Silicone Coating Market Report (2021-2031) | The Insight Partners
The Silicone Coating 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.
The report presents analysis based on composition (silicone polymers, silicone additives, 100% silicone, and silicone water repellents). The report is segmented by technology (solvent-based, water-based, powder-based, and solventless). The report is segmented by application (paper and film release, consumer goods, construction, automotive, marine, industrial, and others). The global analysis is further broken-down at regional level and major countries. 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 and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report Silicone Coating 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.
Silicone Coating Market Segmentation
Composition- Silicone Polymers
- Silicone Additives
- 100% Silicone
- Silicone Water Repellents
- Solvent-based
- Water-based
- Powder-based
- Solventless
- Paper and Film Release
- Consumer Goods
- Construction
- Automotive
- Marine
- Industrial
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Silicone Coating Market Growth Drivers- Increasing Demand for Durable and High-Performance Materials: Silicone coatings are renowned for their exceptional heat resistance, weatherability, and chemical resistance. As industries such as automotive, construction, and aerospace demand more durable and high-performance coatings to enhance product longevity, the market for silicone coatings is expected to grow significantly. These coatings are used for protective, decorative, and functional purposes, driving their adoption.
- Expansion of Renewable Energy Applications: The solar energy sector, in particular, has significantly contributed to the growth of the silicone coating market. Silicone coatings are widely used in the production of solar panels to improve durability, performance, and resistance to UV degradation. As global efforts to transition to renewable energy sources intensify, demand for silicone coatings in solar energy applications continues to rise.
- Increased Use in Automotive and Electronics Industries: Silicone coatings are increasingly being used in automotive components, electrical and electronic devices, and cables for their excellent insulation properties, heat resistance, and weatherproofing capabilities. As the automotive industry shifts toward electric vehicles (EVs) and the electronics sector continues to innovate, silicone coatings are poised for continued demand growth.
- Increased Use in Sustainable and Green Building Materials: As the construction industry continues to move toward sustainable building materials, there is an increasing trend toward silicone-based coatings that offer better durability, energy efficiency, and environmental friendliness. Silicone coatings are being used in green building designs to provide better insulation, water resistance, and UV protection, making them a key player in eco-friendly construction.
- Growth of Smart Coatings with Embedded Technology: The demand for intelligent coatings that can respond to environmental stimuli, such as temperature and humidity, is expected to rise. Silicone coatings are increasingly being integrated with sensors, self-healing properties, or anti-corrosion functions for specialized applications in automotive, aerospace, and electronics. This trend will drive the development of advanced silicone coatings with multifunctional capabilities.
- Expansion in Renewable Energy and Solar Applications: The growing adoption of renewable energy technologies, particularly solar power, is driving demand for silicone coatings. Silicone-based coatings are used to improve the longevity and efficiency of solar panels by offering UV protection, weather resistance, and better thermal management. As the global shift towards renewable energy continues, the silicone coatings market is likely to see strong growth in this sector.
- Expansion of Solar Energy Industry: With the global shift toward renewable energy, particularly solar power, there is a growing opportunity for silicone coatings in solar panel production. Silicone coatings enhance the durability, efficiency, and weather resistance of solar panels, making them more resilient to environmental factors like UV radiation, moisture, and extreme temperatures. This trend presents a significant market opportunity, as the solar sector continues to expand.
- Increased Demand for High-Performance Coatings in Automotive Industry: The automotive industry is increasingly adopting silicone coatings for components such as bumpers, headlights, and exterior panels to enhance durability, scratch resistance, and UV protection. As electric vehicles (EVs) gain popularity, there will be an increased demand for lightweight, high-performance coatings, offering opportunities for silicone coating manufacturers to provide specialized solutions.
- Growing Focus on Eco-Friendly and Low-VOC Coatings: As environmental regulations become stricter, industries are focusing on developing and using low-VOC (volatile organic compound) and eco-friendly coatings. Silicone coatings, which are inherently low in VOCs and offer high durability, are gaining traction as a more sustainable alternative to traditional coatings. This shift toward sustainability opens new opportunities for silicone coating providers.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Silicone Coating 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 Silicone Coating 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
Increased use in sustainable and green building materials is expected to be the key market trends.
Based on geography, Asia Pacific held the largest share of the silicone coating market, as the region is a major hub for manufacturing and industrial activity, particularly in countries like China, Japan, and South Korea. These nations have robust construction, automotive, and electronics sectors that drive substantial demand for silicone coatings.
Based on composition, the silicone polymers segment is expected to witness the fastest growth during the forecast period
Increasing demand for durable and high-performance materials is driving the market growth.
Wacker Chemie AG; Shin-Etsu Chemical Co. Ltd; KCC Silicone; Dow Corning Corporation; ACC Silicones; Siltech Corporation; Bluestar Silicones; Evonik Industries AG; OMG Borchers Gmbh; and CHT Germany GmbH are some of the key players operating in the silicone coating market
The Silicone Coating Market is estimated to witness a CAGR of 6% from 2023 to 2031
1. INTRODUCTION
1. 1. SCOPE OF THE STUDY
1. 2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1. 3. MARKET SEGMENTATION
1. 3. 1 Silicone Coating Market - By Product Type
1. 3. 2 Silicone Coating Market - By Crop Type
1. 3. 3 Silicone Coating Market - By Region
1. 3. 3. 1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SILICONE COATING 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. SILICONE COATING 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. SILICONE COATING MARKET - GLOBAL MARKET ANALYSIS
6. 1. SILICONE COATING - GLOBAL MARKET OVERVIEW
6. 2. SILICONE COATING - GLOBAL MARKET AND FORECAST TO 2028
6. 3. MARKET POSITIONING/MARKET SHARE
7. SILICONE COATING MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7. 1. OVERVIEW
7. 2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7. 3. ADDITIVES
7. 3. 1. Overview
7. 3. 2. Additives Market Forecast and Analysis
7. 4. POLYMERS
7. 4. 1. Overview
7. 4. 2. Polymers Market Forecast and Analysis
7. 5. 100% SILICONE
7. 5. 1. Overview
7. 5. 2. 100% Silicone Market Forecast and Analysis
7. 6. WATER REPELLENTS SILICONE
7. 6. 1. Overview
7. 6. 2. Water Repellents Silicone Market Forecast and Analysis
7. 7. OTHERS
7. 7. 1. Overview
7. 7. 2. Others Market Forecast and Analysis
8. SILICONE COATING MARKET - REVENUE AND FORECASTS TO 2028 - CROP TYPE
8. 1. OVERVIEW
8. 2. CROP TYPE MARKET FORECASTS AND ANALYSIS
8. 3. CONSTRUCTION
8. 3. 1. Overview
8. 3. 2. Construction Market Forecast and Analysis
8. 4. AUTOMOTIVE AND TRANSPORTATION
8. 4. 1. Overview
8. 4. 2. Automotive and Transportation Market Forecast and Analysis
8. 5. ELECTRONICS
8. 5. 1. Overview
8. 5. 2. Electronics Market Forecast and Analysis
8. 6. OTHERS
8. 6. 1. Overview
8. 6. 2. Others Market Forecast and Analysis
9. SILICONE COATING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9. 1. NORTH AMERICA
9. 1. 1 North America Silicone Coating Market Overview
9. 1. 2 North America Silicone Coating Market Forecasts and Analysis
9. 1. 3 North America Silicone Coating Market Forecasts and Analysis - By Product Type
9. 1. 4 North America Silicone Coating Market Forecasts and Analysis - By Crop Type
9. 1. 5 North America Silicone Coating Market Forecasts and Analysis - By Countries
9. 1. 5. 1 United States Silicone Coating Market
9. 1. 5. 1. 1 United States Silicone Coating Market by Product Type
9. 1. 5. 1. 2 United States Silicone Coating Market by Crop Type
9. 1. 5. 2 Canada Silicone Coating Market
9. 1. 5. 2. 1 Canada Silicone Coating Market by Product Type
9. 1. 5. 2. 2 Canada Silicone Coating Market by Crop Type
9. 1. 5. 3 Mexico Silicone Coating Market
9. 1. 5. 3. 1 Mexico Silicone Coating Market by Product Type
9. 1. 5. 3. 2 Mexico Silicone Coating Market by Crop Type
9. 2. EUROPE
9. 2. 1 Europe Silicone Coating Market Overview
9. 2. 2 Europe Silicone Coating Market Forecasts and Analysis
9. 2. 3 Europe Silicone Coating Market Forecasts and Analysis - By Product Type
9. 2. 4 Europe Silicone Coating Market Forecasts and Analysis - By Crop Type
9. 2. 5 Europe Silicone Coating Market Forecasts and Analysis - By Countries
9. 2. 5. 1 Germany Silicone Coating Market
9. 2. 5. 1. 1 Germany Silicone Coating Market by Product Type
9. 2. 5. 1. 2 Germany Silicone Coating Market by Crop Type
9. 2. 5. 2 France Silicone Coating Market
9. 2. 5. 2. 1 France Silicone Coating Market by Product Type
9. 2. 5. 2. 2 France Silicone Coating Market by Crop Type
9. 2. 5. 3 Italy Silicone Coating Market
9. 2. 5. 3. 1 Italy Silicone Coating Market by Product Type
9. 2. 5. 3. 2 Italy Silicone Coating Market by Crop Type
9. 2. 5. 4 United Kingdom Silicone Coating Market
9. 2. 5. 4. 1 United Kingdom Silicone Coating Market by Product Type
9. 2. 5. 4. 2 United Kingdom Silicone Coating Market by Crop Type
9. 2. 5. 5 Russia Silicone Coating Market
9. 2. 5. 5. 1 Russia Silicone Coating Market by Product Type
9. 2. 5. 5. 2 Russia Silicone Coating Market by Crop Type
9. 2. 5. 6 Rest of Europe Silicone Coating Market
9. 2. 5. 6. 1 Rest of Europe Silicone Coating Market by Product Type
9. 2. 5. 6. 2 Rest of Europe Silicone Coating Market by Crop Type
9. 3. ASIA-PACIFIC
9. 3. 1 Asia-Pacific Silicone Coating Market Overview
9. 3. 2 Asia-Pacific Silicone Coating Market Forecasts and Analysis
9. 3. 3 Asia-Pacific Silicone Coating Market Forecasts and Analysis - By Product Type
9. 3. 4 Asia-Pacific Silicone Coating Market Forecasts and Analysis - By Crop Type
9. 3. 5 Asia-Pacific Silicone Coating Market Forecasts and Analysis - By Countries
9. 3. 5. 1 Australia Silicone Coating Market
9. 3. 5. 1. 1 Australia Silicone Coating Market by Product Type
9. 3. 5. 1. 2 Australia Silicone Coating Market by Crop Type
9. 3. 5. 2 China Silicone Coating Market
9. 3. 5. 2. 1 China Silicone Coating Market by Product Type
9. 3. 5. 2. 2 China Silicone Coating Market by Crop Type
9. 3. 5. 3 India Silicone Coating Market
9. 3. 5. 3. 1 India Silicone Coating Market by Product Type
9. 3. 5. 3. 2 India Silicone Coating Market by Crop Type
9. 3. 5. 4 Japan Silicone Coating Market
9. 3. 5. 4. 1 Japan Silicone Coating Market by Product Type
9. 3. 5. 4. 2 Japan Silicone Coating Market by Crop Type
9. 3. 5. 5 South Korea Silicone Coating Market
9. 3. 5. 5. 1 South Korea Silicone Coating Market by Product Type
9. 3. 5. 5. 2 South Korea Silicone Coating Market by Crop Type
9. 3. 5. 6 Rest of Asia-Pacific Silicone Coating Market
9. 3. 5. 6. 1 Rest of Asia-Pacific Silicone Coating Market by Product Type
9. 3. 5. 6. 2 Rest of Asia-Pacific Silicone Coating Market by Crop Type
9. 4. MIDDLE EAST AND AFRICA
9. 4. 1 Middle East and Africa Silicone Coating Market Overview
9. 4. 2 Middle East and Africa Silicone Coating Market Forecasts and Analysis
9. 4. 3 Middle East and Africa Silicone Coating Market Forecasts and Analysis - By Product Type
9. 4. 4 Middle East and Africa Silicone Coating Market Forecasts and Analysis - By Crop Type
9. 4. 5 Middle East and Africa Silicone Coating Market Forecasts and Analysis - By Countries
9. 4. 5. 1 South Africa Silicone Coating Market
9. 4. 5. 1. 1 South Africa Silicone Coating Market by Product Type
9. 4. 5. 1. 2 South Africa Silicone Coating Market by Crop Type
9. 4. 5. 2 Saudi Arabia Silicone Coating Market
9. 4. 5. 2. 1 Saudi Arabia Silicone Coating Market by Product Type
9. 4. 5. 2. 2 Saudi Arabia Silicone Coating Market by Crop Type
9. 4. 5. 3 U. A. E Silicone Coating Market
9. 4. 5. 3. 1 U. A. E Silicone Coating Market by Product Type
9. 4. 5. 3. 2 U. A. E Silicone Coating Market by Crop Type
9. 4. 5. 4 Rest of Middle East and Africa Silicone Coating Market
9. 4. 5. 4. 1 Rest of Middle East and Africa Silicone Coating Market by Product Type
9. 4. 5. 4. 2 Rest of Middle East and Africa Silicone Coating Market by Crop Type
9. 5. SOUTH AND CENTRAL AMERICA
9. 5. 1 South and Central America Silicone Coating Market Overview
9. 5. 2 South and Central America Silicone Coating Market Forecasts and Analysis
9. 5. 3 South and Central America Silicone Coating Market Forecasts and Analysis - By Product Type
9. 5. 4 South and Central America Silicone Coating Market Forecasts and Analysis - By Crop Type
9. 5. 5 South and Central America Silicone Coating Market Forecasts and Analysis - By Countries
9. 5. 5. 1 Brazil Silicone Coating Market
9. 5. 5. 1. 1 Brazil Silicone Coating Market by Product Type
9. 5. 5. 1. 2 Brazil Silicone Coating Market by Crop Type
9. 5. 5. 2 Argentina Silicone Coating Market
9. 5. 5. 2. 1 Argentina Silicone Coating Market by Product Type
9. 5. 5. 2. 2 Argentina Silicone Coating Market by Crop Type
9. 5. 5. 3 Rest of South and Central America Silicone Coating Market
9. 5. 5. 3. 1 Rest of South and Central America Silicone Coating Market by Product Type
9. 5. 5. 3. 2 Rest of South and Central America Silicone Coating Market by Crop Type
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. SILICONE COATING MARKET, KEY COMPANY PROFILES
11. 1. WACKER CHEMIE AG
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. MOMENTIVE PERFORMANCE MATERIAL INC.
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. DOW
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. SHIN-ETSU CHEMICAL CO. , LTD.
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. KCC SILICONE 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. ELKEM SILICONES
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. ACC SILICONES
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. AFCONA ADDITIVES
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. BLUESTAR SILICONES
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. HUMISEAL
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
- Wacker Chemie AG
- Momentive Performance Material Inc.
- Dow
- Shin-Etsu Chemical Co. , Ltd.
- KCC SILICONE CORPORATION
- Elkem Silicones
- ACC Silicones
- Afcona Additives
- Bluestar Silicones
- Humiseal
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