Refinery Catalysts Market Overview and Forecast by 2031
The Refinery Catalysts Market is expected to register a CAGR of 4% from 2023 to 2031, with a market size expanding from US$ XX Million in 2023 to US$ XX Million by 2031.
The refinery catalysts market report is segmented by type (FCC catalysts, hydrotreating catalysts, hydrocracking catalysts, and catalytic reforming catalysts). The market is segmented based on ingredient (zeolites, metals, chemical compounds, and others). The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis, segments, regions, and countries. The report covers market trends, as well as market dynamics such as drivers, restraints, and key opportunities. The report also covers industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the market.
Purpose of the ReportThe report Refinery Catalysts 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.
Refinery Catalysts Market Segmentation
Type- FCC Catalysts
- Hydrotreating Catalysts
- Hydrocracking Catalysts
- Catalytic Reforming Catalysts
- Zeolites
- Metals
- Chemical Compounds
Strategic Insights
Refinery Catalysts Market Growth Drivers- Regulatory Pressures and Environmental Standards: The thrust to cleaner energy and reduced emissions makes it inevitable for the refinery catalysts market to grow. Governments all over the world are making stringent environment standards that mandate refineries to operate in a cleaner fuel way and cut down their harmful emissions. Sulfur cap by International Maritime Organization (IMO) and low-emission fuel standards in the automotive industry are all regulations making catalytic usage indispensable in refinery hydrotreating, cracking, and reforming processes to reduce sulfur, nitrogen, and other fuels contaminants compliance with it.
- Demand for Low-Emission and High-Performance Fuels: Increased environmental concern generates an emerging high demand for improved quality, low-emission fuels. Catalytic processing is being more exploited by refineries to produce cleaner fuels to meet the growing demand for low-sulfu and low-carb high-performance fuels. Catalysts are primarily involved in oil refinement to gasoline, diesel, and jet fuel, which have increased efficiency and yield and improved product quality in overall terms. There is also high demand for advanced catalysts in cleaner fuels from transportation and industrial sectors to energy production.
- Advancements in Refining Technologies: Continuous progress in refining technology is the main factor leading to the rapid growth of the refinery catalysts market. Applications where new catalytic transformations have been developed-increased hydrocracking, effective fluid catalytic cracking (FCC) and catalytic reforming, increased fuel yield, reduced energy consumption, and higher overall efficiency of refineries-have produced effects that may help justify the development of catalysts that have better resistance to poisoning, longer lifespan, and higher temperature and pressure operation, which will definitely increase refinery throughput while keeping compliance with the environment. These technologies have helped revolutionize the refining industry in terms of flexibly responding to evolving demand patterns and regulatory pressures.
- Green and Sustainable Refinery Catalysts: Sustainability is among the dominant priorities of industries worldwide, resulting in a growing trend towards green and eco-friendly refinery catalysts. Such refinery catalysts are focused on energy savings and waste minimization while maximizing efficiency for refining. New catalysts will also be designed for biofuels and renewable feedstocks, which are now important in changing to cleaner energy. These catalysts are designed for sustainability, as they will be less harmful to waste disposal and recycling related to catalyst life cycle concerns.
- Digitalization and Data Analytics in Refining: It's the new trend that will take over the future of the refinery catalysts market-and that is digitalities and data analytics as part of the refinery operation. Advanced monitoring systems used with machine learning and artificial intelligence (AI) collaborate and optimize catalytic processes in real time. The performance monitoring and predictive maintenance systems will allow efficient economic usage of catalysts. Smart refining technologies will provide refineries with operating conditions feasible for optimizing catalyst efficiency, thus reducing downtime and extending lives of catalysts. This would augur well for increasing demand in advanced monitoring and control systems-fitted catalysts.
- Catalysts for Renewable and Alternative Feedstocks: The future focus of the refinery catalysts market will be on increasing renewable and alternative feedstocks, such as bio-based oils, algae, and waste oils. Such feedstocks differ in composition from age-old petroleum-based crude oil; thus, they need alteration or redesign of catalysts for effective processing. Hydroprocessing and catalytic cracking are two eminent processes in refining fossil fuels; however, in light of this latest development, new forms of catalysts to process these feedstocks will be required. The increasing usage of biofuels, green hydrogen, and renewable feedstocks is going to trigger more demand for specialized catalysts that process them.
- Increased Demand for Efficient and High-Performance Catalysts: Refinery modernization and greater demands for fuel quality improvement and environmental performance are expected to increase the demand for more efficient and high-performance catalysts. High markets will be generated for those catalysts that facilitate the conversion of heavy crude oil, bio-oils, and natural gas into high-value products. The new high-capture catalysts able to process new feedstocks and make overall refining more efficient will significantly open market frontiers to the developers in this field. For example, hydrocracking catalysts will promise further growth as they convert heavier crude into other light, high-value products.
- Growth Potential in Emerging Economies: There is great potential for the refinery catalysts market to grow due to the continued industrialization and urbanization of emerging economies. Many of the Asian, African, and Latin American countries are thereby increasing their refining capacity to meet the growing fuel and chemical demand. In addition, these regions are under pressure to align themselves with all possible international environmental requirements. As these areas continue to grow, the demand for catalysts that specify local fuel specifications and regulatory requirements will increase. Companies able to get a foothold in these emerging markets using tailored catalysts and services will be well positioned for the future.
- Catalyst Recycling and Reuse: The future lies in the recycling and reuse of catalysts. The refining industry is facing pressure to reduce costs as well as increase its sustainability; therefore, catalyst recycling offers an exceptional opportunity in alleviating some of the costs of buying new catalysts. Moreover, extension of catalyst lifetime and reduction of waste have been made possible by the trend toward catalyst regeneration and reuse technology. This progressive market opportunity can be approached by companies that offer catalyst regeneration services, as well as companies developing more easily reusable and recyclable catalysts.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Refinery Catalysts 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 Refinery Catalysts 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
Have a question?
Shejal
Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- 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
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The Refinery Catalysts Market is estimated to witness a CAGR of 4% from 2023 to 2031
Stringent environmental regulations are driving the market growth.
Albemarle Corporation, Axens SA, BASF SE, China Petroleum and Chemical Corporation, Clariant International Ltd, Criterion Catalysts and Technologies L.P., Haldor Topsoe A/S, Honeywell UOP LLC, Johnson Matthey Plc, and W. R. Grace and Co. are the key players operating in the refinery catalysts market.
Based on ingredient, the zeolites segment is expected to witness the fastest growth during the forecast period.
Based on geography, Asia Pacific held the largest share of the refinery catalysts market due to the attractive investments in the region.
Shift towards green and sustainable catalysts are expected to be the key market trends.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Refinery Catalysts Market - By Type
1.3.2 Refinery Catalysts Market - By Ingredient
1.3.3 Refinery Catalysts Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. REFINERY CATALYSTS 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. REFINERY CATALYSTS 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. REFINERY CATALYSTS MARKET - GLOBAL MARKET ANALYSIS
6.1. REFINERY CATALYSTS - GLOBAL MARKET OVERVIEW
6.2. REFINERY CATALYSTS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. REFINERY CATALYSTS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. FCC CATALYSTS
7.3.1. Overview
7.3.2. FCC Catalysts Market Forecast and Analysis
7.4. HYDROTREATING CATALYSTS
7.4.1. Overview
7.4.2. Hydrotreating Catalysts Market Forecast and Analysis
7.5. HYDROCRACKING CATALYSTS
7.5.1. Overview
7.5.2. Hydrocracking Catalysts Market Forecast and Analysis
7.6. CATALYTIC REFORMING CATALYSTS
7.6.1. Overview
7.6.2. Catalytic Reforming Catalysts Market Forecast and Analysis
8. REFINERY CATALYSTS MARKET - REVENUE AND FORECASTS TO 2028 - INGREDIENT
8.1. OVERVIEW
8.2. INGREDIENT MARKET FORECASTS AND ANALYSIS
8.3. ZEOLITES
8.3.1. Overview
8.3.2. Zeolites Market Forecast and Analysis
8.4. METALS
8.4.1. Overview
8.4.2. Metals Market Forecast and Analysis
8.5. CHEMICAL COMPOUNDS
8.5.1. Overview
8.5.2. Chemical Compounds Market Forecast and Analysis
9. REFINERY CATALYSTS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Refinery Catalysts Market Overview
9.1.2 North America Refinery Catalysts Market Forecasts and Analysis
9.1.3 North America Refinery Catalysts Market Forecasts and Analysis - By Type
9.1.4 North America Refinery Catalysts Market Forecasts and Analysis - By Ingredient
9.1.5 North America Refinery Catalysts Market Forecasts and Analysis - By Countries
9.1.5.1 United States Refinery Catalysts Market
9.1.5.1.1 United States Refinery Catalysts Market by Type
9.1.5.1.2 United States Refinery Catalysts Market by Ingredient
9.1.5.2 Canada Refinery Catalysts Market
9.1.5.2.1 Canada Refinery Catalysts Market by Type
9.1.5.2.2 Canada Refinery Catalysts Market by Ingredient
9.1.5.3 Mexico Refinery Catalysts Market
9.1.5.3.1 Mexico Refinery Catalysts Market by Type
9.1.5.3.2 Mexico Refinery Catalysts Market by Ingredient
9.2. EUROPE
9.2.1 Europe Refinery Catalysts Market Overview
9.2.2 Europe Refinery Catalysts Market Forecasts and Analysis
9.2.3 Europe Refinery Catalysts Market Forecasts and Analysis - By Type
9.2.4 Europe Refinery Catalysts Market Forecasts and Analysis - By Ingredient
9.2.5 Europe Refinery Catalysts Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Refinery Catalysts Market
9.2.5.1.1 Germany Refinery Catalysts Market by Type
9.2.5.1.2 Germany Refinery Catalysts Market by Ingredient
9.2.5.2 France Refinery Catalysts Market
9.2.5.2.1 France Refinery Catalysts Market by Type
9.2.5.2.2 France Refinery Catalysts Market by Ingredient
9.2.5.3 Spain Refinery Catalysts Market
9.2.5.3.1 Spain Refinery Catalysts Market by Type
9.2.5.3.2 Spain Refinery Catalysts Market by Ingredient
9.2.5.4 United Kingdom Refinery Catalysts Market
9.2.5.4.1 United Kingdom Refinery Catalysts Market by Type
9.2.5.4.2 United Kingdom Refinery Catalysts Market by Ingredient
9.2.5.5 Russia Refinery Catalysts Market
9.2.5.5.1 Russia Refinery Catalysts Market by Type
9.2.5.5.2 Russia Refinery Catalysts Market by Ingredient
9.2.5.6 Rest of Europe Refinery Catalysts Market
9.2.5.6.1 Rest of Europe Refinery Catalysts Market by Type
9.2.5.6.2 Rest of Europe Refinery Catalysts Market by Ingredient
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Refinery Catalysts Market Overview
9.3.2 Asia-Pacific Refinery Catalysts Market Forecasts and Analysis
9.3.3 Asia-Pacific Refinery Catalysts Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Refinery Catalysts Market Forecasts and Analysis - By Ingredient
9.3.5 Asia-Pacific Refinery Catalysts Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Refinery Catalysts Market
9.3.5.1.1 Australia Refinery Catalysts Market by Type
9.3.5.1.2 Australia Refinery Catalysts Market by Ingredient
9.3.5.2 China Refinery Catalysts Market
9.3.5.2.1 China Refinery Catalysts Market by Type
9.3.5.2.2 China Refinery Catalysts Market by Ingredient
9.3.5.3 India Refinery Catalysts Market
9.3.5.3.1 India Refinery Catalysts Market by Type
9.3.5.3.2 India Refinery Catalysts Market by Ingredient
9.3.5.4 Japan Refinery Catalysts Market
9.3.5.4.1 Japan Refinery Catalysts Market by Type
9.3.5.4.2 Japan Refinery Catalysts Market by Ingredient
9.3.5.5 South Korea Refinery Catalysts Market
9.3.5.5.1 South Korea Refinery Catalysts Market by Type
9.3.5.5.2 South Korea Refinery Catalysts Market by Ingredient
9.3.5.6 Rest of SouthEast Asia Refinery Catalysts Market
9.3.5.6.1 Rest of SouthEast Asia Refinery Catalysts Market by Type
9.3.5.6.2 Rest of SouthEast Asia Refinery Catalysts Market by Ingredient
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Refinery Catalysts Market Overview
9.4.2 Middle East and Africa Refinery Catalysts Market Forecasts and Analysis
9.4.3 Middle East and Africa Refinery Catalysts Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Refinery Catalysts Market Forecasts and Analysis - By Ingredient
9.4.5 Middle East and Africa Refinery Catalysts Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Refinery Catalysts Market
9.4.5.1.1 South Africa Refinery Catalysts Market by Type
9.4.5.1.2 South Africa Refinery Catalysts Market by Ingredient
9.4.5.2 Saudi Arabia Refinery Catalysts Market
9.4.5.2.1 Saudi Arabia Refinery Catalysts Market by Type
9.4.5.2.2 Saudi Arabia Refinery Catalysts Market by Ingredient
9.4.5.3 U.A.E Refinery Catalysts Market
9.4.5.3.1 U.A.E Refinery Catalysts Market by Type
9.4.5.3.2 U.A.E Refinery Catalysts Market by Ingredient
9.4.5.4 Rest of Middle East and Africa Refinery Catalysts Market
9.4.5.4.1 Rest of Middle East and Africa Refinery Catalysts Market by Type
9.4.5.4.2 Rest of Middle East and Africa Refinery Catalysts Market by Ingredient
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Refinery Catalysts Market Overview
9.5.2 South and Central America Refinery Catalysts Market Forecasts and Analysis
9.5.3 South and Central America Refinery Catalysts Market Forecasts and Analysis - By Type
9.5.4 South and Central America Refinery Catalysts Market Forecasts and Analysis - By Ingredient
9.5.5 South and Central America Refinery Catalysts Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Refinery Catalysts Market
9.5.5.1.1 Brazil Refinery Catalysts Market by Type
9.5.5.1.2 Brazil Refinery Catalysts Market by Ingredient
9.5.5.2 Argentina Refinery Catalysts Market
9.5.5.2.1 Argentina Refinery Catalysts Market by Type
9.5.5.2.2 Argentina Refinery Catalysts Market by Ingredient
9.5.5.3 Rest of South and Central America Refinery Catalysts Market
9.5.5.3.1 Rest of South and Central America Refinery Catalysts Market by Type
9.5.5.3.2 Rest of South and Central America Refinery Catalysts Market by Ingredient
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. REFINERY CATALYSTS MARKET, KEY COMPANY PROFILES
11.1. ALBEMARLE CORPORATION
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. AXENS SA
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. BASF SE
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. CHINA PETROLEUM AND CHEMICAL CORPORATION (SINOPEC CORP.)
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. CLARIANT INTERNATIONAL LTD
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. CRITERION CATALYSTS AND TECHNOLOGIES L.P.
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. HALDOR TOPSOE A/S
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. HONEYWELL, UOP LLC.
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. JOHNSON MATTHEY PLC
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. W. R. GRACE AND CO.
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
1. Albemarle Corporation
2. Axens SA
3. BASF SE
4. China Petroleum and Chemical Corporation (Sinopec Corp.)
5. Clariant International Ltd
6. Criterion Catalysts and Technologies L.P.
7. Haldor Topsoe A/S
8. Honeywell, UOP LLC.
9. Johnson Matthey Plc
10. W. R. Grace and Co.
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.
Get Free Sample For