Recycled Metals Market Size (2021-2031) and Regional Overview
The Recycled Metals Market is expected to register a CAGR of 5.9% 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 (iron, steel, aluminum, copper, nickel, platinum, lead, tin, and others). The report is further segmented by end-use industry (construction, automotive, aviation, consumer durables, industrial machinery, packaging, and others). The report scope covers five regions: North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America and key countries under each region. The global analysis is further broken down at the regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Recycled Metals 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.
Recycled Metals Market Segmentation
Type- Iron
- Steel
- Aluminum
- Copper
- Nickel
- Platinum
- Lead
- Tin
- Construction
- Automotive
- Aviation
- Consumer Durables
- Industrial Machinery
- Packaging
Strategic Insights
Recycled Metals Market Growth Drivers- Sustainability and Growing Demand for Recycled Metals: As environmental awareness spreads, sustainability is on everybody's lips in industries today. Governments, corporations, and consumers are increasingly becoming green-friendly, which boosts demand for recycled metals. Metallurgical recycling conserves natural resources, saves energy, and reduces the effects of environmental degradation. Regulations such as carbon taxes and waste management standards encourage businesses to adopt circular economy models, propelling the demand for recycled metals as a green alternative to virgin metals.
- Fluctuating Raw Metal Prices: Global fluctuations in the price of virgin metals (aluminum, copper, and steel) often affect the demand for recycled metals. When raw metals become too expensive to mine, recycle them instead. The most recent trend for this phenomenon is in the automobile and construction industries, where the demand for metals remains high and metal recycling offers a price advantage with sustainability as an added benefit. Recycling will provide stability to companies with fluctuating metal prices because it offers a cheaper supply chain.
- Technological Advancements in Metal Recycling: The technological advances in metal recycling technology make the processes more efficient with higher quality output products. Improved techniques in sorting allow for the better use of automated separation and more effective melting, ensuring greater purity and yield in the metals to be recycled. Innovations in this technology have rendered recycling more cost-effective, enabling more industries to utilize the available recycled metals in higher-end applications, including electronics and the automotive sector, which are significantly material-integrity-intensive. The newer recycling technologies make extracting precious metals more economical, improving the overall market.
- Automation and AI in Metal Recycling: Automation and AI technologies are being incorporated in the metal recycling industry in efforts to streamline the sorting, processing, and transportation of scrap metals. Automated sorting systems based on AI and machine learning improve the identification of metals with greater accuracy, improving the quality of output of recycled materials and lowering operation costs. Innovations made through these advancements are making the recycling process faster and safer, an attraction that both large-scale recyclers and small businesses appreciate.
- Shift Toward Circular Economy Models: More industries are going toward the circular economy model wherein they are not only recycling scrap metals but also designing products that are easier to recycle. This is in many sectors like electronics, automotive, and packaging, wherein the producers are integrating recyclable metals into their designs. There are take-back programs embraced by the companies to collect used products for recycling. This shift toward a circular economy has reaped the benefits of the recycled metal market in increasing supplies of scrap metals for recycling.
- Regional Recycling Infrastructure Development: Increased significance in the recycled metal market are regional recycling infrastructure and nations, particularly those countries inside the European Union and North America, that are working toward building more significant internal domestic recycling capabilities to move their dependence on imported scrap metals. The regional trend also goes hand in hand with the increasing importance placed upon keeping down transportation costs and curtailing the carbon footprint brought along when shipping scrap metal across country boundaries.
- Growth in Electric Vehicles and Metal Recycling: Growth in electric vehicles is seen globally, thus growing the demand for aluminum, copper, and lithium. These metals are used in EVs, especially in their batteries and motors and in many body components designed to reduce the weight of the vehicles. Recycling them can serve as an opportunity to address the increasing demand in an environmentally friendly way. There is a need to increase the availability of recycled metals to supplement the mined supplies and consequently alleviate the effects of extracting such metals.
- Scarcity of Exotic Metals and Recycling Opportunities: Increasing consumption of scarce and exotic metals like lithium, cobalt, and rare earth elements in electronic products and renewable energy equipment will provide a new market for the recycling business. There are no currently available recycling processes for these metals, but as technology improves, new technologies may become viable to economically recycle these materials from end-of-life electronics, spent batteries, and renewable energy infrastructure. This would establish a new source of revenue for the recycled metal market and contribute to the world's shift toward cleaner energy.
- Rising E-Waste and Recycling Demand: As the volume of electronic waste is increasing globally, considerable scope for recycled metals lies in discarded consumer electronics. The metals present in the e-waste include gold, silver, copper, and palladium. The regulations, along with enhanced awareness among consumers, would force the improvement of the methods for recycling e-waste, which would give the much-needed source of metals to the world besides taking care of the environmental issues arising out of e-waste generation. As countries move towards stronger e-waste recycling legislation, more businesses specializing in this niche can capture more market share.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Recycled Metals 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 Recycled Metals 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.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, End-Use Industry, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
The Recycled Metals Market is estimated to witness a CAGR of 5.9% from 2023 to 2031
The major factors driving the recycled metals market are:
1. Increasing Demand for Sustainable Practices.
2. Rising Scrap Metal Prices.
Schnitzer Steel Industries Inc, ArcelorMittal SA, European Metal Recycling Ltd, Norsk Hydro ASA, Hindalco Industries Ltd, Aurubis AG, Nucor Corp, Commercial Metals Co, Sims Ltd, and DOWA HOLDINGS CO LTD
On the basis of geography, the recycled metals market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
Integration of artificial intelligence and automation is expected to be the key market trend.
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 Recycled Metal Market - By Metal
1.3.2 Recycled Metal Market - By End-user
1.3.3 Recycled Metal Market - By Region
1.3.3.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. RECYCLED METAL 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. RECYCLED METAL 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. RECYCLED METAL MARKET - GLOBAL MARKET ANALYSIS
6.1. RECYCLED METAL - GLOBAL MARKET OVERVIEW
6.2. RECYCLED METAL - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. RECYCLED METAL MARKET - REVENUE AND FORECASTS TO 2028 - METAL
7.1. OVERVIEW
7.2. METAL MARKET FORECASTS AND ANALYSIS
7.3. FERROUS METALS
7.3.1. Overview
7.3.2. Ferrous Metals Market Forecast and Analysis
7.4. NON-FERROUS METALS
7.4.1. Overview
7.4.2. Non-ferrous Metals Market Forecast and Analysis
7.4.3. Aluminum Market
7.4.3.1. Overview
7.4.3.2. Aluminum Market Forecast and Analysis
7.4.4. Copper Market
7.4.4.1. Overview
7.4.4.2. Copper Market Forecast and Analysis
7.4.5. Lead Market
7.4.5.1. Overview
7.4.5.2. Lead Market Forecast and Analysis
7.4.6. Others Market
7.4.6.1. Overview
7.4.6.2. Others Market Forecast and Analysis
7.5. PRECIOUS METALS
7.5.1. Overview
7.5.2. Precious Metals Market Forecast and Analysis
8. RECYCLED METAL MARKET - REVENUE AND FORECASTS TO 2028 - END-USER
8.1. OVERVIEW
8.2. END-USER MARKET FORECASTS AND ANALYSIS
8.3. BUILDING AND CONSTRUCTION
8.3.1. Overview
8.3.2. Building and Construction Market Forecast and Analysis
8.4. AUTOMOTIVE
8.4.1. Overview
8.4.2. Automotive Market Forecast and Analysis
8.5. ELECTRICAL AND ELECTRONICS
8.5.1. Overview
8.5.2. Electrical and Electronics Market Forecast and Analysis
8.6. SHIPBUILDING
8.6.1. Overview
8.6.2. Shipbuilding Market Forecast and Analysis
8.7. INDUSTRIAL MACHINERY
8.7.1. Overview
8.7.2. Industrial Machinery Market Forecast and Analysis
8.8. OTHERS
8.8.1. Overview
8.8.2. Others Market Forecast and Analysis
9. RECYCLED METAL MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Recycled Metal Market Overview
9.1.2 North America Recycled Metal Market Forecasts and Analysis
9.1.3 North America Recycled Metal Market Forecasts and Analysis - By Metal
9.1.4 North America Recycled Metal Market Forecasts and Analysis - By End-user
9.1.5 North America Recycled Metal Market Forecasts and Analysis - By Countries
9.1.5.1 United States Recycled Metal Market
9.1.5.1.1 United States Recycled Metal Market by Metal
9.1.5.1.2 United States Recycled Metal Market by End-user
9.1.5.2 Canada Recycled Metal Market
9.1.5.2.1 Canada Recycled Metal Market by Metal
9.1.5.2.2 Canada Recycled Metal Market by End-user
9.1.5.3 Mexico Recycled Metal Market
9.1.5.3.1 Mexico Recycled Metal Market by Metal
9.1.5.3.2 Mexico Recycled Metal Market by End-user
9.2. EUROPE
9.2.1 Europe Recycled Metal Market Overview
9.2.2 Europe Recycled Metal Market Forecasts and Analysis
9.2.3 Europe Recycled Metal Market Forecasts and Analysis - By Metal
9.2.4 Europe Recycled Metal Market Forecasts and Analysis - By End-user
9.2.5 Europe Recycled Metal Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Recycled Metal Market
9.2.5.1.1 Germany Recycled Metal Market by Metal
9.2.5.1.2 Germany Recycled Metal Market by End-user
9.2.5.2 France Recycled Metal Market
9.2.5.2.1 France Recycled Metal Market by Metal
9.2.5.2.2 France Recycled Metal Market by End-user
9.2.5.3 Italy Recycled Metal Market
9.2.5.3.1 Italy Recycled Metal Market by Metal
9.2.5.3.2 Italy Recycled Metal Market by End-user
9.2.5.4 Spain Recycled Metal Market
9.2.5.4.1 Spain Recycled Metal Market by Metal
9.2.5.4.2 Spain Recycled Metal Market by End-user
9.2.5.5 United Kingdom Recycled Metal Market
9.2.5.5.1 United Kingdom Recycled Metal Market by Metal
9.2.5.5.2 United Kingdom Recycled Metal Market by End-user
9.2.5.6 Russia Recycled Metal Market
9.2.5.6.1 Russia Recycled Metal Market by Metal
9.2.5.6.2 Russia Recycled Metal Market by End-user
9.2.5.7 Rest of Europe Recycled Metal Market
9.2.5.7.1 Rest of Europe Recycled Metal Market by Metal
9.2.5.7.2 Rest of Europe Recycled Metal Market by End-user
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Recycled Metal Market Overview
9.3.2 Asia-Pacific Recycled Metal Market Forecasts and Analysis
9.3.3 Asia-Pacific Recycled Metal Market Forecasts and Analysis - By Metal
9.3.4 Asia-Pacific Recycled Metal Market Forecasts and Analysis - By End-user
9.3.5 Asia-Pacific Recycled Metal Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Recycled Metal Market
9.3.5.1.1 Australia Recycled Metal Market by Metal
9.3.5.1.2 Australia Recycled Metal Market by End-user
9.3.5.2 China Recycled Metal Market
9.3.5.2.1 China Recycled Metal Market by Metal
9.3.5.2.2 China Recycled Metal Market by End-user
9.3.5.3 India Recycled Metal Market
9.3.5.3.1 India Recycled Metal Market by Metal
9.3.5.3.2 India Recycled Metal Market by End-user
9.3.5.4 Japan Recycled Metal Market
9.3.5.4.1 Japan Recycled Metal Market by Metal
9.3.5.4.2 Japan Recycled Metal Market by End-user
9.3.5.5 South Korea Recycled Metal Market
9.3.5.5.1 South Korea Recycled Metal Market by Metal
9.3.5.5.2 South Korea Recycled Metal Market by End-user
9.3.5.6 Rest of Asia-Pacific Recycled Metal Market
9.3.5.6.1 Rest of Asia-Pacific Recycled Metal Market by Metal
9.3.5.6.2 Rest of Asia-Pacific Recycled Metal Market by End-user
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Recycled Metal Market Overview
9.4.2 Middle East and Africa Recycled Metal Market Forecasts and Analysis
9.4.3 Middle East and Africa Recycled Metal Market Forecasts and Analysis - By Metal
9.4.4 Middle East and Africa Recycled Metal Market Forecasts and Analysis - By End-user
9.4.5 Middle East and Africa Recycled Metal Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Recycled Metal Market
9.4.5.1.1 South Africa Recycled Metal Market by Metal
9.4.5.1.2 South Africa Recycled Metal Market by End-user
9.4.5.2 Saudi Arabia Recycled Metal Market
9.4.5.2.1 Saudi Arabia Recycled Metal Market by Metal
9.4.5.2.2 Saudi Arabia Recycled Metal Market by End-user
9.4.5.3 U.A.E Recycled Metal Market
9.4.5.3.1 U.A.E Recycled Metal Market by Metal
9.4.5.3.2 U.A.E Recycled Metal Market by End-user
9.4.5.4 Rest of Middle East and Africa Recycled Metal Market
9.4.5.4.1 Rest of Middle East and Africa Recycled Metal Market by Metal
9.4.5.4.2 Rest of Middle East and Africa Recycled Metal Market by End-user
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Recycled Metal Market Overview
9.5.2 South and Central America Recycled Metal Market Forecasts and Analysis
9.5.3 South and Central America Recycled Metal Market Forecasts and Analysis - By Metal
9.5.4 South and Central America Recycled Metal Market Forecasts and Analysis - By End-user
9.5.5 South and Central America Recycled Metal Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Recycled Metal Market
9.5.5.1.1 Brazil Recycled Metal Market by Metal
9.5.5.1.2 Brazil Recycled Metal Market by End-user
9.5.5.2 Argentina Recycled Metal Market
9.5.5.2.1 Argentina Recycled Metal Market by Metal
9.5.5.2.2 Argentina Recycled Metal Market by End-user
9.5.5.3 Rest of South and Central America Recycled Metal Market
9.5.5.3.1 Rest of South and Central America Recycled Metal Market by Metal
9.5.5.3.2 Rest of South and Central America Recycled Metal Market by End-user
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. RECYCLED METAL MARKET, KEY COMPANY PROFILES
11.1. AARON METALS
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. CENTURY METAL RECYCLING LIMITED
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. EUROPEAN METAL RECYCLING LIMITED
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. KUUSAKOSKI GROUP OY
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. NUCOR CORPORATION
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. OMNISOURCE CORP. (STEEL DYNAMICS INC.)
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. SA RECYCLING LLC
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. SCHNITZER STEEL INDUSTRIES, INC.
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. SIMS METAL MANAGEMENT LTD
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. UMICORE N.V.
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. Aaron Metals
2. Century Metal Recycling Limited
3. European Metal Recycling Limited
4. Kuusakoski Group Oy
5. Nucor Corporation
6. OmniSource Corp. (Steel Dynamics Inc. )
7. SA Recycling LLC
8. Schnitzer Steel Industries, Inc.
9. Sims Metal Management Ltd
10. Umicore N. V.
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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