Pipe Coatings Market Trends, Size and Forecast (2021-2031)
The Pipe Coatings Market is expected to register a CAGR of 5% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
Pipe Coatings Market covers analysis by Surface (Internal Surface Coatings, External Surface Coatings); Form (Powder, Liquid); Type (Thermoplastic Polymer Coatings, Fusion Bonded Epoxy (FBE) Coatings, Concrete Coatings, Others); End-Use Industry (Oil and Gas Industry, Water and Wastewater Treatment, Chemical Processing, Others), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). The pipe coatings are applied to the exterior and interior surfaces of pipes and can be made from various materials, including polyethylene, fusion-bonded epoxy, and ceramic.
Purpose of the ReportThe report Pipe Coatings 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.
Pipe Coatings Market Segmentation
Surface- Internal Surface Coatings
- External Surface Coatings
- Powder
- Liquid
- Thermoplastic Polymer Coatings
- Fusion Bonded Epoxy Coatings
- Concrete Coatings
- 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
Pipe Coatings Market Growth Drivers- Infrastructure Development: Global rapid urbanization and construction projects are creating further demands for durable, anti-corrosive pipe coverings. With most countries allocating budgets toward transportation, water, and energy infrastructural investments, the end result would require long-lasting pipelines, thereby strengthening the market for advanced coating technologies.
- Rising Energy Demand: An increase in demand for specific types of coatings is attributed to oil and gas sector's demand for pipeline integrity and corrosion. Much energy exploration is done in increasingly hostile environments, with deep-sea drilling and offshore wells featuring prominently. This usually requires high-end protection coatings that provide long life expectancy and a practical solution in pipeline operations.
- Environmental Regulations: Governments are tightening regulations on corrosion prevention to mitigate environmental hazards. Therefore, it is not surprising that increasingly stringent environmental requirements have accelerated the adoption of high-performance coatings, especially in oil and gas industries in terms of environmental protection and compliance.
- Smart Coatings: Indeed, the future will have more intelligent coatings, ones that will have embedded sensors for monitoring pipeline conditions. These sensors act like pain sensors: they will help in monitoring corrosion and leak detection as well as finding the stress points within the pipelines and will relay the data in real time, leading to proactive maintenance, which enhances pipeline safety and efficiency.
- Focus on Sustainability: with the rising environmental concerns, more quite coatings are turning eco-friendly, atmosphere-friendly coatings. Biodegradable, non-toxic and low-VOC Coatings are, therefore, gaining acceptance towards complying with stricter environmental regulations and consumer demand for greener, environmentally sustainable solutions for pipelines.
- 3D Printing for Coatings: Future promises include a commercial scope for custom applications in coatings with 3D printing technology, which may promise a reduction of waste and more efficient alternatives for pipeline protection. This high-sensitivity series of advances in areas is expected to yield different, more specific coatings, assisting in quite a personalized arrangement to the needs.
- Emerging Markets: The rising industrialization in the developing economies is of great assistance to pipe coating suppliers. Countries in the regions of Asia Pacific, Africa and Latin America are doing major investments in infrastructures, with a requisite demand for durable and cheaper coating solutions in oil, gas, water, and sewer pipelines.
- Renewable Energy Sector: Emerging with a new crop of potential pipe coatings are advancements in renewable energy infrastructure, including geothermal and offshore wind energy. Specialized coatings are being increasingly applied for underwater or for high-temperature conditions, thus creating new spaces for innovative protective coatings in the near future.
- Replacement or Upgrade of Existing Infrastructure: Developing economies are now reaching a point where aging infrastructure-cum-developing countries are becoming devastated. Therefore pipelines can be removed and replaced or modernized into more advanced coatings. This is likely to be a convenient and profitable market for those companies specializing in maintenance and retrofitting solutions for water, gas, and oil pipelines.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Pipe Coatings 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 Pipe Coatings 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
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
The Pipe Coatings Market is estimated to witness a CAGR of 5% from 2023 to 2031
Growing infrastructure development is a key driver in the market.
Arabian Pipe Coating Compan, Arkema Group, 3M Company, Akzo Nobel N.V, Axalta Coating Systems, PPG Industries, Inc., Shawcor Ltd., Specialty Polymer Coatings, Inc., The Sherwin-Williams Company, and Wah Seong Corporation Berhad are some of the key players in the market.
The powder form segment accounted for the largest market share in 2023
The Asia Pacific market is expected to account for the highest CAGR during the forecast period owing to the growing infrastructure developments in the region.
Rising environmental concerns is an emerging trend in the market.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Pipe Coatings Market - By Surface
1.3.2 Pipe Coatings Market - By Form
1.3.3 Pipe Coatings Market - By Type
1.3.4 Pipe Coatings Market - By End-Use Industry
1.3.5 Pipe Coatings Market - By Region
1.3.5.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. PIPE COATINGS 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. PIPE COATINGS 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. PIPE COATINGS MARKET - GLOBAL MARKET ANALYSIS
6.1. PIPE COATINGS - GLOBAL MARKET OVERVIEW
6.2. PIPE COATINGS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. PIPE COATINGS MARKET - REVENUE AND FORECASTS TO 2028 - SURFACE
7.1. OVERVIEW
7.2. SURFACE MARKET FORECASTS AND ANALYSIS
7.3. INTERNAL SURFACE COATINGS
7.3.1. Overview
7.3.2. Internal Surface Coatings Market Forecast and Analysis
7.4. EXTERNAL SURFACE COATINGS
7.4.1. Overview
7.4.2. External Surface Coatings Market Forecast and Analysis
8. PIPE COATINGS MARKET - REVENUE AND FORECASTS TO 2028 - FORM
8.1. OVERVIEW
8.2. FORM MARKET FORECASTS AND ANALYSIS
8.3. POWDER
8.3.1. Overview
8.3.2. Powder Market Forecast and Analysis
8.4. LIQUID
8.4.1. Overview
8.4.2. Liquid Market Forecast and Analysis
9. PIPE COATINGS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
9.1. OVERVIEW
9.2. TYPE MARKET FORECASTS AND ANALYSIS
9.3. THERMOPLASTIC POLYMER COATINGS
9.3.1. Overview
9.3.2. Thermoplastic Polymer Coatings Market Forecast and Analysis
9.4. FUSION BONDED EPOXY (FBE) COATINGS
9.4.1. Overview
9.4.2. Fusion Bonded Epoxy (FBE) Coatings Market Forecast and Analysis
9.5. CONCRETE COATINGS
9.5.1. Overview
9.5.2. Concrete Coatings Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. PIPE COATINGS MARKET - REVENUE AND FORECASTS TO 2028 - END-USE INDUSTRY
10.1. OVERVIEW
10.2. END-USE INDUSTRY MARKET FORECASTS AND ANALYSIS
10.3. OIL AND GAS INDUSTRY
10.3.1. Overview
10.3.2. Oil and Gas Industry Market Forecast and Analysis
10.4. WATER AND WASTEWATER TREATMENT
10.4.1. Overview
10.4.2. Water and Wastewater Treatment Market Forecast and Analysis
10.5. CHEMICAL PROCESSING
10.5.1. Overview
10.5.2. Chemical Processing Market Forecast and Analysis
10.6. OTHERS
10.6.1. Overview
10.6.2. Others Market Forecast and Analysis
11. PIPE COATINGS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Pipe Coatings Market Overview
11.1.2 North America Pipe Coatings Market Forecasts and Analysis
11.1.3 North America Pipe Coatings Market Forecasts and Analysis - By Surface
11.1.4 North America Pipe Coatings Market Forecasts and Analysis - By Form
11.1.5 North America Pipe Coatings Market Forecasts and Analysis - By Type
11.1.6 North America Pipe Coatings Market Forecasts and Analysis - By End-Use Industry
11.1.7 North America Pipe Coatings Market Forecasts and Analysis - By Countries
11.1.7.1 United States Pipe Coatings Market
11.1.7.1.1 United States Pipe Coatings Market by Surface
11.1.7.1.2 United States Pipe Coatings Market by Form
11.1.7.1.3 United States Pipe Coatings Market by Type
11.1.7.1.4 United States Pipe Coatings Market by End-Use Industry
11.1.7.2 Canada Pipe Coatings Market
11.1.7.2.1 Canada Pipe Coatings Market by Surface
11.1.7.2.2 Canada Pipe Coatings Market by Form
11.1.7.2.3 Canada Pipe Coatings Market by Type
11.1.7.2.4 Canada Pipe Coatings Market by End-Use Industry
11.1.7.3 Mexico Pipe Coatings Market
11.1.7.3.1 Mexico Pipe Coatings Market by Surface
11.1.7.3.2 Mexico Pipe Coatings Market by Form
11.1.7.3.3 Mexico Pipe Coatings Market by Type
11.1.7.3.4 Mexico Pipe Coatings Market by End-Use Industry
11.2. EUROPE
11.2.1 Europe Pipe Coatings Market Overview
11.2.2 Europe Pipe Coatings Market Forecasts and Analysis
11.2.3 Europe Pipe Coatings Market Forecasts and Analysis - By Surface
11.2.4 Europe Pipe Coatings Market Forecasts and Analysis - By Form
11.2.5 Europe Pipe Coatings Market Forecasts and Analysis - By Type
11.2.6 Europe Pipe Coatings Market Forecasts and Analysis - By End-Use Industry
11.2.7 Europe Pipe Coatings Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Pipe Coatings Market
11.2.7.1.1 Germany Pipe Coatings Market by Surface
11.2.7.1.2 Germany Pipe Coatings Market by Form
11.2.7.1.3 Germany Pipe Coatings Market by Type
11.2.7.1.4 Germany Pipe Coatings Market by End-Use Industry
11.2.7.2 France Pipe Coatings Market
11.2.7.2.1 France Pipe Coatings Market by Surface
11.2.7.2.2 France Pipe Coatings Market by Form
11.2.7.2.3 France Pipe Coatings Market by Type
11.2.7.2.4 France Pipe Coatings Market by End-Use Industry
11.2.7.3 Italy Pipe Coatings Market
11.2.7.3.1 Italy Pipe Coatings Market by Surface
11.2.7.3.2 Italy Pipe Coatings Market by Form
11.2.7.3.3 Italy Pipe Coatings Market by Type
11.2.7.3.4 Italy Pipe Coatings Market by End-Use Industry
11.2.7.4 United Kingdom Pipe Coatings Market
11.2.7.4.1 United Kingdom Pipe Coatings Market by Surface
11.2.7.4.2 United Kingdom Pipe Coatings Market by Form
11.2.7.4.3 United Kingdom Pipe Coatings Market by Type
11.2.7.4.4 United Kingdom Pipe Coatings Market by End-Use Industry
11.2.7.5 Russia Pipe Coatings Market
11.2.7.5.1 Russia Pipe Coatings Market by Surface
11.2.7.5.2 Russia Pipe Coatings Market by Form
11.2.7.5.3 Russia Pipe Coatings Market by Type
11.2.7.5.4 Russia Pipe Coatings Market by End-Use Industry
11.2.7.6 Rest of Europe Pipe Coatings Market
11.2.7.6.1 Rest of Europe Pipe Coatings Market by Surface
11.2.7.6.2 Rest of Europe Pipe Coatings Market by Form
11.2.7.6.3 Rest of Europe Pipe Coatings Market by Type
11.2.7.6.4 Rest of Europe Pipe Coatings Market by End-Use Industry
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Pipe Coatings Market Overview
11.3.2 Asia-Pacific Pipe Coatings Market Forecasts and Analysis
11.3.3 Asia-Pacific Pipe Coatings Market Forecasts and Analysis - By Surface
11.3.4 Asia-Pacific Pipe Coatings Market Forecasts and Analysis - By Form
11.3.5 Asia-Pacific Pipe Coatings Market Forecasts and Analysis - By Type
11.3.6 Asia-Pacific Pipe Coatings Market Forecasts and Analysis - By End-Use Industry
11.3.7 Asia-Pacific Pipe Coatings Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Pipe Coatings Market
11.3.7.1.1 Australia Pipe Coatings Market by Surface
11.3.7.1.2 Australia Pipe Coatings Market by Form
11.3.7.1.3 Australia Pipe Coatings Market by Type
11.3.7.1.4 Australia Pipe Coatings Market by End-Use Industry
11.3.7.2 China Pipe Coatings Market
11.3.7.2.1 China Pipe Coatings Market by Surface
11.3.7.2.2 China Pipe Coatings Market by Form
11.3.7.2.3 China Pipe Coatings Market by Type
11.3.7.2.4 China Pipe Coatings Market by End-Use Industry
11.3.7.3 India Pipe Coatings Market
11.3.7.3.1 India Pipe Coatings Market by Surface
11.3.7.3.2 India Pipe Coatings Market by Form
11.3.7.3.3 India Pipe Coatings Market by Type
11.3.7.3.4 India Pipe Coatings Market by End-Use Industry
11.3.7.4 Japan Pipe Coatings Market
11.3.7.4.1 Japan Pipe Coatings Market by Surface
11.3.7.4.2 Japan Pipe Coatings Market by Form
11.3.7.4.3 Japan Pipe Coatings Market by Type
11.3.7.4.4 Japan Pipe Coatings Market by End-Use Industry
11.3.7.5 South Korea Pipe Coatings Market
11.3.7.5.1 South Korea Pipe Coatings Market by Surface
11.3.7.5.2 South Korea Pipe Coatings Market by Form
11.3.7.5.3 South Korea Pipe Coatings Market by Type
11.3.7.5.4 South Korea Pipe Coatings Market by End-Use Industry
11.3.7.6 Rest of Asia-Pacific Pipe Coatings Market
11.3.7.6.1 Rest of Asia-Pacific Pipe Coatings Market by Surface
11.3.7.6.2 Rest of Asia-Pacific Pipe Coatings Market by Form
11.3.7.6.3 Rest of Asia-Pacific Pipe Coatings Market by Type
11.3.7.6.4 Rest of Asia-Pacific Pipe Coatings Market by End-Use Industry
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Pipe Coatings Market Overview
11.4.2 Middle East and Africa Pipe Coatings Market Forecasts and Analysis
11.4.3 Middle East and Africa Pipe Coatings Market Forecasts and Analysis - By Surface
11.4.4 Middle East and Africa Pipe Coatings Market Forecasts and Analysis - By Form
11.4.5 Middle East and Africa Pipe Coatings Market Forecasts and Analysis - By Type
11.4.6 Middle East and Africa Pipe Coatings Market Forecasts and Analysis - By End-Use Industry
11.4.7 Middle East and Africa Pipe Coatings Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Pipe Coatings Market
11.4.7.1.1 South Africa Pipe Coatings Market by Surface
11.4.7.1.2 South Africa Pipe Coatings Market by Form
11.4.7.1.3 South Africa Pipe Coatings Market by Type
11.4.7.1.4 South Africa Pipe Coatings Market by End-Use Industry
11.4.7.2 Saudi Arabia Pipe Coatings Market
11.4.7.2.1 Saudi Arabia Pipe Coatings Market by Surface
11.4.7.2.2 Saudi Arabia Pipe Coatings Market by Form
11.4.7.2.3 Saudi Arabia Pipe Coatings Market by Type
11.4.7.2.4 Saudi Arabia Pipe Coatings Market by End-Use Industry
11.4.7.3 U.A.E Pipe Coatings Market
11.4.7.3.1 U.A.E Pipe Coatings Market by Surface
11.4.7.3.2 U.A.E Pipe Coatings Market by Form
11.4.7.3.3 U.A.E Pipe Coatings Market by Type
11.4.7.3.4 U.A.E Pipe Coatings Market by End-Use Industry
11.4.7.4 Rest of Middle East and Africa Pipe Coatings Market
11.4.7.4.1 Rest of Middle East and Africa Pipe Coatings Market by Surface
11.4.7.4.2 Rest of Middle East and Africa Pipe Coatings Market by Form
11.4.7.4.3 Rest of Middle East and Africa Pipe Coatings Market by Type
11.4.7.4.4 Rest of Middle East and Africa Pipe Coatings Market by End-Use Industry
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Pipe Coatings Market Overview
11.5.2 South and Central America Pipe Coatings Market Forecasts and Analysis
11.5.3 South and Central America Pipe Coatings Market Forecasts and Analysis - By Surface
11.5.4 South and Central America Pipe Coatings Market Forecasts and Analysis - By Form
11.5.5 South and Central America Pipe Coatings Market Forecasts and Analysis - By Type
11.5.6 South and Central America Pipe Coatings Market Forecasts and Analysis - By End-Use Industry
11.5.7 South and Central America Pipe Coatings Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Pipe Coatings Market
11.5.7.1.1 Brazil Pipe Coatings Market by Surface
11.5.7.1.2 Brazil Pipe Coatings Market by Form
11.5.7.1.3 Brazil Pipe Coatings Market by Type
11.5.7.1.4 Brazil Pipe Coatings Market by End-Use Industry
11.5.7.2 Argentina Pipe Coatings Market
11.5.7.2.1 Argentina Pipe Coatings Market by Surface
11.5.7.2.2 Argentina Pipe Coatings Market by Form
11.5.7.2.3 Argentina Pipe Coatings Market by Type
11.5.7.2.4 Argentina Pipe Coatings Market by End-Use Industry
11.5.7.3 Rest of South and Central America Pipe Coatings Market
11.5.7.3.1 Rest of South and Central America Pipe Coatings Market by Surface
11.5.7.3.2 Rest of South and Central America Pipe Coatings Market by Form
11.5.7.3.3 Rest of South and Central America Pipe Coatings Market by Type
11.5.7.3.4 Rest of South and Central America Pipe Coatings Market by End-Use Industry
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. PIPE COATINGS MARKET, KEY COMPANY PROFILES
13.1. 3M COMPANY
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. AKZO NOBEL N.V.
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. ARABIAN PIPE COATING COMPANY
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. ARKEMA GROUP
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. AXALTA COATING SYSTEMS
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. PPG INDUSTRIES, INC.
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. SHAWCOR LTD.
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. SPECIALTY POLYMER COATINGS, INC.
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. THE SHERWIN-WILLIAMS COMPANY
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. WAH SEONG CORPORATION BERHAD
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
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
The List of Companies
- 3M Company
- Akzo Nobel N.V.
- Arabian Pipe Coating Company
- Arkema Group
- Axalta Coating Systems
- PPG Industries, Inc.
- Shawcor Ltd.
- Specialty Polymer Coatings, Inc.
- The Sherwin-Williams Company
- Wah Seong Corporation Berhad
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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