Powder Coating Resins Market Report - (Growth and Size by 2031)
The Powder Coating Resins Market is expected to register a CAGR of 5% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Type (acrylic, vinyl, polyurethane, polyester, others). The report further presents analysis based on application (building and construction, marine, automotive, packaging, others). Global analysis is further broken-down at regional level and major countries. In terms of geography, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). The report offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Powder Coating Resins 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.
Powder Coating Resins Market Segmentation
Type- Acrylic
- Vinyl
- Polyurethane
- Polyester
- Others
- Building and Construction
- Marine
- Automotive
- Packaging
- Others
Strategic Insights
Powder Coating Resins Market Growth Drivers- Eco-Friendly Trends: The powder coating resins market is bolstered by the fact that consumers are becoming more inclined towards the purchase of eco-friendly goods. These coatings have little or no emission of volatile organic compounds (VOCs), which meets the regulatory requirements and consumer expectations for green low-emission products across different industries.
- Diverse Industry Applications: Powder coating resins find application in industries such as automotive, architecture, electronics and furniture. With these industries growing on a global scale especially in developing countries, the powder coating resins market is also growing due to the need for high quality and long lasting coatings.
- Innovation in Formulations: New and better quality powder coating resins, such as more scratch-resistant and aesthetically pleasing formulations are contributing to the growth of the global powder spraying coatings market. New improved formulations are available that can withstand extreme conditions, thereby making powder coatings more appealing for use in applications that are high demanding such as automotive parts and industrial machines.
- Societal and Political Drivers: Societal and political factors are the motivators for increased demand for water-soluble and other low VOC powder coating resins. Thus these coatings although serving their purpose with performance and durability associated with industrial applications, they offer smaller emissions and are safer.
- Aesthetic and Functional Innovation: The emphasis on making more vibrant and catchy looking powder coatings is on the upward trend. New innovations in resin technology allows the powder coatings to be more designable in industries such as automotive, furniture and appliances were aesthetics go hand in hand with performance.
- Eco-Friendly and Energy-Efficient Trends: In line with the current Industrial trends, Powder Coating Resins made from recycled materials and less energy consuming are being manufactured. The current manufacturers are more concerned about performance compared to the previous centuries and so they have developed eco-friendly formulations that reduce wastes, enhance the ability to recycle the plastics and have less toxins when making and using the products in respect to environmental friendly buildings.
- Emerging Economies Demand: Everywhere you look in the regions of Asia Pacific and Latin America where industrialization is rampant and urban settlement is on the rise, there is a more demand for long-lasting and cheaper coating solutions. This is a great opportunity for powder coating resins in the automotive, construction and household goods industries within these emerging economies.
- Green Building Growth: The growing trend for construction of green buildings is an additional opportunity for powder coating resin market growth. Thanks to their energy efficient and environmentally sustainable nature, such coatings that conform to low VOCs and green standards are more and more used in the specification of building features such as windows, doors and facades.
- Automotive Industry Expansion: The expanding automotive industry, especially with the advent of electric vehicles (EVs), presents vast potential for the powder coating resins market. These coatings are hard wearing, can resist corrosion and are aesthetically pleasing that automotive components and interiors made from them are no longer heavy as the manufacturers are focusing on affordable and durable solutions.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Powder Coating Resins 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 Powder Coating Resins 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![World Geography](https://www.theinsightpartners.com/assets/rdimages/world-geography.png)
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- Request discounts available for Start-Ups & Universities
![Report Coverage](https://www.theinsightpartners.com/assets/rdimages/report_coverage.png)
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
![Segment Covered](https://www.theinsightpartners.com/assets/rdimages/segment_covered.png)
Segment Covered
This text is related
to segments covered.
![Regional Scope](https://www.theinsightpartners.com/assets/rdimages/regional_scope.png)
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
![Country Scope](https://www.theinsightpartners.com/assets/rdimages/country_scope.png)
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
Based on geography, North America held the largest share of the powder coating resins market.
BASF SE, Evonik Industries AG, Arkema, Covestro, Allnex Netherlands B.V., The Sherwin-Williams Company, Dow Inc., Evonik Industries AG, Polynt-Reichhold, Huntsman International LLC. are the key players operating in the powder coating resins market.
The increasing demand for water-based and low-VOC powder coating resins is driven by environmental regulations and consumer preference for sustainable products acts as a key trend in the market.
Powder coating resins are widely used in automotive, architecture, electronics, and furniture industries. Thus, wide application scope drives the market growth.
The Powder Coating Resins 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 Powder Coating Resins Market - By Resin type
1.3.2 Powder Coating Resins Market - By Technology
1.3.3 Powder Coating Resins Market - By Application
1.3.4 Powder Coating Resins Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. POWDER COATING RESINS 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. POWDER COATING RESINS 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. POWDER COATING RESINS MARKET - GLOBAL MARKET ANALYSIS
6.1. POWDER COATING RESINS - GLOBAL MARKET OVERVIEW
6.2. POWDER COATING RESINS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. POWDER COATING RESINS MARKET - REVENUE AND FORECASTS TO 2028 - RESIN TYPE
7.1. OVERVIEW
7.2. RESIN TYPE MARKET FORECASTS AND ANALYSIS
7.3. ACRYLIC
7.3.1. Overview
7.3.2. Acrylic Market Forecast and Analysis
7.4. VINYL
7.4.1. Overview
7.4.2. Vinyl Market Forecast and Analysis
7.5. POLYURETHANE
7.5.1. Overview
7.5.2. Polyurethane Market Forecast and Analysis
7.6. UNSATURATED POLYESTER
7.6.1. Overview
7.6.2. Unsaturated polyester Market Forecast and Analysis
7.7. SATURATED POLYESTER
7.7.1. Overview
7.7.2. Saturated polyester Market Forecast and Analysis
7.8. OTHER
7.8.1. Overview
7.8.2. Other Market Forecast and Analysis
8. POWDER COATING RESINS MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
8.1. OVERVIEW
8.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
8.3. WATERBORNE COATINGS
8.3.1. Overview
8.3.2. Waterborne coatings Market Forecast and Analysis
8.4. SOLVENT-BORNE COATINGS
8.4.1. Overview
8.4.2. Solvent-borne coatings Market Forecast and Analysis
8.5. POWDER COATINGS
8.5.1. Overview
8.5.2. Powder coatings Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. POWDER COATING RESINS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. ARCHITECTURAL COATINGS
9.3.1. Overview
9.3.2. Architectural coatings Market Forecast and Analysis
9.4. MARINE AND PROTECTIVE COATINGS
9.4.1. Overview
9.4.2. Marine and protective coatings Market Forecast and Analysis
9.5. GENERAL INDUSTRIAL COATINGS
9.5.1. Overview
9.5.2. General industrial coatings Market Forecast and Analysis
9.6. AUTOMOTIVE COATINGS
9.6.1. Overview
9.6.2. Automotive coatings Market Forecast and Analysis
9.7. WOOD COATINGS
9.7.1. Overview
9.7.2. Wood coatings Market Forecast and Analysis
9.8. OTHER
9.8.1. Overview
9.8.2. Other Market Forecast and Analysis
10. POWDER COATING RESINS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Powder Coating Resins Market Overview
10.1.2 North America Powder Coating Resins Market Forecasts and Analysis
10.1.3 North America Powder Coating Resins Market Forecasts and Analysis - By Resin type
10.1.4 North America Powder Coating Resins Market Forecasts and Analysis - By Technology
10.1.5 North America Powder Coating Resins Market Forecasts and Analysis - By Application
10.1.6 North America Powder Coating Resins Market Forecasts and Analysis - By Countries
10.1.6.1 United States Powder Coating Resins Market
10.1.6.1.1 United States Powder Coating Resins Market by Resin type
10.1.6.1.2 United States Powder Coating Resins Market by Technology
10.1.6.1.3 United States Powder Coating Resins Market by Application
10.1.6.2 Canada Powder Coating Resins Market
10.1.6.2.1 Canada Powder Coating Resins Market by Resin type
10.1.6.2.2 Canada Powder Coating Resins Market by Technology
10.1.6.2.3 Canada Powder Coating Resins Market by Application
10.1.6.3 Mexico Powder Coating Resins Market
10.1.6.3.1 Mexico Powder Coating Resins Market by Resin type
10.1.6.3.2 Mexico Powder Coating Resins Market by Technology
10.1.6.3.3 Mexico Powder Coating Resins Market by Application
10.2. EUROPE
10.2.1 Europe Powder Coating Resins Market Overview
10.2.2 Europe Powder Coating Resins Market Forecasts and Analysis
10.2.3 Europe Powder Coating Resins Market Forecasts and Analysis - By Resin type
10.2.4 Europe Powder Coating Resins Market Forecasts and Analysis - By Technology
10.2.5 Europe Powder Coating Resins Market Forecasts and Analysis - By Application
10.2.6 Europe Powder Coating Resins Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Powder Coating Resins Market
10.2.6.1.1 Germany Powder Coating Resins Market by Resin type
10.2.6.1.2 Germany Powder Coating Resins Market by Technology
10.2.6.1.3 Germany Powder Coating Resins Market by Application
10.2.6.2 France Powder Coating Resins Market
10.2.6.2.1 France Powder Coating Resins Market by Resin type
10.2.6.2.2 France Powder Coating Resins Market by Technology
10.2.6.2.3 France Powder Coating Resins Market by Application
10.2.6.3 Italy Powder Coating Resins Market
10.2.6.3.1 Italy Powder Coating Resins Market by Resin type
10.2.6.3.2 Italy Powder Coating Resins Market by Technology
10.2.6.3.3 Italy Powder Coating Resins Market by Application
10.2.6.4 United Kingdom Powder Coating Resins Market
10.2.6.4.1 United Kingdom Powder Coating Resins Market by Resin type
10.2.6.4.2 United Kingdom Powder Coating Resins Market by Technology
10.2.6.4.3 United Kingdom Powder Coating Resins Market by Application
10.2.6.5 Russia Powder Coating Resins Market
10.2.6.5.1 Russia Powder Coating Resins Market by Resin type
10.2.6.5.2 Russia Powder Coating Resins Market by Technology
10.2.6.5.3 Russia Powder Coating Resins Market by Application
10.2.6.6 Rest of Europe Powder Coating Resins Market
10.2.6.6.1 Rest of Europe Powder Coating Resins Market by Resin type
10.2.6.6.2 Rest of Europe Powder Coating Resins Market by Technology
10.2.6.6.3 Rest of Europe Powder Coating Resins Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Powder Coating Resins Market Overview
10.3.2 Asia-Pacific Powder Coating Resins Market Forecasts and Analysis
10.3.3 Asia-Pacific Powder Coating Resins Market Forecasts and Analysis - By Resin type
10.3.4 Asia-Pacific Powder Coating Resins Market Forecasts and Analysis - By Technology
10.3.5 Asia-Pacific Powder Coating Resins Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Powder Coating Resins Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Powder Coating Resins Market
10.3.6.1.1 Australia Powder Coating Resins Market by Resin type
10.3.6.1.2 Australia Powder Coating Resins Market by Technology
10.3.6.1.3 Australia Powder Coating Resins Market by Application
10.3.6.2 China Powder Coating Resins Market
10.3.6.2.1 China Powder Coating Resins Market by Resin type
10.3.6.2.2 China Powder Coating Resins Market by Technology
10.3.6.2.3 China Powder Coating Resins Market by Application
10.3.6.3 India Powder Coating Resins Market
10.3.6.3.1 India Powder Coating Resins Market by Resin type
10.3.6.3.2 India Powder Coating Resins Market by Technology
10.3.6.3.3 India Powder Coating Resins Market by Application
10.3.6.4 Japan Powder Coating Resins Market
10.3.6.4.1 Japan Powder Coating Resins Market by Resin type
10.3.6.4.2 Japan Powder Coating Resins Market by Technology
10.3.6.4.3 Japan Powder Coating Resins Market by Application
10.3.6.5 South Korea Powder Coating Resins Market
10.3.6.5.1 South Korea Powder Coating Resins Market by Resin type
10.3.6.5.2 South Korea Powder Coating Resins Market by Technology
10.3.6.5.3 South Korea Powder Coating Resins Market by Application
10.3.6.6 Rest of Asia-Pacific Powder Coating Resins Market
10.3.6.6.1 Rest of Asia-Pacific Powder Coating Resins Market by Resin type
10.3.6.6.2 Rest of Asia-Pacific Powder Coating Resins Market by Technology
10.3.6.6.3 Rest of Asia-Pacific Powder Coating Resins Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Powder Coating Resins Market Overview
10.4.2 Middle East and Africa Powder Coating Resins Market Forecasts and Analysis
10.4.3 Middle East and Africa Powder Coating Resins Market Forecasts and Analysis - By Resin type
10.4.4 Middle East and Africa Powder Coating Resins Market Forecasts and Analysis - By Technology
10.4.5 Middle East and Africa Powder Coating Resins Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Powder Coating Resins Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Powder Coating Resins Market
10.4.6.1.1 South Africa Powder Coating Resins Market by Resin type
10.4.6.1.2 South Africa Powder Coating Resins Market by Technology
10.4.6.1.3 South Africa Powder Coating Resins Market by Application
10.4.6.2 Saudi Arabia Powder Coating Resins Market
10.4.6.2.1 Saudi Arabia Powder Coating Resins Market by Resin type
10.4.6.2.2 Saudi Arabia Powder Coating Resins Market by Technology
10.4.6.2.3 Saudi Arabia Powder Coating Resins Market by Application
10.4.6.3 U.A.E Powder Coating Resins Market
10.4.6.3.1 U.A.E Powder Coating Resins Market by Resin type
10.4.6.3.2 U.A.E Powder Coating Resins Market by Technology
10.4.6.3.3 U.A.E Powder Coating Resins Market by Application
10.4.6.4 Rest of Middle East and Africa Powder Coating Resins Market
10.4.6.4.1 Rest of Middle East and Africa Powder Coating Resins Market by Resin type
10.4.6.4.2 Rest of Middle East and Africa Powder Coating Resins Market by Technology
10.4.6.4.3 Rest of Middle East and Africa Powder Coating Resins Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Powder Coating Resins Market Overview
10.5.2 South and Central America Powder Coating Resins Market Forecasts and Analysis
10.5.3 South and Central America Powder Coating Resins Market Forecasts and Analysis - By Resin type
10.5.4 South and Central America Powder Coating Resins Market Forecasts and Analysis - By Technology
10.5.5 South and Central America Powder Coating Resins Market Forecasts and Analysis - By Application
10.5.6 South and Central America Powder Coating Resins Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Powder Coating Resins Market
10.5.6.1.1 Brazil Powder Coating Resins Market by Resin type
10.5.6.1.2 Brazil Powder Coating Resins Market by Technology
10.5.6.1.3 Brazil Powder Coating Resins Market by Application
10.5.6.2 Argentina Powder Coating Resins Market
10.5.6.2.1 Argentina Powder Coating Resins Market by Resin type
10.5.6.2.2 Argentina Powder Coating Resins Market by Technology
10.5.6.2.3 Argentina Powder Coating Resins Market by Application
10.5.6.3 Rest of South and Central America Powder Coating Resins Market
10.5.6.3.1 Rest of South and Central America Powder Coating Resins Market by Resin type
10.5.6.3.2 Rest of South and Central America Powder Coating Resins Market by Technology
10.5.6.3.3 Rest of South and Central America Powder Coating Resins 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. POWDER COATING RESINS MARKET, KEY COMPANY PROFILES
12.1. ARKEMA
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. BASF SE
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. COVESTRO
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. ALLNEX NETHERLANDS B.V.
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. THE SHERWIN-WILLIAMS 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. DOW INC.
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. EVONIK INDUSTRIES AG
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. POLYNT-REICHHOLD
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. HUNTSMAN INTERNATIONAL LLC.
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. MITSUBISHI CHEMICAL CORPORATION
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.Arkema
2.BASF SE
3.Covestro
4.Allnex Netherlands B.V.
5.The Sherwin-Williams Company
6.Dow Inc.
7.Evonik Industries AG
8.Polynt-Reichhold
9.Huntsman International LLC.
10.Mitsubishi Chemical Corporation
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.