Polyetheretherketone Market Size (2021-2031) and Regional Overview
The Polyetheretherketone Market is expected to register a CAGR of 8% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The polyetheretherketone market report is segmented by product (unfilled, carbon filled, and glass filled). The market is segmented based on the end-use industry (medical, automotive, aerospace, industrial and general engineering, electric and electronic, 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 Polyetheretherketone 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.
Polyetheretherketone Market Segmentation
Product- Unfilled
- Carbon filled
- Glass filled
- Medical
- Automotive
- Aerospace
- Industrial and General Engineering
- Electric and Electronic
- Others
Strategic Insights
Polyetheretherketone Market Growth Drivers- Rising Demand for PEEK in Aerospace and Automotive Sectors: The need for high-performance materials within the aerospace and automobile sectors is expected to increase. As a result of mechanic improvements, PEEK will come more in practice besides medical equipment. PEEK also possesses good strength, high resistance to sterilization techniques, and is highly biocompatible which makes it relevant for use in medical apparatus and instruments.
- PEEK's Role in Medical Applications, Especially in Orthopedics and Surgeries: It is implanted in devices used to treat the spine, prostheses, and scanners helping in providing the necessary mechanical strength and properties that help implants work without any problems in the human body. PEEK will, therefore, see wider applications in the manufacture of devices with an ever-rising population and expansion of the global healthcare systems, particularly focused on orthopedics and minimally invasive surgeries due to the polymer's ability to replicate the mechanical properties of bone and is non-toxic to human tissue.
- Advancements in Manufacturing Techniques Driving PEEK Market Growth: In particular, it is expected that the development of the PEEK market will be caused by the growing adoption of more complicated processing techniques, including 3-D printing. Sophisticated manufacturing techniques such as injection molding and laser sintering or some other similar methods that make it possible to manufacture new PEEK parts or elements have sparked rising interest and implementation of such polymers across various sectors.
- Advancements in PEEK Composites for High-Performance Applications: The improvements of PEEK composite and hybrid materials are easily one of the developments that are set to take place soon. To enhance the use of PEEK Composite in reinforced structural applications, carbon fiber, glass fiber, or other additives are added to yield composite materials with better strength, stiffness, and thermal stability properties. Thus, such materials can find their application in high-demand industries such as the production of automotive parts, aerospace components and industrial machines. This material has an upward growth curve, especially with its application in certain key industries, which will also improve it, giving rise to the production of specific PEEK-oriented tailored materials.
- Sustainability Concerns Driving Innovation in PEEK Recycling and Biodegradable Alternatives: There is a heightened awareness of the protection of the environment and as such, there is a greater concern about the sustainability in the production of plastics. More often than not, although PEEK classifies as high-performance plastics; the recyclability of the material is still having some reservations when compared to a majority of the polymers. As a result, this has seen the focus shift towards the design of more recyclable PEEK and other biodegradable alternatives. Lowering the impact of waste and conventional energy contributes to the potential growth of new uses, particularly secondary and tertiary use, and recycling of PEEK materials, creating a positive environment for the market even during these times of ecological preservation.
- PEEK's Growing Role in Shrinking Electronics and IoT Applications: Owing to the improved connectivity brought about by the growth of the Internet of Things (IoT), coupled with the increase in consumer electronic devices, the shrinking of electronic elements is yet another predominant trend. PEEK is widely used because of its PEEK strong internal mechanical properties combined with excellent electrical insulation and heat resistance.
- Opportunities for PEEK in Aerospace and Defense for Enhanced Performance: The high strength-to-weight ratio of PEEK and its ability to work under extreme temperatures and pressures present great opportunities in the aerospace and military sectors. It is, however, notable that there is a growing concern within the aircraft manufacturers for the use of lighter, stronger materials so as to enhance the fuel efficiency of the aircraft and performance as well. Also, PEEK finds defense utility, for example, in military transport and other operational systems focused on durability and wear-resistant materials. Thus, with the increase in expenditures on the aerospace and defense market, it can be anticipated that the penetration of PEEK in the materials market for these sectors will be more significant.
- PEEK's Expanding Role in Medical Device Applications: The scope of PEEK applications expands into medical devices as well. PEEK is strong, thermally stable, and, most importantly, can be easily machined and 3D-printed, which presents neat possibilities while spinal or orthopedic implants (today’s personalized implants) are growing in popularity. Above and beyond, it is a compound that can be used in long-term implants because of it’s tissue compatibility and incorporate characteristics. It is expected that the sales share of advanced materials such as PEEK for medical purposes will continue to grow due to the increasing revenues from healthcare in light of the global elderly population.
- Additive Manufacturing Boosts PEEK Adoption in Aerospace, Automotive, and Healthcare: The additive manufacturing (3D printing) revolution in the aerospace, automotive, and health industries presents an interesting window of opportunity for PEEK. PEEK is especially suited for additive manufacturing because parts can be produced with little or no waste, complex shapes can be designed and produced and high strength-to-weight ratios of the components made. The issue of PEEK for production with the help of 3D printers has already started to be more popular, enabling manufacturers of such devices to create tailored and accurate parts within a short time.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Polyetheretherketone 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 Polyetheretherketone 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
Advancements in PEEK composites and hybrid materials are expected to be the key market trends.
Based on geography, Asia Pacific held the largest share of the polyetheretherketone market due to the strong growth of the automotive industry.
Based on end-use industry, the automotive segment is expected to witness the fastest growth during the forecast period.
Increasing demand for high-performance materials in aerospace and automotive is driving the market growth.
Victrex plc, Solvay S.A., SABIC, Evonik Industries AG, Panjin Zhongrun High Performance Polymers Co. Ltd., Celanese Corporation, Zyex Ltd., Caledonian Industries Ltd., Quadrant EPP Surlon India Ltd., and Jrlon Inc are the key players operating in the polyetheretherketone market.
The Polyetheretherketone 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 Polyetheretherketone Market - By Type
1.3.2 Polyetheretherketone Market - By End-Use Industry
1.3.3 Polyetheretherketone Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. POLYETHERETHERKETONE 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. POLYETHERETHERKETONE 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. POLYETHERETHERKETONE MARKET - GLOBAL MARKET ANALYSIS
6.1. POLYETHERETHERKETONE - GLOBAL MARKET OVERVIEW
6.2. POLYETHERETHERKETONE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. POLYETHERETHERKETONE MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. GLASS REINFORCED
7.3.1. Overview
7.3.2. Glass Reinforced Market Forecast and Analysis
7.4. CARBON FIBER REINFORCED
7.4.1. Overview
7.4.2. Carbon Fiber Reinforced Market Forecast and Analysis
7.5. UNFILLED
7.5.1. Overview
7.5.2. Unfilled Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. POLYETHERETHERKETONE MARKET - REVENUE AND FORECASTS TO 2028 - END-USE INDUSTRY
8.1. OVERVIEW
8.2. END-USE INDUSTRY MARKET FORECASTS AND ANALYSIS
8.3. ELECTRICAL AND ELECTRONICS
8.3.1. Overview
8.3.2. Electrical and Electronics Market Forecast and Analysis
8.4. AEROSPACE
8.4.1. Overview
8.4.2. Aerospace Market Forecast and Analysis
8.5. AUTOMOTIVE
8.5.1. Overview
8.5.2. Automotive Market Forecast and Analysis
8.6. OIL AND GAS
8.6.1. Overview
8.6.2. Oil and Gas Market Forecast and Analysis
8.7. MEDICAL
8.7.1. Overview
8.7.2. Medical Market Forecast and Analysis
8.8. OTHERS
8.8.1. Overview
8.8.2. Others Market Forecast and Analysis
9. POLYETHERETHERKETONE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Polyetheretherketone Market Overview
9.1.2 North America Polyetheretherketone Market Forecasts and Analysis
9.1.3 North America Polyetheretherketone Market Forecasts and Analysis - By Type
9.1.4 North America Polyetheretherketone Market Forecasts and Analysis - By End-Use Industry
9.1.5 North America Polyetheretherketone Market Forecasts and Analysis - By Countries
9.1.5.1 United States Polyetheretherketone Market
9.1.5.1.1 United States Polyetheretherketone Market by Type
9.1.5.1.2 United States Polyetheretherketone Market by End-Use Industry
9.1.5.2 Canada Polyetheretherketone Market
9.1.5.2.1 Canada Polyetheretherketone Market by Type
9.1.5.2.2 Canada Polyetheretherketone Market by End-Use Industry
9.1.5.3 Mexico Polyetheretherketone Market
9.1.5.3.1 Mexico Polyetheretherketone Market by Type
9.1.5.3.2 Mexico Polyetheretherketone Market by End-Use Industry
9.2. EUROPE
9.2.1 Europe Polyetheretherketone Market Overview
9.2.2 Europe Polyetheretherketone Market Forecasts and Analysis
9.2.3 Europe Polyetheretherketone Market Forecasts and Analysis - By Type
9.2.4 Europe Polyetheretherketone Market Forecasts and Analysis - By End-Use Industry
9.2.5 Europe Polyetheretherketone Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Polyetheretherketone Market
9.2.5.1.1 Germany Polyetheretherketone Market by Type
9.2.5.1.2 Germany Polyetheretherketone Market by End-Use Industry
9.2.5.2 France Polyetheretherketone Market
9.2.5.2.1 France Polyetheretherketone Market by Type
9.2.5.2.2 France Polyetheretherketone Market by End-Use Industry
9.2.5.3 Italy Polyetheretherketone Market
9.2.5.3.1 Italy Polyetheretherketone Market by Type
9.2.5.3.2 Italy Polyetheretherketone Market by End-Use Industry
9.2.5.4 United Kingdom Polyetheretherketone Market
9.2.5.4.1 United Kingdom Polyetheretherketone Market by Type
9.2.5.4.2 United Kingdom Polyetheretherketone Market by End-Use Industry
9.2.5.5 Russia Polyetheretherketone Market
9.2.5.5.1 Russia Polyetheretherketone Market by Type
9.2.5.5.2 Russia Polyetheretherketone Market by End-Use Industry
9.2.5.6 Rest of Europe Polyetheretherketone Market
9.2.5.6.1 Rest of Europe Polyetheretherketone Market by Type
9.2.5.6.2 Rest of Europe Polyetheretherketone Market by End-Use Industry
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Polyetheretherketone Market Overview
9.3.2 Asia-Pacific Polyetheretherketone Market Forecasts and Analysis
9.3.3 Asia-Pacific Polyetheretherketone Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Polyetheretherketone Market Forecasts and Analysis - By End-Use Industry
9.3.5 Asia-Pacific Polyetheretherketone Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Polyetheretherketone Market
9.3.5.1.1 Australia Polyetheretherketone Market by Type
9.3.5.1.2 Australia Polyetheretherketone Market by End-Use Industry
9.3.5.2 China Polyetheretherketone Market
9.3.5.2.1 China Polyetheretherketone Market by Type
9.3.5.2.2 China Polyetheretherketone Market by End-Use Industry
9.3.5.3 India Polyetheretherketone Market
9.3.5.3.1 India Polyetheretherketone Market by Type
9.3.5.3.2 India Polyetheretherketone Market by End-Use Industry
9.3.5.4 Japan Polyetheretherketone Market
9.3.5.4.1 Japan Polyetheretherketone Market by Type
9.3.5.4.2 Japan Polyetheretherketone Market by End-Use Industry
9.3.5.5 South Korea Polyetheretherketone Market
9.3.5.5.1 South Korea Polyetheretherketone Market by Type
9.3.5.5.2 South Korea Polyetheretherketone Market by End-Use Industry
9.3.5.6 Rest of Asia-Pacific Polyetheretherketone Market
9.3.5.6.1 Rest of Asia-Pacific Polyetheretherketone Market by Type
9.3.5.6.2 Rest of Asia-Pacific Polyetheretherketone Market by End-Use Industry
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Polyetheretherketone Market Overview
9.4.2 Middle East and Africa Polyetheretherketone Market Forecasts and Analysis
9.4.3 Middle East and Africa Polyetheretherketone Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Polyetheretherketone Market Forecasts and Analysis - By End-Use Industry
9.4.5 Middle East and Africa Polyetheretherketone Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Polyetheretherketone Market
9.4.5.1.1 South Africa Polyetheretherketone Market by Type
9.4.5.1.2 South Africa Polyetheretherketone Market by End-Use Industry
9.4.5.2 Saudi Arabia Polyetheretherketone Market
9.4.5.2.1 Saudi Arabia Polyetheretherketone Market by Type
9.4.5.2.2 Saudi Arabia Polyetheretherketone Market by End-Use Industry
9.4.5.3 U.A.E Polyetheretherketone Market
9.4.5.3.1 U.A.E Polyetheretherketone Market by Type
9.4.5.3.2 U.A.E Polyetheretherketone Market by End-Use Industry
9.4.5.4 Rest of Middle East and Africa Polyetheretherketone Market
9.4.5.4.1 Rest of Middle East and Africa Polyetheretherketone Market by Type
9.4.5.4.2 Rest of Middle East and Africa Polyetheretherketone Market by End-Use Industry
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Polyetheretherketone Market Overview
9.5.2 South and Central America Polyetheretherketone Market Forecasts and Analysis
9.5.3 South and Central America Polyetheretherketone Market Forecasts and Analysis - By Type
9.5.4 South and Central America Polyetheretherketone Market Forecasts and Analysis - By End-Use Industry
9.5.5 South and Central America Polyetheretherketone Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Polyetheretherketone Market
9.5.5.1.1 Brazil Polyetheretherketone Market by Type
9.5.5.1.2 Brazil Polyetheretherketone Market by End-Use Industry
9.5.5.2 Argentina Polyetheretherketone Market
9.5.5.2.1 Argentina Polyetheretherketone Market by Type
9.5.5.2.2 Argentina Polyetheretherketone Market by End-Use Industry
9.5.5.3 Rest of South and Central America Polyetheretherketone Market
9.5.5.3.1 Rest of South and Central America Polyetheretherketone Market by Type
9.5.5.3.2 Rest of South and Central America Polyetheretherketone Market by End-Use 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. POLYETHERETHERKETONE MARKET, KEY COMPANY PROFILES
11.1. VICTREX PLC
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. SOLVAY S.A.
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. EVONIK INDUSTRIES AG
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. PANJIN ZHONGRUN HIGH PERFORMANCE POLYMERS CO. LTD.,
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. CELANESE CORPORATION
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. SABIC
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. ZYEX LTD.,
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. CALEDONIAN INDUSTRIES 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. QUADRANT EPP SURLON INDIA LTD.,
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
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Victrex plc
2. Solvay S.A.
3. Evonik Industries AG
4. Panjin Zhongrun High Performance Polymers Co. Ltd.,
5. Celanese Corporation
6. SABIC
7. Zyex Ltd.,
8. Caledonian Industries Ltd.,
9. Quadrant EPP Surlon India 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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