Perchloroethylene Market Research Report 2021-2031
The Perchloroethylene Market is expected to register a CAGR of 3% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The perchloroethylene market report is segmented by grade (isomerization grade, fluorocarbon grade, vapor-degreasing grade, technical grade, and others). The market is segmented based on application (laundry and dry cleaning, metal cleaning and degreasing, isomerization and reforming, and others). 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, segments, regions, and countries. The report covers market trends, as well as market dynamics such as drivers, restraints, and key opportunities. The report also covers industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the market.
Purpose of the ReportThe report Perchloroethylene 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.
Perchloroethylene Market Segmentation
Grade- Isomerization Grade
- Fluorocarbon Grade
- Vapor-Degreasing Grade
- Technical Grade
- Laundry and Dry Cleaning
- Metal Cleaning and Degreasing
- Isomerization and Reforming
Strategic Insights
Perchloroethylene Market Growth Drivers- Perchloroethylene's Dominance in the Dry-Cleaning Industry: Perchloroethylene has long been used by the dry-cleaning industry as a solvent for soils and greases without damaging the fabrics. Although alternative agents for cleaning are gaining wider acceptance, perchloroethylene still remains the most effective and popular solvent in this sector. Urbanization and increasing disposable income are responsible for the rising demand for dry cleaning services around the world; this is particularly true in emerging markets. It is worthy of note that repeated demand from dry cleaning is a prime driver for the perchloroethylene market.
- Perchloroethylene's Role in Automotive and Industrial Cleaning: Perchloroethylene is a dry cleaning solvent that is majorly engaged in automotive and industrial cleaning, especially for degreasing metallic parts and cleaning machinery. With the growing world population and the increase in per capita income levels, the demand for dry cleaning services is expected to increase rapidly, especially in emerging economies. This high demand from the automated industry of PCE continuously drives its demand in the market mostly due to its ability to efficiently remove grease, oils, and other contaminants from components.
- Perchloroethylene's Importance in Chemical Manufacturing and Coatings: Perchloroethylene is widely used as a solvent that is effective in chemical processes. It is primarily used for the making of adhesives, paints, coatings, and varnishes. It has solvent properties and ability to dissolve a number of materials, hence, it is the most crucial ingredient in many chemical formulations. This growing demand for coatings, with increasing applications primarily in construction, electronics, and automobiles, will also continue to present a market for perchloroethylene in this application.
- Increasing Pressure for Green Alternatives to Perchloroethylene: Perchloroethylene is one of the most significant future profiles for the market as regards increasing pressure for green alternatives. PCE is a volatile organic compound (VOC) that is harmful to human beings as well as the environment. Hence, industries are searching for solvents that are more in favor of environmental standards. Adoption of non-toxic and biodegradable alternatives such as liquid CO2 or silicone-based solvents is recently gaining momentum among industries facing stiff competition in replacement from perchloroethylene, particularly in markets with very high environmental standards.
- Regulatory Pressures and Bans on Perchloroethylene Usage: Regulatory pressures and bans expected to get tougher regulations on perchloroethylene environmental ones are developed areas such as Europe or North America. PCE is classified as a carcinogen which exposes it to a variety of health problems, thus allowing governments to regulate its use in some applications. For example, the use of PCE has been restricted in dry cleaning and industrial degreasing under European Union ban. This has led businesses, such as professional cleaning services, to look for solutions compliant with regulations and hence satisfying similar performance. Regulations will also be a significant determinant in factors affecting perchloroethylene future demand.
- Sustainability and Innovation in Perchloroethylene Recycling and Disposal: It has developed as a focus from which industry practices are taking sustainability to expedition. The trend is generally for chemical recycling and for adaptations of circular economy principles towards the chemical uses themselves. Perchloroethylene could bring big leaps in technologies for recycling/ reuse-or more specifically dry cleaning operations. Radical innovations totally reducing waste from PCE and discovering means for used solvent recycling or safe disposal could very well revolutionize the industry. Chemical processing in general may shift toward more sustainable practices that would allow the continued usage of PCE with fewer environmental implications.
- Emerging Market Opportunities for Perchloroethylene in Developing Regions: Most emerging markets in the Asia-Pacific, Latin America, and a few parts of Africa are aggressive growth avenues for perchloroethylene. More industries than ever before in these areas start demanding dry cleaning, automotive, and industrial cleaning services, among others. Urbanization and infrastructure development, coupled with a rise in income levels, are essential to the creation of greater demand for consumer products, with many of these products requiring quality cleaning and coating processes. Widespread use of perchloroethylene in these industries substantiates that considerable opportunity exists in those parts of the developing regions.
- Growing Demand for Safer, Sustainable Alternatives to Perchloroethylene: There is tremendous opportunity for companies to develop safer, more sustainable alternatives to perchloroethylene with the growing demand for green solutions. These cost-effective innovations, bio-based and non-toxic solvents with cleaner technologies can promote the use of chemicals in several sectors that are now primarily reliant on PCE in the manufacture of their products. Companies that are focused on research and development to have cheaper and greener alternatives will have created an entry point for competition into a market that is increasingly concerning itself towards sustainability.
- Continued Demand for Perchloroethylene in the Coatings Industry: The coatings industry is still thriving in automotive and industrial applications. Perchloroethylene is one of the most important solvents for high-performance coatings, used in automotive finishes, such specialized industrial machines, and consumer electronics. With the increasing demand for durable and high-quality coatings-in quicker-developing economies-the need for effective solvents such as perchloroethylene remains strong. Thus, this is a very viable business opportunity that manufacturers should seize by targeting the growing coatings market where PCE will very likely continue to play a key role toward reaching the desired properties of such coatings.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Perchloroethylene 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 Perchloroethylene 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
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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
Shift towards environmentally-friendly alternatives are expected to be the key market trends.
High demand in dry cleaning industry are driving the market growth.
Alfa Aesar, Banner Chemicals Group, Occidental Chemical Corporation, PPG Industries, SRF Ltd, The Dow Chemical Company, AGC Inc, Westlake Chemical Corporation, Olin Corporation, and TOAGOSEI CO LTD are the key players operating in the perchloroethylene market.
Based on application, the laundry and dry cleaning segment is expected to witness the fastest growth during the forecast period.
Based on geography, Asia Pacific held the largest share of the perchloroethylene market due to the strong growth of the laundry and dry cleaning sector in the region.
The Perchloroethylene Market is estimated to witness a CAGR of 3% 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 Perchloroethylene Market - By Grade
1.3.2 Perchloroethylene Market - By Application
1.3.3 Perchloroethylene Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. PERCHLOROETHYLENE 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. PERCHLOROETHYLENE 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. PERCHLOROETHYLENE MARKET - GLOBAL MARKET ANALYSIS
6.1. PERCHLOROETHYLENE - GLOBAL MARKET OVERVIEW
6.2. PERCHLOROETHYLENE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. PERCHLOROETHYLENE MARKET - REVENUE AND FORECASTS TO 2028 - GRADE
7.1. OVERVIEW
7.2. GRADE MARKET FORECASTS AND ANALYSIS
7.3. DEGREASING AND GENERAL PURPOSE GRADE
7.3.1. Overview
7.3.2. Degreasing and General Purpose Grade Market Forecast and Analysis
7.4. FLUOROCARBON GRADE
7.4.1. Overview
7.4.2. Fluorocarbon Grade Market Forecast and Analysis
7.5. DRY CLEANING GRADE
7.5.1. Overview
7.5.2. Dry Cleaning Grade Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. PERCHLOROETHYLENE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. HYDROFLUOROCARBON
8.3.1. Overview
8.3.2. Hydrofluorocarbon Market Forecast and Analysis
8.4. DRY CLEANING
8.4.1. Overview
8.4.2. Dry Cleaning Market Forecast and Analysis
8.5. METAL CLEANING AND DEGREASING
8.5.1. Overview
8.5.2. Metal Cleaning and Degreasing Market Forecast and Analysis
8.6. ISOMERIZATION AND REFORMING
8.6.1. Overview
8.6.2. Isomerization and Reforming Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. PERCHLOROETHYLENE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Perchloroethylene Market Overview
9.1.2 North America Perchloroethylene Market Forecasts and Analysis
9.1.3 North America Perchloroethylene Market Forecasts and Analysis - By Grade
9.1.4 North America Perchloroethylene Market Forecasts and Analysis - By Application
9.1.5 North America Perchloroethylene Market Forecasts and Analysis - By Countries
9.1.5.1 Canada Perchloroethylene Market
9.1.5.1.1 Canada Perchloroethylene Market by Grade
9.1.5.1.2 Canada Perchloroethylene Market by Application
9.1.5.2 Mexico Perchloroethylene Market
9.1.5.2.1 Mexico Perchloroethylene Market by Grade
9.1.5.2.2 Mexico Perchloroethylene Market by Application
9.1.5.3 US Perchloroethylene Market
9.1.5.3.1 US Perchloroethylene Market by Grade
9.1.5.3.2 US Perchloroethylene Market by Application
9.2. EUROPE
9.2.1 Europe Perchloroethylene Market Overview
9.2.2 Europe Perchloroethylene Market Forecasts and Analysis
9.2.3 Europe Perchloroethylene Market Forecasts and Analysis - By Grade
9.2.4 Europe Perchloroethylene Market Forecasts and Analysis - By Application
9.2.5 Europe Perchloroethylene Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Perchloroethylene Market
9.2.5.1.1 Germany Perchloroethylene Market by Grade
9.2.5.1.2 Germany Perchloroethylene Market by Application
9.2.5.2 France Perchloroethylene Market
9.2.5.2.1 France Perchloroethylene Market by Grade
9.2.5.2.2 France Perchloroethylene Market by Application
9.2.5.3 Italy Perchloroethylene Market
9.2.5.3.1 Italy Perchloroethylene Market by Grade
9.2.5.3.2 Italy Perchloroethylene Market by Application
9.2.5.4 United Kingdom Perchloroethylene Market
9.2.5.4.1 United Kingdom Perchloroethylene Market by Grade
9.2.5.4.2 United Kingdom Perchloroethylene Market by Application
9.2.5.5 Russia Perchloroethylene Market
9.2.5.5.1 Russia Perchloroethylene Market by Grade
9.2.5.5.2 Russia Perchloroethylene Market by Application
9.2.5.6 Rest of Europe Perchloroethylene Market
9.2.5.6.1 Rest of Europe Perchloroethylene Market by Grade
9.2.5.6.2 Rest of Europe Perchloroethylene Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Perchloroethylene Market Overview
9.3.2 Asia-Pacific Perchloroethylene Market Forecasts and Analysis
9.3.3 Asia-Pacific Perchloroethylene Market Forecasts and Analysis - By Grade
9.3.4 Asia-Pacific Perchloroethylene Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Perchloroethylene Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Perchloroethylene Market
9.3.5.1.1 Australia Perchloroethylene Market by Grade
9.3.5.1.2 Australia Perchloroethylene Market by Application
9.3.5.2 China Perchloroethylene Market
9.3.5.2.1 China Perchloroethylene Market by Grade
9.3.5.2.2 China Perchloroethylene Market by Application
9.3.5.3 India Perchloroethylene Market
9.3.5.3.1 India Perchloroethylene Market by Grade
9.3.5.3.2 India Perchloroethylene Market by Application
9.3.5.4 Japan Perchloroethylene Market
9.3.5.4.1 Japan Perchloroethylene Market by Grade
9.3.5.4.2 Japan Perchloroethylene Market by Application
9.3.5.5 South Korea Perchloroethylene Market
9.3.5.5.1 South Korea Perchloroethylene Market by Grade
9.3.5.5.2 South Korea Perchloroethylene Market by Application
9.3.5.6 Rest of Asia-Pacific Perchloroethylene Market
9.3.5.6.1 Rest of Asia-Pacific Perchloroethylene Market by Grade
9.3.5.6.2 Rest of Asia-Pacific Perchloroethylene Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Perchloroethylene Market Overview
9.4.2 Middle East and Africa Perchloroethylene Market Forecasts and Analysis
9.4.3 Middle East and Africa Perchloroethylene Market Forecasts and Analysis - By Grade
9.4.4 Middle East and Africa Perchloroethylene Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Perchloroethylene Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Perchloroethylene Market
9.4.5.1.1 South Africa Perchloroethylene Market by Grade
9.4.5.1.2 South Africa Perchloroethylene Market by Application
9.4.5.2 Saudi Arabia Perchloroethylene Market
9.4.5.2.1 Saudi Arabia Perchloroethylene Market by Grade
9.4.5.2.2 Saudi Arabia Perchloroethylene Market by Application
9.4.5.3 U.A.E Perchloroethylene Market
9.4.5.3.1 U.A.E Perchloroethylene Market by Grade
9.4.5.3.2 U.A.E Perchloroethylene Market by Application
9.4.5.4 Rest of Middle East and Africa Perchloroethylene Market
9.4.5.4.1 Rest of Middle East and Africa Perchloroethylene Market by Grade
9.4.5.4.2 Rest of Middle East and Africa Perchloroethylene Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Perchloroethylene Market Overview
9.5.2 South and Central America Perchloroethylene Market Forecasts and Analysis
9.5.3 South and Central America Perchloroethylene Market Forecasts and Analysis - By Grade
9.5.4 South and Central America Perchloroethylene Market Forecasts and Analysis - By Application
9.5.5 South and Central America Perchloroethylene Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Perchloroethylene Market
9.5.5.1.1 Brazil Perchloroethylene Market by Grade
9.5.5.1.2 Brazil Perchloroethylene Market by Application
9.5.5.2 Argentina Perchloroethylene Market
9.5.5.2.1 Argentina Perchloroethylene Market by Grade
9.5.5.2.2 Argentina Perchloroethylene Market by Application
9.5.5.3 Rest of South and Central America Perchloroethylene Market
9.5.5.3.1 Rest of South and Central America Perchloroethylene Market by Grade
9.5.5.3.2 Rest of South and Central America Perchloroethylene 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. PERCHLOROETHYLENE MARKET, KEY COMPANY PROFILES
11.1. ALFA AESAR
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. BANNER CHEMICALS GROUP
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. OCCIDENTAL CHEMICAL CORPORATION
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. PPG INDUSTRIES
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. SRF LTD.
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. THE DOW CHEMICAL COMPANY
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. SOLVAY CHEMICALS
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. WESTLAKE CHEMICAL CORPORATION
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. OLIN 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. TOAGOSEI CO., LTD.
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. Alfa Aesar
2. Banner Chemicals Group
3. Occidental Chemical Corporation
4. PPG Industries
5. SRF Ltd.
6. The Dow Chemical Company
7. Solvay Chemicals
8. Westlake Chemical Corporation
9. Olin Corporation
10. TOAGOSEI CO., LTD.
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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