Structural Adhesives Market Dynamics 2021-2031
The Structural Adhesives Market is expected to register a CAGR of 7.5% from 2024 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by By Type (Epoxy, Polyurethane, Methyl Methacrylate, and Others). The report is also segmented based on Substrate (Metals, Plastics, Wood, and Others), Technology (Solvent-Based, Water-Based, Hot Melt, and Reactive), and Application (Marine, EV Batteries, Automotive Assembly, DIY Markets, and Others). The report scope covers 5 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 Structural 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.
Structural Adhesives Market Segmentation
Type- Epoxy
- Polyurethane
- Methyl Methacrylate
- Metals
- Plastics
- Wood
Strategic Insights
Structural Adhesives Market Growth Drivers- Increasing Demand for Structural Adhesives in Automotive Lightweight Materials: Increased consumption, presently, drives the global market for structural adhesives, primarily for vehicles. Vehicle manufacturers have adopted lightweight materials, such as composites and aluminum, which require durable adhesive bonding, all of which heated up from a high level of strength. It includes nearly every use of structural adhesive joints, such as a composite panel together and structural components as part of maintaining lightweight integrity in automotive applications.
- Structural Adhesives Ensuring Durability and Strength in Automotive Applications: Structural adhesives very efficiently and reliably join lightweight materials without compromising strength or performance. Applications include the bonding of composite panels, attaching structural components, and integrity assurance with respect to lightweight, in particular automotive parts. They are paramount as part of the strategy toward reducing vehicle weight.
- Growth of Structural Adhesives Driven by Electric Vehicle Manufacturing and Eco-Friendly Design: This trend is very promising with increasing investments moving into pure electric vehicles, which require more advanced lightweight materials needed for optimizing batteries' performance and energy efficiency. As the structural adhesives satisfy this by definition in all fabrication and assembly of vehicle bodies or subassemblies, this growth is expected to continue in tandem with the necessity for more fuel-efficient and eco-friendly vehicle designs.
- Shift Towards Eco-Friendly and Sustainable Structural Adhesives: One of the major trends affecting the structural adhesives market is the shift toward demand of eco-friendly and sustainable adhesives. As awareness of the environment increases, so do the regulations imposed on companies about it. Thus, the adhesive manufacturers are also going out and searching for an alternative that will have a lower impact on the environment, such as those water-based, bio-based, or low-VOC formulations, all of which are proven to be less harmful than usual adhesives, mostly petroleum-based ones.
- Eco-Friendly Adhesives Offering Comparable Performance with Lower Environmental Impact: Eco-friendly structural adhesives have comparable performance and durability while being less toxic and generally less harmful to the environment than traditional adhesives. These adhesives are increasingly gaining penetration in the automotive, construction, electronics, and many more industries where sustainability has now become a priority. This is part of the global trend toward a lower carbon footprint and towards sustainable production methods.
- Green Adhesives Meeting Consumer Demand for Sustainable and Health-Conscious Products: Green adhesives are also connected to the demands of consumers regarding greener products and growing fears of health risks posed by certain chemical compounds. Market activity in structural adhesives is expected to experience high investments in research and development towards producing and marketing environmentally friendly adhesive solutions across various applications.
- Rise of Electric Vehicle Industry Driving Demand for Structural Adhesives: There has been a magnificent opportunity in the structural adhesives market, owing to the rise in the electric vehicle (EV) industry. With increasing competition among electric vehicle manufacturers to improve vehicle performance, weight, and battery efficiency, there has emerged a trend of using structural adhesives to bond various lightweight materials, such as composites and aluminum, that are significant in the design and engineering of electric vehicles.
- Structural Adhesives Enhancing Energy Efficiency and Lightweight Design in Electric Vehicles: Structural adhesives give a higher bond without using mechanical fasteners, which helps provide better energy efficiency through a reduction in vehicle weight, both of which are vital parameters for EV design. The use of these structural adhesives in bonding battery parts, body panels, and other lightweight structures makes it possible to manufacture more cost-effective, efficient, and robust electric vehicles, which, in turn, will introduce new opportunities for growth in this sector.
- Government Push and Consumer Adoption Fueling Growth in Structural Adhesives for EVs: At the same time, with governments increasingly pushing their nations for green transportation solutions and the increasing adoption of electric vehicles by consumers, there will be an increasing demand for understanding advanced bonding solutions. Structural adhesives will be critical to realizing the next generation of EVs, constituting one of the most important drivers of future growth for adhesive manufacturers and suppliers in this opportunity market.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Structural 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 Structural Adhesives Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Based on geography, Asia Pacific is expected to register the fastest CAGR from 2023 to 2031.
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
Increasing adoption of eco-friendly adhesives is one of the key trends for the market growth.
Henkel AG and Co KGaA, 3M Company, DuPont, Huntsman Corporation, Bostik, Permabond, Master Bond Inc, Parson Adhesives Inc, MAPEI SpA, and Sika AG are among the leading players operating in the structural adhesives market.
Growing demand for lightweight and fuel-efficient vehicles is driving the market growth
The Structural Adhesives Market is estimated to witness a CAGR of 7.5% from 2023 to 2031
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Structural Adhesives Market - By Resin
1.3.2 Structural Adhesives Market - By Substrate
1.3.3 Structural Adhesives Market - By Applications
1.3.4 Structural Adhesives Market - By Region
1.3.4.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. STRUCTURAL 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. STRUCTURAL 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. STRUCTURAL ADHESIVES MARKET - GLOBAL MARKET ANALYSIS
6.1. STRUCTURAL ADHESIVES - GLOBAL MARKET OVERVIEW
6.2. STRUCTURAL ADHESIVES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. STRUCTURAL ADHESIVES MARKET - REVENUE AND FORECASTS TO 2028 - RESIN
7.1. OVERVIEW
7.2. RESIN 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. ACRYLIC
7.5.1. Overview
7.5.2. Acrylic Market Forecast and Analysis
7.6. METHYL METHACRYLATE
7.6.1. Overview
7.6.2. Methyl Methacrylate Market Forecast and Analysis
7.7. CYANOACRYLATE
7.7.1. Overview
7.7.2. Cyanoacrylate Market Forecast and Analysis
7.8. OTHERS
7.8.1. Overview
7.8.2. Others Market Forecast and Analysis
8. STRUCTURAL ADHESIVES MARKET - REVENUE AND FORECASTS TO 2028 - SUBSTRATE
8.1. OVERVIEW
8.2. SUBSTRATE MARKET FORECASTS AND ANALYSIS
8.3. METALS
8.3.1. Overview
8.3.2. Metals Market Forecast and Analysis
8.4. PLASTICS
8.4.1. Overview
8.4.2. Plastics Market Forecast and Analysis
8.5. WOOD
8.5.1. Overview
8.5.2. Wood Market Forecast and Analysis
8.6. COMPOSITES
8.6.1. Overview
8.6.2. Composites Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. STRUCTURAL ADHESIVES MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATIONS
9.1. OVERVIEW
9.2. APPLICATIONS MARKET FORECASTS AND ANALYSIS
9.3. BUILDING AND CONSTRUCTION
9.3.1. Overview
9.3.2. Building and Construction Market Forecast and Analysis
9.4. AUTOMOTIVE
9.4.1. Overview
9.4.2. Automotive Market Forecast and Analysis
9.5. AEROSPACE
9.5.1. Overview
9.5.2. Aerospace Market Forecast and Analysis
9.6. WIND ENERGY
9.6.1. Overview
9.6.2. Wind Energy Market Forecast and Analysis
9.7. MARINE
9.7.1. Overview
9.7.2. Marine Market Forecast and Analysis
9.8. RAIL
9.8.1. Overview
9.8.2. Rail Market Forecast and Analysis
9.9. OTHER APPLICATIONS
9.9.1. Overview
9.9.2. Other Applications Market Forecast and Analysis
10. STRUCTURAL ADHESIVES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Structural Adhesives Market Overview
10.1.2 North America Structural Adhesives Market Forecasts and Analysis
10.1.3 North America Structural Adhesives Market Forecasts and Analysis - By Resin
10.1.4 North America Structural Adhesives Market Forecasts and Analysis - By Substrate
10.1.5 North America Structural Adhesives Market Forecasts and Analysis - By Applications
10.1.6 North America Structural Adhesives Market Forecasts and Analysis - By Countries
10.1.6.1 Canada Structural Adhesives Market
10.1.6.1.1 Canada Structural Adhesives Market by Resin
10.1.6.1.2 Canada Structural Adhesives Market by Substrate
10.1.6.1.3 Canada Structural Adhesives Market by Applications
10.1.6.2 Mexico Structural Adhesives Market
10.1.6.2.1 Mexico Structural Adhesives Market by Resin
10.1.6.2.2 Mexico Structural Adhesives Market by Substrate
10.1.6.2.3 Mexico Structural Adhesives Market by Applications
10.1.6.3 US Structural Adhesives Market
10.1.6.3.1 US Structural Adhesives Market by Resin
10.1.6.3.2 US Structural Adhesives Market by Substrate
10.1.6.3.3 US Structural Adhesives Market by Applications
10.2. EUROPE
10.2.1 Europe Structural Adhesives Market Overview
10.2.2 Europe Structural Adhesives Market Forecasts and Analysis
10.2.3 Europe Structural Adhesives Market Forecasts and Analysis - By Resin
10.2.4 Europe Structural Adhesives Market Forecasts and Analysis - By Substrate
10.2.5 Europe Structural Adhesives Market Forecasts and Analysis - By Applications
10.2.6 Europe Structural Adhesives Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Structural Adhesives Market
10.2.6.1.1 Germany Structural Adhesives Market by Resin
10.2.6.1.2 Germany Structural Adhesives Market by Substrate
10.2.6.1.3 Germany Structural Adhesives Market by Applications
10.2.6.2 France Structural Adhesives Market
10.2.6.2.1 France Structural Adhesives Market by Resin
10.2.6.2.2 France Structural Adhesives Market by Substrate
10.2.6.2.3 France Structural Adhesives Market by Applications
10.2.6.3 Italy Structural Adhesives Market
10.2.6.3.1 Italy Structural Adhesives Market by Resin
10.2.6.3.2 Italy Structural Adhesives Market by Substrate
10.2.6.3.3 Italy Structural Adhesives Market by Applications
10.2.6.4 United Kingdom Structural Adhesives Market
10.2.6.4.1 United Kingdom Structural Adhesives Market by Resin
10.2.6.4.2 United Kingdom Structural Adhesives Market by Substrate
10.2.6.4.3 United Kingdom Structural Adhesives Market by Applications
10.2.6.5 Russia Structural Adhesives Market
10.2.6.5.1 Russia Structural Adhesives Market by Resin
10.2.6.5.2 Russia Structural Adhesives Market by Substrate
10.2.6.5.3 Russia Structural Adhesives Market by Applications
10.2.6.6 Rest of Europe Structural Adhesives Market
10.2.6.6.1 Rest of Europe Structural Adhesives Market by Resin
10.2.6.6.2 Rest of Europe Structural Adhesives Market by Substrate
10.2.6.6.3 Rest of Europe Structural Adhesives Market by Applications
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Structural Adhesives Market Overview
10.3.2 Asia-Pacific Structural Adhesives Market Forecasts and Analysis
10.3.3 Asia-Pacific Structural Adhesives Market Forecasts and Analysis - By Resin
10.3.4 Asia-Pacific Structural Adhesives Market Forecasts and Analysis - By Substrate
10.3.5 Asia-Pacific Structural Adhesives Market Forecasts and Analysis - By Applications
10.3.6 Asia-Pacific Structural Adhesives Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Structural Adhesives Market
10.3.6.1.1 Australia Structural Adhesives Market by Resin
10.3.6.1.2 Australia Structural Adhesives Market by Substrate
10.3.6.1.3 Australia Structural Adhesives Market by Applications
10.3.6.2 China Structural Adhesives Market
10.3.6.2.1 China Structural Adhesives Market by Resin
10.3.6.2.2 China Structural Adhesives Market by Substrate
10.3.6.2.3 China Structural Adhesives Market by Applications
10.3.6.3 India Structural Adhesives Market
10.3.6.3.1 India Structural Adhesives Market by Resin
10.3.6.3.2 India Structural Adhesives Market by Substrate
10.3.6.3.3 India Structural Adhesives Market by Applications
10.3.6.4 Japan Structural Adhesives Market
10.3.6.4.1 Japan Structural Adhesives Market by Resin
10.3.6.4.2 Japan Structural Adhesives Market by Substrate
10.3.6.4.3 Japan Structural Adhesives Market by Applications
10.3.6.5 South Korea Structural Adhesives Market
10.3.6.5.1 South Korea Structural Adhesives Market by Resin
10.3.6.5.2 South Korea Structural Adhesives Market by Substrate
10.3.6.5.3 South Korea Structural Adhesives Market by Applications
10.3.6.6 Rest of Asia-Pacific Structural Adhesives Market
10.3.6.6.1 Rest of Asia-Pacific Structural Adhesives Market by Resin
10.3.6.6.2 Rest of Asia-Pacific Structural Adhesives Market by Substrate
10.3.6.6.3 Rest of Asia-Pacific Structural Adhesives Market by Applications
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Structural Adhesives Market Overview
10.4.2 Middle East and Africa Structural Adhesives Market Forecasts and Analysis
10.4.3 Middle East and Africa Structural Adhesives Market Forecasts and Analysis - By Resin
10.4.4 Middle East and Africa Structural Adhesives Market Forecasts and Analysis - By Substrate
10.4.5 Middle East and Africa Structural Adhesives Market Forecasts and Analysis - By Applications
10.4.6 Middle East and Africa Structural Adhesives Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Structural Adhesives Market
10.4.6.1.1 South Africa Structural Adhesives Market by Resin
10.4.6.1.2 South Africa Structural Adhesives Market by Substrate
10.4.6.1.3 South Africa Structural Adhesives Market by Applications
10.4.6.2 Saudi Arabia Structural Adhesives Market
10.4.6.2.1 Saudi Arabia Structural Adhesives Market by Resin
10.4.6.2.2 Saudi Arabia Structural Adhesives Market by Substrate
10.4.6.2.3 Saudi Arabia Structural Adhesives Market by Applications
10.4.6.3 U.A.E Structural Adhesives Market
10.4.6.3.1 U.A.E Structural Adhesives Market by Resin
10.4.6.3.2 U.A.E Structural Adhesives Market by Substrate
10.4.6.3.3 U.A.E Structural Adhesives Market by Applications
10.4.6.4 Rest of Middle East and Africa Structural Adhesives Market
10.4.6.4.1 Rest of Middle East and Africa Structural Adhesives Market by Resin
10.4.6.4.2 Rest of Middle East and Africa Structural Adhesives Market by Substrate
10.4.6.4.3 Rest of Middle East and Africa Structural Adhesives Market by Applications
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Structural Adhesives Market Overview
10.5.2 South and Central America Structural Adhesives Market Forecasts and Analysis
10.5.3 South and Central America Structural Adhesives Market Forecasts and Analysis - By Resin
10.5.4 South and Central America Structural Adhesives Market Forecasts and Analysis - By Substrate
10.5.5 South and Central America Structural Adhesives Market Forecasts and Analysis - By Applications
10.5.6 South and Central America Structural Adhesives Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Structural Adhesives Market
10.5.6.1.1 Brazil Structural Adhesives Market by Resin
10.5.6.1.2 Brazil Structural Adhesives Market by Substrate
10.5.6.1.3 Brazil Structural Adhesives Market by Applications
10.5.6.2 Argentina Structural Adhesives Market
10.5.6.2.1 Argentina Structural Adhesives Market by Resin
10.5.6.2.2 Argentina Structural Adhesives Market by Substrate
10.5.6.2.3 Argentina Structural Adhesives Market by Applications
10.5.6.3 Rest of South and Central America Structural Adhesives Market
10.5.6.3.1 Rest of South and Central America Structural Adhesives Market by Resin
10.5.6.3.2 Rest of South and Central America Structural Adhesives Market by Substrate
10.5.6.3.3 Rest of South and Central America Structural Adhesives Market by Applications
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. STRUCTURAL ADHESIVES MARKET, KEY COMPANY PROFILES
12.1. 3M
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. ASHLAND
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. BOSTIK
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. H.B. FULLER
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. HENKEL AG AND CO. KGAA
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. HUNTSMAN INTERNATIONAL LLC.
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. ILLINOIS TOOL WORKS INC.
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. LORD CORPORATION
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
12.9. SIKA AG
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. THE DOW CHEMICAL COMPANY
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies
- 3M
- Ashland
- Bostik
- H.B. Fuller
- Henkel AG & Co. KGaA
- Huntsman International LLC.
- Illinois Tool Works Inc.
- Lord Corporation
- Sika AG
- The DOW Chemical Company
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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