Solvent-based inks Market Size and CAGR by 2031
The Solvent-based inks Market is expected to register a CAGR of 4.7% 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 printing technology (lithographic, gravure, flexographic, screen-printing, letterpress, and digital). The report further presents an analysis based on the application (label and packaging, commercial printing, publication, and others). 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 Solvent-based inks 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.
Solvent-based inks Market Segmentation
Printing Technology- Lithographic
- Gravure
- Flexographic
- Screen-printing
- Letterpress
- Digital
- Label and Packaging
- Commercial Printing
- Publication
Strategic Insights
Solvent-based inks Market Growth Drivers- Packaging Industry (Food, Beverages, and Consumer Goods): The primary sector that is fueling the solvent-based inks market is packing, particularly in packaging foods and beverages as well as consumer goods. Solvent-based inks have become popular due to their ability to provide rich colors, excellent adhesion, and durability to a wide range of substrates including plastic films, metal, as well as paperboard. Simultaneously, the demand for packaged goods is continually going up as the growth in e-commerce, along with consumer preference for convenient packaging, enhances the demand for superior quality, long-lasting printing solutions such as solvent-based inks.
- High-Performance Printing in Industrial Applications: Solvent-based inks have higher print quality and excellent color reproduction and allow printing onto non-porous substrates. This makes them more particularly desirable for applications requiring high-end printing. These inks dry fast, do not smudge, and retain the appearance even for the most severely harshest environmental conditions. High-performance inks are needed for packaging, signage, textiles, and graphic printing applications. In fact, the demand for this product is developing much stronger in those regions where a higher demand is experienced with regard to durability and quality of prints.
- Versatility in Printing Applications: Solvent-based inks are highly resistant and versatile and, therefore, are suited to be used in harsh industrial environments where the printed material should endure chemicals, water, temperature, and UV exposure. These inks find significant applications in the automotive, electronics, and construction industries, where durability and performance are of paramount importance. Owing to growing market demand from other segments for industrial labeling, product identification, and high-quality prints for branding purposes, the market for solvent-based inks is on the rise.
- Eco-Friendly Trends: The ink market is expanding the low-VOC and eco-friendly products. Manufacturers are driven by regulations on the environment and demand from consumers for more sustainable products. Traditional solvent-based inks have associated them with high VOCs; however, the current innovation in low-VOC formulations has enabled the brands to be environment-friendly without betraying their performance. This trend is highly prevalent in the packaging and label printing industries in view of growing concerns regarding environmental impact.
- Increasing Use of Digital Printing Technology: The increasing usage of digital printing technology is another major trend affecting the solvent-based inks market. Solvent-based inks are increasingly used in wide-format digital printing for applications such as banners, signs, and vehicle graphics. The key advantages of solvent-based digital inks are better adhesion on the many media options, fast print drying times, and the durability of long-lasting prints with maximum outdoor exposure. Advances in digital printing technology have seen increased popularity in large commercial applications as well as smaller, high-quality custom prints.
- Advanced Ink Formulations: Hybrid and UV-Curable Solutions: Ink formulations have yielded high-performance solvent-based inks that, upon curing, exhibit improved properties and can perform well on a wider range of substrates. The addition of advanced resins, pigments, and additives to inks has improved print quality, permitted faster drying, and provided greater durability. There are also UV-curable and hybrid ink formulations that constitute solvent-based inks matched with UV curing technologies, making the inks lead to faster speeds and flexibility when it comes to printing on different substrates.
- Growth in E-Commerce and Online Retail: The recent fast growth in online retail and e-commerce is, after all, an excellent opportunity for solvent-based inks in packaging. The growth of online shopping is going to impact the demand for that packaging both to deliver a working function and for aesthetic brand presentation. Solvent-based inks have the technical potential to deliver high-quality, durable prints on various kinds of packaging material including corrugated cardboard and flexible films as well as labels, thus positioning solvent-based inks well for exploiting this trend.
- Opportunities in Signage and Advertising: The Signage and Advertising sector remains an exciting opportunity for solvent-based inks, especially in outdoor and large-format applications. Solvent inks offer rich coloration, UV resistance, and durability, which well suits billboard, banners, vehicle wraps, and other outdoor forms of advertising exposed to fierce environmental factors. As is becoming increasingly the case with urbanization and advertising dollars moving outdoors and toward digital signage, growth potential in solvent-based inks exists for increasing demand in the sector.
- Growth in Asia-Pacific and Latin America: The Asia-Pacific and Latin American regions have become substantial growth markets for solvent-based inks. Areas are rapidly industrializing, urbanizing, and demanding more consumer goods create an increased demand for high-quality packaging, labeling, and printing. More specifically, the following countries hold great promise for solvent-based inks: China, India, Brazil, and Mexico-as each is constantly expanding infrastructure, manufacturing, and consumer markets. Companies that look to expand their market share may look toward the regions listed for penetrating the fast-emerging market of solvent-based inks in various applications.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Solvent-based inks 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 Solvent-based inks 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
The shift towards low-VOC and eco-friendly inks 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 solvent-based inks market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America
Siegwerk Druckfarben AG and Co KGaA, Flint Group, Dainichiseika Color and Chemicals Mfg Co Ltd, Tokyo Printing Ink Mfg Co Ltd, Sun Chemical Corp, Fujifilm Sericol India Pvt Ltd, Lawter Inc, Sakata INX Corp, and Toyo Ink SC Holdings Co Ltd
The major factors driving the solvent-based inks market are:
1. Growing Demand in Packaging Industry.
2. Superior Print Quality and Performance.
The Solvent-based inks Market is estimated to witness a CAGR of 4.7% 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 Solvent-based Inks Market - By Printing Technology
1.3.2 Solvent-based Inks Market - By Application
1.3.3 Solvent-based Inks Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SOLVENT-BASED INKS 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. SOLVENT-BASED INKS 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. SOLVENT-BASED INKS MARKET - GLOBAL MARKET ANALYSIS
6.1. SOLVENT-BASED INKS - GLOBAL MARKET OVERVIEW
6.2. SOLVENT-BASED INKS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SOLVENT-BASED INKS MARKET - REVENUE AND FORECASTS TO 2028 - PRINTING TECHNOLOGY
7.1. OVERVIEW
7.2. PRINTING TECHNOLOGY MARKET FORECASTS AND ANALYSIS
7.3. LITHOGRAPHIC
7.3.1. Overview
7.3.2. Lithographic Market Forecast and Analysis
7.4. GRAVURE
7.4.1. Overview
7.4.2. Gravure Market Forecast and Analysis
7.5. FLEXOGRAPHIC
7.5.1. Overview
7.5.2. Flexographic Market Forecast and Analysis
7.6. SCREEN-PRINTING
7.6.1. Overview
7.6.2. Screen-printing Market Forecast and Analysis
7.7. LETTERPRESS
7.7.1. Overview
7.7.2. Letterpress Market Forecast and Analysis
7.8. DIGITAL
7.8.1. Overview
7.8.2. Digital Market Forecast and Analysis
8. SOLVENT-BASED INKS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. LABEL AND PACKAGING
8.3.1. Overview
8.3.2. Label and Packaging Market Forecast and Analysis
8.4. COMMERCIAL PRINTING
8.4.1. Overview
8.4.2. Commercial Printing Market Forecast and Analysis
8.5. PUBLICATION
8.5.1. Overview
8.5.2. Publication Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. SOLVENT-BASED INKS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Solvent-based Inks Market Overview
9.1.2 North America Solvent-based Inks Market Forecasts and Analysis
9.1.3 North America Solvent-based Inks Market Forecasts and Analysis - By Printing Technology
9.1.4 North America Solvent-based Inks Market Forecasts and Analysis - By Application
9.1.5 North America Solvent-based Inks Market Forecasts and Analysis - By Countries
9.1.5.1 Canada Solvent-based Inks Market
9.1.5.1.1 Canada Solvent-based Inks Market by Printing Technology
9.1.5.1.2 Canada Solvent-based Inks Market by Application
9.1.5.2 Mexico Solvent-based Inks Market
9.1.5.2.1 Mexico Solvent-based Inks Market by Printing Technology
9.1.5.2.2 Mexico Solvent-based Inks Market by Application
9.1.5.3 US Solvent-based Inks Market
9.1.5.3.1 US Solvent-based Inks Market by Printing Technology
9.1.5.3.2 US Solvent-based Inks Market by Application
9.2. EUROPE
9.2.1 Europe Solvent-based Inks Market Overview
9.2.2 Europe Solvent-based Inks Market Forecasts and Analysis
9.2.3 Europe Solvent-based Inks Market Forecasts and Analysis - By Printing Technology
9.2.4 Europe Solvent-based Inks Market Forecasts and Analysis - By Application
9.2.5 Europe Solvent-based Inks Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Solvent-based Inks Market
9.2.5.1.1 Germany Solvent-based Inks Market by Printing Technology
9.2.5.1.2 Germany Solvent-based Inks Market by Application
9.2.5.2 France Solvent-based Inks Market
9.2.5.2.1 France Solvent-based Inks Market by Printing Technology
9.2.5.2.2 France Solvent-based Inks Market by Application
9.2.5.3 Italy Solvent-based Inks Market
9.2.5.3.1 Italy Solvent-based Inks Market by Printing Technology
9.2.5.3.2 Italy Solvent-based Inks Market by Application
9.2.5.4 United Kingdom Solvent-based Inks Market
9.2.5.4.1 United Kingdom Solvent-based Inks Market by Printing Technology
9.2.5.4.2 United Kingdom Solvent-based Inks Market by Application
9.2.5.5 Russia Solvent-based Inks Market
9.2.5.5.1 Russia Solvent-based Inks Market by Printing Technology
9.2.5.5.2 Russia Solvent-based Inks Market by Application
9.2.5.6 Rest of Europe Solvent-based Inks Market
9.2.5.6.1 Rest of Europe Solvent-based Inks Market by Printing Technology
9.2.5.6.2 Rest of Europe Solvent-based Inks Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Solvent-based Inks Market Overview
9.3.2 Asia-Pacific Solvent-based Inks Market Forecasts and Analysis
9.3.3 Asia-Pacific Solvent-based Inks Market Forecasts and Analysis - By Printing Technology
9.3.4 Asia-Pacific Solvent-based Inks Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Solvent-based Inks Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Solvent-based Inks Market
9.3.5.1.1 Australia Solvent-based Inks Market by Printing Technology
9.3.5.1.2 Australia Solvent-based Inks Market by Application
9.3.5.2 China Solvent-based Inks Market
9.3.5.2.1 China Solvent-based Inks Market by Printing Technology
9.3.5.2.2 China Solvent-based Inks Market by Application
9.3.5.3 India Solvent-based Inks Market
9.3.5.3.1 India Solvent-based Inks Market by Printing Technology
9.3.5.3.2 India Solvent-based Inks Market by Application
9.3.5.4 Japan Solvent-based Inks Market
9.3.5.4.1 Japan Solvent-based Inks Market by Printing Technology
9.3.5.4.2 Japan Solvent-based Inks Market by Application
9.3.5.5 South Korea Solvent-based Inks Market
9.3.5.5.1 South Korea Solvent-based Inks Market by Printing Technology
9.3.5.5.2 South Korea Solvent-based Inks Market by Application
9.3.5.6 Rest of Asia-Pacific Solvent-based Inks Market
9.3.5.6.1 Rest of Asia-Pacific Solvent-based Inks Market by Printing Technology
9.3.5.6.2 Rest of Asia-Pacific Solvent-based Inks Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Solvent-based Inks Market Overview
9.4.2 Middle East and Africa Solvent-based Inks Market Forecasts and Analysis
9.4.3 Middle East and Africa Solvent-based Inks Market Forecasts and Analysis - By Printing Technology
9.4.4 Middle East and Africa Solvent-based Inks Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Solvent-based Inks Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Solvent-based Inks Market
9.4.5.1.1 South Africa Solvent-based Inks Market by Printing Technology
9.4.5.1.2 South Africa Solvent-based Inks Market by Application
9.4.5.2 Saudi Arabia Solvent-based Inks Market
9.4.5.2.1 Saudi Arabia Solvent-based Inks Market by Printing Technology
9.4.5.2.2 Saudi Arabia Solvent-based Inks Market by Application
9.4.5.3 U.A.E Solvent-based Inks Market
9.4.5.3.1 U.A.E Solvent-based Inks Market by Printing Technology
9.4.5.3.2 U.A.E Solvent-based Inks Market by Application
9.4.5.4 Rest of Middle East and Africa Solvent-based Inks Market
9.4.5.4.1 Rest of Middle East and Africa Solvent-based Inks Market by Printing Technology
9.4.5.4.2 Rest of Middle East and Africa Solvent-based Inks Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Solvent-based Inks Market Overview
9.5.2 South and Central America Solvent-based Inks Market Forecasts and Analysis
9.5.3 South and Central America Solvent-based Inks Market Forecasts and Analysis - By Printing Technology
9.5.4 South and Central America Solvent-based Inks Market Forecasts and Analysis - By Application
9.5.5 South and Central America Solvent-based Inks Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Solvent-based Inks Market
9.5.5.1.1 Brazil Solvent-based Inks Market by Printing Technology
9.5.5.1.2 Brazil Solvent-based Inks Market by Application
9.5.5.2 Argentina Solvent-based Inks Market
9.5.5.2.1 Argentina Solvent-based Inks Market by Printing Technology
9.5.5.2.2 Argentina Solvent-based Inks Market by Application
9.5.5.3 Rest of South and Central America Solvent-based Inks Market
9.5.5.3.1 Rest of South and Central America Solvent-based Inks Market by Printing Technology
9.5.5.3.2 Rest of South and Central America Solvent-based Inks 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. SOLVENT-BASED INKS MARKET, KEY COMPANY PROFILES
11.1. SIEGWERK DRUCKFARBEN AG AND CO. KGAA
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. FLINT GROUP
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. DAINICHISEIKA COLOR AND CHEMICALS MFG. CO. LTD.
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. TOKYO PRINTING INK MFG. 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. SUN CHEMICAL 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. FUJIFILM SERICOL INDIA PRIVATE LIMITED
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. LAWTER INC.
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. EPTANOVA
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. SAKATA INX CORPORATION.
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. TOYO INK SC HOLDINGS 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
1. Siegwerk Druckfarben AG and Co. KGaA
2. Flint Group
3. Dainichiseika Color and Chemicals Mfg. Co. Ltd.
4. Tokyo Printing Ink Mfg. Co. Ltd.
5. Sun Chemical Corporation
6. Fujifilm Sericol India Private Limited
7. Lawter Inc.
8. Eptanova
9. Sakata INX Corporation.
10. Toyo Ink SC Holdings 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.
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