saudi Arabia Needle Coke Market by Type
10.4.6.2.2 Saudi Arabia Needle Coke Market by Grade
10.4.6.2.3 Saudi Arabia Needle Coke Market by Application
10.4.6.3 U.A.E Needle Coke Market
10.4.6.3.1 U.A.E Needle Coke Market by Type
10.4.6.3.2 U.A.E Needle Coke Market by Grade
10.4.6.3.3 U.A.E Needle Coke Market by Application
10.4.6.4 Rest of Middle East and Africa Needle Coke Market
10.4.6.4.1 Rest of Middle East and Africa Needle Coke Market by Type
10.4.6.4.2 Rest of Middle East and Africa Needle Coke Market by Grade
10.4.6.4.3 Rest of Middle East and Africa Needle Coke Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Needle Coke Market Overview
10.5.2 South and Central America Needle Coke Market Forecasts and Analysis
10.5.3 South and Central America Needle Coke Market Forecasts and Analysis - By Type
10.5.4 South and Central America Needle Coke Market Forecasts and Analysis - By Grade
10.5.5 South and Central America Needle Coke Market Forecasts and Analysis - By Application
10.5.6 South and Central America Needle Coke Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Needle Coke Market
10.5.6.1.1 Brazil Needle Coke Market by Type
10.5.6.1.2 Brazil Needle Coke Market by Grade
10.5.6.1.3 Brazil Needle Coke Market by Application
10.5.6.2 Argentina Needle Coke Market
10.5.6.2.1 Argentina Needle Coke Market by Type
10.5.6.2.2 Argentina Needle Coke Market by Grade
10.5.6.2.3 Argentina Needle Coke Market by Application
10.5.6.3 Rest of South and Central America Needle Coke Market
10.5.6.3.1 Rest of South and Central America Needle Coke Market by Type
10.5.6.3.2 Rest of South and Central America Needle Coke Market by Grade
10.5.6.3.3 Rest of South and Central America Needle Coke Market by Application
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. NEEDLE COKE MARKET, KEY COMPANY PROFILES
12.1. BAOTAILONG NEW MATERIALS CO., LTD.
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. C-CHEM 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. FANGDA CARBON NEW MATERIAL CO., LTD.
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. INDIAN OIL CORPORATION LTD.
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. MITSUBISHI CHEMICAL 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. PHILLIPS 66
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. GRAFTECH INTERNATIONAL 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. SHANXI HONGTE COAL CHEMICAL INDUSTRY
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. SHIJIAZHUANG DELI CHEMICAL CO., LTD.
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. SUMITOMO 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. Baotailong New Materials Co., Ltd.
2. C-Chem Co., Ltd.
3. Fangda Carbon New Material Co., Ltd.
4. Indian Oil Corporation Ltd.
5. Mitsubishi Chemical Corporation
6. Phillips 66
7. GrafTech International Ltd.
8. Shanxi Hongte Coal Chemical Industry
9. Shijiazhuang Deli Chemical Co., Ltd.
10. Sumitomo 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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