The Phthalic Anhydride Market is expected to register a CAGR of 3% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The phthalic anhydride market report is segmented by technology (o-xylene catalytic oxidation and naphthalene catalytic oxidation). The market is segmented based on application (phthalate plasticizers, unsaturated polyester resins, alkyd resins, and others). The market is segmented based on end-use industry (automotive, electrical and electronics, paints and coatings, and others). The global analysis is further broken down at the 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, 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 Phthalic Anhydride 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.
Phthalic Anhydride Market Segmentation
Technology- O-Xylene Catalytic Oxidation and Naphthalene Catalytic Oxidation
- Phthalate Plasticizers
- Unsaturated Polyester Resins
- Alkyd Resins
- Others
- Automotive
- Electrical and Electronics
- Paints and Coatings
- Others
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Phthalic Anhydride Market Growth Drivers- Phthalic Anhydride in Plasticizers for Automotive and Building Industries: Phthalic anhydride is one of the most critical raw materials for plasticizers mainly for the provision of flexibility and durability to PVC products. The automotive and building industries are growing incessantly, and hence, they are still in demand for products from PVC, such as flooring, pipes, wiring, and insulation. Lighter and flexible plastic materials developed in automobiles and the ever-increasing infrastructure development construction activities are boosting the requirement for phthalic anhydride-based plasticizers.
- Phthalic Anhydride’s Role in Polyester Resins for Diverse Applications: Polyester resins are another prime growth inducer of the phthalic anhydride market. The market found its applications in varied items such as coatings, laminates, and fiberglass. Sectors like automotive, marine, and construction began demanding strong yet cost-effective and lightweight material, which raised the demand for unsaturated polyester resins (UPR) derived from phthalic anhydride. These resins are increasingly being applied in the production of composite materials due to their strength, durability, and ease of use.
- Phthalic Anhydride in Agricultural Chemicals and Crop Protection: A number of phthalic anhydride-based agricultural chemicals, such as pesticides and insecticides, are formulated. The greater the agriculturally productive earth with a higher earth population, the more up goes the demand for such chemical solutions promising crops free of pests along with better yield values. Alkyd resins and all other formulations that come from phthalic anhydride compounds are crucial in the production of products used in agriculture and this is a driving force for the market growth.
- Rising Demand for Bio-Based Substitutes in Phthalic Anhydride Production: With the rise in environmental sustainability concerns, there is a great demand for bio-based substitutes for the conventional production of phthalic anhydride, which is normally synthesized from petroleum. Science and technology development is directed towards the production of phthalic anhydride from renewable, organic sources like biomass or bio raw materials in order to lessen emissions and other environmental effects. The changing dynamics of the market with respect to this factor are anticipated to revolutionize the sector, given that companies are in need of alternative methods that are less harmful to the environment in view of compliance with the demands from the market and regulators for green consumer products.
- Phthalic Anhydride's Growing Role in the Electric Vehicle Market: One of the notable trends in the phthalic anhydride market is its growing relevance due to the rapid growth of the electric vehicle (EV) market. Phthalic anhydride-derived resins and plasticizers find application in the manufacturing of lightweight materials, electric wires, and coatings that aid in the production of EVs. The ever-increasing calls for greener transport systems by governments and the ever-increasing production of electric cars by manufacturers will most likely translate to materials like phthalic anhydride increasing in demand. There is a shift towards more efficient and long-lasting components in the EV market which presents this market with opportunities for this market.
- Predicted Improvements in Phthalic Anhydride Production Efficiency and Sustainability: Improvement in productivity and lowering in the cost of production of phthalic Anhydride are some of the predictions that will be made over the next decade. The production process is expected to be improved in terms of cost and environmental impact due to innovation in catalytic processes, clean production methods, and enhanced yield optimization. These will reinforce corporate competitiveness against global market competition while helping the firms to scale up production in order to satisfy increasing demand without incurring steep operational costs or harming the surroundings.
- Growth Prospects for Phthalic Anhydride in the Asia Pacific Region: It is anticipated that the phthalic anhydride market will witness significant growth in the Asia Pacific region. Phthalic anhydride recovery seems to be greatly driven by the rapid growth of industrialization, urbanization and infrastructure, primarily in countries like China and India, which demand more in terms of construction materials, automotive parts, and even consumer goods. Therefore, plasticizers and polyester resins, which are based on phthalic anhydride, will witness a rise in consumption levels. In addition, the increasing manufacturing capabilities within the region present concrete developments for the phthalic anhydride manufacturers within the growing market.
- Opportunities for High-Performance and Specialty Phthalic Anhydride Products: Furthermore, the development of high-performance and specialty products based on phthalic anhydride presents another opportunity. Modifications in automotive resin formulation and development of next-generation plasticizers, which include attributes such as improved durability, heat, and environmental resistance, can provide new market sectors such as automotive, aerospace, and electronics with these materials. Such effective performance materials find application in the manufacture of composite materials and their coatings, which are highly in demand in various industries.
- Increasing Consumer Demand for Non-Toxic and Low-Emission Phthalic Anhydride Products: As the framework of regulation becomes more explicit and rigorous, the possibility of coming up with phthalic anhydride products that are safe for use and have lower emissions increases for businesses. In addition, the growing consumer demand for non-toxic products and products with low volatility organic compounds VOCs offers a significant opportunity for producers to shift to the production of less harmful plasticizers and resins containing no toxic ingredients.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Phthalic Anhydride 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 Phthalic Anhydride 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.
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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
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
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to country scope.
Frequently Asked Questions
Shift toward bio-based and sustainable alternatives is expected to be the key market trends.
Based on geography, Asia Pacific held the largest share of the phthalic anhydride market due to the strong growth of the automotive and electronics industry in the region.
Based on end-use industry, the automotive segment is expected to witness the fastest growth during the forecast period.
Growing demand for plasticizers in the automotive and construction industries is driving the market growth.
Exxon Mobil Corporation, Mitsubishi Gas Chemicals Company Inc, NAN YA PLASTICS CORPORATION, I.G. PETROCHEMICALS LTD, Koppers Inc, C-CHEM CO LTD, POLYNT SPA, Thirumalai Chemicals, UPC Technology Corporation, and Stepan Company are the key players operating in the phthalic anhydride market.
The Phthalic Anhydride 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 Phthalic Anhydride Market - By Application
1.3.2 Phthalic Anhydride Market - By End-User Industry
1.3.3 Phthalic Anhydride Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. PHTHALIC ANHYDRIDE 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. PHTHALIC ANHYDRIDE 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. PHTHALIC ANHYDRIDE MARKET - GLOBAL MARKET ANALYSIS
6.1. PHTHALIC ANHYDRIDE - GLOBAL MARKET OVERVIEW
6.2. PHTHALIC ANHYDRIDE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. PHTHALIC ANHYDRIDE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
7.1. OVERVIEW
7.2. APPLICATION MARKET FORECASTS AND ANALYSIS
7.3. PLASTICIZERS
7.3.1. Overview
7.3.2. Plasticizers Market Forecast and Analysis
7.4. ALKYD RESINS
7.4.1. Overview
7.4.2. Alkyd Resins Market Forecast and Analysis
7.5. UNSATURATED POLYESTER RESINS
7.5.1. Overview
7.5.2. Unsaturated Polyester Resins Market Forecast and Analysis
7.6. OTHER APPLICATIONS
7.6.1. Overview
7.6.2. Other Applications Market Forecast and Analysis
8. PHTHALIC ANHYDRIDE MARKET - REVENUE AND FORECASTS TO 2028 - END-USER INDUSTRY
8.1. OVERVIEW
8.2. END-USER INDUSTRY MARKET FORECASTS AND ANALYSIS
8.3. AUTOMOTIVE
8.3.1. Overview
8.3.2. Automotive Market Forecast and Analysis
8.4. ELECTRICAL AND ELECTRONICS
8.4.1. Overview
8.4.2. Electrical and Electronics Market Forecast and Analysis
8.5. PAINTS AND COATINGS
8.5.1. Overview
8.5.2. Paints and Coatings Market Forecast and Analysis
8.6. PLASTICS
8.6.1. Overview
8.6.2. Plastics Market Forecast and Analysis
8.7. OTHER END-USER INDUSTRIES
8.7.1. Overview
8.7.2. Other End-user Industries Market Forecast and Analysis
9. PHTHALIC ANHYDRIDE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Phthalic Anhydride Market Overview
9.1.2 North America Phthalic Anhydride Market Forecasts and Analysis
9.1.3 North America Phthalic Anhydride Market Forecasts and Analysis - By Application
9.1.4 North America Phthalic Anhydride Market Forecasts and Analysis - By End-User Industry
9.1.5 North America Phthalic Anhydride Market Forecasts and Analysis - By Countries
9.1.5.1 Canada Phthalic Anhydride Market
9.1.5.1.1 Canada Phthalic Anhydride Market by Application
9.1.5.1.2 Canada Phthalic Anhydride Market by End-User Industry
9.1.5.2 Mexico Phthalic Anhydride Market
9.1.5.2.1 Mexico Phthalic Anhydride Market by Application
9.1.5.2.2 Mexico Phthalic Anhydride Market by End-User Industry
9.1.5.3 US Phthalic Anhydride Market
9.1.5.3.1 US Phthalic Anhydride Market by Application
9.1.5.3.2 US Phthalic Anhydride Market by End-User Industry
9.2. EUROPE
9.2.1 Europe Phthalic Anhydride Market Overview
9.2.2 Europe Phthalic Anhydride Market Forecasts and Analysis
9.2.3 Europe Phthalic Anhydride Market Forecasts and Analysis - By Application
9.2.4 Europe Phthalic Anhydride Market Forecasts and Analysis - By End-User Industry
9.2.5 Europe Phthalic Anhydride Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Phthalic Anhydride Market
9.2.5.1.1 Germany Phthalic Anhydride Market by Application
9.2.5.1.2 Germany Phthalic Anhydride Market by End-User Industry
9.2.5.2 France Phthalic Anhydride Market
9.2.5.2.1 France Phthalic Anhydride Market by Application
9.2.5.2.2 France Phthalic Anhydride Market by End-User Industry
9.2.5.3 Italy Phthalic Anhydride Market
9.2.5.3.1 Italy Phthalic Anhydride Market by Application
9.2.5.3.2 Italy Phthalic Anhydride Market by End-User Industry
9.2.5.4 United Kingdom Phthalic Anhydride Market
9.2.5.4.1 United Kingdom Phthalic Anhydride Market by Application
9.2.5.4.2 United Kingdom Phthalic Anhydride Market by End-User Industry
9.2.5.5 Russia Phthalic Anhydride Market
9.2.5.5.1 Russia Phthalic Anhydride Market by Application
9.2.5.5.2 Russia Phthalic Anhydride Market by End-User Industry
9.2.5.6 Rest of Europe Phthalic Anhydride Market
9.2.5.6.1 Rest of Europe Phthalic Anhydride Market by Application
9.2.5.6.2 Rest of Europe Phthalic Anhydride Market by End-User Industry
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Phthalic Anhydride Market Overview
9.3.2 Asia-Pacific Phthalic Anhydride Market Forecasts and Analysis
9.3.3 Asia-Pacific Phthalic Anhydride Market Forecasts and Analysis - By Application
9.3.4 Asia-Pacific Phthalic Anhydride Market Forecasts and Analysis - By End-User Industry
9.3.5 Asia-Pacific Phthalic Anhydride Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Phthalic Anhydride Market
9.3.5.1.1 Australia Phthalic Anhydride Market by Application
9.3.5.1.2 Australia Phthalic Anhydride Market by End-User Industry
9.3.5.2 China Phthalic Anhydride Market
9.3.5.2.1 China Phthalic Anhydride Market by Application
9.3.5.2.2 China Phthalic Anhydride Market by End-User Industry
9.3.5.3 India Phthalic Anhydride Market
9.3.5.3.1 India Phthalic Anhydride Market by Application
9.3.5.3.2 India Phthalic Anhydride Market by End-User Industry
9.3.5.4 Japan Phthalic Anhydride Market
9.3.5.4.1 Japan Phthalic Anhydride Market by Application
9.3.5.4.2 Japan Phthalic Anhydride Market by End-User Industry
9.3.5.5 South Korea Phthalic Anhydride Market
9.3.5.5.1 South Korea Phthalic Anhydride Market by Application
9.3.5.5.2 South Korea Phthalic Anhydride Market by End-User Industry
9.3.5.6 Rest of Asia-Pacific Phthalic Anhydride Market
9.3.5.6.1 Rest of Asia-Pacific Phthalic Anhydride Market by Application
9.3.5.6.2 Rest of Asia-Pacific Phthalic Anhydride Market by End-User Industry
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Phthalic Anhydride Market Overview
9.4.2 Middle East and Africa Phthalic Anhydride Market Forecasts and Analysis
9.4.3 Middle East and Africa Phthalic Anhydride Market Forecasts and Analysis - By Application
9.4.4 Middle East and Africa Phthalic Anhydride Market Forecasts and Analysis - By End-User Industry
9.4.5 Middle East and Africa Phthalic Anhydride Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Phthalic Anhydride Market
9.4.5.1.1 South Africa Phthalic Anhydride Market by Application
9.4.5.1.2 South Africa Phthalic Anhydride Market by End-User Industry
9.4.5.2 Saudi Arabia Phthalic Anhydride Market
9.4.5.2.1 Saudi Arabia Phthalic Anhydride Market by Application
9.4.5.2.2 Saudi Arabia Phthalic Anhydride Market by End-User Industry
9.4.5.3 U.A.E Phthalic Anhydride Market
9.4.5.3.1 U.A.E Phthalic Anhydride Market by Application
9.4.5.3.2 U.A.E Phthalic Anhydride Market by End-User Industry
9.4.5.4 Rest of Middle East and Africa Phthalic Anhydride Market
9.4.5.4.1 Rest of Middle East and Africa Phthalic Anhydride Market by Application
9.4.5.4.2 Rest of Middle East and Africa Phthalic Anhydride Market by End-User Industry
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Phthalic Anhydride Market Overview
9.5.2 South and Central America Phthalic Anhydride Market Forecasts and Analysis
9.5.3 South and Central America Phthalic Anhydride Market Forecasts and Analysis - By Application
9.5.4 South and Central America Phthalic Anhydride Market Forecasts and Analysis - By End-User Industry
9.5.5 South and Central America Phthalic Anhydride Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Phthalic Anhydride Market
9.5.5.1.1 Brazil Phthalic Anhydride Market by Application
9.5.5.1.2 Brazil Phthalic Anhydride Market by End-User Industry
9.5.5.2 Argentina Phthalic Anhydride Market
9.5.5.2.1 Argentina Phthalic Anhydride Market by Application
9.5.5.2.2 Argentina Phthalic Anhydride Market by End-User Industry
9.5.5.3 Rest of South and Central America Phthalic Anhydride Market
9.5.5.3.1 Rest of South and Central America Phthalic Anhydride Market by Application
9.5.5.3.2 Rest of South and Central America Phthalic Anhydride Market by End-User Industry
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. PHTHALIC ANHYDRIDE MARKET, KEY COMPANY PROFILES
11.1. AEKYUNG PETROCHEMICAL CO. LTD.
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. BASF CORPORATION
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. EXXON MOBIL 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. I G PETROCHEMICALS LIMITED
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. KOPPERS 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. LANXESS AKTIENGESELLSCHAFT
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. MITSUBISHI GAS CHEMICAL COMPANY INC.
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. NIPPON STEEL AND SUMIKIN CHEMICAL CO. LTD.
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. POLYNT SPA.
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. STEPAN COMPANY
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.Aekyung Petrochemical Co. Ltd.
2.Basf Corporation
3.Exxon Mobil Corporation
4.I G Petrochemicals Limited
5.Koppers Inc.
6.Lanxess Aktiengesellschaft
7.Mitsubishi Gas Chemical Company Inc.
8.Nippon Steel and Sumikin Chemical Co. Ltd.
9.Polynt Spa.
10.Stepan Company
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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