Printing Inks Market Forecast (2024-2031), Size, Share
The Printing Inks Market is expected to register a CAGR of 3% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by type (solvent-based, water-based, oil-based, UV-based, others), resin type (modified resins, hydrocarbon resins, acrylics, polyurethanes, polyamides, others). The report further presents analysis based on application (packaging and labels, commercial and publication printing, textiles, other). 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 Printing Inks 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.
Printing Inks Market Segmentation
Type- Solvent-based
- Water-based
- Oil-Based
- UV-Based
- Modified Resins
- Hydrocarbon Resins
- Acrylics
- Polyurethanes
- Polyamides
- Packaging and Labels
- Commercial and Publication Printing
- Textiles
- Other
- 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
Printing Inks Market Growth Drivers- Packaging Sector Growth: The dominant global packaging sector propels the printing inks market significantly. The high-quality inks required for branding, labeling, and protection are increasing due to the increasing demand for printed packaging materials, especially for consumer goods, pharmaceuticals, and food products.
- E-Commerce and Digital Printing: The expansion of e-commerce and the immediate growth of digital printing technology have had an overwhelming influence on the printing inks market. The demand for specialized inks used exclusively to produce press output for digital presses and special product labels is steadily rising, thus further fuelling growth in the market.
- Regulatory Pressures and Sustainability: Environmental and regulatory pressure continues to encourage the uptake of green inks. The demand for water, UV, and soy-inks continues climbing because the print manufacturers are realizing solutions that are not only compliant with regulations but also are acceptable to consumers.
- Shift Towards Eco-Friendly Printing Inks: The change to eco-friendly printing ink is an important part of a new trend. Consumers and businesses now want inks made from renewable resources, such as soy or algae, and low in VOCs, or volatile organic compounds. They are seeking fresh environments to obtain their products and use such materials to satisfy very strict sustainability regulations in much of the world.
- Digital Printing Revolutionizes Ink Markets with Flexibility and Cost Efficiency: The increased adoption of digital printing technology has revolutionized ink markets. Digital printing offers more flexibility, reduced turnaround times, and lower production costs. This trend anticipates increased usage of specialized inks, such as UV and LED curing inks, which are key elements in digital printer technology.
- Personalization Drives Demand for Premium Specialty Inks in Packaging and Marketing: A personalization in the printing trend is also seen, especially in packaging, labels, and marketing materials. This has increased the demand for premium specialty inks that will provide vivid colors, long-lasting print, and high-definition quality, enabling brands to personalize their products and differentiate themselves from the crowd.
- Industrialization and Urbanization Drive Growing Demand for Printing Inks: Evolving economies witness booming demand of print inks in the emerging trend of industrialization and urbanization. Growth of packaging, advertising, and publishing industries in economies like Asia-Pacific and Latin America assures good opportunities for ink manufacturers to broaden their market reached.
- Rising Consumer Demand for Eco-Friendly Inks Fuels Market Expansion: With greater consumer concern on sustainability, the open space of potential market for printing inks is increasing in terms of eco-friendliness and suitability for packaging. There is increasing demand for biodegradable, recyclable and less-influencing inks bringing fresh avenues for businesses on developing and marketing sustainable inks for packaging.
- Innovation in Ink Formulations Enhances Productivity and Sustainability: Continuous innovation in ink formulations, like UV-curable, and water-based inks expands productivity potential; their advantages of improved print quality, faster drying, and lower environmental impact leave manufacturers well-positioned to meet changing customer requirements across multiple sectors, including packaging, labeling, and textiles.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Printing Inks 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 Printing Inks 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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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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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 Printing Inks Market is estimated to witness a CAGR of 3% from 2023 to 2031
The growth of e-commerce and the rise of digital printing technologies have significantly impacted the printing inks market.
On the basis of geography, the printung inks market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
3A Composites Holding AG, Avery Dennison Corporation, EhKo Sign Industries Kft., IGEPA group GmbH & Co. KG, Kelly Signs Inc., L and H Sign Company Inc, Lintec Europe B.V., Orafol Europe GmbH, Signs Express, Spandex Ltd. are the key players operating in the printing inks market.
Based on geography, North America held the largest share of the printing inks market.
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Printing Inks Market - By Product Type
1.3.2 Printing Inks Market - By Process
1.3.3 Printing Inks Market - By Application
1.3.4 Printing Inks Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. PRINTING INKS 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. PRINTING INKS 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. PRINTING INKS MARKET - GLOBAL MARKET ANALYSIS
6.1. PRINTING INKS - GLOBAL MARKET OVERVIEW
6.2. PRINTING INKS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. PRINTING INKS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. SOLVENT BASED PRINTING INKS
7.3.1. Overview
7.3.2. Solvent based Printing Inks Market Forecast and Analysis
7.4. WATER BASED PRINTING INKS
7.4.1. Overview
7.4.2. Water based Printing Inks Market Forecast and Analysis
7.5. OIL BASED PRINTING INKS
7.5.1. Overview
7.5.2. Oil based Printing Inks Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. PRINTING INKS MARKET - REVENUE AND FORECASTS TO 2028 - PROCESS
8.1. OVERVIEW
8.2. PROCESS MARKET FORECASTS AND ANALYSIS
8.3. LITHOGRAPHIC PRINTING
8.3.1. Overview
8.3.2. Lithographic Printing Market Forecast and Analysis
8.4. GRAVURE PRINTING
8.4.1. Overview
8.4.2. Gravure Printing Market Forecast and Analysis
8.5. FLEXOGRAPHIC PRINTING
8.5.1. Overview
8.5.2. Flexographic Printing Market Forecast and Analysis
8.6. DIGITAL PRINTING
8.6.1. Overview
8.6.2. Digital Printing Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. PRINTING INKS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. PACKAGING
9.3.1. Overview
9.3.2. Packaging Market Forecast and Analysis
9.4. PUBLICATION AND COMMERCIAL PRINTING
9.4.1. Overview
9.4.2. Publication and commercial printing Market Forecast and Analysis
9.5. OTHERS
9.5.1. Overview
9.5.2. Others Market Forecast and Analysis
10. PRINTING INKS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Printing Inks Market Overview
10.1.2 North America Printing Inks Market Forecasts and Analysis
10.1.3 North America Printing Inks Market Forecasts and Analysis - By Product Type
10.1.4 North America Printing Inks Market Forecasts and Analysis - By Process
10.1.5 North America Printing Inks Market Forecasts and Analysis - By Application
10.1.6 North America Printing Inks Market Forecasts and Analysis - By Countries
10.1.6.1 United States Printing Inks Market
10.1.6.1.1 United States Printing Inks Market by Product Type
10.1.6.1.2 United States Printing Inks Market by Process
10.1.6.1.3 United States Printing Inks Market by Application
10.1.6.2 Canada Printing Inks Market
10.1.6.2.1 Canada Printing Inks Market by Product Type
10.1.6.2.2 Canada Printing Inks Market by Process
10.1.6.2.3 Canada Printing Inks Market by Application
10.1.6.3 Mexico Printing Inks Market
10.1.6.3.1 Mexico Printing Inks Market by Product Type
10.1.6.3.2 Mexico Printing Inks Market by Process
10.1.6.3.3 Mexico Printing Inks Market by Application
10.2. EUROPE
10.2.1 Europe Printing Inks Market Overview
10.2.2 Europe Printing Inks Market Forecasts and Analysis
10.2.3 Europe Printing Inks Market Forecasts and Analysis - By Product Type
10.2.4 Europe Printing Inks Market Forecasts and Analysis - By Process
10.2.5 Europe Printing Inks Market Forecasts and Analysis - By Application
10.2.6 Europe Printing Inks Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Printing Inks Market
10.2.6.1.1 Germany Printing Inks Market by Product Type
10.2.6.1.2 Germany Printing Inks Market by Process
10.2.6.1.3 Germany Printing Inks Market by Application
10.2.6.2 France Printing Inks Market
10.2.6.2.1 France Printing Inks Market by Product Type
10.2.6.2.2 France Printing Inks Market by Process
10.2.6.2.3 France Printing Inks Market by Application
10.2.6.3 Italy Printing Inks Market
10.2.6.3.1 Italy Printing Inks Market by Product Type
10.2.6.3.2 Italy Printing Inks Market by Process
10.2.6.3.3 Italy Printing Inks Market by Application
10.2.6.4 United Kingdom Printing Inks Market
10.2.6.4.1 United Kingdom Printing Inks Market by Product Type
10.2.6.4.2 United Kingdom Printing Inks Market by Process
10.2.6.4.3 United Kingdom Printing Inks Market by Application
10.2.6.5 Russia Printing Inks Market
10.2.6.5.1 Russia Printing Inks Market by Product Type
10.2.6.5.2 Russia Printing Inks Market by Process
10.2.6.5.3 Russia Printing Inks Market by Application
10.2.6.6 Rest of Europe Printing Inks Market
10.2.6.6.1 Rest of Europe Printing Inks Market by Product Type
10.2.6.6.2 Rest of Europe Printing Inks Market by Process
10.2.6.6.3 Rest of Europe Printing Inks Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Printing Inks Market Overview
10.3.2 Asia-Pacific Printing Inks Market Forecasts and Analysis
10.3.3 Asia-Pacific Printing Inks Market Forecasts and Analysis - By Product Type
10.3.4 Asia-Pacific Printing Inks Market Forecasts and Analysis - By Process
10.3.5 Asia-Pacific Printing Inks Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Printing Inks Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Printing Inks Market
10.3.6.1.1 Australia Printing Inks Market by Product Type
10.3.6.1.2 Australia Printing Inks Market by Process
10.3.6.1.3 Australia Printing Inks Market by Application
10.3.6.2 China Printing Inks Market
10.3.6.2.1 China Printing Inks Market by Product Type
10.3.6.2.2 China Printing Inks Market by Process
10.3.6.2.3 China Printing Inks Market by Application
10.3.6.3 India Printing Inks Market
10.3.6.3.1 India Printing Inks Market by Product Type
10.3.6.3.2 India Printing Inks Market by Process
10.3.6.3.3 India Printing Inks Market by Application
10.3.6.4 Japan Printing Inks Market
10.3.6.4.1 Japan Printing Inks Market by Product Type
10.3.6.4.2 Japan Printing Inks Market by Process
10.3.6.4.3 Japan Printing Inks Market by Application
10.3.6.5 South Korea Printing Inks Market
10.3.6.5.1 South Korea Printing Inks Market by Product Type
10.3.6.5.2 South Korea Printing Inks Market by Process
10.3.6.5.3 South Korea Printing Inks Market by Application
10.3.6.6 Rest of Asia-Pacific Printing Inks Market
10.3.6.6.1 Rest of Asia-Pacific Printing Inks Market by Product Type
10.3.6.6.2 Rest of Asia-Pacific Printing Inks Market by Process
10.3.6.6.3 Rest of Asia-Pacific Printing Inks Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Printing Inks Market Overview
10.4.2 Middle East and Africa Printing Inks Market Forecasts and Analysis
10.4.3 Middle East and Africa Printing Inks Market Forecasts and Analysis - By Product Type
10.4.4 Middle East and Africa Printing Inks Market Forecasts and Analysis - By Process
10.4.5 Middle East and Africa Printing Inks Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Printing Inks Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Printing Inks Market
10.4.6.1.1 South Africa Printing Inks Market by Product Type
10.4.6.1.2 South Africa Printing Inks Market by Process
10.4.6.1.3 South Africa Printing Inks Market by Application
10.4.6.2 Saudi Arabia Printing Inks Market
10.4.6.2.1 Saudi Arabia Printing Inks Market by Product Type
10.4.6.2.2 Saudi Arabia Printing Inks Market by Process
10.4.6.2.3 Saudi Arabia Printing Inks Market by Application
10.4.6.3 U.A.E Printing Inks Market
10.4.6.3.1 U.A.E Printing Inks Market by Product Type
10.4.6.3.2 U.A.E Printing Inks Market by Process
10.4.6.3.3 U.A.E Printing Inks Market by Application
10.4.6.4 Rest of Middle East and Africa Printing Inks Market
10.4.6.4.1 Rest of Middle East and Africa Printing Inks Market by Product Type
10.4.6.4.2 Rest of Middle East and Africa Printing Inks Market by Process
10.4.6.4.3 Rest of Middle East and Africa Printing Inks Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Printing Inks Market Overview
10.5.2 South and Central America Printing Inks Market Forecasts and Analysis
10.5.3 South and Central America Printing Inks Market Forecasts and Analysis - By Product Type
10.5.4 South and Central America Printing Inks Market Forecasts and Analysis - By Process
10.5.5 South and Central America Printing Inks Market Forecasts and Analysis - By Application
10.5.6 South and Central America Printing Inks Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Printing Inks Market
10.5.6.1.1 Brazil Printing Inks Market by Product Type
10.5.6.1.2 Brazil Printing Inks Market by Process
10.5.6.1.3 Brazil Printing Inks Market by Application
10.5.6.2 Argentina Printing Inks Market
10.5.6.2.1 Argentina Printing Inks Market by Product Type
10.5.6.2.2 Argentina Printing Inks Market by Process
10.5.6.2.3 Argentina Printing Inks Market by Application
10.5.6.3 Rest of South and Central America Printing Inks Market
10.5.6.3.1 Rest of South and Central America Printing Inks Market by Product Type
10.5.6.3.2 Rest of South and Central America Printing Inks Market by Process
10.5.6.3.3 Rest of South and Central America Printing Inks 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. PRINTING INKS MARKET, KEY COMPANY PROFILES
12.1. DIC 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. FLINT GROUP
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. HEIDELBERGER DRUCKMASCHINEN AG
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. NATIONAL ASSOCIATION OF PRINTING INK MANUFACTURERS
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. SAKATA INX
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. SIEGWERK DRUCKFARBEN AG AND CO. KGAA
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. SUN CHEMICALS
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. TANDK TOKA
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. TOYO INK S.C. HOLDINGS
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. WIKOFF COLOR 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. DIC Corporation
2. Flint Group
3. Heidelberger Druckmaschinen AG
4. National Association of Printing Ink Manufacturers
5. Sakata Inx
6. Siegwerk Druckfarben AG and Co. KGaA
7. Sun Chemicals
8. TandK Toka
9. Toyo Ink S.C. Holdings
10. Wikoff Color 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.
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