Silicone Elastomers Market Forecast (2024-2031)
The Silicone Elastomers Market is expected to register a CAGR of 10% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report presents analysis based on type (high temperature vulcanized, liquid silicone rubber, and room temperature vulcanized). The report is segmented by process (extrusion, injection molding, compression molding, and others). The report is segmented by end-use industry (automotive, electrical and electronics, consumer goods, building and construction, medical, 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 Elastomers 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 Elastomers Market Segmentation
Type- High Temperature Vulcanized
- Liquid Silicone Rubber
- Room Temperature Vulcanized
- Extrusion
- Injection Molding
- Compression Molding
- Automotive
- Electrical and Electronics
- Consumer Goods
- Building and Construction
- Medical
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Silicone Elastomers Market Growth Drivers- Expanding Automotive Industry and Electric Vehicles (EVs): Silicone elastomers are increasingly used in automotive applications, such as seals, gaskets, and sensors, due to their durability and ability to withstand extreme temperatures. With the rise of electric vehicles (EVs), which require materials that offer superior performance in challenging environments, the demand for silicone elastomers is expected to increase.
- Growing Demand in Medical and Healthcare Applications: Silicone elastomers are highly valued in the medical field due to their biocompatibility, flexibility, and long-lasting properties. They are used in a wide range of products, including medical devices, implants, prosthetics, and wound care products. As the global healthcare sector expands, the demand for high-quality silicone elastomers in medical applications continues to rise.
- Surge in Demand from Consumer Electronics: Silicone elastomers are widely used in consumer electronics for seals, gaskets, and vibration-damping applications. With the increasing demand for advanced and durable consumer electronics, including smartphones, wearable devices, and home appliances, the silicone elastomers market is expected to see robust growth.
- Growth in Demand for Lightweight and Durable Automotive Parts: With the automotive industry's transition toward electric vehicles (EVs), there is a growing need for lightweight materials that are durable and can withstand high temperatures. Silicone elastomers, which offer excellent flexibility, heat resistance, and strength, are becoming increasingly popular in applications such as seals, gaskets, and battery housings, particularly in EV manufacturing.
- Technological Advancements in 3D Printing and Additive Manufacturing: Silicone elastomers are increasingly being utilized in additive manufacturing and 3D printing, where precise and customizable materials are needed for prototypes and end-use parts. As 3D printing technology matures, silicone elastomers will play a more prominent role in sectors like healthcare (e.g., prosthetics), automotive, and consumer products, thanks to their high elasticity and moldability.
- Medical and Healthcare Advancements: The healthcare industry’s focus on producing biocompatible, flexible, and durable materials for medical devices and implants is driving innovation in silicone elastomers. With an aging population and increased demand for healthcare products like wearable medical devices, prosthetics, and drug delivery systems, silicone elastomers are poised to see expanded use in these high-demand, regulated markets.
- Increasing Demand from the Automotive Industry: With the automotive industry shifting toward electric vehicles (EVs) and advanced automotive technologies, the need for high-performance materials like silicone elastomers is rising. These elastomers are essential for seals, gaskets, and sensor components in EVs. The growing electric vehicle market presents significant opportunities for silicone elastomer manufacturers to provide specialized solutions for automotive applications.
- Growth in Medical Device Manufacturing: Silicone elastomers are used in a wide range of medical applications due to their biocompatibility and durability. As the global healthcare sector expands and aging populations increase, there will be greater demand for medical devices such as catheters, seals, and implants. This creates substantial growth opportunities for silicone elastomers in the medical device market.
- Advancements in 3D Printing and Additive Manufacturing: Silicone elastomers are increasingly being used in additive manufacturing (3D printing) due to their flexibility, moldability, and durability. As 3D printing technology advances, silicone elastomers can be tailored for highly specialized and custom applications, offering significant growth potential in industries such as aerospace, automotive, and consumer goods.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Silicone Elastomers 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 Elastomers 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 Silicone Elastomers Market is estimated to witness a CAGR of 10% from 2023 to 2031
Expanding automotive industry and electric vehicles (EVs) is driving the market growth.
Elkem ASA; DOW; Wacker Chemie AG; Momentive; Shin-Etsu Silicones of America, Inc.; CHT Group; Specialty Silicone Products, Inc.; REISS MANUFACTURING, INC.; Guangdong Anysil Silicone Co., Ltd.; and Shenzhen Tensan CO.,LTD. are some of the key players operating in the silicone elastomers market
Based on type, the liquid silicone rubber segment is expected to witness the fastest growth during the forecast period
Based on geography, Asia Pacific held the largest share of the silicone elastomers market, due to the region's rapid industrialization and urbanization are driving demand across various sectors, including automotive, electronics, and construction. Countries like China and India are experiencing significant growth in manufacturing activities, which boosts the consumption of silicone elastomers.
Growth in demand for lightweight and durable automotive Parts is expected to be the key market trends.
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 Silicone Elastomers Market - By Type
1.3.2 Silicone Elastomers Market - By End-Use Industry
1.3.3 Silicone Elastomers Market - By Region
1.3.3.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. SILICONE ELASTOMERS 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. SILICONE ELASTOMERS 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. SILICONE ELASTOMERS MARKET - GLOBAL MARKET ANALYSIS
6.1. SILICONE ELASTOMERS - GLOBAL MARKET OVERVIEW
6.2. SILICONE ELASTOMERS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SILICONE ELASTOMERS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. HIGH TEMPERATURE VULCANIZED/HIGH CONSISTENCY RUBBER (HTV)
7.3.1. Overview
7.3.2. High Temperature Vulcanized/High Consistency Rubber (HTV) Market Forecast and Analysis
7.4. LIQUID SILICONE RUBBER (LSR)
7.4.1. Overview
7.4.2. Liquid Silicone Rubber (LSR) Market Forecast and Analysis
7.5. ROOM TEMPERATURE VULCANIZED(RTV)
7.5.1. Overview
7.5.2. Room Temperature Vulcanized(RTV) Market Forecast and Analysis
8. SILICONE ELASTOMERS MARKET - REVENUE AND FORECASTS TO 2028 - END-USE INDUSTRY
8.1. OVERVIEW
8.2. END-USE INDUSTRY MARKET FORECASTS AND ANALYSIS
8.3. AUTOMOTIVE AND TRANSPORTATION
8.3.1. Overview
8.3.2. Automotive and Transportation Market Forecast and Analysis
8.4. ELECTRICAL AND ELECTRONICS
8.4.1. Overview
8.4.2. Electrical and Electronics Market Forecast and Analysis
8.5. HEALTHCARE
8.5.1. Overview
8.5.2. Healthcare Market Forecast and Analysis
8.6. CONSUMER GOODS
8.6.1. Overview
8.6.2. Consumer Goods 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. SILICONE ELASTOMERS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Silicone Elastomers Market Overview
9.1.2 North America Silicone Elastomers Market Forecasts and Analysis
9.1.3 North America Silicone Elastomers Market Forecasts and Analysis - By Type
9.1.4 North America Silicone Elastomers Market Forecasts and Analysis - By End-Use Industry
9.1.5 North America Silicone Elastomers Market Forecasts and Analysis - By Countries
9.1.5.1 United States Silicone Elastomers Market
9.1.5.1.1 United States Silicone Elastomers Market by Type
9.1.5.1.2 United States Silicone Elastomers Market by End-Use Industry
9.1.5.2 Canada Silicone Elastomers Market
9.1.5.2.1 Canada Silicone Elastomers Market by Type
9.1.5.2.2 Canada Silicone Elastomers Market by End-Use Industry
9.1.5.3 Mexico Silicone Elastomers Market
9.1.5.3.1 Mexico Silicone Elastomers Market by Type
9.1.5.3.2 Mexico Silicone Elastomers Market by End-Use Industry
9.2. EUROPE
9.2.1 Europe Silicone Elastomers Market Overview
9.2.2 Europe Silicone Elastomers Market Forecasts and Analysis
9.2.3 Europe Silicone Elastomers Market Forecasts and Analysis - By Type
9.2.4 Europe Silicone Elastomers Market Forecasts and Analysis - By End-Use Industry
9.2.5 Europe Silicone Elastomers Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Silicone Elastomers Market
9.2.5.1.1 Germany Silicone Elastomers Market by Type
9.2.5.1.2 Germany Silicone Elastomers Market by End-Use Industry
9.2.5.2 France Silicone Elastomers Market
9.2.5.2.1 France Silicone Elastomers Market by Type
9.2.5.2.2 France Silicone Elastomers Market by End-Use Industry
9.2.5.3 Italy Silicone Elastomers Market
9.2.5.3.1 Italy Silicone Elastomers Market by Type
9.2.5.3.2 Italy Silicone Elastomers Market by End-Use Industry
9.2.5.4 United Kingdom Silicone Elastomers Market
9.2.5.4.1 United Kingdom Silicone Elastomers Market by Type
9.2.5.4.2 United Kingdom Silicone Elastomers Market by End-Use Industry
9.2.5.5 Russia Silicone Elastomers Market
9.2.5.5.1 Russia Silicone Elastomers Market by Type
9.2.5.5.2 Russia Silicone Elastomers Market by End-Use Industry
9.2.5.6 Rest of Europe Silicone Elastomers Market
9.2.5.6.1 Rest of Europe Silicone Elastomers Market by Type
9.2.5.6.2 Rest of Europe Silicone Elastomers Market by End-Use Industry
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Silicone Elastomers Market Overview
9.3.2 Asia-Pacific Silicone Elastomers Market Forecasts and Analysis
9.3.3 Asia-Pacific Silicone Elastomers Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Silicone Elastomers Market Forecasts and Analysis - By End-Use Industry
9.3.5 Asia-Pacific Silicone Elastomers Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Silicone Elastomers Market
9.3.5.1.1 Australia Silicone Elastomers Market by Type
9.3.5.1.2 Australia Silicone Elastomers Market by End-Use Industry
9.3.5.2 China Silicone Elastomers Market
9.3.5.2.1 China Silicone Elastomers Market by Type
9.3.5.2.2 China Silicone Elastomers Market by End-Use Industry
9.3.5.3 India Silicone Elastomers Market
9.3.5.3.1 India Silicone Elastomers Market by Type
9.3.5.3.2 India Silicone Elastomers Market by End-Use Industry
9.3.5.4 Japan Silicone Elastomers Market
9.3.5.4.1 Japan Silicone Elastomers Market by Type
9.3.5.4.2 Japan Silicone Elastomers Market by End-Use Industry
9.3.5.5 South Korea Silicone Elastomers Market
9.3.5.5.1 South Korea Silicone Elastomers Market by Type
9.3.5.5.2 South Korea Silicone Elastomers Market by End-Use Industry
9.3.5.6 Rest of Asia-Pacific Silicone Elastomers Market
9.3.5.6.1 Rest of Asia-Pacific Silicone Elastomers Market by Type
9.3.5.6.2 Rest of Asia-Pacific Silicone Elastomers Market by End-Use Industry
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Silicone Elastomers Market Overview
9.4.2 Middle East and Africa Silicone Elastomers Market Forecasts and Analysis
9.4.3 Middle East and Africa Silicone Elastomers Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Silicone Elastomers Market Forecasts and Analysis - By End-Use Industry
9.4.5 Middle East and Africa Silicone Elastomers Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Silicone Elastomers Market
9.4.5.1.1 South Africa Silicone Elastomers Market by Type
9.4.5.1.2 South Africa Silicone Elastomers Market by End-Use Industry
9.4.5.2 Saudi Arabia Silicone Elastomers Market
9.4.5.2.1 Saudi Arabia Silicone Elastomers Market by Type
9.4.5.2.2 Saudi Arabia Silicone Elastomers Market by End-Use Industry
9.4.5.3 U.A.E Silicone Elastomers Market
9.4.5.3.1 U.A.E Silicone Elastomers Market by Type
9.4.5.3.2 U.A.E Silicone Elastomers Market by End-Use Industry
9.4.5.4 Rest of Middle East and Africa Silicone Elastomers Market
9.4.5.4.1 Rest of Middle East and Africa Silicone Elastomers Market by Type
9.4.5.4.2 Rest of Middle East and Africa Silicone Elastomers Market by End-Use Industry
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Silicone Elastomers Market Overview
9.5.2 South and Central America Silicone Elastomers Market Forecasts and Analysis
9.5.3 South and Central America Silicone Elastomers Market Forecasts and Analysis - By Type
9.5.4 South and Central America Silicone Elastomers Market Forecasts and Analysis - By End-Use Industry
9.5.5 South and Central America Silicone Elastomers Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Silicone Elastomers Market
9.5.5.1.1 Brazil Silicone Elastomers Market by Type
9.5.5.1.2 Brazil Silicone Elastomers Market by End-Use Industry
9.5.5.2 Argentina Silicone Elastomers Market
9.5.5.2.1 Argentina Silicone Elastomers Market by Type
9.5.5.2.2 Argentina Silicone Elastomers Market by End-Use Industry
9.5.5.3 Rest of South and Central America Silicone Elastomers Market
9.5.5.3.1 Rest of South and Central America Silicone Elastomers Market by Type
9.5.5.3.2 Rest of South and Central America Silicone Elastomers Market by End-Use Industry
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 ELASTOMERS MARKET, KEY COMPANY PROFILES
11.1. CHINA NATIONAL BLUESTAR (GROUP) CO, LTD.
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. E. I. DU PONT DE NEMOURS AND COMPANY
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. KCC CORPORATION
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. MESGO S.P.A. (HEXPOL)
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. MOMENTIVE PERFORMANCE MATERIALS INC.
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. REISS MANUFACTURING, 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. SHIN-ETSU CHEMICAL CO., LTD.
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. SPECIALTY SILICONE PRODUCTS, 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. WACKER CHEMIE AG
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. ZHEJIANG XINAN CHEMICAL INDUSTRIAL GROUP CO.,LTD
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
- China National BlueStar (Group) Co, Ltd.
- E. I. du Pont de Nemours and Company
- KCC Corporation
- MESGO S.p.A. (HEXPOL)
- Momentive Performance Materials Inc.
- Reiss Manufacturing, Inc.
- Shin-Etsu Chemical Co., Ltd.
- Specialty Silicone Products, Inc.
- Wacker Chemie AG
- Zhejiang Xinan Chemical Industrial Group Co., Ltd
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