Polypropylene Market 2021-2031: Market Share and Forecast
The Polypropylene Market is expected to register a CAGR of 4% from 2023 to 2031, with a market size expanding from US$ XX Million in 2023 to US$ XX Million by 2031.
The polypropylene market report is segmented by polymer type (homopolymer and copolymer). The market is segmented based on process (injection molding, blow molding, extrusion molding, and others). The market is segmented based on application ( fiber, films and sheets, and others). The market is segmented based on end-use industry (packaging, automotive, consumer products, electrical and electronics, construction, medical and others). 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 Polypropylene 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.
Polypropylene Market Segmentation
Polymer Type- Homopolymer and Copolymer
- Injection Molding
- Blow Molding
- Extrusion Molding
- Fiber
- Films and Sheets
- 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
Polypropylene Market Growth Drivers- Growing Demand for Polypropylene in Global Packaging: Polypropylene demand is driven mostly through the global packaging industry, and the major consumer segment is food and beverage. Polypropylene is widely believed to be one of the most commonly used raw materials in the making of packaging materials such as films, containers, and bottles, due to its really good chemical resistance properties, moisture barrier properties, and food maintenance properties. Increased consumption at the global level, urbanization, and e-commerce have further raised the demand for energy-efficient and sustainable packaging. The trend of recyclable and biodegradable packaging, "green packaging," such as PP packaging, is also witnessing a demand boost in this booming economy.
- Polypropylene's Role in Lightweight, Durable, and Sustainable Materials: A growing demand for lightweight, durable and versatile materials for various industries has been a considerable driver for the polypropylene market. Polypropylene (PP) is quite popular for vehicular applications, packaging, consumer goods, and textiles. Because of the high strength-to-weight ratio and durability properties, PP is superb in automotive manufacturing for reducing vehicle weight, which is essential for fuel efficiency and lower emissions. This introduces a continued rise in demand for polypropylene focusing on lightweight materials since the future trend is directed toward industries minimizing environmental-related impacts.
- Environmental Awareness Boosts Polypropylene's Sustainability and Recycling Potential: Increased environmental awareness has created fresh momentum for the promotion of sustainability, especially in the plastics sector. Polypropylene is being embraced as a recyclable polymer, and thus, more available to actually be an alternative for the sustainable use of plastics. Governments and other regulatory bodies have stiffened toxicity and waste management existing infrastructures and initiated more recycling. This also pushes the use of polypropylene in those goods that can be recycled. It creates the increasing demand for the polymer in primary production and recycling markets because global issues regarding plastic waste and continuous improvements in polypropylene recycling technologies are resulting.
- Rising Demand for Biopolypropylene: An emerging main trend in the polypropylene market will be the manufacture of biopolypropylene from renewable rather than fossil resources. Its properties are the same as those of normal polypropylene, but with a reduced environmental load. The trend toward increased usage of plastic materials is now accompanied by increasing sustainability and demand for bio-based plastics, among which biopolypropylene is an important growth area in applications such as packaging, automotive parts, and textiles. This sector is likely to be boosted further with the important movements by companies and governments toward preventing carbon emissions at net-zero and increasing the integration of renewable resources into their material supplies.
- Advances in Polypropylene Recycling: For polypropylene recycling, the immediate future seems into new promises of more efficient and cheaper processes, which new technologies will make possible. Waste plastic recycling has been transformed through new chemical recycling processes, such as pyrolysis and depolymerization, where, among others, mixed plastics are recycled into virgin level raw materials and reused to manufacture new products. Thus, as recycling becomes cheaper and more widely available, the future market for polypropylene will see quite a huge increase in demand for recycled PP, especially from those industries getting more interested in the use of recycled content, such as packaging, automotive, or construction.
- Polypropylene's Expanding Role in Medical and Healthcare Applications: They are used increasingly in new medical and health applications. This polymer is now being put to use in parts of medical devices, surgical products, and health care packaging because of its high resistance in regard to many chemicals, biocompatibility, and sterilizability. Polypropylene might grow with the international healthcare growth and eventually new innovations in medical technology. Usage has shown that there is increased demand in the industrial health care sector and due focus on COVID 19, which shows the importance of safe and sanitary medical products, thereby adding more impetus to the adoption of polypropylene for such applications.
- Emerging Markets Drive Global Polypropylene Demand: The emerging markets in the Asia and Pacific region; Latin America; and Africa are providing considerable growth areas for polypropylene. All these regions are becoming rapidly industrialized, highly urbanized and have exponential population growths, which all result in increased demand for polypropylene in a wide range of applications, including packaging, automobiles, and textiles. As disposable incomes grow, consumers will demand packaged and durable products and, therefore, manufacturers can be positioned to take advantage of this market boom in expanding polypropylene markets through investments such as establishing local manufacturing facilities and focusing local supply chains.
- Rising Demand for Sustainable Packaging: The need for sustainable packaging has arguably opened a huge market opportunity for polypropylene. Polypropylene is an excellent polymer for producing green packaging because of its ability to recycle and its durability. However, with increasing consumer awareness and pressure from regulatory bodies for sustainable practices, companies are spending on making recyclable and compost-able PP packaging. Innovations in mono-material packaging, mainly made out of polypropylene or any other environmentally sustainable mate materials, offer an opportunity to produce functional and environmentally friendly packaging solutions. Companies investing in sustainable PP packaging solutions could differentiate themselves from other players in the market and take advantage of this rising revolution towards the circular economies and eco-friendliness.
- Polypropylene's Growing Role in Automotive Lightweighting and Electric Vehicles: Another possibility for the application of polypropylene in automotive lightweighting is getting more ground with the shift of the automobile industry into electric vehicles and enhancements in fuel economy. Its low density, very strong, and highly impact-resistant makes it one of the most valuable candidates for lightweighting applications in vehicles to achieve better fuel economy and emission reduction. As several automobile manufacturers work in the line of weight-efficient, energy-efficient vehicles, which will call for more applications of polypropylene in interior components, bumpers, and battery casings in this case, so would the penetration of polypropylene use in automotive applications be increased. And as global calls for more sustainable and fuel-efficient transportation keep soaring, so will rise the demand of polypropylene in automotive manufacturing.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Polypropylene 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 Polypropylene 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 Polypropylene Market is estimated to witness a CAGR of 4% from 2023 to 2031
Increasing demand for lightweight and durable materials are driving the market growth.
Reliance Industries Limited, BASF SE, China Petrochemical Corporation , Eastman Chemical Company , Exxon Mobil Corporation , INEOS, LG Chem, SABIC, LyondellBasell Industries Holdings B.V. , and Lotte Chemical UK LTD are the key players operating in the polypropylene market.
Based on end-use industry, the construction segment is expected to witness the fastest growth during the forecast period.
Based on geography, Asia Pacific held the largest share of the polypropylene market due to the strong growth of the automotive and construction industries in the region.
Rise of Biopolypropylene is expected to be the key market trends.
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 Polypropylene Market - By Type
1.3.2 Polypropylene Market - By Application
1.3.3 Polypropylene Market - By End User Industry
1.3.4 Polypropylene Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. POLYPROPYLENE 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. POLYPROPYLENE 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. POLYPROPYLENE MARKET - GLOBAL MARKET ANALYSIS
6.1. POLYPROPYLENE - GLOBAL MARKET OVERVIEW
6.2. POLYPROPYLENE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. POLYPROPYLENE MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. HOMOPOLYMER
7.3.1. Overview
7.3.2. Homopolymer Market Forecast and Analysis
7.4. COPOLYMER
7.4.1. Overview
7.4.2. Copolymer Market Forecast and Analysis
7.5. OTHERS
7.5.1. Overview
7.5.2. Others Market Forecast and Analysis
8. POLYPROPYLENE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. INJECTION MOLDING
8.3.1. Overview
8.3.2. Injection Molding Market Forecast and Analysis
8.4. FIBER AND RAFFIA
8.4.1. Overview
8.4.2. Fiber and Raffia Market Forecast and Analysis
8.5. FILM AND SHEET
8.5.1. Overview
8.5.2. Film and Sheet Market Forecast and Analysis
8.6. BLOW MOLDING
8.6.1. Overview
8.6.2. Blow Molding Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. POLYPROPYLENE MARKET - REVENUE AND FORECASTS TO 2028 - END USER INDUSTRY
9.1. OVERVIEW
9.2. END USER INDUSTRY MARKET FORECASTS AND ANALYSIS
9.3. PACKAGING
9.3.1. Overview
9.3.2. Packaging Market Forecast and Analysis
9.4. AUTOMOTIVE
9.4.1. Overview
9.4.2. Automotive Market Forecast and Analysis
9.5. BUILDING AND CONSTRUCTION
9.5.1. Overview
9.5.2. Building and Construction Market Forecast and Analysis
9.6. MEDICAL
9.6.1. Overview
9.6.2. Medical Market Forecast and Analysis
9.7. ELECTRICAL AND ELECTRONICS
9.7.1. Overview
9.7.2. Electrical and Electronics Market Forecast and Analysis
9.8. OTHERS
9.8.1. Overview
9.8.2. Others Market Forecast and Analysis
10. POLYPROPYLENE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Polypropylene Market Overview
10.1.2 North America Polypropylene Market Forecasts and Analysis
10.1.3 North America Polypropylene Market Forecasts and Analysis - By Type
10.1.4 North America Polypropylene Market Forecasts and Analysis - By Application
10.1.5 North America Polypropylene Market Forecasts and Analysis - By End User Industry
10.1.6 North America Polypropylene Market Forecasts and Analysis - By Countries
10.1.6.1 Canada Polypropylene Market
10.1.6.1.1 Canada Polypropylene Market by Type
10.1.6.1.2 Canada Polypropylene Market by Application
10.1.6.1.3 Canada Polypropylene Market by End User Industry
10.1.6.2 Mexico Polypropylene Market
10.1.6.2.1 Mexico Polypropylene Market by Type
10.1.6.2.2 Mexico Polypropylene Market by Application
10.1.6.2.3 Mexico Polypropylene Market by End User Industry
10.1.6.3 US Polypropylene Market
10.1.6.3.1 US Polypropylene Market by Type
10.1.6.3.2 US Polypropylene Market by Application
10.1.6.3.3 US Polypropylene Market by End User Industry
10.2. EUROPE
10.2.1 Europe Polypropylene Market Overview
10.2.2 Europe Polypropylene Market Forecasts and Analysis
10.2.3 Europe Polypropylene Market Forecasts and Analysis - By Type
10.2.4 Europe Polypropylene Market Forecasts and Analysis - By Application
10.2.5 Europe Polypropylene Market Forecasts and Analysis - By End User Industry
10.2.6 Europe Polypropylene Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Polypropylene Market
10.2.6.1.1 Germany Polypropylene Market by Type
10.2.6.1.2 Germany Polypropylene Market by Application
10.2.6.1.3 Germany Polypropylene Market by End User Industry
10.2.6.2 France Polypropylene Market
10.2.6.2.1 France Polypropylene Market by Type
10.2.6.2.2 France Polypropylene Market by Application
10.2.6.2.3 France Polypropylene Market by End User Industry
10.2.6.3 Italy Polypropylene Market
10.2.6.3.1 Italy Polypropylene Market by Type
10.2.6.3.2 Italy Polypropylene Market by Application
10.2.6.3.3 Italy Polypropylene Market by End User Industry
10.2.6.4 United Kingdom Polypropylene Market
10.2.6.4.1 United Kingdom Polypropylene Market by Type
10.2.6.4.2 United Kingdom Polypropylene Market by Application
10.2.6.4.3 United Kingdom Polypropylene Market by End User Industry
10.2.6.5 Russia Polypropylene Market
10.2.6.5.1 Russia Polypropylene Market by Type
10.2.6.5.2 Russia Polypropylene Market by Application
10.2.6.5.3 Russia Polypropylene Market by End User Industry
10.2.6.6 Rest of Europe Polypropylene Market
10.2.6.6.1 Rest of Europe Polypropylene Market by Type
10.2.6.6.2 Rest of Europe Polypropylene Market by Application
10.2.6.6.3 Rest of Europe Polypropylene Market by End User Industry
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Polypropylene Market Overview
10.3.2 Asia-Pacific Polypropylene Market Forecasts and Analysis
10.3.3 Asia-Pacific Polypropylene Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Polypropylene Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Polypropylene Market Forecasts and Analysis - By End User Industry
10.3.6 Asia-Pacific Polypropylene Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Polypropylene Market
10.3.6.1.1 Australia Polypropylene Market by Type
10.3.6.1.2 Australia Polypropylene Market by Application
10.3.6.1.3 Australia Polypropylene Market by End User Industry
10.3.6.2 China Polypropylene Market
10.3.6.2.1 China Polypropylene Market by Type
10.3.6.2.2 China Polypropylene Market by Application
10.3.6.2.3 China Polypropylene Market by End User Industry
10.3.6.3 India Polypropylene Market
10.3.6.3.1 India Polypropylene Market by Type
10.3.6.3.2 India Polypropylene Market by Application
10.3.6.3.3 India Polypropylene Market by End User Industry
10.3.6.4 Japan Polypropylene Market
10.3.6.4.1 Japan Polypropylene Market by Type
10.3.6.4.2 Japan Polypropylene Market by Application
10.3.6.4.3 Japan Polypropylene Market by End User Industry
10.3.6.5 South Korea Polypropylene Market
10.3.6.5.1 South Korea Polypropylene Market by Type
10.3.6.5.2 South Korea Polypropylene Market by Application
10.3.6.5.3 South Korea Polypropylene Market by End User Industry
10.3.6.6 Rest of Asia-Pacific Polypropylene Market
10.3.6.6.1 Rest of Asia-Pacific Polypropylene Market by Type
10.3.6.6.2 Rest of Asia-Pacific Polypropylene Market by Application
10.3.6.6.3 Rest of Asia-Pacific Polypropylene Market by End User Industry
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Polypropylene Market Overview
10.4.2 Middle East and Africa Polypropylene Market Forecasts and Analysis
10.4.3 Middle East and Africa Polypropylene Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Polypropylene Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Polypropylene Market Forecasts and Analysis - By End User Industry
10.4.6 Middle East and Africa Polypropylene Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Polypropylene Market
10.4.6.1.1 South Africa Polypropylene Market by Type
10.4.6.1.2 South Africa Polypropylene Market by Application
10.4.6.1.3 South Africa Polypropylene Market by End User Industry
10.4.6.2 Saudi Arabia Polypropylene Market
10.4.6.2.1 Saudi Arabia Polypropylene Market by Type
10.4.6.2.2 Saudi Arabia Polypropylene Market by Application
10.4.6.2.3 Saudi Arabia Polypropylene Market by End User Industry
10.4.6.3 U.A.E Polypropylene Market
10.4.6.3.1 U.A.E Polypropylene Market by Type
10.4.6.3.2 U.A.E Polypropylene Market by Application
10.4.6.3.3 U.A.E Polypropylene Market by End User Industry
10.4.6.4 Rest of Middle East and Africa Polypropylene Market
10.4.6.4.1 Rest of Middle East and Africa Polypropylene Market by Type
10.4.6.4.2 Rest of Middle East and Africa Polypropylene Market by Application
10.4.6.4.3 Rest of Middle East and Africa Polypropylene Market by End User Industry
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Polypropylene Market Overview
10.5.2 South and Central America Polypropylene Market Forecasts and Analysis
10.5.3 South and Central America Polypropylene Market Forecasts and Analysis - By Type
10.5.4 South and Central America Polypropylene Market Forecasts and Analysis - By Application
10.5.5 South and Central America Polypropylene Market Forecasts and Analysis - By End User Industry
10.5.6 South and Central America Polypropylene Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Polypropylene Market
10.5.6.1.1 Brazil Polypropylene Market by Type
10.5.6.1.2 Brazil Polypropylene Market by Application
10.5.6.1.3 Brazil Polypropylene Market by End User Industry
10.5.6.2 Argentina Polypropylene Market
10.5.6.2.1 Argentina Polypropylene Market by Type
10.5.6.2.2 Argentina Polypropylene Market by Application
10.5.6.2.3 Argentina Polypropylene Market by End User Industry
10.5.6.3 Rest of South and Central America Polypropylene Market
10.5.6.3.1 Rest of South and Central America Polypropylene Market by Type
10.5.6.3.2 Rest of South and Central America Polypropylene Market by Application
10.5.6.3.3 Rest of South and Central America Polypropylene Market by End User Industry
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. POLYPROPYLENE MARKET, KEY COMPANY PROFILES
12.1. CHINA PETROCHEMICAL CORPORATION
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. EXXON MOBIL
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. FORMOSA PLASTICS GROUP (FPG)
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. INEOS
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. LG CHEM
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. LYONDELLBASELL INDUSTRIES HOLDINGS B.V.
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. SABIC
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. SUMITOMO CHEMICAL
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. TOTAL S.A.
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
The List of Companies
1. China Petrochemical Corporation
2. Exxon Mobil
3. Formosa Plastics Group (FPG)
4. INEOS
5. LG Chem
6. Lyondellbasell Industries Holdings B. V.
7. Reliance Industries Limited
8. SABIC
9. Sumitomo Chemical
10. Total S. A.
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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