Spray Adhesives Market Key Findings by 2031
The Spray Adhesives Market is expected to register a CAGR of 4.7% 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 (water-based, solvent-based, hot melt, and others). The report further presents an analysis based on the application (construction, packaging, furniture, automotive and transportation, textile and leather, 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 Spray 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.
Spray Adhesives Market Segmentation
Product Type- Water-Based
- Solvent-Based
- Hot Melt
- Construction
- Packaging
- Furniture
- Automotive and Transportation
- Textile and Leather
Strategic Insights
Spray Adhesives Market Growth Drivers- Rising Demand for Spray Adhesives in Packaging and E-Commerce: Spray adhesives are amongst the most widely used adhesives nowadays, mostly in joining materials like cardboard, plastics, and other textiles, which are required in packaging and automobile applications. As e-commerce is gaining momentum, the packaging industry is also on an upswing. It is a field that requires the increasing development of new packaging solutions. Packaging is one such application where spray adhesives are used significantly for high speed with uniform coverage and firm bond formations with packaging materials.
- Advantages of Spray Adhesives Driving Market Growth: Industrial as well as consumer markets for spray adhesives are being encouraged to grow by increasing demand for convenient, easy-to-use products. Spray adhesives outperform regular adhesives because they provide quite a number of advantages: faster application, uniform coverage, less wastage, etc. In the construction, woodworking, and interior design industries, spray adhesives are a better option as they can bond materials quickly and with utmost efficiency without using clamping or pressing.
- Shift Toward Eco-Friendly, Low-VOC Spray Adhesives Due to Environmental Regulations: In addition to these, governments worldwide have increased stringent environmental laws and regulations on VOC emissions and chemical safety. This increases the demand for eco-friendly, low-VOC spray adhesives - because environmentally friendly solutions are replacing consumer and industrial use. As a result, manufacturers formulate increasing numbers of adhesives free from noxious chemicals, and water-based adhesives are becoming a significant part of the adhesives.
- Increasing Popularity of Water-Based and Low-VOC Spray Adhesives: Due to the regulatory and environmental issues applicable to it, water-based and low-VOC spray adhesives gained popularity in recent times. They bear the same robust bonding strength as their solvent-based counterparts but are regarded as more eco-friendly. The water-based adhesives are nontoxic, safer for application, and comply with strict regulations in different regions. As a result, these eco-friendly formulations gain higher popularity and track with consumer and corporate demand for the latter.
- E-Commerce and DIY Market Boosting Spray Adhesive Demand: Growing demand for spray adhesives can also be put down to the increase in e-commerce and the popularity of the DIY market. Convenience for mounting items and other crafting needs, among other things, has been led by quite convenient and versatile spray adhesives. This has been driven by the growing customers in home improvement, artistic creative work, and crafts, as well as repairs that call for some adhesives to stick materials together. Purchase convenience has further fuelled demand through online sales because spray adhesives have become a popular commodity amongst hobbyists and home renovation enthusiasts.
- Innovations in Spray Adhesive Formulations Expanding Market Opportunities: The manufacturers of spray adhesives in the market are developing high-end adhesive formulations that are innovative in providing increased bonding strength, faster drying times, and longer service lives. Highly specialized adhesives have been developed for specific applications such as automotive, textiles, and electronics due to advances in technology. Beyond that lies the introduction of all-purpose spray adhesives that will bond to a variety of materials - wood, metal, fabric, foam, etc. Again, this expands opportunities for use in both industrial and consumer product sectors.
- Spray Adhesives in Construction and Related Applications: These two industries represent some of the most significant markets for spray adhesives, mainly owing to their ability to bond materials that range from wood, foam, and fabric to flooring. Spray adhesives are increasingly becoming used in applications such as wall coverings, insulation installation, carpeting, and cabinetry where speedy adhesion is required. Given the likelihood of a continuing increase in the construction market, especially in developing economies, spray adhesive manufacturers will foresee an appreciable demand to address this growing marketplace.
- Growing Use of Spray Adhesives in Electronics and Packaging: The electronics industry is one large and growing application for spray adhesives, especially in the assembly of PCBs and printed circuit boards, where precision with non-damaging bonding solutions is required. They are attached to circuit boards without causing heat or pressure damage. Spray adhesives are growing popular in the packaging industry as they deliver secure, tamper-evident packaging and enhanced presentation of the product, thus another growth area, specifically with the growth in the e-commerce market and development in customized packaging requirements.
- Rising Demand for Spray Adhesives in the Automotive Industry: Spray adhesives will greatly be in demand for the automotive sector as the vehicles become light, thus offering better fuel efficiency and a more reduced emissions cycle. They have increasingly replaced conventional mechanical fasteners to bond lightweight materials such as composites, plastics, and metals in automobile manufacturing. Lightweighting in the coming years will remain a major trend, and this opens a lot of room for manufacturers of spray adhesives to share in this trend in automobile applications, including body panels, trims, and interior parts. These two industries represent some of the most significant markets for spray adhesives, mainly owing to their ability to bond materials that range from wood, foam, and fabric to flooring. Spray adhesives are increasingly becoming used in applications such as wall coverings, insulation installation, carpeting, and cabinetry where speedy adhesion is required. Given the likelihood of a continuing increase in the construction market, especially in developing economies, spray adhesive manufacturers will foresee an appreciable demand to address this growing marketplace.
- The electronics industry is one large and growing application for spray adhesives, especially in the assembly of PCBs and printed circuit boards, where precision with non-damaging bonding solutions is required. They are attached to circuit boards without causing heat or pressure damage. Spray adhesives are growing popular in the packaging industry as they deliver secure, tamper-evident packaging and enhanced presentation of the product, thus another growth area, specifically with the growth in the e-commerce market and development in customized packaging requirements.
- Spray adhesives will greatly be in demand for the automotive sector as the vehicles become light, thus offering better fuel efficiency and a more reduced emissions cycle. They have increasingly replaced conventional mechanical fasteners to bond lightweight materials such as composites, plastics, and metals in automobile manufacturing. Lightweighting in the coming years will remain a major trend, and this opens a lot of room for manufacturers of spray adhesives to share in this trend in automobile applications, including body panels, trims, and interior parts.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Spray 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 Spray 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.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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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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- 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 Spray Adhesives Market is estimated to witness a CAGR of 4.7% from 2023 to 2031
The major factors driving the spray adhesives market are:
1. Rising Demand in Packaging and Automotive Industries.
2. Increased Focus on Convenience and User-Friendly Products.
3M Co, Henkel Corp, H.B. Fuller Co, BASF SE, Avery Dennison Corp, Uniseal Inc, Eastman Chemical Co, Sika AG, and ND Industries
On the basis of geography, the spray 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 growth of e-commerce and the DIY market 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 Spray Adhesives Market - By Chemistry
1.3.2 Spray Adhesives Market - By Type
1.3.3 Spray Adhesives Market - By End-Use Industry
1.3.4 Spray Adhesives Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SPRAY 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. SPRAY 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. SPRAY ADHESIVES MARKET - GLOBAL MARKET ANALYSIS
6.1. SPRAY ADHESIVES - GLOBAL MARKET OVERVIEW
6.2. SPRAY ADHESIVES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SPRAY ADHESIVES MARKET - REVENUE AND FORECASTS TO 2028 - CHEMISTRY
7.1. OVERVIEW
7.2. CHEMISTRY 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. SYNTHETIC RUBBER
7.5.1. Overview
7.5.2. Synthetic Rubber Market Forecast and Analysis
7.6. VINYL ACETATE ETHYLENE
7.6.1. Overview
7.6.2. Vinyl Acetate Ethylene Market Forecast and Analysis
8. SPRAY ADHESIVES MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
8.1. OVERVIEW
8.2. TYPE MARKET FORECASTS AND ANALYSIS
8.3. SOLVENT-BASED
8.3.1. Overview
8.3.2. Solvent-Based Market Forecast and Analysis
8.4. WATER-BASED
8.4.1. Overview
8.4.2. Water-Based Market Forecast and Analysis
8.5. HOT MELT
8.5.1. Overview
8.5.2. Hot Melt Market Forecast and Analysis
9. SPRAY ADHESIVES MARKET - REVENUE AND FORECASTS TO 2028 - END-USE INDUSTRY
9.1. OVERVIEW
9.2. END-USE INDUSTRY MARKET FORECASTS AND ANALYSIS
9.3. TRANSPORTATION
9.3.1. Overview
9.3.2. Transportation Market Forecast and Analysis
9.4. CONSTRUCTION
9.4.1. Overview
9.4.2. Construction Market Forecast and Analysis
9.5. FURNITURE
9.5.1. Overview
9.5.2. Furniture Market Forecast and Analysis
9.6. OTHER
9.6.1. Overview
9.6.2. Other Market Forecast and Analysis
10. SPRAY ADHESIVES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Spray Adhesives Market Overview
10.1.2 North America Spray Adhesives Market Forecasts and Analysis
10.1.3 North America Spray Adhesives Market Forecasts and Analysis - By Chemistry
10.1.4 North America Spray Adhesives Market Forecasts and Analysis - By Type
10.1.5 North America Spray Adhesives Market Forecasts and Analysis - By End-Use Industry
10.1.6 North America Spray Adhesives Market Forecasts and Analysis - By Countries
10.1.6.1 United States Spray Adhesives Market
10.1.6.1.1 United States Spray Adhesives Market by Chemistry
10.1.6.1.2 United States Spray Adhesives Market by Type
10.1.6.1.3 United States Spray Adhesives Market by End-Use Industry
10.1.6.2 Canada Spray Adhesives Market
10.1.6.2.1 Canada Spray Adhesives Market by Chemistry
10.1.6.2.2 Canada Spray Adhesives Market by Type
10.1.6.2.3 Canada Spray Adhesives Market by End-Use Industry
10.1.6.3 Mexico Spray Adhesives Market
10.1.6.3.1 Mexico Spray Adhesives Market by Chemistry
10.1.6.3.2 Mexico Spray Adhesives Market by Type
10.1.6.3.3 Mexico Spray Adhesives Market by End-Use Industry
10.2. EUROPE
10.2.1 Europe Spray Adhesives Market Overview
10.2.2 Europe Spray Adhesives Market Forecasts and Analysis
10.2.3 Europe Spray Adhesives Market Forecasts and Analysis - By Chemistry
10.2.4 Europe Spray Adhesives Market Forecasts and Analysis - By Type
10.2.5 Europe Spray Adhesives Market Forecasts and Analysis - By End-Use Industry
10.2.6 Europe Spray Adhesives Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Spray Adhesives Market
10.2.6.1.1 Germany Spray Adhesives Market by Chemistry
10.2.6.1.2 Germany Spray Adhesives Market by Type
10.2.6.1.3 Germany Spray Adhesives Market by End-Use Industry
10.2.6.2 France Spray Adhesives Market
10.2.6.2.1 France Spray Adhesives Market by Chemistry
10.2.6.2.2 France Spray Adhesives Market by Type
10.2.6.2.3 France Spray Adhesives Market by End-Use Industry
10.2.6.3 Italy Spray Adhesives Market
10.2.6.3.1 Italy Spray Adhesives Market by Chemistry
10.2.6.3.2 Italy Spray Adhesives Market by Type
10.2.6.3.3 Italy Spray Adhesives Market by End-Use Industry
10.2.6.4 United Kingdom Spray Adhesives Market
10.2.6.4.1 United Kingdom Spray Adhesives Market by Chemistry
10.2.6.4.2 United Kingdom Spray Adhesives Market by Type
10.2.6.4.3 United Kingdom Spray Adhesives Market by End-Use Industry
10.2.6.5 Russia Spray Adhesives Market
10.2.6.5.1 Russia Spray Adhesives Market by Chemistry
10.2.6.5.2 Russia Spray Adhesives Market by Type
10.2.6.5.3 Russia Spray Adhesives Market by End-Use Industry
10.2.6.6 Rest of Europe Spray Adhesives Market
10.2.6.6.1 Rest of Europe Spray Adhesives Market by Chemistry
10.2.6.6.2 Rest of Europe Spray Adhesives Market by Type
10.2.6.6.3 Rest of Europe Spray Adhesives Market by End-Use Industry
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Spray Adhesives Market Overview
10.3.2 Asia-Pacific Spray Adhesives Market Forecasts and Analysis
10.3.3 Asia-Pacific Spray Adhesives Market Forecasts and Analysis - By Chemistry
10.3.4 Asia-Pacific Spray Adhesives Market Forecasts and Analysis - By Type
10.3.5 Asia-Pacific Spray Adhesives Market Forecasts and Analysis - By End-Use Industry
10.3.6 Asia-Pacific Spray Adhesives Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Spray Adhesives Market
10.3.6.1.1 Australia Spray Adhesives Market by Chemistry
10.3.6.1.2 Australia Spray Adhesives Market by Type
10.3.6.1.3 Australia Spray Adhesives Market by End-Use Industry
10.3.6.2 China Spray Adhesives Market
10.3.6.2.1 China Spray Adhesives Market by Chemistry
10.3.6.2.2 China Spray Adhesives Market by Type
10.3.6.2.3 China Spray Adhesives Market by End-Use Industry
10.3.6.3 India Spray Adhesives Market
10.3.6.3.1 India Spray Adhesives Market by Chemistry
10.3.6.3.2 India Spray Adhesives Market by Type
10.3.6.3.3 India Spray Adhesives Market by End-Use Industry
10.3.6.4 Japan Spray Adhesives Market
10.3.6.4.1 Japan Spray Adhesives Market by Chemistry
10.3.6.4.2 Japan Spray Adhesives Market by Type
10.3.6.4.3 Japan Spray Adhesives Market by End-Use Industry
10.3.6.5 South Korea Spray Adhesives Market
10.3.6.5.1 South Korea Spray Adhesives Market by Chemistry
10.3.6.5.2 South Korea Spray Adhesives Market by Type
10.3.6.5.3 South Korea Spray Adhesives Market by End-Use Industry
10.3.6.6 Rest of Asia-Pacific Spray Adhesives Market
10.3.6.6.1 Rest of Asia-Pacific Spray Adhesives Market by Chemistry
10.3.6.6.2 Rest of Asia-Pacific Spray Adhesives Market by Type
10.3.6.6.3 Rest of Asia-Pacific Spray Adhesives Market by End-Use Industry
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Spray Adhesives Market Overview
10.4.2 Middle East and Africa Spray Adhesives Market Forecasts and Analysis
10.4.3 Middle East and Africa Spray Adhesives Market Forecasts and Analysis - By Chemistry
10.4.4 Middle East and Africa Spray Adhesives Market Forecasts and Analysis - By Type
10.4.5 Middle East and Africa Spray Adhesives Market Forecasts and Analysis - By End-Use Industry
10.4.6 Middle East and Africa Spray Adhesives Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Spray Adhesives Market
10.4.6.1.1 South Africa Spray Adhesives Market by Chemistry
10.4.6.1.2 South Africa Spray Adhesives Market by Type
10.4.6.1.3 South Africa Spray Adhesives Market by End-Use Industry
10.4.6.2 Saudi Arabia Spray Adhesives Market
10.4.6.2.1 Saudi Arabia Spray Adhesives Market by Chemistry
10.4.6.2.2 Saudi Arabia Spray Adhesives Market by Type
10.4.6.2.3 Saudi Arabia Spray Adhesives Market by End-Use Industry
10.4.6.3 U.A.E Spray Adhesives Market
10.4.6.3.1 U.A.E Spray Adhesives Market by Chemistry
10.4.6.3.2 U.A.E Spray Adhesives Market by Type
10.4.6.3.3 U.A.E Spray Adhesives Market by End-Use Industry
10.4.6.4 Rest of Middle East and Africa Spray Adhesives Market
10.4.6.4.1 Rest of Middle East and Africa Spray Adhesives Market by Chemistry
10.4.6.4.2 Rest of Middle East and Africa Spray Adhesives Market by Type
10.4.6.4.3 Rest of Middle East and Africa Spray Adhesives Market by End-Use Industry
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Spray Adhesives Market Overview
10.5.2 South and Central America Spray Adhesives Market Forecasts and Analysis
10.5.3 South and Central America Spray Adhesives Market Forecasts and Analysis - By Chemistry
10.5.4 South and Central America Spray Adhesives Market Forecasts and Analysis - By Type
10.5.5 South and Central America Spray Adhesives Market Forecasts and Analysis - By End-Use Industry
10.5.6 South and Central America Spray Adhesives Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Spray Adhesives Market
10.5.6.1.1 Brazil Spray Adhesives Market by Chemistry
10.5.6.1.2 Brazil Spray Adhesives Market by Type
10.5.6.1.3 Brazil Spray Adhesives Market by End-Use Industry
10.5.6.2 Argentina Spray Adhesives Market
10.5.6.2.1 Argentina Spray Adhesives Market by Chemistry
10.5.6.2.2 Argentina Spray Adhesives Market by Type
10.5.6.2.3 Argentina Spray Adhesives Market by End-Use Industry
10.5.6.3 Rest of South and Central America Spray Adhesives Market
10.5.6.3.1 Rest of South and Central America Spray Adhesives Market by Chemistry
10.5.6.3.2 Rest of South and Central America Spray Adhesives Market by Type
10.5.6.3.3 Rest of South and Central America Spray Adhesives Market by End-Use Industry
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. SPRAY ADHESIVES MARKET, KEY COMPANY PROFILES
12.1. 3M
AFT AEROSOLS
AVERY DENNISON CORPORATION
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. BOSTIK
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. GEMINI ADHESIVES
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. ILLINOIS TOOL WORKS
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. KISSEL+WOLF GMBH
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. QUIN GLOBAL
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. SIKA AG
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. SPRAY-LOCK INC.
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1.3MAFT AerosolsAvery Dennison Corporation2.Bostik3.Gemini Adhesives4.Illinois Tool Works5.Kissel+Wolf GmbH6.Quin Global7.Sika AG8.Spray-Lock 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
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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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