Specialty Adhesives Market Report (2021-2031) | The Insight Partners
The Specialty Adhesives Market is expected to register a CAGR of 4.8% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by material (epoxy, acrylic, urethane, silicones, and others). The report further presents an analysis based on the end-use industry (building and construction, automotive, aerospace and defense, medical, packaging, 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 Specialty 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.
Specialty Adhesives Market Segmentation
Material- Epoxy
- Acrylic
- Urethane
- Silicones
- Building and Construction
- Automotive
- Aerospace and Defense
- Medical
- Packaging
Strategic Insights
Specialty Adhesives Market Growth Drivers- Growth in Automotive and Aerospace Industries: A major growth contributor to the specialty adhesives market is the increased use of lightweight, high-performance materials in automotive and aerospace industries. Manufacturers are looking into advanced materials such as composites, lightweight metals, and plastics to satisfy fuel efficiency standards and reduce emissions. The corresponding use of specialty adhesives will be necessary for bonding these materials, which requires strong adhesion without creating significant weight. This is an important application in the automobile sector because it ensures that fewer vehicle weights enhance fuel efficiency and performance. Specialty adhesives in the aerospace industry help bond composite materials, which are lighter, stronger, and more technologically advanced than most metals, but which ensure greater fuel efficiency and structural integrity.
- Expansion of the Electronics Industry: Strong growth of electronics, such as cell phones, wearables, and electric vehicles, is highly accelerating the demand for specialty adhesives. Such adhesives are used in assembly processes that require precise bonding to be tough without jeopardizing the final performance of the product. For example, specialty adhesives can be used in screen bonding, attachment of sensors, and component assembly in applications like electronics where heat resistance, electrical conductivity, or flexibility might be critical. With growth and increased dynamics in the electronics world, with the introduction of 5G and IoT, specialty adhesives will remain a key factor in the process of making high-performance devices.
- Sustainability and Eco-Friendly Solutions: With the ever-evolving nature of the need across sectors for more eco-friendly and sustainable solutions, adhesives are no exception. Manufacturers are now looking for specialty adhesives that contain less volatile organic compounds, free from harmful chemicals, and renewable resources. The regulations are becoming tougher, mainly in the automotive packaging and construction industries, with demands for more stringent environmental and health requirements on adhesives. With both consumer and regulatory bodies giving priority to sustainability as a requirement, specialty adhesives are witnessing rising demand for bio-based, recyclable, and non-toxic adhesives.
- Smart Adhesives and Multi-Functional Properties: The need for sophisticated functional properties, such as self-healing, pressure sensitivity, and high conductivity has been significant in demanding smart adhesives. Since these show a change in their environment, they can be used optimally in the most technologically advanced industries, such as electronics and healthcare. For instance, some adhesives can heal themselves when they receive some damage at that particular moment, thereby lengthening the life of the product and subsequently cutting down on replacements. Conductive adhesives are also utilized in electronic devices to provide trusted and efficient contacts among different components. Advancements in these multi-function adhesives are also opening new applications in the market.
- Hot Melt Adhesives: Hot melt adhesives and PSAs, such as in packaging, automotive, and construction applications, are in higher demand by the market. Hot melt adhesives have fast set times, are simple to apply, and require maximum bonding strength; therefore, they serve as excellent adhesives for production lines in the usage of packaging and assembling. PSAs can stick to surfaces without the requirement for heat or solvents, which increases their popularity in automotive trim, medical devices, and tapes. There is further integration of these adhesives in high-speed manufacturing operations, and it exemplifies a greater trend towards efficiency and convenience in the industrial processes.
- Sustainable Packaging and Eco-Friendly Adhesives: A significant transformation is taking place in the packaging industry, as now it makes increasing efforts to put sustainability forward. Part of this development is the production of adhesives that not only are environmentally friendly but also, for example, bond with the new recyclable materials, such as bio-based plastics, paper, and cardboard. Given the need for companies to cut plastic waste and increase the recyclability of their products, specialty adhesives designed for use in sustainable packaging are in high demand. For instance, adhesives with the ability to disassemble easily for recycling purposes or those that strengthen and enhance biodegradable packaging material are fast becoming market-favorable products.
- Electric Vehicles (EVs): Electric vehicles, increasingly gaining growing markets, promise a strong marketplace for specialty adhesives. Light materials such as composites and aluminum need to be bonded to reduce the weight and increase the efficiency of the vehicle. Batteries, interior products, and electronic systems require adhesives in which heat resistance, electrical conductivity, and strength play an important role. While electrification is increasingly becoming the focus at the global level, the need for specialty adhesives in terms of applications for EV will continue and thereby represent a growing market for adhesive companies.
- Healthcare and Medical Devices: Healthcare and medical devices represent vast opportunities for specialty adhesives. The adhesives for medical devices must comply with very stringent regulatory requirements, ensuring dependable bonding properties that are biocompatible and resistant to sterilization for various applications, such as wound dressings, transdermal patches, diagnostic test kits, and surgical instruments. The trend for fewer invasive surgeries and wearables and increasing demand for products in home healthcare products will have a bearing on the demand for specialty medical-grade adhesives.
- Construction Industry: The construction industry closely approaches realizing some of the biggest opportunities connected with specialty adhesives, including flooring, tiling, insulation, and facade bonding. As the world goes gradually greener in building practices, materials in construction are changing rapidly, coupled with a requirement for finding those adhesives that are strong but environmentally in character. Specialty adhesives are being developed for building construction and repair applications, where wood, glass, ceramics, or composites can be combined with high-performance ease of application over more conventional bonding agents. Advanced adhesives, which will perform to meet or exceed performance, environmental, and regulatory expectations, will be in even higher demand driven by growing worldwide construction activity.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Specialty 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 Specialty 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.
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- 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
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to country scope.
Frequently Asked Questions
The Specialty Adhesives Market is estimated to witness a CAGR of 4.8% from 2023 to 2031
The major factors driving the specialty adhesives market are:
1. Growing Demand for Lightweight and Durable Materials in Automotive and Aerospace.
2. Rise in Demand for Electronics and Consumer Goods.
Henkel AG and Co KGaA, Advanced Adhesive Technologies Inc, Permatex, Nexus Adhesives, Dow Inc, H.B Fuller Co, 3M Co, Specialty Adhesives and Coatings Inc, Master Bond Inc, Vitrochem Technology Pte Ltd
On the basis of geography, the specialty adhesives market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
The adoption of hot melt and pressure-sensitive adhesives is expected to be the key market trend.
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Specialty Adhesives Market - By Type
1.3.2Specialty Adhesives Market - By End use industry
1.3.3Specialty Adhesives Market - By Region
1.3.3.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.SPECIALTY ADHESIVES MARKET L and SCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.EXPERT OPINIONS
5.SPECIALTY 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.SPECIALTY ADHESIVES MARKET - GLOBAL MARKET ANALYSIS
6.1.SPECIALTY ADHESIVES - GLOBAL MARKET OVERVIEW
6.2.SPECIALTY ADHESIVES - GLOBAL MARKET and FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.SPECIALTY ADHESIVES MARKET - REVENUE and FORECASTS TO 2028 - TYPE
7.1.OVERVIEW
7.2.TYPE MARKET FORECASTS and ANALYSIS
7.3.CYANOACRYLATES
7.3.1.Overview
7.3.2.Cyanoacrylates Market Forecast and Analysis
7.4.POLYVINYL ACETATE
7.4.1.Overview
7.4.2.Polyvinyl Acetate Market Forecast and Analysis
7.5.POLYURETHANES
7.5.1.Overview
7.5.2.Polyurethanes Market Forecast and Analysis
7.6.ACRYLIC
7.6.1.Overview
7.6.2.Acrylic Market Forecast and Analysis
7.7.OTHER
7.7.1.Overview
7.7.2.Other Market Forecast and Analysis
8.SPECIALTY ADHESIVES MARKET - REVENUE and FORECASTS TO 2028 - END USE INDUSTRY
8.1.OVERVIEW
8.2.END USE INDUSTRY MARKET FORECASTS and ANALYSIS
8.3.AUTOMOTIVE
8.3.1.Overview
8.3.2.Automotive Market Forecast and Analysis
8.4.AEROSPACE
8.4.1.Overview
8.4.2.Aerospace Market Forecast and Analysis
8.5.CONSTRUCTION
8.5.1.Overview
8.5.2.Construction Market Forecast and Analysis
8.6.MARINE
8.6.1.Overview
8.6.2.Marine Market Forecast and Analysis
8.7.MEDICAL
8.7.1.Overview
8.7.2.Medical Market Forecast and Analysis
8.8.MILITARY
8.8.1.Overview
8.8.2.Military Market Forecast and Analysis
8.9.OTHER
8.9.1.Overview
8.9.2.Other Market Forecast and Analysis
9.SPECIALTY ADHESIVES MARKET REVENUE and FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1.NORTH AMERICA
9.1.1North America Specialty Adhesives Market Overview
9.1.2North America Specialty Adhesives Market Forecasts and Analysis
9.1.3North America Specialty Adhesives Market Forecasts and Analysis - By Type
9.1.4North America Specialty Adhesives Market Forecasts and Analysis - By End use industry
9.1.5North America Specialty Adhesives Market Forecasts and Analysis - By Countries
9.1.5.1Canada Specialty Adhesives Market
9.1.5.1.1Canada Specialty Adhesives Market by Type
9.1.5.1.2Canada Specialty Adhesives Market by End use industry
9.1.5.2Mexico Specialty Adhesives Market
9.1.5.2.1Mexico Specialty Adhesives Market by Type
9.1.5.2.2Mexico Specialty Adhesives Market by End use industry
9.1.5.3US Specialty Adhesives Market
9.1.5.3.1US Specialty Adhesives Market by Type
9.1.5.3.2US Specialty Adhesives Market by End use industry
9.2.EUROPE
9.2.1Europe Specialty Adhesives Market Overview
9.2.2Europe Specialty Adhesives Market Forecasts and Analysis
9.2.3Europe Specialty Adhesives Market Forecasts and Analysis - By Type
9.2.4Europe Specialty Adhesives Market Forecasts and Analysis - By End use industry
9.2.5Europe Specialty Adhesives Market Forecasts and Analysis - By Countries
9.2.5.1Germany Specialty Adhesives Market
9.2.5.1.1Germany Specialty Adhesives Market by Type
9.2.5.1.2Germany Specialty Adhesives Market by End use industry
9.2.5.2France Specialty Adhesives Market
9.2.5.2.1France Specialty Adhesives Market by Type
9.2.5.2.2France Specialty Adhesives Market by End use industry
9.2.5.3Italy Specialty Adhesives Market
9.2.5.3.1Italy Specialty Adhesives Market by Type
9.2.5.3.2Italy Specialty Adhesives Market by End use industry
9.2.5.4United Kingdom Specialty Adhesives Market
9.2.5.4.1United Kingdom Specialty Adhesives Market by Type
9.2.5.4.2United Kingdom Specialty Adhesives Market by End use industry
9.2.5.5Russia Specialty Adhesives Market
9.2.5.5.1Russia Specialty Adhesives Market by Type
9.2.5.5.2Russia Specialty Adhesives Market by End use industry
9.2.5.6Rest of Europe Specialty Adhesives Market
9.2.5.6.1Rest of Europe Specialty Adhesives Market by Type
9.2.5.6.2Rest of Europe Specialty Adhesives Market by End use industry
9.3.ASIA-PACIFIC
9.3.1Asia-Pacific Specialty Adhesives Market Overview
9.3.2Asia-Pacific Specialty Adhesives Market Forecasts and Analysis
9.3.3Asia-Pacific Specialty Adhesives Market Forecasts and Analysis - By Type
9.3.4Asia-Pacific Specialty Adhesives Market Forecasts and Analysis - By End use industry
9.3.5Asia-Pacific Specialty Adhesives Market Forecasts and Analysis - By Countries
9.3.5.1Australia Specialty Adhesives Market
9.3.5.1.1Australia Specialty Adhesives Market by Type
9.3.5.1.2Australia Specialty Adhesives Market by End use industry
9.3.5.2China Specialty Adhesives Market
9.3.5.2.1China Specialty Adhesives Market by Type
9.3.5.2.2China Specialty Adhesives Market by End use industry
9.3.5.3India Specialty Adhesives Market
9.3.5.3.1India Specialty Adhesives Market by Type
9.3.5.3.2India Specialty Adhesives Market by End use industry
9.3.5.4Japan Specialty Adhesives Market
9.3.5.4.1Japan Specialty Adhesives Market by Type
9.3.5.4.2Japan Specialty Adhesives Market by End use industry
9.3.5.5South Korea Specialty Adhesives Market
9.3.5.5.1South Korea Specialty Adhesives Market by Type
9.3.5.5.2South Korea Specialty Adhesives Market by End use industry
9.3.5.6Rest of Asia-Pacific Specialty Adhesives Market
9.3.5.6.1Rest of Asia-Pacific Specialty Adhesives Market by Type
9.3.5.6.2Rest of Asia-Pacific Specialty Adhesives Market by End use industry
9.4.MIDDLE EAST and AFRICA
9.4.1Middle East and Africa Specialty Adhesives Market Overview
9.4.2Middle East and Africa Specialty Adhesives Market Forecasts and Analysis
9.4.3Middle East and Africa Specialty Adhesives Market Forecasts and Analysis - By Type
9.4.4Middle East and Africa Specialty Adhesives Market Forecasts and Analysis - By End use industry
9.4.5Middle East and Africa Specialty Adhesives Market Forecasts and Analysis - By Countries
9.4.5.1South Africa Specialty Adhesives Market
9.4.5.1.1South Africa Specialty Adhesives Market by Type
9.4.5.1.2South Africa Specialty Adhesives Market by End use industry
9.4.5.2Saudi Arabia Specialty Adhesives Market
9.4.5.2.1Saudi Arabia Specialty Adhesives Market by Type
9.4.5.2.2Saudi Arabia Specialty Adhesives Market by End use industry
9.4.5.3U.A.E Specialty Adhesives Market
9.4.5.3.1U.A.E Specialty Adhesives Market by Type
9.4.5.3.2U.A.E Specialty Adhesives Market by End use industry
9.4.5.4Rest of Middle East and Africa Specialty Adhesives Market
9.4.5.4.1Rest of Middle East and Africa Specialty Adhesives Market by Type
9.4.5.4.2Rest of Middle East and Africa Specialty Adhesives Market by End use industry
9.5.SOUTH and CENTRAL AMERICA
9.5.1South and Central America Specialty Adhesives Market Overview
9.5.2South and Central America Specialty Adhesives Market Forecasts and Analysis
9.5.3South and Central America Specialty Adhesives Market Forecasts and Analysis - By Type
9.5.4South and Central America Specialty Adhesives Market Forecasts and Analysis - By End use industry
9.5.5South and Central America Specialty Adhesives Market Forecasts and Analysis - By Countries
9.5.5.1Brazil Specialty Adhesives Market
9.5.5.1.1Brazil Specialty Adhesives Market by Type
9.5.5.1.2Brazil Specialty Adhesives Market by End use industry
9.5.5.2Argentina Specialty Adhesives Market
9.5.5.2.1Argentina Specialty Adhesives Market by Type
9.5.5.2.2Argentina Specialty Adhesives Market by End use industry
9.5.5.3Rest of South and Central America Specialty Adhesives Market
9.5.5.3.1Rest of South and Central America Specialty Adhesives Market by Type
9.5.5.3.2Rest of South and Central America Specialty Adhesives Market by End use industry
10.INDUSTRY L and SCAPE
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.SPECIALTY ADHESIVES MARKET, KEY COMPANY PROFILES
11.1.ADIRONDACK SPECIALTY ADHESIVES
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.ADVANCED ADHESIVE TECHNOLOGIES, 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.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.HENKEL AG and COMPANY, KGAA
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.MASTER BOND 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.NEXUS ADHESIVES PTY LTD.
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.PERMATEX
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.SAVARE SPECIALTY ADHESIVES
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.SELLEYS
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.SPECIALTY ADHESIVES, INC.
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. Adirondack specialty adhesives
2. Advanced Adhesive Technologies, Inc.
3. Bostik
4. Henkel AG and Company, KGaA
5. Master Bond Inc.
6. Nexus Adhesives Pty Ltd.
7. Permatex
8. Savare Specialty Adhesives
9. Selleys
10. Specialty Adhesives, Inc.
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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