Specialty Silica Market [2021-2031] - Size, Share, and Analysis
The Specialty Silica Market is expected to register a CAGR of 6.4% 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 product type (precipitated silica, silica gel, fused silica, colloidal silica, and fumed silica). The report further presents an analysis based on the application (rubber, agrochemicals, food, personal care, paints and coatings, 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 Silica 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 Silica Market Segmentation
Product Type- Precipitated Silica
- Silica Gel
- Fused Silica
- Colloidal Silica
- Fumed Silica
- Rubber
- Agrochemicals
- Food
- Personal Care
- Paints and Coatings
Strategic Insights
Specialty Silica Market Growth Drivers- Rising Demand for Specialty Silica in the Automotive Industry: Specialty silica is the high-performance materials demand in the automobile industry. Specialty silica is utilized in applications such as tires, coatings, and rubber components in automotive. In tire production, silica is used instead of carbon black since it offers better fuel efficiency and reduces rolling resistance and wet traction. This is likely to increase with the rise in the use of fuel-efficient technology by the automotive industry, electric cars, and overall performance enhancement, especially in tire production.
- Growth of Specialty Silica in Personal Care and Cosmetics: The specialty silica market is growing and expanding with the personal care and cosmetics industry. The specialty silica acts as a thickening agent, an anti-caking agent, and a texture modifier in products like lotions, shampoos, toothpaste, and cosmetics-thereby using it very heavily. Premium, high-quality, and natural cosmetic formulations have gained immense popularity among consumers, thereby driving the demand for specialty silica in personal care products. Its use as a gelling agent to provide a matte finish, control the absorption of oil, and enhance product stability, among other beauty-care uses, has led to its use and contribution towards the market growth.
- Specialty Silica’s Critical Role in Electronics and Semiconductor Applications: Specialty silica is a critical material in the electronics industry and specially finds wide application in semiconductor, display, and printed circuit board (PCB) applications. Silica finds an application primarily because of superior insulation properties, which provide an environment of reliable performance for electronic components. Its significance is intensifying with increasing electronic integration, providing more compact components with higher performance. In addition to that, a surge in demand for consumer electronics, including smartphones, tablets, and wearables, with increasing 5G technology importance, is driving such a trend.
- Sustainability and Environmentally Friendly Specialty Silica Production: Developing sustainably and environmentally friendly specialty silicas is concerning. Manufacturers are increasingly turning to renewable sources or adopting greener production methods to minimize the impact of silica production on the environment. For instance, natural bio-based silica from plant-based materials such as rice husk ash is fast becoming a popular, sustainable alternative to the traditional synthetic silicas. This has the general trend in industries to reduce their carbon footprint in view of the enactment of stricter environmental laws and to meet the increasing consumer demand for green-products.
- Emerging Use of Specialty Silica in 3D Printing and Additive Manufacturing: The Specialty silica utilization in 3D printing and additive manufacturing is on its way to emerging as an important market trend. Silica-based materials are used in the 3D-printing of parts in aerospace, automotive, and healthcare industries. Its resistivity against high temperatures, durability, and great structural strength make silica the most suitable for producing high-performance, complex geometries when 3D printing. Because additive manufacturing is increasingly advancing and more industries use 3D printing to prototype and produce products, it is likely that the demand for silicon-based printing materials will also increase.
- Growing Demand for Specialty Silica in the Oil and Gas Industry: Specialty silica is gaining market share in the oil and gas industry for use in the applications of drilling fluids, hydraulic fracturing (fracking), and wellbore stability. Silica-based additives improve the efficiencies of drilling operations, enhance the strengths of cementing materials, and help avoid corrosion in pipelines. Rising global energy consumption and increasing unconventional oil and gas production, such as shale oil, will drive demand for specialty silica in higher-performance applications. Increasing demand for these high-performance applications is likely to accelerate the market for silica in the oil and gas sector, given the increasing popularity of fracking and enhanced oil recovery methods.
- Electric Vehicle Growth Drives Demand for Specialty Silica in Tire Production: Growth in electric vehicles will be a substantial opportunity for the specialty silica market, mainly in tire production. It is used in EV tires to reduce rolling resistance, which goes straight to lower energy consumption and increases electric vehicle range. With a growing trend towards EV adoption across the globe, specialty silica-based demand in tire applications will increase, especially the high-performance energy-efficient tires specially designed for EVs, with the focus being given by auto manufacturers in areas of sustainability and performance.
- Opportunities for Specialty Silica in the Construction and Infrastructure Sectors: Specialty silica is being increasingly used in construction, particularly in high-performance concrete, sealants, adhesives, and coatings. Silica can increase the strength and toughness of concrete while increasing resistance to heat. Such characteristics make it a very important material in infrastructure projects. With construction at the core of urbanization, increased investments in infrastructure, and advancements made in the area of green building technologies, specialty silica producers have enormous opportunities. Some new channels of growth may include potential innovative silica-based product solutions for high-performance concrete or eco-friendly construction products.
- Expanding Applications of Specialty Silica in Healthcare and Medical Devices: Specialty silica also finds new applications in health care, which includes medical device drug delivery systems, and diagnostics. Silica, having biocompatibility and enhancing the stability of pharmaceuticals, is useful in the formulation of drugs, like tablets for oral use and controlled-release drugs. Beyond glass and ceramics, silica is also used in the production of medical-grade coatings and as a filler in the fabrication of implants and prosthetic medical devices. As this demand for high-end healthcare solutions and medical devices continues to grow, specialty silica markets represent an upside in that very lucrative space.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Specialty Silica 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 Silica 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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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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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 Specialty Silica Market is estimated to witness a CAGR of 6.4% from 2023 to 2031
The major factors driving the specialty silica market are:
1. Increasing Demand from the Automotive Industry.
2. Rising Demand for High-Performance Materials in Electronics.
AkzoNobel NV, Cabot Corp, Evonik Industries AG, Solvay SA, Kemira Oyj, Oriental Silicas Corp, PPG Industries Inc, W R Grace and Co, Tokuyama Corp, and Wacker Chemie AG
On the basis of geography, the specialty silica 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 growing use of silica in 3D printing 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
1.3.1 Specialty Silica Market - By Product
1.3.2 Specialty Silica Market - By Application
1.3.3 Specialty Silica Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SPECIALTY SILICA 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. SPECIALTY SILICA 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 SILICA MARKET - GLOBAL MARKET ANALYSIS
6.1. SPECIALTY SILICA - GLOBAL MARKET OVERVIEW
6.2. SPECIALTY SILICA - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SPECIALTY SILICA MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. PRECIPITATED SILICA
7.3.1. Overview
7.3.2. Precipitated Silica Market Forecast and Analysis
7.4. SILICA GEL
7.4.1. Overview
7.4.2. Silica Gel Market Forecast and Analysis
7.5. FUSED SILICA
7.5.1. Overview
7.5.2. Fused Silica Market Forecast and Analysis
7.6. COLLOIDAL SILICA
7.6.1. Overview
7.6.2. Colloidal Silica Market Forecast and Analysis
7.7. FUMED SILICA
7.7.1. Overview
7.7.2. Fumed Silica Market Forecast and Analysis
8. SPECIALTY SILICA MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. RUBBER
8.3.1. Overview
8.3.2. Rubber Market Forecast and Analysis
8.4. AGROCHEMICALS
8.4.1. Overview
8.4.2. Agrochemicals Market Forecast and Analysis
8.5. ORAL CARE
8.5.1. Overview
8.5.2. Oral Care Market Forecast and Analysis
8.6. FOOD
8.6.1. Overview
8.6.2. Food Market Forecast and Analysis
8.7. DESSICANTS
8.7.1. Overview
8.7.2. Dessicants Market Forecast and Analysis
8.8. PAINTS AND COATINGS
8.8.1. Overview
8.8.2. Paints and Coatings Market Forecast and Analysis
8.9. OTHERS
8.9.1. Overview
8.9.2. Others Market Forecast and Analysis
9. SPECIALTY SILICA MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Specialty Silica Market Overview
9.1.2 North America Specialty Silica Market Forecasts and Analysis
9.1.3 North America Specialty Silica Market Forecasts and Analysis - By Product
9.1.4 North America Specialty Silica Market Forecasts and Analysis - By Application
9.1.5 North America Specialty Silica Market Forecasts and Analysis - By Countries
9.1.5.1 United States Specialty Silica Market
9.1.5.1.1 United States Specialty Silica Market by Product
9.1.5.1.2 United States Specialty Silica Market by Application
9.1.5.2 Canada Specialty Silica Market
9.1.5.2.1 Canada Specialty Silica Market by Product
9.1.5.2.2 Canada Specialty Silica Market by Application
9.1.5.3 Mexico Specialty Silica Market
9.1.5.3.1 Mexico Specialty Silica Market by Product
9.1.5.3.2 Mexico Specialty Silica Market by Application
9.2. EUROPE
9.2.1 Europe Specialty Silica Market Overview
9.2.2 Europe Specialty Silica Market Forecasts and Analysis
9.2.3 Europe Specialty Silica Market Forecasts and Analysis - By Product
9.2.4 Europe Specialty Silica Market Forecasts and Analysis - By Application
9.2.5 Europe Specialty Silica Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Specialty Silica Market
9.2.5.1.1 Germany Specialty Silica Market by Product
9.2.5.1.2 Germany Specialty Silica Market by Application
9.2.5.2 France Specialty Silica Market
9.2.5.2.1 France Specialty Silica Market by Product
9.2.5.2.2 France Specialty Silica Market by Application
9.2.5.3 Italy Specialty Silica Market
9.2.5.3.1 Italy Specialty Silica Market by Product
9.2.5.3.2 Italy Specialty Silica Market by Application
9.2.5.4 United Kingdom Specialty Silica Market
9.2.5.4.1 United Kingdom Specialty Silica Market by Product
9.2.5.4.2 United Kingdom Specialty Silica Market by Application
9.2.5.5 Russia Specialty Silica Market
9.2.5.5.1 Russia Specialty Silica Market by Product
9.2.5.5.2 Russia Specialty Silica Market by Application
9.2.5.6 Rest of Europe Specialty Silica Market
9.2.5.6.1 Rest of Europe Specialty Silica Market by Product
9.2.5.6.2 Rest of Europe Specialty Silica Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Specialty Silica Market Overview
9.3.2 Asia-Pacific Specialty Silica Market Forecasts and Analysis
9.3.3 Asia-Pacific Specialty Silica Market Forecasts and Analysis - By Product
9.3.4 Asia-Pacific Specialty Silica Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Specialty Silica Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Specialty Silica Market
9.3.5.1.1 Australia Specialty Silica Market by Product
9.3.5.1.2 Australia Specialty Silica Market by Application
9.3.5.2 China Specialty Silica Market
9.3.5.2.1 China Specialty Silica Market by Product
9.3.5.2.2 China Specialty Silica Market by Application
9.3.5.3 India Specialty Silica Market
9.3.5.3.1 India Specialty Silica Market by Product
9.3.5.3.2 India Specialty Silica Market by Application
9.3.5.4 Japan Specialty Silica Market
9.3.5.4.1 Japan Specialty Silica Market by Product
9.3.5.4.2 Japan Specialty Silica Market by Application
9.3.5.5 South Korea Specialty Silica Market
9.3.5.5.1 South Korea Specialty Silica Market by Product
9.3.5.5.2 South Korea Specialty Silica Market by Application
9.3.5.6 Rest of Asia-Pacific Specialty Silica Market
9.3.5.6.1 Rest of Asia-Pacific Specialty Silica Market by Product
9.3.5.6.2 Rest of Asia-Pacific Specialty Silica Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Specialty Silica Market Overview
9.4.2 Middle East and Africa Specialty Silica Market Forecasts and Analysis
9.4.3 Middle East and Africa Specialty Silica Market Forecasts and Analysis - By Product
9.4.4 Middle East and Africa Specialty Silica Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Specialty Silica Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Specialty Silica Market
9.4.5.1.1 South Africa Specialty Silica Market by Product
9.4.5.1.2 South Africa Specialty Silica Market by Application
9.4.5.2 Saudi Arabia Specialty Silica Market
9.4.5.2.1 Saudi Arabia Specialty Silica Market by Product
9.4.5.2.2 Saudi Arabia Specialty Silica Market by Application
9.4.5.3 U.A.E Specialty Silica Market
9.4.5.3.1 U.A.E Specialty Silica Market by Product
9.4.5.3.2 U.A.E Specialty Silica Market by Application
9.4.5.4 Rest of Middle East and Africa Specialty Silica Market
9.4.5.4.1 Rest of Middle East and Africa Specialty Silica Market by Product
9.4.5.4.2 Rest of Middle East and Africa Specialty Silica Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Specialty Silica Market Overview
9.5.2 South and Central America Specialty Silica Market Forecasts and Analysis
9.5.3 South and Central America Specialty Silica Market Forecasts and Analysis - By Product
9.5.4 South and Central America Specialty Silica Market Forecasts and Analysis - By Application
9.5.5 South and Central America Specialty Silica Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Specialty Silica Market
9.5.5.1.1 Brazil Specialty Silica Market by Product
9.5.5.1.2 Brazil Specialty Silica Market by Application
9.5.5.2 Argentina Specialty Silica Market
9.5.5.2.1 Argentina Specialty Silica Market by Product
9.5.5.2.2 Argentina Specialty Silica Market by Application
9.5.5.3 Rest of South and Central America Specialty Silica Market
9.5.5.3.1 Rest of South and Central America Specialty Silica Market by Product
9.5.5.3.2 Rest of South and Central America Specialty Silica 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. SPECIALTY SILICA MARKET, KEY COMPANY PROFILES
11.1. AKZONOBEL N.V.
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. CABOT CORPORATION
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. EVONIK INDUSTRIES
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. IMERYS S.A.
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. KEMIRA OYJ.
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. ORIENTAL SILICAS CORPORATION
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. PPG INDUSTRIES, 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. SOLVAY S.A.
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. TOSOH 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. WACKER CHEMIE 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. AkzoNobel N.V.
2. Cabot Corporation
3. Evonik Industries
4. Imerys S.A.
5. Kemira Oyj.
6. Oriental Silicas Corporation
7. PPG Industries, Inc.
8. Solvay S.A.
9. TOSOH Corporation
10. Wacker Chemie 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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