Nonwoven Filter Media Market SWOT Analysis 2021-2031
The Nonwoven Filter Media Market is expected to register a CAGR of 6% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
Nonwoven Filter Media Market covers analysis By Technology (Spunbond, Meltblown, Wetlaid, Needlepunch, Others); Application (Automotive and Transportation, Food and Beverages, Healthcare, Others), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). Nonwoven Filter Media is a porous fabric produced from a random array of fibers and filament. It filters particles or components from a liquid or gas which is being transported through the media. It has huge demand in the water filtration, HVAC, and respiratory protection end-user industries. The product has a longer service life and shows increased efficiency, making it an excellent material for filtration.
Purpose of the ReportThe report Nonwoven Filter Media 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.
Nonwoven Filter Media Market Segmentation
Technology- Spunbond
- Meltblown
- Wetlaid
- Needlepunch
- Automotive and Transportation
- Food and Beverages
- Healthcare
Strategic Insights
Nonwoven Filter Media Market Growth Drivers- Increasing Demand for Air and Water Filtration: The rising need for clean air and water across industries and households is a primary driver for the nonwoven filter media market. As industrialization and urbanization grow, there is a higher demand for effective filtration solutions to reduce air pollution and ensure access to clean water. Nonwoven filter media, due to their superior filtration efficiency, are increasingly used in air and water filtration systems in various sectors like automotive, HVAC, and municipal water treatment, fueling market growth.
- Stringent Environmental Regulations and Standards: Governments and regulatory bodies around the world are implementing stricter environmental regulations aimed at reducing pollutants and improving air and water quality. Nonwoven filter media offer a highly effective solution in meeting these standards for industrial and consumer filtration systems. The rising focus on improving environmental sustainability and reducing harmful emissions across various sectors is driving the demand for high-quality nonwoven filter media for air, liquid, and gas filtration applications.
- Advancements in Industrial Applications: Nonwoven filter media are increasingly used across a variety of industries, including automotive, pharmaceuticals, food and beverage, and chemical manufacturing. These industries require efficient filtration solutions to maintain product quality, safeguard production processes, and comply with health and safety standards. Nonwoven fabrics' durability, lightweight nature, and ability to trap finer particles make them ideal for use in industrial filtration applications, driving demand in this segment.
- Growing Preference for Sustainable and Eco-friendly Materials: There is a significant trend toward using environmentally friendly and sustainable materials in the filtration industry. Nonwoven filter media made from natural fibers, biodegradable materials, and recyclable components are becoming increasingly popular. Consumers and industries are becoming more aware of the environmental impact of their choices, leading to greater adoption of eco-friendly filter media solutions that align with global sustainability goals.
- Innovation in Nonwoven Filter Media Technology: Recent advancements in nonwoven fabric technology are improving the efficiency, performance, and cost-effectiveness of filter media. Innovations in fiber bonding techniques, nanofiber technologies, and electrospun filtration materials have enhanced the filtration capabilities of nonwoven filter media, making them more efficient in capturing fine particulate matter, bacteria, and viruses. This trend has led to the development of next-generation filter media that offer enhanced filtration properties for a wide range of applications.
- Rising Demand for High-Efficiency Filters in Automotive and Industrial Applications: With increasing emissions regulations and a growing focus on reducing pollutants in the automotive and industrial sectors, the demand for high-efficiency filters is growing. Nonwoven filter media are increasingly being used in automotive air filters, cabin air filters, and industrial filtration systems due to their high particle retention and improved filtration performance. This trend is fueling the adoption of nonwoven filter media in various automotive and industrial applications, including heavy-duty machinery and air purification systems.
- Expansion in Emerging Markets: Emerging economies in Asia-Pacific, Latin America, and Africa are experiencing rapid industrialization, urbanization, and population growth, leading to a surge in the demand for air and water filtration systems. Nonwoven filter media manufacturers have significant opportunities to expand their presence in these regions by offering high-performance filtration solutions. As industrial processes, consumer demand for clean water, and environmental regulations evolve, there is substantial growth potential for nonwoven filter media manufacturers in these markets.
- Growth of the Healthcare and Pharmaceutical Industry: The healthcare and pharmaceutical sectors offer lucrative opportunities for nonwoven filter media. Filtration is critical in pharmaceutical manufacturing processes to prevent contamination and maintain product integrity. Nonwoven filter media are also used in medical applications, such as face masks, air sterilization, and laboratory filtration. As global healthcare spending rises, the demand for nonwoven filter media in these applications is expected to increase, creating growth opportunities for manufacturers.
- Technological Advancements in Specialized Filtration Media: There is a growing opportunity for nonwoven filter media manufacturers to develop specialized filters for specific applications such as air purification, liquid filtration, and industrial exhaust systems. The development of advanced nonwoven filters that offer superior filtration performance, such as those designed for the capture of fine particulates or hazardous gases, represents an emerging opportunity. Customization of filter media to meet the needs of industries such as food processing, oil and gas, and water treatment can drive the next wave of growth in the market.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Nonwoven Filter Media 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 Nonwoven Filter Media 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
Have a question?
Shejal
Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- 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
Integration in healthcare applications is an emerging trend in the market.
The spun-bond technology segment accounted for the largest market share in 2023
The North America market is expected to account for the highest CAGR during the forecast period, owing to the growing automotive industry in the region.
Growing demand for industrial filteration is a key driver in the market.
3M, DuPont, Ahlstrom, BASF SE, Berry Global Inc., Cerex Advanced Fabrics, Inc., Glatfelter Corporation, DelStar Technologies, Inc., Kimberly-Clark Corporation, and PFNonwovens Holding s.r.o. are some of the key players in the market.
The Nonwoven Filter Media 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 Nonwoven Filter Media Market - By Technology
1.3.2 Nonwoven Filter Media Market - By Application
1.3.3 Nonwoven Filter Media Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. NONWOVEN FILTER MEDIA 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. NONWOVEN FILTER MEDIA 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. NONWOVEN FILTER MEDIA MARKET - GLOBAL MARKET ANALYSIS
6.1. NONWOVEN FILTER MEDIA - GLOBAL MARKET OVERVIEW
6.2. NONWOVEN FILTER MEDIA - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. NONWOVEN FILTER MEDIA MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
7.1. OVERVIEW
7.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
7.3. SPUNBOND
7.3.1. Overview
7.3.2. Spunbond Market Forecast and Analysis
7.4. MELTBLOWN
7.4.1. Overview
7.4.2. Meltblown Market Forecast and Analysis
7.5. WETLAID
7.5.1. Overview
7.5.2. Wetlaid Market Forecast and Analysis
7.6. NEEDLEPUNCH
7.6.1. Overview
7.6.2. Needlepunch Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. NONWOVEN FILTER MEDIA MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. AUTOMOTIVE AND TRANSPORTATION
8.3.1. Overview
8.3.2. Automotive and Transportation Market Forecast and Analysis
8.4. FOOD AND BEVERAGES
8.4.1. Overview
8.4.2. Food and Beverages Market Forecast and Analysis
8.5. HEALTHCARE
8.5.1. Overview
8.5.2. Healthcare Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. NONWOVEN FILTER MEDIA MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Nonwoven Filter Media Market Overview
9.1.2 North America Nonwoven Filter Media Market Forecasts and Analysis
9.1.3 North America Nonwoven Filter Media Market Forecasts and Analysis - By Technology
9.1.4 North America Nonwoven Filter Media Market Forecasts and Analysis - By Application
9.1.5 North America Nonwoven Filter Media Market Forecasts and Analysis - By Countries
9.1.5.1 United States Nonwoven Filter Media Market
9.1.5.1.1 United States Nonwoven Filter Media Market by Technology
9.1.5.1.2 United States Nonwoven Filter Media Market by Application
9.1.5.2 Canada Nonwoven Filter Media Market
9.1.5.2.1 Canada Nonwoven Filter Media Market by Technology
9.1.5.2.2 Canada Nonwoven Filter Media Market by Application
9.1.5.3 Mexico Nonwoven Filter Media Market
9.1.5.3.1 Mexico Nonwoven Filter Media Market by Technology
9.1.5.3.2 Mexico Nonwoven Filter Media Market by Application
9.2. EUROPE
9.2.1 Europe Nonwoven Filter Media Market Overview
9.2.2 Europe Nonwoven Filter Media Market Forecasts and Analysis
9.2.3 Europe Nonwoven Filter Media Market Forecasts and Analysis - By Technology
9.2.4 Europe Nonwoven Filter Media Market Forecasts and Analysis - By Application
9.2.5 Europe Nonwoven Filter Media Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Nonwoven Filter Media Market
9.2.5.1.1 Germany Nonwoven Filter Media Market by Technology
9.2.5.1.2 Germany Nonwoven Filter Media Market by Application
9.2.5.2 France Nonwoven Filter Media Market
9.2.5.2.1 France Nonwoven Filter Media Market by Technology
9.2.5.2.2 France Nonwoven Filter Media Market by Application
9.2.5.3 Italy Nonwoven Filter Media Market
9.2.5.3.1 Italy Nonwoven Filter Media Market by Technology
9.2.5.3.2 Italy Nonwoven Filter Media Market by Application
9.2.5.4 United Kingdom Nonwoven Filter Media Market
9.2.5.4.1 United Kingdom Nonwoven Filter Media Market by Technology
9.2.5.4.2 United Kingdom Nonwoven Filter Media Market by Application
9.2.5.5 Russia Nonwoven Filter Media Market
9.2.5.5.1 Russia Nonwoven Filter Media Market by Technology
9.2.5.5.2 Russia Nonwoven Filter Media Market by Application
9.2.5.6 Rest of Europe Nonwoven Filter Media Market
9.2.5.6.1 Rest of Europe Nonwoven Filter Media Market by Technology
9.2.5.6.2 Rest of Europe Nonwoven Filter Media Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Nonwoven Filter Media Market Overview
9.3.2 Asia-Pacific Nonwoven Filter Media Market Forecasts and Analysis
9.3.3 Asia-Pacific Nonwoven Filter Media Market Forecasts and Analysis - By Technology
9.3.4 Asia-Pacific Nonwoven Filter Media Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Nonwoven Filter Media Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Nonwoven Filter Media Market
9.3.5.1.1 Australia Nonwoven Filter Media Market by Technology
9.3.5.1.2 Australia Nonwoven Filter Media Market by Application
9.3.5.2 China Nonwoven Filter Media Market
9.3.5.2.1 China Nonwoven Filter Media Market by Technology
9.3.5.2.2 China Nonwoven Filter Media Market by Application
9.3.5.3 India Nonwoven Filter Media Market
9.3.5.3.1 India Nonwoven Filter Media Market by Technology
9.3.5.3.2 India Nonwoven Filter Media Market by Application
9.3.5.4 Japan Nonwoven Filter Media Market
9.3.5.4.1 Japan Nonwoven Filter Media Market by Technology
9.3.5.4.2 Japan Nonwoven Filter Media Market by Application
9.3.5.5 South Korea Nonwoven Filter Media Market
9.3.5.5.1 South Korea Nonwoven Filter Media Market by Technology
9.3.5.5.2 South Korea Nonwoven Filter Media Market by Application
9.3.5.6 Rest of Asia-Pacific Nonwoven Filter Media Market
9.3.5.6.1 Rest of Asia-Pacific Nonwoven Filter Media Market by Technology
9.3.5.6.2 Rest of Asia-Pacific Nonwoven Filter Media Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Nonwoven Filter Media Market Overview
9.4.2 Middle East and Africa Nonwoven Filter Media Market Forecasts and Analysis
9.4.3 Middle East and Africa Nonwoven Filter Media Market Forecasts and Analysis - By Technology
9.4.4 Middle East and Africa Nonwoven Filter Media Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Nonwoven Filter Media Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Nonwoven Filter Media Market
9.4.5.1.1 South Africa Nonwoven Filter Media Market by Technology
9.4.5.1.2 South Africa Nonwoven Filter Media Market by Application
9.4.5.2 Saudi Arabia Nonwoven Filter Media Market
9.4.5.2.1 Saudi Arabia Nonwoven Filter Media Market by Technology
9.4.5.2.2 Saudi Arabia Nonwoven Filter Media Market by Application
9.4.5.3 U.A.E Nonwoven Filter Media Market
9.4.5.3.1 U.A.E Nonwoven Filter Media Market by Technology
9.4.5.3.2 U.A.E Nonwoven Filter Media Market by Application
9.4.5.4 Rest of Middle East and Africa Nonwoven Filter Media Market
9.4.5.4.1 Rest of Middle East and Africa Nonwoven Filter Media Market by Technology
9.4.5.4.2 Rest of Middle East and Africa Nonwoven Filter Media Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Nonwoven Filter Media Market Overview
9.5.2 South and Central America Nonwoven Filter Media Market Forecasts and Analysis
9.5.3 South and Central America Nonwoven Filter Media Market Forecasts and Analysis - By Technology
9.5.4 South and Central America Nonwoven Filter Media Market Forecasts and Analysis - By Application
9.5.5 South and Central America Nonwoven Filter Media Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Nonwoven Filter Media Market
9.5.5.1.1 Brazil Nonwoven Filter Media Market by Technology
9.5.5.1.2 Brazil Nonwoven Filter Media Market by Application
9.5.5.2 Argentina Nonwoven Filter Media Market
9.5.5.2.1 Argentina Nonwoven Filter Media Market by Technology
9.5.5.2.2 Argentina Nonwoven Filter Media Market by Application
9.5.5.3 Rest of South and Central America Nonwoven Filter Media Market
9.5.5.3.1 Rest of South and Central America Nonwoven Filter Media Market by Technology
9.5.5.3.2 Rest of South and Central America Nonwoven Filter Media 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. NONWOVEN FILTER MEDIA MARKET, KEY COMPANY PROFILES
11.1. 3M
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. DUPONT
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. AHLSTROM-MUNKSJO OYJ
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. BASF SE
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. BERRY GLOBAL GROUP, 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. CEREX ADVANCED FABRICS, INC
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. GLATFELTER COMPANY
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. DELSTAR TECHNOLOGIES INC.
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. KIMBERLY-CLARK CORPORATION
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. PEGAS NONWOVENS S.A
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
1. 3M
2. DuPont
3. Ahlstrom-Munksjo Oyj
4. BASF SE
5. Berry Global Group, Inc.
6. Cerex Advanced Fabrics, Inc
7. Glatfelter Company
8. Delstar Technologies Inc.
9. Kimberly-Clark Corporation
10. Pegas Nonwovens S.A
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.
Get Free Sample For