Persulfates Market Analysis 2021-2031 | Trends and Top Players
The Persulfates Market is expected to register a CAGR of 4% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report presents analysis based on type (ammonium, sodium, and potassium). The report is segmented by application (polymer initiator, oxidation, bleaching, sizing agent, and others). The report is segmented by end-use (polymer, electronics, cosmetic and personal care, paper and pulp, textile, 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 Persulfates 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.
Persulfates Market Segmentation
Type- Ammonium
- Sodium
- Potassium
- Polymer Initiator
- Oxidation
- Bleaching
- Sizing Agent
- Others
- Polymer
- Electronics
- Cosmetic and Personal Care
- Paper and Pulp
- Textile
- Others
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Persulfates Market Growth Drivers- Growth in Electronics Manufacturing: Driving the persulfates market substantially is the rapidly increasing need for electronics manufacturing, especially in PCBs. Persulfates are a strong oxidizing agent indispensable in PCB fabrication, as they are used for etching and cleaning processes. The demand is driven by rapid technological advancement as well as increased consumption of electronics globally.
- Rise in PCB Market Demand: The PCB market is witnessing a sudden rise due to the growth of the electronics industries. Key driving factors include consumer electronics, automotive electronics, and IoT products. To etch these intricate circuit patterns, efficient production of high-quality PCBs requires persulfates, of which ammonium persulfate is an important member.
- Miniaturization of Electronics: Also, further miniaturization of electronics fuels the requirements for high-performance, compact PCBs. Persulfates aid in designing smaller, complex PCBs because of their advanced oxidation properties. As industries go for performance and reliability, persulfates are becoming an inherent part of the electronics manufacturing process, thus adding to market demand.
- Technology as a Key Driver in the Persulfates Market: Technology is the main driver of growth in the persulfates market. Advances in chemical processing, the production of electronics, and many other similar areas have led to a need for more efficient and performance-based use of materials. With strong oxidizing properties, persulfates are necessary to fulfill the emerging requirements of these industries.
- Miniaturization and Circuit Complexity in Electronics: The further advanced technology progresses in miniaturization and circuit complexity in electronics manufacturing, devices get miniaturized for compactness, thus increasing the demand for more precise etching and cleaning processes. Of these used, ammonium persulfate is considered integral within advanced PCB fabrication processes for greater accuracy and reliability in electronic components.
- Environmental Sustainability Driving Persulfate Development: Increased development in environmental sustainability further drives development for the production of persulfate. Development into more ecologically friendly formulations for persulfates and their manufacture is taking off as industries look for greener options. Innovation in its use reduces the strain that such industrial applications may have on the environment whilst still exhibiting high performance, consistent with overall goals of global sustainability.
- Growth Opportunities in Green Technologies: New applications in green technologies are some of the major growth opportunities for the persulfate market. As more and more industries aim to become sustainable and offer green practices, the use of persulfates in multiple forms of green technology is being encouraged because of its strong oxidizing properties. Persulfates have major applications in numerous eco-friendly chemical processes including some wastewater treatment and renewable energy production.
- Persulfates in Wastewater Treatment: Persulfates are advanced oxidation agents in the wastewater treatment process that break down pollutants. The efficiency of degrading organic contaminants without creating harmful byproducts has made persulfates a viable solution for very demanding environmental regulations. As governments and businesses improve cleanliness in water practices, it will probably become one of the most in-demand items in the sector.
- Role of Persulfates in Cleaner Energy Technologies: Another application of persulfates is in cleaner energy technologies. For instance, in solar energy production, persulfates are used to clean and prepare the surfaces of photovoltaic applications so that they become highly efficient in energy production. With renewable energy supplies becoming more reliable, persulfates will play a crucial role in making green technologies viable and sustainable in general.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Persulfates 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 Persulfates 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
The Persulfates Market is estimated to witness a CAGR of 4% from 2023 to 2031
The growing demand for electronics manufacturing, especially in the production of printed circuit boards (PCBs) is driving the market growth.
Evonik; United Initiators; MITSUBISHI GAS CHEMICAL COMPANY, INC.; AKK?M; ADEKA CORPORATION; LANXESS; ABC Chemicals(Shanghai)Co., Ltd.; VR Persulfates Pvt. Ltd; Stars Chemical (YongAn) Co., Ltd.; and POWDER PACK CHEM are some of the key players operating in the persulfates market
Based on type, the ammonium segment is expected to witness the fastest growth during the forecast period
Based on geography, Asia Pacific held the largest share of the persulfates market due to its thriving manufacturing industries, particularly in electronics, chemicals, and textiles, which are major consumers of persulfates. Countries such as China, Japan, and India lead the market due to their large-scale production and consumption of printed circuit boards (PCBs), where persulfates are crucial for etching and cleaning processes.
Technological advancements are expected to be the key market trends.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Persulfates Market - By Type
1.3.2 Persulfates Market - By Application
1.3.3 Persulfates Market - By End-Use Industry
1.3.4 Persulfates Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. PERSULFATES 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. PERSULFATES 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. PERSULFATES MARKET - GLOBAL MARKET ANALYSIS
6.1. PERSULFATES - GLOBAL MARKET OVERVIEW
6.2. PERSULFATES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. PERSULFATES MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. POTASSIUM PERSULFATE
7.3.1. Overview
7.3.2. Potassium Persulfate Market Forecast and Analysis
7.4. AMMONIUM PERSULFATE
7.4.1. Overview
7.4.2. Ammonium Persulfate Market Forecast and Analysis
7.5. SODIUM PERSULFATE
7.5.1. Overview
7.5.2. Sodium Persulfate Market Forecast and Analysis
7.6. MAGNESIUM PERSULFATE
7.6.1. Overview
7.6.2. Magnesium Persulfate Market Forecast and Analysis
8. PERSULFATES MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. ENHANCED OIL RECOVERY
8.3.1. Overview
8.3.2. Enhanced Oil Recovery Market Forecast and Analysis
8.4. LATEX POLYMERS
8.4.1. Overview
8.4.2. Latex Polymers Market Forecast and Analysis
8.5. ETCHANT
8.5.1. Overview
8.5.2. Etchant Market Forecast and Analysis
8.6. HAIR DYE
8.6.1. Overview
8.6.2. Hair Dye Market Forecast and Analysis
8.7. CURING AGENT
8.7.1. Overview
8.7.2. Curing Agent Market Forecast and Analysis
8.8. OXIDISING AGENT
8.8.1. Overview
8.8.2. Oxidising Agent Market Forecast and Analysis
8.9. OTHERS
8.9.1. Overview
8.9.2. Others Market Forecast and Analysis
9. PERSULFATES MARKET - REVENUE AND FORECASTS TO 2028 - END-USE INDUSTRY
9.1. OVERVIEW
9.2. END-USE INDUSTRY MARKET FORECASTS AND ANALYSIS
9.3. POLYMERS
9.3.1. Overview
9.3.2. Polymers Market Forecast and Analysis
9.4. ELECTRONICS
9.4.1. Overview
9.4.2. Electronics Market Forecast and Analysis
9.5. COSMETICS AND PERSONAL CARE
9.5.1. Overview
9.5.2. Cosmetics and Personal Care Market Forecast and Analysis
9.6. PULP, PAPER AND TEXTILES
9.6.1. Overview
9.6.2. Pulp, Paper and Textiles Market Forecast and Analysis
9.7. WATER TREATMENT
9.7.1. Overview
9.7.2. Water Treatment Market Forecast and Analysis
9.8. SOIL REMEDIATION
9.8.1. Overview
9.8.2. Soil Remediation Market Forecast and Analysis
9.9. OIL AND GAS
9.9.1. Overview
9.9.2. Oil and Gas Market Forecast and Analysis
9.10. OTHERS
9.10.1. Overview
9.10.2. Others Market Forecast and Analysis
10. PERSULFATES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Persulfates Market Overview
10.1.2 North America Persulfates Market Forecasts and Analysis
10.1.3 North America Persulfates Market Forecasts and Analysis - By Type
10.1.4 North America Persulfates Market Forecasts and Analysis - By Application
10.1.5 North America Persulfates Market Forecasts and Analysis - By End-Use Industry
10.1.6 North America Persulfates Market Forecasts and Analysis - By Countries
10.1.6.1 United States Persulfates Market
10.1.6.1.1 United States Persulfates Market by Type
10.1.6.1.2 United States Persulfates Market by Application
10.1.6.1.3 United States Persulfates Market by End-Use Industry
10.1.6.2 Canada Persulfates Market
10.1.6.2.1 Canada Persulfates Market by Type
10.1.6.2.2 Canada Persulfates Market by Application
10.1.6.2.3 Canada Persulfates Market by End-Use Industry
10.1.6.3 Mexico Persulfates Market
10.1.6.3.1 Mexico Persulfates Market by Type
10.1.6.3.2 Mexico Persulfates Market by Application
10.1.6.3.3 Mexico Persulfates Market by End-Use Industry
10.2. EUROPE
10.2.1 Europe Persulfates Market Overview
10.2.2 Europe Persulfates Market Forecasts and Analysis
10.2.3 Europe Persulfates Market Forecasts and Analysis - By Type
10.2.4 Europe Persulfates Market Forecasts and Analysis - By Application
10.2.5 Europe Persulfates Market Forecasts and Analysis - By End-Use Industry
10.2.6 Europe Persulfates Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Persulfates Market
10.2.6.1.1 Germany Persulfates Market by Type
10.2.6.1.2 Germany Persulfates Market by Application
10.2.6.1.3 Germany Persulfates Market by End-Use Industry
10.2.6.2 France Persulfates Market
10.2.6.2.1 France Persulfates Market by Type
10.2.6.2.2 France Persulfates Market by Application
10.2.6.2.3 France Persulfates Market by End-Use Industry
10.2.6.3 Italy Persulfates Market
10.2.6.3.1 Italy Persulfates Market by Type
10.2.6.3.2 Italy Persulfates Market by Application
10.2.6.3.3 Italy Persulfates Market by End-Use Industry
10.2.6.4 United Kingdom Persulfates Market
10.2.6.4.1 United Kingdom Persulfates Market by Type
10.2.6.4.2 United Kingdom Persulfates Market by Application
10.2.6.4.3 United Kingdom Persulfates Market by End-Use Industry
10.2.6.5 Russia Persulfates Market
10.2.6.5.1 Russia Persulfates Market by Type
10.2.6.5.2 Russia Persulfates Market by Application
10.2.6.5.3 Russia Persulfates Market by End-Use Industry
10.2.6.6 Rest of Europe Persulfates Market
10.2.6.6.1 Rest of Europe Persulfates Market by Type
10.2.6.6.2 Rest of Europe Persulfates Market by Application
10.2.6.6.3 Rest of Europe Persulfates Market by End-Use Industry
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Persulfates Market Overview
10.3.2 Asia-Pacific Persulfates Market Forecasts and Analysis
10.3.3 Asia-Pacific Persulfates Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Persulfates Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Persulfates Market Forecasts and Analysis - By End-Use Industry
10.3.6 Asia-Pacific Persulfates Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Persulfates Market
10.3.6.1.1 Australia Persulfates Market by Type
10.3.6.1.2 Australia Persulfates Market by Application
10.3.6.1.3 Australia Persulfates Market by End-Use Industry
10.3.6.2 China Persulfates Market
10.3.6.2.1 China Persulfates Market by Type
10.3.6.2.2 China Persulfates Market by Application
10.3.6.2.3 China Persulfates Market by End-Use Industry
10.3.6.3 India Persulfates Market
10.3.6.3.1 India Persulfates Market by Type
10.3.6.3.2 India Persulfates Market by Application
10.3.6.3.3 India Persulfates Market by End-Use Industry
10.3.6.4 Japan Persulfates Market
10.3.6.4.1 Japan Persulfates Market by Type
10.3.6.4.2 Japan Persulfates Market by Application
10.3.6.4.3 Japan Persulfates Market by End-Use Industry
10.3.6.5 South Korea Persulfates Market
10.3.6.5.1 South Korea Persulfates Market by Type
10.3.6.5.2 South Korea Persulfates Market by Application
10.3.6.5.3 South Korea Persulfates Market by End-Use Industry
10.3.6.6 Rest of Asia-Pacific Persulfates Market
10.3.6.6.1 Rest of Asia-Pacific Persulfates Market by Type
10.3.6.6.2 Rest of Asia-Pacific Persulfates Market by Application
10.3.6.6.3 Rest of Asia-Pacific Persulfates Market by End-Use Industry
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Persulfates Market Overview
10.4.2 Middle East and Africa Persulfates Market Forecasts and Analysis
10.4.3 Middle East and Africa Persulfates Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Persulfates Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Persulfates Market Forecasts and Analysis - By End-Use Industry
10.4.6 Middle East and Africa Persulfates Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Persulfates Market
10.4.6.1.1 South Africa Persulfates Market by Type
10.4.6.1.2 South Africa Persulfates Market by Application
10.4.6.1.3 South Africa Persulfates Market by End-Use Industry
10.4.6.2 Saudi Arabia Persulfates Market
10.4.6.2.1 Saudi Arabia Persulfates Market by Type
10.4.6.2.2 Saudi Arabia Persulfates Market by Application
10.4.6.2.3 Saudi Arabia Persulfates Market by End-Use Industry
10.4.6.3 U.A.E Persulfates Market
10.4.6.3.1 U.A.E Persulfates Market by Type
10.4.6.3.2 U.A.E Persulfates Market by Application
10.4.6.3.3 U.A.E Persulfates Market by End-Use Industry
10.4.6.4 Rest of Middle East and Africa Persulfates Market
10.4.6.4.1 Rest of Middle East and Africa Persulfates Market by Type
10.4.6.4.2 Rest of Middle East and Africa Persulfates Market by Application
10.4.6.4.3 Rest of Middle East and Africa Persulfates Market by End-Use Industry
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Persulfates Market Overview
10.5.2 South and Central America Persulfates Market Forecasts and Analysis
10.5.3 South and Central America Persulfates Market Forecasts and Analysis - By Type
10.5.4 South and Central America Persulfates Market Forecasts and Analysis - By Application
10.5.5 South and Central America Persulfates Market Forecasts and Analysis - By End-Use Industry
10.5.6 South and Central America Persulfates Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Persulfates Market
10.5.6.1.1 Brazil Persulfates Market by Type
10.5.6.1.2 Brazil Persulfates Market by Application
10.5.6.1.3 Brazil Persulfates Market by End-Use Industry
10.5.6.2 Argentina Persulfates Market
10.5.6.2.1 Argentina Persulfates Market by Type
10.5.6.2.2 Argentina Persulfates Market by Application
10.5.6.2.3 Argentina Persulfates Market by End-Use Industry
10.5.6.3 Rest of South and Central America Persulfates Market
10.5.6.3.1 Rest of South and Central America Persulfates Market by Type
10.5.6.3.2 Rest of South and Central America Persulfates Market by Application
10.5.6.3.3 Rest of South and Central America Persulfates Market by End-Use Industry
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. PERSULFATES MARKET, KEY COMPANY PROFILES
12.1. ABC CHEMICALS(SHANGHAI)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. ADEKA CORPORATION
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. AK-KIM KIMYA
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. MITSUBISHI GAS CHEMICAL COMPANY, INC
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. PEROXYCHEM
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. POWDER PACK CHEM
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. STARS CHEMICAL (YONGAN) CO., 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. UNITED INITIATORS, INC.
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. VR PERSULFATES PVT 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. YATAI ELECTROCHEMISTRY CO., LTD.
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. ABC Chemicals(Shanghai)Co., Ltd.
2. Adeka Corporation
3. Ak-Kim Kimya
4. Mitsubishi Gas Chemical Company, Inc
5. PeroxyChem
6. Powder Pack Chem
7. Stars Chemical (YongAn) Co., Ltd.
8. United Initiators, Inc.
9. VR Persulfates Pvt Ltd
10. Yatai Electrochemistry 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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