North America Battery Material Market Market to Grow at a CAGR of 7.7% to reach US$ 9,366.00 million from 2022 to 2028
The North America battery material market is expected to grow from US$ 5,620.44 million in 2021 to US$ 9,366.00 million by 2028; it is expected to grow at a CAGR of 7.7% from 2022 to 2028.
A combination of different materials, including anode, cathode, and electrolyte, is used to make batteries. Different anode material includes lithium, cobalt, lead, carbon, and graphite. Graphite is one of the most commonly used anode material. Natural graphite materials are mined from the ground. Natural graphite is an important industrial mineral which finds applications in electronics and many other fields. Cobalt is a toxic and lustrous mineral. It is found in negatively charged electrode of many lithium ion batteries. Lead is widely used in lead acid batteries. Carbon-based anode materials have been used in commercial li-ion cells due to their electrochemical properties.
In 2021, the US held the largest share of the North America battery material market. The popularity of electric cars and trucks is growing in the US. The rising demand for electric vehicles creates need for batteries. There is also a growing adoption of smart electronic devices. A high demand for computers, TVs, mobile phones, and others propels need for batteries. The government is also offering funding through various initiatives to ensure that the country can produce batteries and materials to increase economic competitiveness. All these factors are driving the battery materials market growth in the US.
Impact of COVID-19 Pandemic on North America Battery Material Market
The COVID-19 pandemic has negatively affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. In 2020, various industries had to slow down their operations due to disruptions in value chains caused by the shutdown of national and international boundaries. The pandemic has negatively affected manufacturing processes due to restrictions imposed by government authorities in various countries. Furthermore, the pandemic disrupted the supply chain of batteries and components. The adverse effect of the pandemic has decreased the demand for battery materials for different applications in North America. However, with the recovery of various industrial activities, the demand for battery materials for different applications is also increasing.
North America Battery Material Market Breakdown – by Region
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Market Insights
Increasing demand for Electric Vehicles to Drive Battery Materials Market during 2021–2028
Electric vehicles (EVs) are a far better choice than internal combustion engine vehicles for maintaining the air pollution level majorly from the industrial and automotive sectors. Hence, EVs are emerging as the preferred clean technology for future mobility. The demand for zero-emission EVs has surged with favorable government rules regarding subsidies, tax rebates, and new car registration. The supportive policy, charging infrastructure, and supply chain localization are among the factors fueling the demand for electric vehicles, which would drive the North America battery materials market growth during the forecast period.
Material Insights
Based on material, the North America battery material market is segmented into anode, cathode, electrolyte, binders, coatings, and others. The cathode segment held the largest share in the market in 2021. Cathode is a positive or oxidizing electrode. It acquires electrons from the external circuit and is reduced during the electrochemical reaction. Different cathode materials include nickel cobalt aluminum (NCA), cobalt-based lithium-ion (LCO), and nickel cobalt manganese (NCM or NMC).
North America Battery Material Market, by Material – 2021 and 2028
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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End User Insight
Based on end user, North America battery material market is segmented into transportation, consumer electronics, and industrial. The transportation segment held the largest market share in 2021. Batteries are used in various vehicles, including power cars, motorcycles, and boats. Li-ion batteries; lead-acid batteries; wet cell batteries; and starting, lighting, and ignition (SLI) batteries are a few of the common car battery types.
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North America Battery Material Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
North America Battery Material Market: Strategic Insights
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BASF SE, CABOT CORPORATION, Targray Technology International Inc., American Elements, NEI Corporation, Asahi Kasei Corporation, Albemarle Corporation, Solvay S.A., Arkema, PPG Industries Inc., Mitsubishi Chemical Corporation, Electra Battery Materials, Ashland Global Holdings Inc., Ube Corporation, and Pyrotex are among the major players operating in the North America battery material market. The market players are constantly focusing on strategies, such as investments in research and development activities and expansion.
Report Spotlights
- Progressive industry trends in the North America battery material market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the North America battery material market from 2020 to 2028
- Estimation of demand for battery materials across North America
- Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trends and outlook as well as factors driving and restraining the growth of the North America battery material market
- Assistance in decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- The North America battery material market size at various nodes
- Detailed overview and segmentation of the market, and the North America battery material industry dynamics
- Size of the battery material market in various regions with promising growth opportunities
North America Battery Material Market
Material
Anode
- Natural Graphite
- Synthetic Graphite
- Others
Cathode
- Lithium Nickel Cobalt Manganese Oxide (NMC)
- Lithium Cobalt Oxide (LCO)
- Lithium Iron Phosphate (LFP)
- Lithium Manganese Oxide (LMO)
- Lithium Nickel Cobalt Aluminium Oxide (NCA) and Others
- Electrolyte
- Binders
- Coatings
- Others
Application
Application
- Primary Batteries
- Secondary Batteries
End User
- Transportation
- Consumer Electronics
- Industrial
Company Profiles
- BASF SE
- CABOT CORPORATION
- Targray Technology International Inc.
- American Elements
- NEI Corporation
- Asahi Kasei Corporation
- Albemarle Corporation
- Solvay S.A.
- Arkema
- PPG Industries Inc.
- Mitsubishi Chemical Corporation
- Electra Battery Materials
- Ashland Global Holdings Inc.
- Ube Corporation
- Pyrotex
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.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Battery Material Market, by Material
1.3.2 North America Battery Material Market, by Application
1.3.3 North America Battery Material Market, by End User
1.3.4 North America Battery Material Market, by Country
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. North America Battery Material Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Threat of New Entrants:
4.2.2 Bargaining Power of Buyers:
4.2.3 Bargaining Power of Suppliers:
4.2.4 Competitive Rivalry:
4.2.5 Threat of Substitutes:
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Manufacturers
4.3.3 Distributors
4.3.4 End-User
4.4 Expert Opinion
5. North America Battery Material Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing demand for Electric Vehicle
5.1.2 Growing demand for Electronic Industry
5.2 Market Restraints
5.2.1 Environmental concern on battery recycling
5.3 Market Opportunities
5.3.1 Rising Focus of Manufactures towards New Product Development
5.4 Future Trends
5.4.1 High demand for Electronic Gadgets
5.5 Impact Analysis
6. North America Battery Material –Market Analysis
6.1 North America Battery Material Market Overview
6.2 North America Battery Material Market –Revenue and Forecast to 2028 (US$ Mn)
6.3 Market Positioning –Regional Market Players
6.4 List of Coating Manufacturers
6.5 List of Cell Assembly Manufacturers
6.6 List of Module Assembly Manufacturers
6.7 List of Pack Assembly Manufacturers
7. Battery Material Market Analysis – By Material
7.1 Overview
7.2 Battery Material Market, By Material (2020 and 2028)
7.3 Anode
7.3.1 Overview
7.3.2 Anode: Battery Material Market – Revenue and Forecast to 2028 (US$ Mn)
7.3.3 Natural Graphite
7.3.3.1 Overview
7.3.3.2 Natural Graphite: Battery Material Market – Revenue and Forecast to 2028 (US$ Mn)
7.3.4 Synthetic Graphite
7.3.4.1 Overview
7.3.4.2 Synthetic Graphite: Battery Material Market – Revenue and Forecast to 2028 (US$ Mn)
7.3.5 Others
7.3.5.1 Overview
7.3.5.2 Others: Battery Material Market – Revenue and Forecast to 2028 (US$ Mn)
7.4 Cathode
7.4.1 Overview
7.4.2 Cathode: Battery Material Market – Revenue and Forecast to 2028 (US$ Mn)
7.4.3 Lithium Nickel Cobalt Manganese Oxide (NMC)
7.4.3.1 Overview
7.4.3.2 Lithium Nickel Cobalt Manganese Oxide (NMC): Battery Material Market – Revenue and Forecast to 2028 (US$ Mn)
7.4.4 Lithium Cobalt Oxide (LCO)
7.4.4.1 Overview
7.4.4.2 Lithium Cobalt Oxide (LCO): Battery Material Market – Revenue and Forecast to 2028 (US$ Mn)
7.4.5 Lithium Iron Phosphate (LFP)
7.4.5.1 Overview
7.4.5.2 Lithium Iron Phosphate (LFP): Battery Material Market – Revenue and Forecast to 2028 (US$ Mn)
7.4.6 Lithium Manganese Oxide (LMO)
7.4.6.1 Overview
7.4.6.2 Lithium Manganese Oxide (LMO): Battery Material Market – Revenue and Forecast to 2028 (US$ Mn)
7.4.7 Lithium Nickel Cobalt Aluminium Oxide (NCA) and Others
7.4.7.1 Overview
7.4.7.2 Lithium Nickel Cobalt Aluminium Oxide (NCA) and Others: Battery Material Market – Revenue and Forecast to 2028 (US$ Mn)
7.5 Electrolyte
7.5.1 Overview
7.5.2 Electrolyte: Battery Material Market – Revenue and Forecast to 2028 (US$ Mn)
7.6 Binders
7.6.1 Overview
7.6.2 Binders: Battery Material Market – Revenue and Forecast to 2028 (US$ Mn)
7.7 Coatings
7.7.1 Overview
7.7.2 Coatings: Battery Material Market – Revenue and Forecast to 2028 (US$ Mn)
7.8 Others
7.8.1 Overview
7.8.2 Others: Battery Material Market – Revenue and Forecast to 2028 (US$ Mn)
8. Battery Material Market Analysis – By Application
8.1 Overview
8.2 Battery Material Market, By Application (2020 and 2028)
8.3 Primary Batteries
8.3.1 Overview
8.3.2 Primary Batteries: Battery Material Market – Revenue and Forecast to 2028 (US$ Mn)
8.4 Secondary Batteries
8.4.1 Overview
8.4.2 Secondary Batteries: Battery Material Market – Revenue and Forecast to 2028 (US$ Mn)
9. Battery Material Market Analysis – By End User
9.1 Overview
9.2 Battery Material Market, By End User (2020 and 2028)
9.3 Transportation
9.3.1 Overview
9.3.2 Transportation: Battery Material Market – Revenue and Forecast to 2028 (US$ Mn)
9.4 Consumer Electronics
9.4.1 Overview
9.4.2 Consumer Electronics: Battery Material Market – Revenue and Forecast to 2028 (US$ Mn)
9.5 Industrial
9.5.1 Overview
9.5.2 Industrial: Battery Material Market – Revenue and Forecast to 2028 (US$ Mn)
10. Battery Material Market – Geographic Analysis
10.1 North America: Battery Material Market
10.1.1 North America: Battery Material Market –Revenue and Forecast to 2028 (US$ Million)
10.1.2 North America: Battery Material Market, by Key Country
10.1.2.1 US: Battery Material Market –Revenue and Forecast to 2028 (US$ Million)
10.1.2.1.1 US: Battery Material Market, by Material
10.1.2.1.2 US: Battery Material Market, by Application
10.1.2.1.3 US: Battery Material Market, by End User
10.1.2.2 Canada: Battery Material Market –Revenue and Forecast to 2028 (US$ Million)
10.1.2.2.1 Canada: Battery Material Market, by Material
10.1.2.2.2 Canada: Battery Material Market, by Application
10.1.2.2.3 Canada: Battery Material Market, by End User
10.1.2.3 Mexico: Battery Material Market –Revenue and Forecast to 2028 (US$ Million)
10.1.2.3.1 Mexico: Battery Material Market, by Material
10.1.2.3.2 Mexico: Battery Material Market, by Application
10.1.2.3.3 Mexico: Battery Material Market, by End User
11. Impact of COVID-19 Pandemic on North America Battery Material Market
11.1 Overview – Impact of COVID-19
11.2 North America: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 Partnership
12.3 Expansion
12.4 Product Launch
12.5 Merger and Acquisitions
12.6 Joint Venture
13. Company Profiles
13.1 CABOT CORPORATION
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Targray Technology International Inc.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 American Elements
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 NEI Corporation
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 BASF SE
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Asahi Kasei Corporation
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Albemarle Corporation
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Solvay S.A.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Arkema
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 PPG Industries Inc.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
13.11 Mitsubishi Chemical Corporation
13.11.1 Key Facts
13.11.2 Business Description
13.11.3 Products and Services
13.11.4 Financial Overview
13.11.5 SWOT Analysis
13.11.6 Key Developments
13.12 Electra Battery Materials
13.12.1 Key Facts
13.12.2 Business Description
13.12.3 Products and Services
13.12.4 Financial Overview
13.12.5 SWOT Analysis
13.12.6 Key Developments
13.13 Ashland Global Holdings Inc.
13.13.1 Key Facts
13.13.2 Business Description
13.13.3 Products and Services
13.13.4 Financial Overview
13.13.5 SWOT Analysis
13.13.6 Key Developments
13.14 Ube Corporation
13.14.1 Key Facts
13.14.2 Business Description
13.14.3 Products and Services
13.14.4 Financial Overview
13.14.5 SWOT Analysis
13.14.6 Key Developments
13.15 Pyrotex
13.15.1 Key Facts
13.15.2 Business Description
13.15.3 Products and Services
13.15.4 Financial Overview
13.15.5 SWOT Analysis
13.15.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Glossary of Terms
LIST OF TABLES
Table 1. North America Battery Material Market –Revenue and Forecast to 2028 (US$ Mn)
Table 2. North America Battery Material Market, by Material – Revenue and Forecast to 2028 (US$ Million)
Table 3. US Battery Material Market, by Material – Revenue and Forecast to 2028 (US$ Million)
Table 4. US Battery Material Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 5. US Battery Material Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada: Battery Material Market, by Material – Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada Battery Material Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 8. Canada Battery Material Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 9. Mexico Battery Material Market, by Material – Revenue and Forecast to 2028 (US$ Million)
Table 10. Mexico Battery Material Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 11. Mexico Battery Material Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 12. Glossary of Terms, North America Battery Materials Market
LIST OF FIGURES
Figure 1. North America Battery Material Market Segmentation
Figure 2. North America Battery Material Market Segmentation – By Country
Figure 3. North America Battery Material Market Overview
Figure 4. North America Battery Material Market, By End User
Figure 5. North America battery material Market, by Geography
Figure 6. North America Battery Material Market, Industry Landscape
Figure 7. Porter's Five Forces Analysis
Figure 8. Ecosystem: North America Battery Material Market
Figure 9. Expert Opinion
Figure 10. North America Battery Material Market Impact Analysis of Drivers and Restraints
Figure 11. Geographic Overview of North America Battery Material Market
Figure 12. North America battery material Market – Revenue and Forecast to 2028 (US$ Mn)
Figure 13. Battery Material Market Revenue Share, By Material (2020 and 2028)
Figure 14. Anode: Battery Material Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 15. Natural Graphite: Battery Material Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 16. Synthetic Graphite: Battery Material Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 17. Others: Battery Material Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 18. Cathode : Battery Material Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 19. Lithium Nickel Cobalt Manganese Oxide (NMC): Battery Material Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 20. Lithium Cobalt Oxide (LCO): Battery Material Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 21. Lithium Iron Phosphate (LFP): Battery Material Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 22. Lithium Manganese Oxide (LMO): Battery Material Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 23. Lithium Nickel Cobalt Aluminium Oxide (NCA) and Others: Battery Material Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 24. Electrolyte: Battery Material Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 25. Binders: Battery Material Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 26. Coatings: Battery Material Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 27. Others: Battery Material Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 28. Battery Material Market Revenue Share, By Application (2020 and 2028)
Figure 29. Primary Batteries: Battery Material Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 30. Secondary Batteries: Battery Material Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 31. Battery Material Market Revenue Share, By End User (2020 and 2028)
Figure 32. Transportation: Battery Material Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 33. Consumer Electronics: Battery Material Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 34. Industrial: Battery Material Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 35. North America: Battery Material Market – Revenue and Forecast to 2028 (US$ Million)
Figure 36. North America: Battery Material Market Revenue Share, by Key Country (2020 and 2028)
Figure 37. US: Battery Material Market –Revenue and Forecast to 2028 (US$ Million)
Figure 38. Canada: Battery Material Market –Revenue and Forecast to 2028 (US$ Million)
Figure 39. Mexico: Battery Material Market –Revenue and Forecast to 2028 (US$ Million)
Figure 40. Impact of COVID-19 Pandemic on Battery Metals Market in North America
- Cabot Corporation
- Targray Technology International Inc.
- American Elements
- Nei Corporation
- BASF SE
- Asahi Kasei Corporation
- Albemarle Corporation
- Solvay S.A.
- Arkema
- PPG Industries Inc.
- Mitsubishi Chemical Corporation
- Electra Battery Materials
- Ashland Corporation
- Pyrotex
- Global Holdings Inc.
- Ube
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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