Roofing Adhesives Market Report - (Growth and Size by 2031)
The Roofing Adhesives Market is expected to register a CAGR of 6% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
Roofing Adhesives Market covers analysis By Type (Polyurethane, Epoxy, Silicone, Acrylic, Others); Substrate (Concrete, Wood, Ceramic, Others); Technology (Solventborne, Waterborne, Others); Application (Residential, Non-Residential), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). Adhesives helps in bonding two materials in a way that they never separate. Similarly, the roofing adhesives helps in binding two asphalt roll roofing and styrene butadiene styrene modified bitumen all together. The roofing adhesives are available in both cold and hot form and is sold in different sizes. These adhesives provide chemical bonding and interlocking physically between two materials and also exhibit environmental resistance.
Purpose of the ReportThe report Roofing Adhesives 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.
Roofing Adhesives Market Segmentation
Type- Polyurethane
- Epoxy
- Silicone
- Acrylic
- Concrete
- Wood
- Ceramic
- Solventborne
- Waterborne
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Roofing Adhesives Market Growth Drivers- Rising Demand for Energy-Efficient Roofing Adhesives: With awareness of energy efficiency increasing day by day, roofing adhesives are gaining importance for roof insulation and sealing. Energy-efficient roofing system adhesives enhance thermal performance, save energy costs, and meet the sustainability building standards. The demand for innovative as well as eco-friendly adhesives for roofing has increased.
- Growth in Flat and Green Roofs Boosts Adhesive Demand: Flat, green roofs are becoming increasingly popular in cities owing to their aesthetic and environmental benefits. At present, roofing systems, that are likely to involve membranes, insulation, and other materials, demand high-performance adhesives specifically tailored for such applications.
- Advancements in Adhesive Performance Drive Market Growth: Good curing speed, ease of application, and greater bonding strength have enhanced adhesive performance to the point that it is possible to apply roof adhesives more efficiently and reliably. Innovations that make application easier for the contractor and minimize demands for additional tools or heating systems are some factors that promote increased usage of roofing adhesives.
- Advancements in High-Performance, Weather-Resistant Adhesives: Novel high-strength, weather-resistant, and low-VOC adhesives are newer advanced roofing adhesive technologies that are advancing the market. They have improved strength and performance for roofing systems in extreme weather conditions and thus more readily accepted by builders and homeowners.
- Sustainability Driving Adoption of Eco-Friendly Adhesives: As the sustainable construction practice gathers momentum, the construction industry is using increasingly environmental-friendly roofing materials and adhesives. Among such environmentally friendly types of adhesives, water-based adhesives are widely recognized in the market and are fast catching up since they have a lesser environmental impact compared with conventional solvent-based products.
- DIY Trends Fuel Growth in Residential Roofing Adhesives: The Do-It-Yourself phenomenon in the home improvement arena is forcing more homeowners to opt for roofing adhesives in low scale house remodeling. The roofing adhesives provide flexibility for easy installation as well as repair work of various types of roofing materials, shingles, and tiles. This factor is also contributing to growth in the residential segment.
- Global Construction and Renovation Boosting Roofing Adhesives Demand: The increasing construction and renovation activities across all parts of the world are a significant driver of the roofing adhesives market. Since residential, commercial, and industrial buildings are being either built or renovated, there is an ever-rising demand for high-performance adhesives for attaching roofing materials such as shingles, tiles, and membranes.
- Housing and Commercial Roofing Demands Fuel Market Growth: Increasing needs for housing and commercial roofing solutions force market growth for roofing adhesives. Roofing systems for new construction and extensive reconstruction require adhesives highly, as these enhance bonding between different roofing materials, such as membranes, tiles, and insulation, thus continuing to drive demand in the adhesive market.
- Extreme Weather Conditions Driving Stronger Roofing Adhesives: The rapid increase in extreme weather conditions, like torrential rains, hurricanes, and high winds, makes roofing much more intense and rigorous. As such, the rising need for longer roof performance under such conditions results in a relative demand for sturdier and stronger roofing adhesives that provide better bonding strength, adhesion, and waterproofing.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Roofing Adhesives 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 Roofing Adhesives 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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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
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to country scope.
Frequently Asked Questions
The Asia Pacific market is expected to account for the highest CAGR during the forecast period attributed to the growing residential construction projects in the region.
The residential application segment accounted for the largest market share in 2023
Growing renovations is a key driver in the market
The 3M Company, Arkema S.A, Dove Technology, GAF Materials Corporation, H.B. Fuller Company, Henkel AG and Co. KGaA, Henry Company LLC, Johns Manville, Sika AG, are some of the key players in the market.
The Roofing Adhesives Market is estimated to witness a CAGR of 6% from 2023 to 2031
Growing popularity of green roofs is an emerging trend in the market
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Roofing Adhesives Market - By Type
1.3.2Roofing Adhesives Market - By Substrate
1.3.3Roofing Adhesives Market - By Technology
1.3.4Roofing Adhesives Market - By Application
1.3.5Roofing Adhesives Market - By Region
1.3.5.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.ROOFING ADHESIVES MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.EXPERT OPINIONS
5.ROOFING ADHESIVES 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.ROOFING ADHESIVES MARKET - GLOBAL MARKET ANALYSIS
6.1.ROOFING ADHESIVES - GLOBAL MARKET OVERVIEW
6.2.ROOFING ADHESIVES - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.ROOFING ADHESIVES MARKET - REVENUE AND FORECASTS TO 2028 " TYPE
7.1.OVERVIEW
7.2.TYPE MARKET FORECASTS AND ANALYSIS
7.3.POLYURETHANE
7.3.1.Overview
7.3.2.Polyurethane Market Forecast and Analysis
7.4.EPOXY
7.4.1.Overview
7.4.2.Epoxy Market Forecast and Analysis
7.5.SILICONE
7.5.1.Overview
7.5.2.Silicone Market Forecast and Analysis
7.6.ACRYLIC
7.6.1.Overview
7.6.2.Acrylic Market Forecast and Analysis
7.7.OTHERS
7.7.1.Overview
7.7.2.Others Market Forecast and Analysis
8.ROOFING ADHESIVES MARKET - REVENUE AND FORECASTS TO 2028 " SUBSTRATE
8.1.OVERVIEW
8.2.SUBSTRATE MARKET FORECASTS AND ANALYSIS
8.3.CONCRETE
8.3.1.Overview
8.3.2.Concrete Market Forecast and Analysis
8.4.WOOD
8.4.1.Overview
8.4.2.Wood Market Forecast and Analysis
8.5.CERAMIC
8.5.1.Overview
8.5.2.Ceramic Market Forecast and Analysis
8.6.OTHERS
8.6.1.Overview
8.6.2.Others Market Forecast and Analysis
9.ROOFING ADHESIVES MARKET - REVENUE AND FORECASTS TO 2028 " TECHNOLOGY
9.1.OVERVIEW
9.2.TECHNOLOGY MARKET FORECASTS AND ANALYSIS
9.3.SOLVENTBORNE
9.3.1.Overview
9.3.2.Solventborne Market Forecast and Analysis
9.4.WATERBORNE
9.4.1.Overview
9.4.2.Waterborne Market Forecast and Analysis
9.5.OTHERS
9.5.1.Overview
9.5.2.Others Market Forecast and Analysis
10.ROOFING ADHESIVES MARKET - REVENUE AND FORECASTS TO 2028 " APPLICATION
10.1.OVERVIEW
10.2.APPLICATION MARKET FORECASTS AND ANALYSIS
10.3.RESIDENTIAL
10.3.1.Overview
10.3.2.Residential Market Forecast and Analysis
10.4.NON-RESIDENTIAL
10.4.1.Overview
10.4.2.Non-Residential Market Forecast and Analysis
11.ROOFING ADHESIVES MARKET REVENUE AND FORECASTS TO 2028 " GEOGRAPHICAL ANALYSIS
11.1.NORTH AMERICA
11.1.1North America Roofing Adhesives Market Overview
11.1.2North America Roofing Adhesives Market Forecasts and Analysis
11.1.3North America Roofing Adhesives Market Forecasts and Analysis - By Type
11.1.4North America Roofing Adhesives Market Forecasts and Analysis - By Substrate
11.1.5North America Roofing Adhesives Market Forecasts and Analysis - By Technology
11.1.6North America Roofing Adhesives Market Forecasts and Analysis - By Application
11.1.7North America Roofing Adhesives Market Forecasts and Analysis - By Countries
11.1.7.1United States Roofing Adhesives Market
11.1.7.1.1United States Roofing Adhesives Market by Type
11.1.7.1.2United States Roofing Adhesives Market by Substrate
11.1.7.1.3United States Roofing Adhesives Market by Technology
11.1.7.1.4United States Roofing Adhesives Market by Application
11.1.7.2Canada Roofing Adhesives Market
11.1.7.2.1Canada Roofing Adhesives Market by Type
11.1.7.2.2Canada Roofing Adhesives Market by Substrate
11.1.7.2.3Canada Roofing Adhesives Market by Technology
11.1.7.2.4Canada Roofing Adhesives Market by Application
11.1.7.3Mexico Roofing Adhesives Market
11.1.7.3.1Mexico Roofing Adhesives Market by Type
11.1.7.3.2Mexico Roofing Adhesives Market by Substrate
11.1.7.3.3Mexico Roofing Adhesives Market by Technology
11.1.7.3.4Mexico Roofing Adhesives Market by Application
11.2.EUROPE
11.2.1Europe Roofing Adhesives Market Overview
11.2.2Europe Roofing Adhesives Market Forecasts and Analysis
11.2.3Europe Roofing Adhesives Market Forecasts and Analysis - By Type
11.2.4Europe Roofing Adhesives Market Forecasts and Analysis - By Substrate
11.2.5Europe Roofing Adhesives Market Forecasts and Analysis - By Technology
11.2.6Europe Roofing Adhesives Market Forecasts and Analysis - By Application
11.2.7Europe Roofing Adhesives Market Forecasts and Analysis - By Countries
11.2.7.1Germany Roofing Adhesives Market
11.2.7.1.1Germany Roofing Adhesives Market by Type
11.2.7.1.2Germany Roofing Adhesives Market by Substrate
11.2.7.1.3Germany Roofing Adhesives Market by Technology
11.2.7.1.4Germany Roofing Adhesives Market by Application
11.2.7.2France Roofing Adhesives Market
11.2.7.2.1France Roofing Adhesives Market by Type
11.2.7.2.2France Roofing Adhesives Market by Substrate
11.2.7.2.3France Roofing Adhesives Market by Technology
11.2.7.2.4France Roofing Adhesives Market by Application
11.2.7.3Italy Roofing Adhesives Market
11.2.7.3.1Italy Roofing Adhesives Market by Type
11.2.7.3.2Italy Roofing Adhesives Market by Substrate
11.2.7.3.3Italy Roofing Adhesives Market by Technology
11.2.7.3.4Italy Roofing Adhesives Market by Application
11.2.7.4United Kingdom Roofing Adhesives Market
11.2.7.4.1United Kingdom Roofing Adhesives Market by Type
11.2.7.4.2United Kingdom Roofing Adhesives Market by Substrate
11.2.7.4.3United Kingdom Roofing Adhesives Market by Technology
11.2.7.4.4United Kingdom Roofing Adhesives Market by Application
11.2.7.5Russia Roofing Adhesives Market
11.2.7.5.1Russia Roofing Adhesives Market by Type
11.2.7.5.2Russia Roofing Adhesives Market by Substrate
11.2.7.5.3Russia Roofing Adhesives Market by Technology
11.2.7.5.4Russia Roofing Adhesives Market by Application
11.2.7.6Rest of Europe Roofing Adhesives Market
11.2.7.6.1Rest of Europe Roofing Adhesives Market by Type
11.2.7.6.2Rest of Europe Roofing Adhesives Market by Substrate
11.2.7.6.3Rest of Europe Roofing Adhesives Market by Technology
11.2.7.6.4Rest of Europe Roofing Adhesives Market by Application
11.3.ASIA-PACIFIC
11.3.1Asia-Pacific Roofing Adhesives Market Overview
11.3.2Asia-Pacific Roofing Adhesives Market Forecasts and Analysis
11.3.3Asia-Pacific Roofing Adhesives Market Forecasts and Analysis - By Type
11.3.4Asia-Pacific Roofing Adhesives Market Forecasts and Analysis - By Substrate
11.3.5Asia-Pacific Roofing Adhesives Market Forecasts and Analysis - By Technology
11.3.6Asia-Pacific Roofing Adhesives Market Forecasts and Analysis - By Application
11.3.7Asia-Pacific Roofing Adhesives Market Forecasts and Analysis - By Countries
11.3.7.1Australia Roofing Adhesives Market
11.3.7.1.1Australia Roofing Adhesives Market by Type
11.3.7.1.2Australia Roofing Adhesives Market by Substrate
11.3.7.1.3Australia Roofing Adhesives Market by Technology
11.3.7.1.4Australia Roofing Adhesives Market by Application
11.3.7.2China Roofing Adhesives Market
11.3.7.2.1China Roofing Adhesives Market by Type
11.3.7.2.2China Roofing Adhesives Market by Substrate
11.3.7.2.3China Roofing Adhesives Market by Technology
11.3.7.2.4China Roofing Adhesives Market by Application
11.3.7.3India Roofing Adhesives Market
11.3.7.3.1India Roofing Adhesives Market by Type
11.3.7.3.2India Roofing Adhesives Market by Substrate
11.3.7.3.3India Roofing Adhesives Market by Technology
11.3.7.3.4India Roofing Adhesives Market by Application
11.3.7.4Japan Roofing Adhesives Market
11.3.7.4.1Japan Roofing Adhesives Market by Type
11.3.7.4.2Japan Roofing Adhesives Market by Substrate
11.3.7.4.3Japan Roofing Adhesives Market by Technology
11.3.7.4.4Japan Roofing Adhesives Market by Application
11.3.7.5South Korea Roofing Adhesives Market
11.3.7.5.1South Korea Roofing Adhesives Market by Type
11.3.7.5.2South Korea Roofing Adhesives Market by Substrate
11.3.7.5.3South Korea Roofing Adhesives Market by Technology
11.3.7.5.4South Korea Roofing Adhesives Market by Application
11.3.7.6Rest of Asia-Pacific Roofing Adhesives Market
11.3.7.6.1Rest of Asia-Pacific Roofing Adhesives Market by Type
11.3.7.6.2Rest of Asia-Pacific Roofing Adhesives Market by Substrate
11.3.7.6.3Rest of Asia-Pacific Roofing Adhesives Market by Technology
11.3.7.6.4Rest of Asia-Pacific Roofing Adhesives Market by Application
11.4.MIDDLE EAST AND AFRICA
11.4.1Middle East and Africa Roofing Adhesives Market Overview
11.4.2Middle East and Africa Roofing Adhesives Market Forecasts and Analysis
11.4.3Middle East and Africa Roofing Adhesives Market Forecasts and Analysis - By Type
11.4.4Middle East and Africa Roofing Adhesives Market Forecasts and Analysis - By Substrate
11.4.5Middle East and Africa Roofing Adhesives Market Forecasts and Analysis - By Technology
11.4.6Middle East and Africa Roofing Adhesives Market Forecasts and Analysis - By Application
11.4.7Middle East and Africa Roofing Adhesives Market Forecasts and Analysis - By Countries
11.4.7.1South Africa Roofing Adhesives Market
11.4.7.1.1South Africa Roofing Adhesives Market by Type
11.4.7.1.2South Africa Roofing Adhesives Market by Substrate
11.4.7.1.3South Africa Roofing Adhesives Market by Technology
11.4.7.1.4South Africa Roofing Adhesives Market by Application
11.4.7.2Saudi Arabia Roofing Adhesives Market
11.4.7.2.1Saudi Arabia Roofing Adhesives Market by Type
11.4.7.2.2Saudi Arabia Roofing Adhesives Market by Substrate
11.4.7.2.3Saudi Arabia Roofing Adhesives Market by Technology
11.4.7.2.4Saudi Arabia Roofing Adhesives Market by Application
11.4.7.3U.A.E Roofing Adhesives Market
11.4.7.3.1U.A.E Roofing Adhesives Market by Type
11.4.7.3.2U.A.E Roofing Adhesives Market by Substrate
11.4.7.3.3U.A.E Roofing Adhesives Market by Technology
11.4.7.3.4U.A.E Roofing Adhesives Market by Application
11.4.7.4Rest of Middle East and Africa Roofing Adhesives Market
11.4.7.4.1Rest of Middle East and Africa Roofing Adhesives Market by Type
11.4.7.4.2Rest of Middle East and Africa Roofing Adhesives Market by Substrate
11.4.7.4.3Rest of Middle East and Africa Roofing Adhesives Market by Technology
11.4.7.4.4Rest of Middle East and Africa Roofing Adhesives Market by Application
11.5.SOUTH AND CENTRAL AMERICA
11.5.1South and Central America Roofing Adhesives Market Overview
11.5.2South and Central America Roofing Adhesives Market Forecasts and Analysis
11.5.3South and Central America Roofing Adhesives Market Forecasts and Analysis - By Type
11.5.4South and Central America Roofing Adhesives Market Forecasts and Analysis - By Substrate
11.5.5South and Central America Roofing Adhesives Market Forecasts and Analysis - By Technology
11.5.6South and Central America Roofing Adhesives Market Forecasts and Analysis - By Application
11.5.7South and Central America Roofing Adhesives Market Forecasts and Analysis - By Countries
11.5.7.1Brazil Roofing Adhesives Market
11.5.7.1.1Brazil Roofing Adhesives Market by Type
11.5.7.1.2Brazil Roofing Adhesives Market by Substrate
11.5.7.1.3Brazil Roofing Adhesives Market by Technology
11.5.7.1.4Brazil Roofing Adhesives Market by Application
11.5.7.2Argentina Roofing Adhesives Market
11.5.7.2.1Argentina Roofing Adhesives Market by Type
11.5.7.2.2Argentina Roofing Adhesives Market by Substrate
11.5.7.2.3Argentina Roofing Adhesives Market by Technology
11.5.7.2.4Argentina Roofing Adhesives Market by Application
11.5.7.3Rest of South and Central America Roofing Adhesives Market
11.5.7.3.1Rest of South and Central America Roofing Adhesives Market by Type
11.5.7.3.2Rest of South and Central America Roofing Adhesives Market by Substrate
11.5.7.3.3Rest of South and Central America Roofing Adhesives Market by Technology
11.5.7.3.4Rest of South and Central America Roofing Adhesives Market by Application
12.INDUSTRY LANDSCAPE
12.1.MERGERS AND ACQUISITIONS
12.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3.NEW PRODUCT LAUNCHES
12.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13.ROOFING ADHESIVES MARKET, KEY COMPANY PROFILES
13.1.THE 3M COMPANY
13.1.1.Key Facts
13.1.2.Business Description
13.1.3.Products and Services
13.1.4.Financial Overview
13.1.5.SWOT Analysis
13.1.6.Key Developments
13.2.ARKEMA S.A
13.2.1.Key Facts
13.2.2.Business Description
13.2.3.Products and Services
13.2.4.Financial Overview
13.2.5.SWOT Analysis
13.2.6.Key Developments
13.3.DOVE TECHNOLOGY
13.3.1.Key Facts
13.3.2.Business Description
13.3.3.Products and Services
13.3.4.Financial Overview
13.3.5.SWOT Analysis
13.3.6.Key Developments
13.4.GAF MATERIALS CORPORATION
13.4.1.Key Facts
13.4.2.Business Description
13.4.3.Products and Services
13.4.4.Financial Overview
13.4.5.SWOT Analysis
13.4.6.Key Developments
13.5.H.B. FULLER COMPANY
13.5.1.Key Facts
13.5.2.Business Description
13.5.3.Products and Services
13.5.4.Financial Overview
13.5.5.SWOT Analysis
13.5.6.Key Developments
13.6.HENKEL AG AND CO. KGAA
13.6.1.Key Facts
13.6.2.Business Description
13.6.3.Products and Services
13.6.4.Financial Overview
13.6.5.SWOT Analysis
13.6.6.Key Developments
13.7.HENRY COMPANY LLC
13.7.1.Key Facts
13.7.2.Business Description
13.7.3.Products and Services
13.7.4.Financial Overview
13.7.5.SWOT Analysis
13.7.6.Key Developments
13.8.JOHNS MANVILLE
13.8.1.Key Facts
13.8.2.Business Description
13.8.3.Products and Services
13.8.4.Financial Overview
13.8.5.SWOT Analysis
13.8.6.Key Developments
13.9.SIKA AG
13.9.1.Key Facts
13.9.2.Business Description
13.9.3.Products and Services
13.9.4.Financial Overview
13.9.5.SWOT Analysis
13.9.6.Key Developments
13.10.THE DOW CHEMICAL COMPANY
13.10.1.Key Facts
13.10.2.Business Description
13.10.3.Products and Services
13.10.4.Financial Overview
13.10.5.SWOT Analysis
13.10.6.Key Developments
14.APPENDIX
14.1.ABOUT THE INSIGHT PARTNERS
14.2.GLOSSARY OF TERMS
1. The 3M Company
2. Arkema S.A
3. Dove Technology
4. GAF Materials Corporation
5. H.B. Fuller Company
6. Henkel AG and Co. KGaA
7. Henry Company LLC
8. Johns Manville
9. Sika AG
10. The Dow Chemical Company
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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