The Polymer Clay Market is expected to register a CAGR of 5% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
Polymer Clay Market covers analysis By Form (Solid, Liquid); End-Use (Residential, Commercial, Industrial); Application (Jewelry making, Arts and Sculpture Making, Toys and Novelty items Manufacturing, Ceramic Products Manufacturing, Others.), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). Polymer clay is basically a synthetic clay-like material that is mostly made up of plasticizer, resin, polyvinyl chloride, and pigment. When the polymer clay is in raw form, it is malleable and can be shaped into any form. The raw polymer clay is heated so that the PVC particles can fuse together in order to make the materials rigid and hard.
Purpose of the ReportThe report Polymer Clay 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.
Polymer Clay Market Segmentation
Form- Solid
- Liquid
- Residential
- Commercial
- Industrial
- Jewelry making
- Arts and Sculpture Making
- Toys and Novelty items Manufacturing
- Ceramic Products Manufacturing
- North America
- Europe
- Asia-Pacific
- Middle East and Africa
- South and Central America
Strategic Insights
Polymer Clay Market Growth Drivers- Growing Popularity of DIY and Crafting Activities: One of the key drivers of the global polymer clay market is the increasing popularity of DIY (Do-It-Yourself) projects and crafting activities. Polymer clay, known for its versatility and ease of use, is widely used by hobbyists, artists, and crafters for creating jewelry, sculptures, home decor, and other personalized items. Social media platforms, particularly Pinterest and Instagram, have fueled the trend of showcasing unique handmade creations, inspiring individuals to explore polymer clay crafting. As more people engage in artistic and creative hobbies, the demand for polymer clay products continues to rise, making it a major driver of the market.
- Expanding Application in Jewelry and Fashion Accessories: Polymer clay is increasingly used in the creation of custom jewelry and fashion accessories due to its vibrant colors, lightweight nature, and ability to be molded into intricate shapes. Jewelry designers, both professional and amateur, are adopting polymer clay as a versatile medium for producing unique, personalized pieces like earrings, necklaces, and bracelets. The ability to manipulate polymer clay into complex designs and textures, along with its cost-effectiveness compared to traditional materials, contributes to its growing use in the jewelry industry. As the fashion industry embraces handmade, one-of-a-kind accessories, the demand for polymer clay in this sector is expected to keep increasing.
- Rising Demand for Custom and Personalized Products: There is a growing consumer preference for personalized and customized products, which is fueling the demand for polymer clay. As consumers increasingly seek individualized items, especially in jewelry, home decor, and gifts, polymer clay offers a unique solution for creating custom designs. Artists and small businesses are leveraging polymer clay’s flexibility to offer bespoke products that meet the specific tastes and preferences of customers. This trend is especially prominent in the handmade product market, where consumers are willing to pay a premium for personalized items, further boosting the demand for polymer clay.
- Introduction of Eco-friendly and Sustainable Polymer Clays: The trend toward sustainability and eco-friendly products is increasingly influencing the polymer clay market. Manufacturers are exploring the development of polymer clays made from renewable, non-toxic, and biodegradable materials to cater to environmentally conscious consumers. With the rise of eco-friendly crafting supplies, there is a shift towards offering non-VOC (volatile organic compounds) polymer clays, which are safer for both the environment and users. This growing trend toward sustainable and eco-friendly options is expected to shape the future of the polymer clay market, appealing to the increasing number of consumers and crafters who prioritize sustainability.
- Integration of Digital Design Tools and 3D Printing: The adoption of digital design tools and 3D printing technology is expected to be a key trend in the polymer clay market. 3D printing allows for precise control over polymer clay creations, enabling artists and designers to produce intricate and complex designs that were previously difficult to achieve by hand. In combination with digital design software, 3D printing can open new possibilities for customization and mass production of polymer clay products. This technological advancement is likely to expand the scope of polymer clay applications, allowing for the production of more intricate, detailed, and high-quality items in various industries such as fashion, jewelry, and home decor.
- Rise in Professional Use and Commercialization of Polymer Clay Products: While polymer clay has long been popular in the hobbyist sector, its use in professional and commercial applications is expected to grow in the future. Artists and manufacturers are increasingly using polymer clay to create high-quality, mass-produced items for retail. This includes polymer clay used in fashion collections, home decor items, and even artistic installations. With the growth of online marketplaces and platforms, professional polymer clay artists and designers are able to reach a broader audience, turning polymer clay into a more mainstream material for both mass production and high-end artistry.
- Expansion into Emerging Markets: The global polymer clay market has significant growth potential in emerging markets, particularly in regions like Asia-Pacific, Latin America, and the Middle East. As disposable incomes rise in these regions, there is an increasing interest in crafting and personalized items. The growing middle class and the expanding interest in DIY projects provide a solid opportunity for polymer clay manufacturers to tap into these markets. Expanding distribution channels and educating consumers on the versatility and uses of polymer clay can help increase adoption in these regions, leading to long-term market growth.
- Growth of Online Retail Platforms and E-commerce: The rise of online retail and e-commerce offers a significant opportunity for the polymer clay market. With platforms such as Etsy, Amazon, and eBay, both amateur and professional artists can sell their polymer clay creations directly to a global audience. As the global e-commerce market continues to grow, the demand for polymer clay products is expected to rise, as consumers can easily purchase unique, handmade polymer clay items from the comfort of their homes. This digital transformation opens up new sales channels for businesses, providing access to a broader customer base and supporting market growth.
- Development of Specialized Polymer Clay Products for Different Industries: Another opportunity in the polymer clay market lies in the development of specialized polymer clay formulations for specific industries. For example, there is growing interest in polymer clay products that are resistant to heat, UV light, and moisture, which can be used in applications such as automotive, fashion, and interior design. Manufacturers can also explore creating polymer clay products designed for use in the education sector, where clay modeling is a popular activity for children. By diversifying product offerings and creating specialized polymer clay products tailored to different industry needs, manufacturers can tap into niche markets and enhance growth potential.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Polymer Clay 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 Polymer Clay 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
The growing DIY trend is an emerging the market
The epoxy polymer type segment accounted for the largest market share in 2023.
The North America market is expected to account for the highest CAGR during the forecast period owing to the growing art and craft industry in the region.
Rising construction industry is a key driver in the market
AMERICAN ART CLAY CO, INC., Craft Polymers, Kato Polyclay, LEVINE LEICHTMAN CAPITAL PARTNERS, Polyform Products Company, Silverpetal, STAEDTLER Mars GmbH and Co. KG, The Clay and Paint Factory, VAN AKEN INTERNATIONAL, and Viva Decor GmbH are some of the key players in the market.
The Polymer Clay Market is estimated to witness a CAGR of 5% 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 Polymer Clay Market - By Form
1.3.2 Polymer Clay Market - By End-Use
1.3.3 Polymer Clay Market - By Application
1.3.4 Polymer Clay Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. POLYMER CLAY 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. POLYMER CLAY 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. POLYMER CLAY MARKET - GLOBAL MARKET ANALYSIS
6.1. POLYMER CLAY - GLOBAL MARKET OVERVIEW
6.2. POLYMER CLAY - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. POLYMER CLAY MARKET - REVENUE AND FORECASTS TO 2028 - FORM
7.1. OVERVIEW
7.2. FORM MARKET FORECASTS AND ANALYSIS
7.3. SOLID
7.3.1. Overview
7.3.2. Solid Market Forecast and Analysis
7.4. LIQUID
7.4.1. Overview
7.4.2. Liquid Market Forecast and Analysis
8. POLYMER CLAY MARKET - REVENUE AND FORECASTS TO 2028 - END-USE
8.1. OVERVIEW
8.2. END-USE MARKET FORECASTS AND ANALYSIS
8.3. RESIDENTIAL
8.3.1. Overview
8.3.2. Residential Market Forecast and Analysis
8.4. COMMERCIAL
8.4.1. Overview
8.4.2. Commercial Market Forecast and Analysis
8.5. INDUSTRIAL
8.5.1. Overview
8.5.2. Industrial Market Forecast and Analysis
9. POLYMER CLAY MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. JEWELRY MAKING
9.3.1. Overview
9.3.2. Jewelry making Market Forecast and Analysis
9.4. ARTS AND SCULPTURE MAKING
9.4.1. Overview
9.4.2. Arts and Sculpture Making Market Forecast and Analysis
9.5. TOYS AND NOVELTY ITEMS MANUFACTURING
9.5.1. Overview
9.5.2. Toys and Novelty items Manufacturing Market Forecast and Analysis
9.6. CERAMIC PRODUCTS MANUFACTURING
9.6.1. Overview
9.6.2. Ceramic Products Manufacturing Market Forecast and Analysis
9.7. OTHERS.
9.7.1. Overview
9.7.2. Others. Market Forecast and Analysis
10. POLYMER CLAY MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Polymer Clay Market Overview
10.1.2 North America Polymer Clay Market Forecasts and Analysis
10.1.3 North America Polymer Clay Market Forecasts and Analysis - By Form
10.1.4 North America Polymer Clay Market Forecasts and Analysis - By End-Use
10.1.5 North America Polymer Clay Market Forecasts and Analysis - By Application
10.1.6 North America Polymer Clay Market Forecasts and Analysis - By Countries
10.1.6.1 United States Polymer Clay Market
10.1.6.1.1 United States Polymer Clay Market by Form
10.1.6.1.2 United States Polymer Clay Market by End-Use
10.1.6.1.3 United States Polymer Clay Market by Application
10.1.6.2 Canada Polymer Clay Market
10.1.6.2.1 Canada Polymer Clay Market by Form
10.1.6.2.2 Canada Polymer Clay Market by End-Use
10.1.6.2.3 Canada Polymer Clay Market by Application
10.1.6.3 Mexico Polymer Clay Market
10.1.6.3.1 Mexico Polymer Clay Market by Form
10.1.6.3.2 Mexico Polymer Clay Market by End-Use
10.1.6.3.3 Mexico Polymer Clay Market by Application
10.2. EUROPE
10.2.1 Europe Polymer Clay Market Overview
10.2.2 Europe Polymer Clay Market Forecasts and Analysis
10.2.3 Europe Polymer Clay Market Forecasts and Analysis - By Form
10.2.4 Europe Polymer Clay Market Forecasts and Analysis - By End-Use
10.2.5 Europe Polymer Clay Market Forecasts and Analysis - By Application
10.2.6 Europe Polymer Clay Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Polymer Clay Market
10.2.6.1.1 Germany Polymer Clay Market by Form
10.2.6.1.2 Germany Polymer Clay Market by End-Use
10.2.6.1.3 Germany Polymer Clay Market by Application
10.2.6.2 France Polymer Clay Market
10.2.6.2.1 France Polymer Clay Market by Form
10.2.6.2.2 France Polymer Clay Market by End-Use
10.2.6.2.3 France Polymer Clay Market by Application
10.2.6.3 Italy Polymer Clay Market
10.2.6.3.1 Italy Polymer Clay Market by Form
10.2.6.3.2 Italy Polymer Clay Market by End-Use
10.2.6.3.3 Italy Polymer Clay Market by Application
10.2.6.4 United Kingdom Polymer Clay Market
10.2.6.4.1 United Kingdom Polymer Clay Market by Form
10.2.6.4.2 United Kingdom Polymer Clay Market by End-Use
10.2.6.4.3 United Kingdom Polymer Clay Market by Application
10.2.6.5 Russia Polymer Clay Market
10.2.6.5.1 Russia Polymer Clay Market by Form
10.2.6.5.2 Russia Polymer Clay Market by End-Use
10.2.6.5.3 Russia Polymer Clay Market by Application
10.2.6.6 Rest of Europe Polymer Clay Market
10.2.6.6.1 Rest of Europe Polymer Clay Market by Form
10.2.6.6.2 Rest of Europe Polymer Clay Market by End-Use
10.2.6.6.3 Rest of Europe Polymer Clay Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Polymer Clay Market Overview
10.3.2 Asia-Pacific Polymer Clay Market Forecasts and Analysis
10.3.3 Asia-Pacific Polymer Clay Market Forecasts and Analysis - By Form
10.3.4 Asia-Pacific Polymer Clay Market Forecasts and Analysis - By End-Use
10.3.5 Asia-Pacific Polymer Clay Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Polymer Clay Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Polymer Clay Market
10.3.6.1.1 Australia Polymer Clay Market by Form
10.3.6.1.2 Australia Polymer Clay Market by End-Use
10.3.6.1.3 Australia Polymer Clay Market by Application
10.3.6.2 China Polymer Clay Market
10.3.6.2.1 China Polymer Clay Market by Form
10.3.6.2.2 China Polymer Clay Market by End-Use
10.3.6.2.3 China Polymer Clay Market by Application
10.3.6.3 India Polymer Clay Market
10.3.6.3.1 India Polymer Clay Market by Form
10.3.6.3.2 India Polymer Clay Market by End-Use
10.3.6.3.3 India Polymer Clay Market by Application
10.3.6.4 Japan Polymer Clay Market
10.3.6.4.1 Japan Polymer Clay Market by Form
10.3.6.4.2 Japan Polymer Clay Market by End-Use
10.3.6.4.3 Japan Polymer Clay Market by Application
10.3.6.5 South Korea Polymer Clay Market
10.3.6.5.1 South Korea Polymer Clay Market by Form
10.3.6.5.2 South Korea Polymer Clay Market by End-Use
10.3.6.5.3 South Korea Polymer Clay Market by Application
10.3.6.6 Rest of Asia-Pacific Polymer Clay Market
10.3.6.6.1 Rest of Asia-Pacific Polymer Clay Market by Form
10.3.6.6.2 Rest of Asia-Pacific Polymer Clay Market by End-Use
10.3.6.6.3 Rest of Asia-Pacific Polymer Clay Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Polymer Clay Market Overview
10.4.2 Middle East and Africa Polymer Clay Market Forecasts and Analysis
10.4.3 Middle East and Africa Polymer Clay Market Forecasts and Analysis - By Form
10.4.4 Middle East and Africa Polymer Clay Market Forecasts and Analysis - By End-Use
10.4.5 Middle East and Africa Polymer Clay Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Polymer Clay Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Polymer Clay Market
10.4.6.1.1 South Africa Polymer Clay Market by Form
10.4.6.1.2 South Africa Polymer Clay Market by End-Use
10.4.6.1.3 South Africa Polymer Clay Market by Application
10.4.6.2 Saudi Arabia Polymer Clay Market
10.4.6.2.1 Saudi Arabia Polymer Clay Market by Form
10.4.6.2.2 Saudi Arabia Polymer Clay Market by End-Use
10.4.6.2.3 Saudi Arabia Polymer Clay Market by Application
10.4.6.3 U.A.E Polymer Clay Market
10.4.6.3.1 U.A.E Polymer Clay Market by Form
10.4.6.3.2 U.A.E Polymer Clay Market by End-Use
10.4.6.3.3 U.A.E Polymer Clay Market by Application
10.4.6.4 Rest of Middle East and Africa Polymer Clay Market
10.4.6.4.1 Rest of Middle East and Africa Polymer Clay Market by Form
10.4.6.4.2 Rest of Middle East and Africa Polymer Clay Market by End-Use
10.4.6.4.3 Rest of Middle East and Africa Polymer Clay Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Polymer Clay Market Overview
10.5.2 South and Central America Polymer Clay Market Forecasts and Analysis
10.5.3 South and Central America Polymer Clay Market Forecasts and Analysis - By Form
10.5.4 South and Central America Polymer Clay Market Forecasts and Analysis - By End-Use
10.5.5 South and Central America Polymer Clay Market Forecasts and Analysis - By Application
10.5.6 South and Central America Polymer Clay Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Polymer Clay Market
10.5.6.1.1 Brazil Polymer Clay Market by Form
10.5.6.1.2 Brazil Polymer Clay Market by End-Use
10.5.6.1.3 Brazil Polymer Clay Market by Application
10.5.6.2 Argentina Polymer Clay Market
10.5.6.2.1 Argentina Polymer Clay Market by Form
10.5.6.2.2 Argentina Polymer Clay Market by End-Use
10.5.6.2.3 Argentina Polymer Clay Market by Application
10.5.6.3 Rest of South and Central America Polymer Clay Market
10.5.6.3.1 Rest of South and Central America Polymer Clay Market by Form
10.5.6.3.2 Rest of South and Central America Polymer Clay Market by End-Use
10.5.6.3.3 Rest of South and Central America Polymer Clay 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. POLYMER CLAY MARKET, KEY COMPANY PROFILES
12.1. AMERICAN ART CLAY CO, INC.
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. CRAFT POLYMERS.
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. KATO POLYCLAY
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. LEVINE LEICHTMAN CAPITAL PARTNERS.
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. POLYFORM PRODUCTS COMPANY
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. SILVERPETAL
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. STAEDTLER MARS GMBH AND CO. KG
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. THE CLAY AND PAINT FACTORY
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. VAN AKEN INTERNATIONAL
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. VIVA DECOR GMBH
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. AMERICAN ART CLAY CO, INC.
2. Craft Polymers.
3. Kato Polyclay
4. LEVINE LEICHTMAN CAPITAL PARTNERS.
5. Polyform Products Company
6. Silverpetal
7. STAEDTLER Mars GmbH and Co. KG
8. The Clay and Paint Factory
9. VAN AKEN INTERNATIONAL
10. Viva Decor GmbH
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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