Polypropylene Nonwoven Fabrics Market Scope 2031
The polypropylene nonwoven fabrics market size is projected to reach US$ 62.47 billion by 2031 from US$ 40.88 billion in 2023. The market is expected to register a CAGR of 6.0% in 2023–2031. The growing demand from application sectors, including agriculture and construction, is likely to remain a key polypropylene nonwoven fabrics market trends.
Polypropylene Nonwoven Fabrics Market Analysis
The growing demand in the geotextile sector has significantly driven the polypropylene nonwoven fabric market growth. Geotextiles are crucial in civil engineering and construction projects, serving purposes such as erosion control, soil stabilization, and drainage. These fabrics ' essential properties, such as strength, permeability, and resistance to environmental factors, make them a preferred material for geotextile applications. With a rising number of infrastructure development projects, there is a growing need for reliable and durable materials to improve the longevity and stability of structures. Polypropylene nonwoven fabrics also provide efficient separation of soil layers, offer reinforcement in areas with unstable ground, and prevent erosion. These fabrics are also lightweight, which contributes to easier installation and handling in geotextile applications. This helps to reduce labor and transportation costs. In addition, these fabrics also show excellent resistance to chemicals and biological degradation. This ensures long-lasting performance in different environmental conditions.
Polypropylene Nonwoven Fabrics Market Overview
Polypropylene nonwoven fabrics strongly resist liquids and contaminants, making them ideal for applications in medical textiles and hygiene products. These fabrics are also extensively used for manufacturing surgical gowns, masks, and drapes in the medical sector. The strength of polypropylene ensures the durability of nonwoven fabrics. This provides protection to healthcare professionals and patients during medical applications. Furthermore, the breathability of polypropylene nonwoven fabrics is important in ensuring comfort, which allows air moisture to pass through while maintaining a protective barrier against microorganisms. The unique characteristics of polypropylene nonwoven fabric benefit various hygiene products such as diapers and sanitary napkins. The polypropylene nonwoven fabric's softness, moisture resistance, and comfort make it a perfect choice for these applications. The material's versatility allows the creation of highly absorbent and comfortable products for extended use.
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Polypropylene Nonwoven Fabrics Market: Strategic Insights
Market Size Value in US$ 36.9 billion in 2022 Market Size Value by US$ 58.9 billion by 2030 Growth rate CAGR of 6.0% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Polypropylene Nonwoven Fabrics Market: Strategic Insights
| Market Size Value in | US$ 36.9 billion in 2022 |
| Market Size Value by | US$ 58.9 billion by 2030 |
| Growth rate | CAGR of 6.0% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Polypropylene Nonwoven Fabrics Market Drivers and Opportunities
Surging Demand for Automotive Industry Bolsters Polypropylene Nonwoven Fabrics Market Growth
The flexibility of these fabrics makes them compatible with numerous automotive applications. Polypropylene nonwoven fabrics are widely used in components such as carpeting, upholstery, and insulation materials in the interior of vehicles. The moldability of these fabrics allows them to create complex designs and customized interior features, providing automotive manufacturers with a flexible and cost-effective solution. Additionally, the growing emphasis of the automotive industry on sustainability aligns with the eco-friendly characteristics of polypropylene nonwoven fabrics. These fabrics also offer recyclability and energy-efficient alternatives to traditional materials. The increasing adoption of environmentally conscious practices has propelled the demand for these fabrics. Moreover, the growing adoption of electric vehicles (EVs) also bolstered the growth of the market. The rising need for lightweighting to improve fuel and energy efficiency has also bolstered the demand for these fabrics due to their lightweight properties.
Increasing Adoption from Construction and Agriculture Industries
The unique properties of polypropylene nonwoven fabrics that address specific needs in the construction and agriculture industries are the significant growth drivers of the market. These fabrics are widely used in geotextile applications in the construction sector. They are widely used in erosion control, soil stabilization, and drainage systems. Their ability to provide reinforcement, filtration, and separation in various construction projects contributes to the growing popularity of polypropylene nonwoven fabrics. These fabrics help to improve the structural integrity of roads, dams, and other civil engineering projects, making them an essential component in modern construction practices.
Further, these fabrics play a significant role in crop protection and management in agriculture. Polypropylene nonwoven fabrics are extensively used as crop covers to shield plants from pests, adverse weather conditions, and UV radiation. The porous nature of these fabrics allows air, sunlight, and moisture to reach the plants and provides a protective barrier against external elements such as pests. Moreover, the demand for polypropylene nonwoven fabrics has significantly increased with the growing popularity of sustainable alternatives to chemical-based herbicides in weed control applications.
Polypropylene Nonwoven Fabrics Market Report Segmentation Analysis
Key segments that contributed to the derivation of the polypropylene nonwoven fabrics market analysis are material and application.
- Based on the type, the market is segmented into spunbond, staples, meltblown, and composite. The spunbond segment held a larger market share in 2023.
- In terms of application, the market is segmented into hygiene, medical, geotextiles, automotive, construction, agriculture, and others. The hygiene segment held the largest share of the market in 2023.
Polypropylene Nonwoven Fabrics Market Share Analysis by Geography
The geographic scope of the Polypropylene Nonwoven Fabrics Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
As industries expand, there is an increased demand for these fabrics in applications ranging from hygiene products and medical textiles to geotextiles and automotive components. The region's thriving manufacturing sector and growing population further propel the need for these versatile materials. Cost competitiveness is another crucial factor. The Asia Pacific region is known for its cost-effective manufacturing capabilities, driven by factors such as lower labor costs and efficient production processes. This cost advantage positions manufacturers in the region to produce polypropylene nonwoven fabrics at competitive prices, meeting the demands of both domestic and international markets. These factors are driving the growth of the Asia Pacific polypropylene nonwoven fabrics market.
Polypropylene Nonwoven Fabrics Market Report Scope
Polypropylene Nonwoven Fabrics Market News and Recent Developments
The polypropylene nonwoven fabrics market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for polypropylene nonwoven fabrics and strategies:
- Toray Industries, Inc., announced today that it has created a spunbond nonwoven fabric that is persistently hydrophilic (see glossary note 1) and is gentle on the skin. This fabric is suitable for disposable diapers, masks, feminine hygiene products, and other sanitary applications. The company plans to start full-scale production when the production technology is well established. (Source: Toray Industries, Inc., Press Release, 2022)
Polypropylene Nonwoven Fabrics Market Report Coverage and Deliverables
The "Polypropylene Nonwoven Fabrics Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed Porter's Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
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 (PP) Nonwoven Fabrics Market - By Product
1.3.2 Polypropylene (PP) Nonwoven Fabrics Market - By Application
1.3.3 Polypropylene (PP) Nonwoven Fabrics Market - By Region
1.3.3.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. POLYPROPYLENE (PP) NONWOVEN FABRICS 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 (PP) NONWOVEN FABRICS 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 (PP) NONWOVEN FABRICS MARKET - GLOBAL MARKET ANALYSIS
6.1. POLYPROPYLENE (PP) NONWOVEN FABRICS - GLOBAL MARKET OVERVIEW
6.2. POLYPROPYLENE (PP) NONWOVEN FABRICS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. POLYPROPYLENE (PP) NONWOVEN FABRICS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. SPUNBONDED
7.3.1. Overview
7.3.2. Spunbonded Market Forecast and Analysis
7.4. STAPLES
7.4.1. Overview
7.4.2. Staples Market Forecast and Analysis
7.5. MELTBLOWN
7.5.1. Overview
7.5.2. Meltblown Market Forecast and Analysis
7.6. COMPOSITE
7.6.1. Overview
7.6.2. Composite Market Forecast and Analysis
8. POLYPROPYLENE (PP) NONWOVEN FABRICS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. HYGIENE
8.3.1. Overview
8.3.2. Hygiene Market Forecast and Analysis
8.4. INDUSTRIAL
8.4.1. Overview
8.4.2. Industrial Market Forecast and Analysis
8.5. MEDICAL
8.5.1. Overview
8.5.2. Medical Market Forecast and Analysis
8.6. GEOTEXTILES
8.6.1. Overview
8.6.2. Geotextiles Market Forecast and Analysis
8.7. FURNISHING
8.7.1. Overview
8.7.2. Furnishing Market Forecast and Analysis
8.8. CARPET
8.8.1. Overview
8.8.2. Carpet Market Forecast and Analysis
8.9. AGRICULTURE
8.9.1. Overview
8.9.2. Agriculture Market Forecast and Analysis
8.10. AUTOMOTIVE
8.10.1. Overview
8.10.2. Automotive Market Forecast and Analysis
8.11. OTHERS
8.11.1. Overview
8.11.2. Others Market Forecast and Analysis
9. POLYPROPYLENE (PP) NONWOVEN FABRICS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Polypropylene (PP) Nonwoven Fabrics Market Overview
9.1.2 North America Polypropylene (PP) Nonwoven Fabrics Market Forecasts and Analysis
9.1.3 North America Polypropylene (PP) Nonwoven Fabrics Market Forecasts and Analysis - By Product
9.1.4 North America Polypropylene (PP) Nonwoven Fabrics Market Forecasts and Analysis - By Application
9.1.5 North America Polypropylene (PP) Nonwoven Fabrics Market Forecasts and Analysis - By Countries
9.1.5.1 United States Polypropylene (PP) Nonwoven Fabrics Market
9.1.5.1.1 United States Polypropylene (PP) Nonwoven Fabrics Market by Product
9.1.5.1.2 United States Polypropylene (PP) Nonwoven Fabrics Market by Application
9.1.5.2 Canada Polypropylene (PP) Nonwoven Fabrics Market
9.1.5.2.1 Canada Polypropylene (PP) Nonwoven Fabrics Market by Product
9.1.5.2.2 Canada Polypropylene (PP) Nonwoven Fabrics Market by Application
9.1.5.3 Mexico Polypropylene (PP) Nonwoven Fabrics Market
9.1.5.3.1 Mexico Polypropylene (PP) Nonwoven Fabrics Market by Product
9.1.5.3.2 Mexico Polypropylene (PP) Nonwoven Fabrics Market by Application
9.2. EUROPE
9.2.1 Europe Polypropylene (PP) Nonwoven Fabrics Market Overview
9.2.2 Europe Polypropylene (PP) Nonwoven Fabrics Market Forecasts and Analysis
9.2.3 Europe Polypropylene (PP) Nonwoven Fabrics Market Forecasts and Analysis - By Product
9.2.4 Europe Polypropylene (PP) Nonwoven Fabrics Market Forecasts and Analysis - By Application
9.2.5 Europe Polypropylene (PP) Nonwoven Fabrics Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Polypropylene (PP) Nonwoven Fabrics Market
9.2.5.1.1 Germany Polypropylene (PP) Nonwoven Fabrics Market by Product
9.2.5.1.2 Germany Polypropylene (PP) Nonwoven Fabrics Market by Application
9.2.5.2 France Polypropylene (PP) Nonwoven Fabrics Market
9.2.5.2.1 France Polypropylene (PP) Nonwoven Fabrics Market by Product
9.2.5.2.2 France Polypropylene (PP) Nonwoven Fabrics Market by Application
9.2.5.3 Italy Polypropylene (PP) Nonwoven Fabrics Market
9.2.5.3.1 Italy Polypropylene (PP) Nonwoven Fabrics Market by Product
9.2.5.3.2 Italy Polypropylene (PP) Nonwoven Fabrics Market by Application
9.2.5.4 United Kingdom Polypropylene (PP) Nonwoven Fabrics Market
9.2.5.4.1 United Kingdom Polypropylene (PP) Nonwoven Fabrics Market by Product
9.2.5.4.2 United Kingdom Polypropylene (PP) Nonwoven Fabrics Market by Application
9.2.5.5 Russia Polypropylene (PP) Nonwoven Fabrics Market
9.2.5.5.1 Russia Polypropylene (PP) Nonwoven Fabrics Market by Product
9.2.5.5.2 Russia Polypropylene (PP) Nonwoven Fabrics Market by Application
9.2.5.6 Rest of Europe Polypropylene (PP) Nonwoven Fabrics Market
9.2.5.6.1 Rest of Europe Polypropylene (PP) Nonwoven Fabrics Market by Product
9.2.5.6.2 Rest of Europe Polypropylene (PP) Nonwoven Fabrics Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Polypropylene (PP) Nonwoven Fabrics Market Overview
9.3.2 Asia-Pacific Polypropylene (PP) Nonwoven Fabrics Market Forecasts and Analysis
9.3.3 Asia-Pacific Polypropylene (PP) Nonwoven Fabrics Market Forecasts and Analysis - By Product
9.3.4 Asia-Pacific Polypropylene (PP) Nonwoven Fabrics Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Polypropylene (PP) Nonwoven Fabrics Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Polypropylene (PP) Nonwoven Fabrics Market
9.3.5.1.1 Australia Polypropylene (PP) Nonwoven Fabrics Market by Product
9.3.5.1.2 Australia Polypropylene (PP) Nonwoven Fabrics Market by Application
9.3.5.2 China Polypropylene (PP) Nonwoven Fabrics Market
9.3.5.2.1 China Polypropylene (PP) Nonwoven Fabrics Market by Product
9.3.5.2.2 China Polypropylene (PP) Nonwoven Fabrics Market by Application
9.3.5.3 India Polypropylene (PP) Nonwoven Fabrics Market
9.3.5.3.1 India Polypropylene (PP) Nonwoven Fabrics Market by Product
9.3.5.3.2 India Polypropylene (PP) Nonwoven Fabrics Market by Application
9.3.5.4 Japan Polypropylene (PP) Nonwoven Fabrics Market
9.3.5.4.1 Japan Polypropylene (PP) Nonwoven Fabrics Market by Product
9.3.5.4.2 Japan Polypropylene (PP) Nonwoven Fabrics Market by Application
9.3.5.5 South Korea Polypropylene (PP) Nonwoven Fabrics Market
9.3.5.5.1 South Korea Polypropylene (PP) Nonwoven Fabrics Market by Product
9.3.5.5.2 South Korea Polypropylene (PP) Nonwoven Fabrics Market by Application
9.3.5.6 Rest of Asia-Pacific Polypropylene (PP) Nonwoven Fabrics Market
9.3.5.6.1 Rest of Asia-Pacific Polypropylene (PP) Nonwoven Fabrics Market by Product
9.3.5.6.2 Rest of Asia-Pacific Polypropylene (PP) Nonwoven Fabrics Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Polypropylene (PP) Nonwoven Fabrics Market Overview
9.4.2 Middle East and Africa Polypropylene (PP) Nonwoven Fabrics Market Forecasts and Analysis
9.4.3 Middle East and Africa Polypropylene (PP) Nonwoven Fabrics Market Forecasts and Analysis - By Product
9.4.4 Middle East and Africa Polypropylene (PP) Nonwoven Fabrics Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Polypropylene (PP) Nonwoven Fabrics Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Polypropylene (PP) Nonwoven Fabrics Market
9.4.5.1.1 South Africa Polypropylene (PP) Nonwoven Fabrics Market by Product
9.4.5.1.2 South Africa Polypropylene (PP) Nonwoven Fabrics Market by Application
9.4.5.2 Saudi Arabia Polypropylene (PP) Nonwoven Fabrics Market
9.4.5.2.1 Saudi Arabia Polypropylene (PP) Nonwoven Fabrics Market by Product
9.4.5.2.2 Saudi Arabia Polypropylene (PP) Nonwoven Fabrics Market by Application
9.4.5.3 U.A.E Polypropylene (PP) Nonwoven Fabrics Market
9.4.5.3.1 U.A.E Polypropylene (PP) Nonwoven Fabrics Market by Product
9.4.5.3.2 U.A.E Polypropylene (PP) Nonwoven Fabrics Market by Application
9.4.5.4 Rest of Middle East and Africa Polypropylene (PP) Nonwoven Fabrics Market
9.4.5.4.1 Rest of Middle East and Africa Polypropylene (PP) Nonwoven Fabrics Market by Product
9.4.5.4.2 Rest of Middle East and Africa Polypropylene (PP) Nonwoven Fabrics Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Polypropylene (PP) Nonwoven Fabrics Market Overview
9.5.2 South and Central America Polypropylene (PP) Nonwoven Fabrics Market Forecasts and Analysis
9.5.3 South and Central America Polypropylene (PP) Nonwoven Fabrics Market Forecasts and Analysis - By Product
9.5.4 South and Central America Polypropylene (PP) Nonwoven Fabrics Market Forecasts and Analysis - By Application
9.5.5 South and Central America Polypropylene (PP) Nonwoven Fabrics Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Polypropylene (PP) Nonwoven Fabrics Market
9.5.5.1.1 Brazil Polypropylene (PP) Nonwoven Fabrics Market by Product
9.5.5.1.2 Brazil Polypropylene (PP) Nonwoven Fabrics Market by Application
9.5.5.2 Argentina Polypropylene (PP) Nonwoven Fabrics Market
9.5.5.2.1 Argentina Polypropylene (PP) Nonwoven Fabrics Market by Product
9.5.5.2.2 Argentina Polypropylene (PP) Nonwoven Fabrics Market by Application
9.5.5.3 Rest of South and Central America Polypropylene (PP) Nonwoven Fabrics Market
9.5.5.3.1 Rest of South and Central America Polypropylene (PP) Nonwoven Fabrics Market by Product
9.5.5.3.2 Rest of South and Central America Polypropylene (PP) Nonwoven Fabrics Market by Application
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. POLYPROPYLENE (PP) NONWOVEN FABRICS MARKET, KEY COMPANY PROFILES
11.1. AHLSTROM-MUNKSJö OYJ
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. ASAHI KASEI CORPORATION
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. AVGOL INDUSTRIES 1953 LTD
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. BERRY GLOBAL INC.
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. FITESA
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. JOHNS MANVILLE CORPORATION
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. LOW AND BONAR PLC
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. SUOMINEN CORPORATION
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. THE FREUDENBERG GROUP
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
11.10. TORAY INDUSTRIES, INC.
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
1. Ahlstrom-Munksjo Oyj
2. Asahi Kasei Corporation
3. Avgol Industries 1953 Ltd
4. Berry Global Inc.
5. Fitesa
6. Johns Manville Corporation
7. Low and Bonar PLC
8. Suominen Corporation
9. The Freudenberg Group
10. Toray Industries, Inc.
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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