Solar Panel Adhesives Market Trends, Share, and Growth (2021-2031)
The Solar Panel Adhesives Market is expected to register a CAGR of 4.3% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by type (silicone-based, polyurethane-based, acrylic-based, epoxy-based, and others). The report further presents an analysis based on the application (residential, commercial, and industrial). The report scope covers five regions: North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America and key countries under each region. The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Solar Panel 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.
Solar Panel Adhesives Market Segmentation
Type- Silicone-based
- Polyurethane-based
- Acrylic-based
- Epoxy-based
- Residential
- Commercial
- Industrial
Strategic Insights
Solar Panel Adhesives Market Growth Drivers- Growth Drivers of the Solar Panel Adhesives Market: The major factors for the growth of the solar panel adhesives market arise from increasing attention across the world toward renewable energy, especially solar power. Across the globe, governments are implementing policies with incentives to speed up clean energy solutions, including solar panels. With an increase in demand for solar installations, the demand for high-performance adhesives to secure the bonding of solar panels to different substrates is also on the rise. The installation of solar energy is growing, thereby increasing the demand for specialty adhesives that are durable and weather-resistant while being efficient in maintaining panel integrity across variations in environmental conditions.
- Innovations in Adhesive Technologies for Higher Efficiency and Longevity: As the solar industry advances, more attention is focused on higher efficiency and longer lifespan solar panels. It is in this context that there is an ongoing innovation relating to adhesive technologies wherein new formulations improve performance. Current solar panel adhesives are bound by extreme temperatures, UV radiation, and moisture, which do not degrade over time. While it serves to enhance the durability of solar installations, such developments also ensure enhanced general performance and longevity of solar panels, which is the primary requirement for their widespread acceptance in residential and commercial fields.
- Cost Reductions in Solar Materials and Their Impact on Adhesives: The cost of solar materials has dropped dramatically over the past decade. Several factors have fueled these reductions in costs, among them economies of scale, improved manufacturing processes, and reductions in the cost of raw materials. This trend is, therefore, affecting the adhesive market since the cost-effectiveness of adhesives will determine the cost of solar panels. The ability of adhesive producers to introduce more efficient production techniques and scale up production enables them to supply solar-specific adhesives at a lower price, thus making solar installations cheaper and further improving market growth.
- Growing Demand for Environmentally Friendly Adhesives in the Solar Industry: Growing demand for more environmentally friendly adhesives with the possibility of not harming the environment in the solar industry. Pressures on the environment and increasing legislation around hazardous chemicals have pushed adhesive manufacturers to come up with low-VOC and solvent-free adhesives. In addition, most companies in the sector are now investing in bio-based adhesives from renewable sources that ultimately feed into the global sustainability objectives of the solar energy sector.
- Advanced Resin Materials Driving Adhesive Performance in Solar Panels: The advanced materials thermoplastic and thermoset resins lead in applications for solar panel adhesives. They set the standard for advanced bonding strength, flexibility in service, and resistance to environmental stresses of temperature cycling, water, and UV exposure. Higher efficiency and longer lifespans are achieved when using adhesives incorporating advanced material-based improvements in the overall structural integrity of solar panels.
- The Role of Adhesives in Building Integrated Photovoltaics (BIPV): Building Integrated Photovoltaics (BIPV) is revolutionizing the solar panel adhesive market. BIPV refers to the integration of solar cells into building materials such as windows, roofs, and facades. Such integration requires extreme specialization in adhesives, not only in terms of great strength but also in ideal integration with architectural design with no compromise. BIPV, being a developing technology especially in the urban environment, has necessitated creative adhesive solutions that can be aesthetic and functional enough to meet high demands.
- Growth Opportunities for Solar Panel Adhesives in Emerging Markets: The solar panel adhesives market has impressive growth opportunities in emerging markets. Africa, Asia-Pacific, and Latin America are the key regions. In these regions, investments in renewable energy are being undertaken to improve the rapidly increasing energy needs and reduce carbon emissions. Thus, with an increase in solar panels, the demand for adhesives will also be on the rise. Adhesive solutions tailored to specific environmental and economic conditions may open new avenues for growth.
- Sustainability and Circular Economy Opportunities in Solar Panel Recycling: A growing emphasis on sustainability and circular economy principles presents a whole new set of opportunities for companies like adhesive manufacturers in the area of solar panel recycling. With this in mind, demand is rising for technologies and methods that make it possible to dissolve and recycle components of spent solar panels at the end of their life. An area of new development might include design of solar panels that could be applied easily with adhesives that ensured easy removal at the end of their service life without damaging panels or other materials.
- Customized Adhesive Solutions for Different Types of Solar Panels: The adhesive manufacturers can also work closely with the solar panel manufacturer in developing customized adhesives specific to different forms of solar panels. For example, there are special adhesives for the application of thin-film solar panels, crystalline silicon panels, or the newer perovskite-based solar cells, among others. Therefore, the best strategy for the adhesive manufacturers would be to offer customized solutions in order to gain a competitive advantage through niche market capture.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Solar Panel 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 Solar Panel 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
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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
Shift toward eco-friendly and sustainable adhesives is expected to be the key market trend.
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
On the basis of geography, the solar panel adhesives market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America
3M Co, Dow Inc, Elkem ASA, Epic Resins, Evonik Industries AG, Good Use Hardware Co Ltd, HB Fuller Co, Henkel AG, Parker Hannifin Corp, and Tesa Tapes Inc
The major factors driving the solar panel adhesives market are:
1. Technological Advancements in Adhesive Formulations.
2. Cost Reduction and Economies of Scale in Solar Manufacturing.
The Solar Panel Adhesives Market is estimated to witness a CAGR of 4.3% 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 Solar Panel Adhesives Market - By Resin Type
1.3.2 Solar Panel Adhesives Market - By Application
1.3.3 Solar Panel Adhesives Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SOLAR PANEL ADHESIVES 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. SOLAR PANEL 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. SOLAR PANEL ADHESIVES MARKET - GLOBAL MARKET ANALYSIS
6.1. SOLAR PANEL ADHESIVES - GLOBAL MARKET OVERVIEW
6.2. SOLAR PANEL ADHESIVES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SOLAR PANEL ADHESIVES MARKET - REVENUE AND FORECASTS TO 2028 - RESIN TYPE
7.1. OVERVIEW
7.2. RESIN TYPE MARKET FORECASTS AND ANALYSIS
7.3. EPOXY
7.3.1. Overview
7.3.2. Epoxy Market Forecast and Analysis
7.4. POLYURETHANE
7.4.1. Overview
7.4.2. Polyurethane Market Forecast and Analysis
7.5. OTHERS
7.5.1. Overview
7.5.2. Others Market Forecast and Analysis
8. SOLAR PANEL ADHESIVES MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. COMMERCIAL
8.3.1. Overview
8.3.2. Commercial Market Forecast and Analysis
8.4. RESIDENTIAL
8.4.1. Overview
8.4.2. Residential Market Forecast and Analysis
8.5. INDUSTRIAL
8.5.1. Overview
8.5.2. Industrial Market Forecast and Analysis
9. SOLAR PANEL ADHESIVES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Solar Panel Adhesives Market Overview
9.1.2 North America Solar Panel Adhesives Market Forecasts and Analysis
9.1.3 North America Solar Panel Adhesives Market Forecasts and Analysis - By Resin Type
9.1.4 North America Solar Panel Adhesives Market Forecasts and Analysis - By Application
9.1.5 North America Solar Panel Adhesives Market Forecasts and Analysis - By Countries
9.1.5.1 United States Solar Panel Adhesives Market
9.1.5.1.1 United States Solar Panel Adhesives Market by Resin Type
9.1.5.1.2 United States Solar Panel Adhesives Market by Application
9.1.5.2 Canada Solar Panel Adhesives Market
9.1.5.2.1 Canada Solar Panel Adhesives Market by Resin Type
9.1.5.2.2 Canada Solar Panel Adhesives Market by Application
9.1.5.3 Mexico Solar Panel Adhesives Market
9.1.5.3.1 Mexico Solar Panel Adhesives Market by Resin Type
9.1.5.3.2 Mexico Solar Panel Adhesives Market by Application
9.2. EUROPE
9.2.1 Europe Solar Panel Adhesives Market Overview
9.2.2 Europe Solar Panel Adhesives Market Forecasts and Analysis
9.2.3 Europe Solar Panel Adhesives Market Forecasts and Analysis - By Resin Type
9.2.4 Europe Solar Panel Adhesives Market Forecasts and Analysis - By Application
9.2.5 Europe Solar Panel Adhesives Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Solar Panel Adhesives Market
9.2.5.1.1 Germany Solar Panel Adhesives Market by Resin Type
9.2.5.1.2 Germany Solar Panel Adhesives Market by Application
9.2.5.2 France Solar Panel Adhesives Market
9.2.5.2.1 France Solar Panel Adhesives Market by Resin Type
9.2.5.2.2 France Solar Panel Adhesives Market by Application
9.2.5.3 Italy Solar Panel Adhesives Market
9.2.5.3.1 Italy Solar Panel Adhesives Market by Resin Type
9.2.5.3.2 Italy Solar Panel Adhesives Market by Application
9.2.5.4 United Kingdom Solar Panel Adhesives Market
9.2.5.4.1 United Kingdom Solar Panel Adhesives Market by Resin Type
9.2.5.4.2 United Kingdom Solar Panel Adhesives Market by Application
9.2.5.5 Russia Solar Panel Adhesives Market
9.2.5.5.1 Russia Solar Panel Adhesives Market by Resin Type
9.2.5.5.2 Russia Solar Panel Adhesives Market by Application
9.2.5.6 Rest of Europe Solar Panel Adhesives Market
9.2.5.6.1 Rest of Europe Solar Panel Adhesives Market by Resin Type
9.2.5.6.2 Rest of Europe Solar Panel Adhesives Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Solar Panel Adhesives Market Overview
9.3.2 Asia-Pacific Solar Panel Adhesives Market Forecasts and Analysis
9.3.3 Asia-Pacific Solar Panel Adhesives Market Forecasts and Analysis - By Resin Type
9.3.4 Asia-Pacific Solar Panel Adhesives Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Solar Panel Adhesives Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Solar Panel Adhesives Market
9.3.5.1.1 Australia Solar Panel Adhesives Market by Resin Type
9.3.5.1.2 Australia Solar Panel Adhesives Market by Application
9.3.5.2 China Solar Panel Adhesives Market
9.3.5.2.1 China Solar Panel Adhesives Market by Resin Type
9.3.5.2.2 China Solar Panel Adhesives Market by Application
9.3.5.3 India Solar Panel Adhesives Market
9.3.5.3.1 India Solar Panel Adhesives Market by Resin Type
9.3.5.3.2 India Solar Panel Adhesives Market by Application
9.3.5.4 Japan Solar Panel Adhesives Market
9.3.5.4.1 Japan Solar Panel Adhesives Market by Resin Type
9.3.5.4.2 Japan Solar Panel Adhesives Market by Application
9.3.5.5 South Korea Solar Panel Adhesives Market
9.3.5.5.1 South Korea Solar Panel Adhesives Market by Resin Type
9.3.5.5.2 South Korea Solar Panel Adhesives Market by Application
9.3.5.6 Rest of Asia-Pacific Solar Panel Adhesives Market
9.3.5.6.1 Rest of Asia-Pacific Solar Panel Adhesives Market by Resin Type
9.3.5.6.2 Rest of Asia-Pacific Solar Panel Adhesives Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Solar Panel Adhesives Market Overview
9.4.2 Middle East and Africa Solar Panel Adhesives Market Forecasts and Analysis
9.4.3 Middle East and Africa Solar Panel Adhesives Market Forecasts and Analysis - By Resin Type
9.4.4 Middle East and Africa Solar Panel Adhesives Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Solar Panel Adhesives Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Solar Panel Adhesives Market
9.4.5.1.1 South Africa Solar Panel Adhesives Market by Resin Type
9.4.5.1.2 South Africa Solar Panel Adhesives Market by Application
9.4.5.2 Saudi Arabia Solar Panel Adhesives Market
9.4.5.2.1 Saudi Arabia Solar Panel Adhesives Market by Resin Type
9.4.5.2.2 Saudi Arabia Solar Panel Adhesives Market by Application
9.4.5.3 U.A.E Solar Panel Adhesives Market
9.4.5.3.1 U.A.E Solar Panel Adhesives Market by Resin Type
9.4.5.3.2 U.A.E Solar Panel Adhesives Market by Application
9.4.5.4 Rest of Middle East and Africa Solar Panel Adhesives Market
9.4.5.4.1 Rest of Middle East and Africa Solar Panel Adhesives Market by Resin Type
9.4.5.4.2 Rest of Middle East and Africa Solar Panel Adhesives Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Solar Panel Adhesives Market Overview
9.5.2 South and Central America Solar Panel Adhesives Market Forecasts and Analysis
9.5.3 South and Central America Solar Panel Adhesives Market Forecasts and Analysis - By Resin Type
9.5.4 South and Central America Solar Panel Adhesives Market Forecasts and Analysis - By Application
9.5.5 South and Central America Solar Panel Adhesives Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Solar Panel Adhesives Market
9.5.5.1.1 Brazil Solar Panel Adhesives Market by Resin Type
9.5.5.1.2 Brazil Solar Panel Adhesives Market by Application
9.5.5.2 Argentina Solar Panel Adhesives Market
9.5.5.2.1 Argentina Solar Panel Adhesives Market by Resin Type
9.5.5.2.2 Argentina Solar Panel Adhesives Market by Application
9.5.5.3 Rest of South and Central America Solar Panel Adhesives Market
9.5.5.3.1 Rest of South and Central America Solar Panel Adhesives Market by Resin Type
9.5.5.3.2 Rest of South and Central America Solar Panel Adhesives Market by Application
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. SOLAR PANEL ADHESIVES MARKET, KEY COMPANY PROFILES
11.1. 3M COMPANY
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. AVERY DENNISON
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. BOSTIK
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. DOW CORNING CORPORATION
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. EPIC RESINS
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. EVONIK INDUSTRIES
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. H.B. FULLER
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. HENKEL
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. SERRA GLOBAL TECHNOLOGY, S.L.
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. SIKA AG
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. 3M Company
2. Avery Dennison
3. Bostik
4. Dow Corning Corporation
5. Epic Resins
6. Evonik Industries
7. H.B. Fuller
8. Henkel
9. SERRA GLOBAL TECHNOLOGY, S.L.
10. Sika AG
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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