The Polyester Staple Fiber Market is expected to register a CAGR of 8% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The polyester staple fiber market report is segmented by form (solid and hollow). The market is segmented based on grade (PET polyester fiber, PCDT polyester fiber, and others). The market is segmented based on type (filament yarn and staple fiber). The market is segmented based on application (textile and apparel, household furniture, transportation, construction, 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 Polyester Staple Fiber 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.
Polyester Staple Fiber Market Segmentation
Form- Solid and Hollow
- PET Polyester Fiber
- PCDT Polyester Fiber
- Others
- Filament Yarn and Staple Fiber
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Polyester Staple Fiber Market Growth Drivers- Polyester Staple Fibers in Apparel: Polyester staple fibers are the most widely used raw materials in the apparel industry. This is mainly because the global population continues to grow, and so does urbanization, which lends itself to an increasing middle level of consumers with more purchasing power, especially in most developing nations. Accordingly, polyester staple fibers are much appreciated for their ability to make different kinds of fabrics at a relatively low price and in a short period of time while at the same time ensuring durability. In addition, with the increase in purchasing power comes the need for affordable and easy-maintenance clothing that is also durable; thus, PSF continues to be an essential component in the world textile value chain.
- Rising Demand for Recycled Polyester Fibers: The growing focus on environmental issues is a key factor pushing the market for recycled polyester fibers. In fact, both consumers and businesses are becoming more interested in environmentally friendly and sustainable alternatives. This has also led to the emergence of Recycled PSF made from waste, including used PET bottles, given the threats posed by plastic menace and nonbiodegradable synthetic fibers. Advances in recycling technology and the growing acceptance of the circular economy will fuel the growth of recycled polyester fibers. Such growth will enable rPSF to play a significant role in textile and manufacturing activities as a supporter of green practices.
- PSF in Nonwoven Fabrics: Polyester staple fibers are also used in making non-woven fabrics widely used in hygiene (diapers, sanitary towels), medical textile, automotive, and filtration industries, among others. The growing non-woven fabric market, which is attributed to rising health and hygiene awareness and increasing automotive production, will keep pushing the demand for PSF. Among the features of PSF that make it suitable for such uses are its light weight, strength, and low cost.
- Shift Toward Recycled and Biodegradable Polyester Staple Fibers: There is a changing trend in the polyester staple fiber market where the future is brighter for the use of recycled materials such as recycled polyester fibers and profiles that are made of biodegradable materials. Therefore, in an effort to ‘go green’, manufacturers have begun to seek solutions such as biodegradable polyester yarns or focusing on enhancement of the resources to recycle the fibers to avoid entre textile waste issues. These new materials are seen to be essential in controlling polyester manufacturing carbon emissions while providing a solution to the waste management quandary created by unmanageable textile waste.
- Advancements in Fiber Manufacturing Technologies: The new renaissance in the fiber manufacturing process, like the introduction of advanced spinning processes for the production of high-tenacity polyester staple fiber, is predicted to revolutionize the polyester staple fiber business within the shortest time possible. Methods such as melt blowing and electrospinning are being incorporated with polyester staple fibers to enhance the properties of fibrous structures made from such materials for specific applications, for instance, in filtration and medical as well as automotive applications. These will broaden the application base for polyester staple fiber as well as the resultant market share in the high engineering plastics sectors.
- Sustainability in Dyeing and Finishing Processes: Sustainability is pushing more elbow grease in the dyeing and finishing processes for polyester fibers. Conventional methods of dyeing are heavy on the consumption of resources and pollution, hence the advent of non-water dyeing systems, non-toxic colorants, and finishing agents. As these innovations become pervasive, the market of polyester staple fibers will deliver superior offers in regions where the green factor is a strong purchasing strategy.
- Growth in Emerging Economies: The regions of Asia-Pacific, Latin America, and Africa contain many emerging economies that are favorable for the growth of the global polyester staple fiber market. There is an increasing expansion of industrialization, urbanization, and improvement of living standards in these regions, which creates a high demand for textiles, hygiene, and automotive applications. The watering down of consumer preferences, together with increased demand for cheap yet efficient products, will, in turn, create growth opportunities in the polyester staple fibers market within these regions.
- Expansion into Technical and Industrial Applications: Aside from conventional textiles, polyester staple fiber has also gradually gained usage in technical and industrial applications such as automotive (e.g., seat covers, insulations), construction (e.g., geotextiles), and filtration. Given the current state of industrialization of the developing countries and the more advanced and specialized these markets become, the potential for expansion in these atypical markets is greatly evident.
- Sustainability and Recycling Initiatives: The functioning of partnerships involving fiber producers, recyclers, and brands committed to reaching sustainability targets ensures the growth of the recycled polyester fiber market. Additionally, the establishment of recycling systems, as well as the creation of collection and reprocessing networks for end-of-life consumer goods, may contribute to the development of this particular segment. The companies cooperating with these structures will gain advantages through the growth of this segment.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Polyester Staple Fiber 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 Polyester Staple Fiber 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
Increased adoption of recycled and biodegradable fibers is expected to be the key market trends.
Based on application, the textile and apparel segment is expected to witness the fastest growth during the forecast period.
Based on geography, Asia Pacific held the largest share of the polyester staple fiber market due to the strong growth of the textile and apparel and transportation industry in the region.
Rising demand from the apparel industry is driving the market growth.
Reliance Industries Limited, Indorama Ventures Public Company Limited, TORAY INDUSTRIES INC, SINOPEC YIZHENG CHEMICAL FIBRE LIMITED LIABILITY COMPANY, Alpek S.A.B. de C.V., Diyou Fibre (M) Sdn Bhd., Green Group SA, Barnet, Thai polyester Co. Ltd., and Carpenter Co are the key players operating in the polyester staple fiber market.
The Polyester Staple Fiber Market is estimated to witness a CAGR of 8% 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 Polyester Staple Fiber Market - By Product
1.3.2 Polyester Staple Fiber Market - By Origin
1.3.3 Polyester Staple Fiber Market - By Application
1.3.4 Polyester Staple Fiber Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. POLYESTER STAPLE FIBER MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. POLYESTER STAPLE FIBER 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. POLYESTER STAPLE FIBER MARKET - GLOBAL MARKET ANALYSIS
6.1. POLYESTER STAPLE FIBER - GLOBAL MARKET OVERVIEW
6.2. POLYESTER STAPLE FIBER - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. POLYESTER STAPLE FIBER MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. SOLID
7.3.1. Overview
7.3.2. Solid Market Forecast and Analysis
7.4. HOLLOW
7.4.1. Overview
7.4.2. Hollow Market Forecast and Analysis
8. POLYESTER STAPLE FIBER MARKET - REVENUE AND FORECASTS TO 2028 - ORIGIN
8.1. OVERVIEW
8.2. ORIGIN MARKET FORECASTS AND ANALYSIS
8.3. VIRGIN
8.3.1. Overview
8.3.2. Virgin Market Forecast and Analysis
8.4. RECYCLED
8.4.1. Overview
8.4.2. Recycled Market Forecast and Analysis
8.5. BLENDED
8.5.1. Overview
8.5.2. Blended Market Forecast and Analysis
9. POLYESTER STAPLE FIBER MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. AUTOMOTIVE
9.3.1. Overview
9.3.2. Automotive Market Forecast and Analysis
9.4. HOME FURNISHING
9.4.1. Overview
9.4.2. Home furnishing Market Forecast and Analysis
9.5. APPAREL
9.5.1. Overview
9.5.2. Apparel Market Forecast and Analysis
9.6. FILTRATION
9.6.1. Overview
9.6.2. Filtration Market Forecast and Analysis
9.7. OTHERS
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis
10. POLYESTER STAPLE FIBER MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Polyester Staple Fiber Market Overview
10.1.2 North America Polyester Staple Fiber Market Forecasts and Analysis
10.1.3 North America Polyester Staple Fiber Market Forecasts and Analysis - By Product
10.1.4 North America Polyester Staple Fiber Market Forecasts and Analysis - By Origin
10.1.5 North America Polyester Staple Fiber Market Forecasts and Analysis - By Application
10.1.6 North America Polyester Staple Fiber Market Forecasts and Analysis - By Countries
10.1.6.1 United States Polyester Staple Fiber Market
10.1.6.1.1 United States Polyester Staple Fiber Market by Product
10.1.6.1.2 United States Polyester Staple Fiber Market by Origin
10.1.6.1.3 United States Polyester Staple Fiber Market by Application
10.1.6.2 Canada Polyester Staple Fiber Market
10.1.6.2.1 Canada Polyester Staple Fiber Market by Product
10.1.6.2.2 Canada Polyester Staple Fiber Market by Origin
10.1.6.2.3 Canada Polyester Staple Fiber Market by Application
10.1.6.3 Mexico Polyester Staple Fiber Market
10.1.6.3.1 Mexico Polyester Staple Fiber Market by Product
10.1.6.3.2 Mexico Polyester Staple Fiber Market by Origin
10.1.6.3.3 Mexico Polyester Staple Fiber Market by Application
10.2. EUROPE
10.2.1 Europe Polyester Staple Fiber Market Overview
10.2.2 Europe Polyester Staple Fiber Market Forecasts and Analysis
10.2.3 Europe Polyester Staple Fiber Market Forecasts and Analysis - By Product
10.2.4 Europe Polyester Staple Fiber Market Forecasts and Analysis - By Origin
10.2.5 Europe Polyester Staple Fiber Market Forecasts and Analysis - By Application
10.2.6 Europe Polyester Staple Fiber Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Polyester Staple Fiber Market
10.2.6.1.1 Germany Polyester Staple Fiber Market by Product
10.2.6.1.2 Germany Polyester Staple Fiber Market by Origin
10.2.6.1.3 Germany Polyester Staple Fiber Market by Application
10.2.6.2 France Polyester Staple Fiber Market
10.2.6.2.1 France Polyester Staple Fiber Market by Product
10.2.6.2.2 France Polyester Staple Fiber Market by Origin
10.2.6.2.3 France Polyester Staple Fiber Market by Application
10.2.6.3 Italy Polyester Staple Fiber Market
10.2.6.3.1 Italy Polyester Staple Fiber Market by Product
10.2.6.3.2 Italy Polyester Staple Fiber Market by Origin
10.2.6.3.3 Italy Polyester Staple Fiber Market by Application
10.2.6.4 United Kingdom Polyester Staple Fiber Market
10.2.6.4.1 United Kingdom Polyester Staple Fiber Market by Product
10.2.6.4.2 United Kingdom Polyester Staple Fiber Market by Origin
10.2.6.4.3 United Kingdom Polyester Staple Fiber Market by Application
10.2.6.5 Russia Polyester Staple Fiber Market
10.2.6.5.1 Russia Polyester Staple Fiber Market by Product
10.2.6.5.2 Russia Polyester Staple Fiber Market by Origin
10.2.6.5.3 Russia Polyester Staple Fiber Market by Application
10.2.6.6 Rest of Europe Polyester Staple Fiber Market
10.2.6.6.1 Rest of Europe Polyester Staple Fiber Market by Product
10.2.6.6.2 Rest of Europe Polyester Staple Fiber Market by Origin
10.2.6.6.3 Rest of Europe Polyester Staple Fiber Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Polyester Staple Fiber Market Overview
10.3.2 Asia-Pacific Polyester Staple Fiber Market Forecasts and Analysis
10.3.3 Asia-Pacific Polyester Staple Fiber Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific Polyester Staple Fiber Market Forecasts and Analysis - By Origin
10.3.5 Asia-Pacific Polyester Staple Fiber Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Polyester Staple Fiber Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Polyester Staple Fiber Market
10.3.6.1.1 Australia Polyester Staple Fiber Market by Product
10.3.6.1.2 Australia Polyester Staple Fiber Market by Origin
10.3.6.1.3 Australia Polyester Staple Fiber Market by Application
10.3.6.2 China Polyester Staple Fiber Market
10.3.6.2.1 China Polyester Staple Fiber Market by Product
10.3.6.2.2 China Polyester Staple Fiber Market by Origin
10.3.6.2.3 China Polyester Staple Fiber Market by Application
10.3.6.3 India Polyester Staple Fiber Market
10.3.6.3.1 India Polyester Staple Fiber Market by Product
10.3.6.3.2 India Polyester Staple Fiber Market by Origin
10.3.6.3.3 India Polyester Staple Fiber Market by Application
10.3.6.4 Japan Polyester Staple Fiber Market
10.3.6.4.1 Japan Polyester Staple Fiber Market by Product
10.3.6.4.2 Japan Polyester Staple Fiber Market by Origin
10.3.6.4.3 Japan Polyester Staple Fiber Market by Application
10.3.6.5 South Korea Polyester Staple Fiber Market
10.3.6.5.1 South Korea Polyester Staple Fiber Market by Product
10.3.6.5.2 South Korea Polyester Staple Fiber Market by Origin
10.3.6.5.3 South Korea Polyester Staple Fiber Market by Application
10.3.6.6 Rest of Asia-Pacific Polyester Staple Fiber Market
10.3.6.6.1 Rest of Asia-Pacific Polyester Staple Fiber Market by Product
10.3.6.6.2 Rest of Asia-Pacific Polyester Staple Fiber Market by Origin
10.3.6.6.3 Rest of Asia-Pacific Polyester Staple Fiber Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Polyester Staple Fiber Market Overview
10.4.2 Middle East and Africa Polyester Staple Fiber Market Forecasts and Analysis
10.4.3 Middle East and Africa Polyester Staple Fiber Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa Polyester Staple Fiber Market Forecasts and Analysis - By Origin
10.4.5 Middle East and Africa Polyester Staple Fiber Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Polyester Staple Fiber Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Polyester Staple Fiber Market
10.4.6.1.1 South Africa Polyester Staple Fiber Market by Product
10.4.6.1.2 South Africa Polyester Staple Fiber Market by Origin
10.4.6.1.3 South Africa Polyester Staple Fiber Market by Application
10.4.6.2 Saudi Arabia Polyester Staple Fiber Market
10.4.6.2.1 Saudi Arabia Polyester Staple Fiber Market by Product
10.4.6.2.2 Saudi Arabia Polyester Staple Fiber Market by Origin
10.4.6.2.3 Saudi Arabia Polyester Staple Fiber Market by Application
10.4.6.3 U.A.E Polyester Staple Fiber Market
10.4.6.3.1 U.A.E Polyester Staple Fiber Market by Product
10.4.6.3.2 U.A.E Polyester Staple Fiber Market by Origin
10.4.6.3.3 U.A.E Polyester Staple Fiber Market by Application
10.4.6.4 Rest of Middle East and Africa Polyester Staple Fiber Market
10.4.6.4.1 Rest of Middle East and Africa Polyester Staple Fiber Market by Product
10.4.6.4.2 Rest of Middle East and Africa Polyester Staple Fiber Market by Origin
10.4.6.4.3 Rest of Middle East and Africa Polyester Staple Fiber Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Polyester Staple Fiber Market Overview
10.5.2 South and Central America Polyester Staple Fiber Market Forecasts and Analysis
10.5.3 South and Central America Polyester Staple Fiber Market Forecasts and Analysis - By Product
10.5.4 South and Central America Polyester Staple Fiber Market Forecasts and Analysis - By Origin
10.5.5 South and Central America Polyester Staple Fiber Market Forecasts and Analysis - By Application
10.5.6 South and Central America Polyester Staple Fiber Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Polyester Staple Fiber Market
10.5.6.1.1 Brazil Polyester Staple Fiber Market by Product
10.5.6.1.2 Brazil Polyester Staple Fiber Market by Origin
10.5.6.1.3 Brazil Polyester Staple Fiber Market by Application
10.5.6.2 Argentina Polyester Staple Fiber Market
10.5.6.2.1 Argentina Polyester Staple Fiber Market by Product
10.5.6.2.2 Argentina Polyester Staple Fiber Market by Origin
10.5.6.2.3 Argentina Polyester Staple Fiber Market by Application
10.5.6.3 Rest of South and Central America Polyester Staple Fiber Market
10.5.6.3.1 Rest of South and Central America Polyester Staple Fiber Market by Product
10.5.6.3.2 Rest of South and Central America Polyester Staple Fiber Market by Origin
10.5.6.3.3 Rest of South and Central America Polyester Staple Fiber Market by Application
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. POLYESTER STAPLE FIBER MARKET, KEY COMPANY PROFILES
12.1. ALPEK S.A.B. DE C.V.
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. BOMBAY DYEING
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. CHINA PETROLEUM CORPORATION (SINOPEC GROUP)
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. DIYOU FIBRE (M) SDN BHD
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. HUVIS CORPORATION
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. INDORAMA CORPORATION
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. RELIANCE INDUSTRIES LIMITED
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. TORAY CHEMICAL KOREA, 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. W. BARNET GMBH AND CO. KG
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. XINDA CORP.
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. Alpek S.A.B. de C.V.
2. Bombay Dyeing
3. China Petroleum Corporation (Sinopec Group)
4. Diyou Fibre (M) Sdn Bhd
5. Huvis Corporation
6. Indorama Corporation
7. Reliance Industries Limited
8. Toray Chemical Korea, Inc.
9. W. Barnet GmbH and Co. KG
10. Xinda Corp.
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
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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
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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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