Succinic Acid Market Analysis, Size, and Share by 2031

Coverage: Succinic Acid Market covers analysis By Type (Petro-Based Succinic Acid, Bio-Based Succinic Acid); End-Use Industry (Industrial, Coating, Food and Beverage, Pharmaceutical, Others) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPRE00006108
  • Category : Chemicals and Materials
  • No. of Pages : 150
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The Succinic Acid Market is expected to register a CAGR of 9% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.

The succinic acid market report is segmented by type (petro-based and bio-based). The market is segmented based on the end-use industry (food and beverages, pharmaceuticals, coatings, industrial, personal care and cosmetics, and others). The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis, segments, regions, and countries. The report covers market trends, as well as market dynamics such as drivers, restraints, and key opportunities. The report also covers industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the market.

Purpose of the Report

The report Succinic Acid 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.

Succinic Acid Market Segmentation

Type
  • Petro-Based and Bio-Based
End-Use Industry
  • Food and Beverages
  • Pharmaceuticals
  • Coatings
  • Industrial
  • Personal Care and Cosmetics

Strategic Insights

Succinic Acid Market Growth Drivers
  • Escalating Demand for Sustainable and Green Production: The significant point is that succinic acid is bio-based. The whole world is trying to gradually adopt more sustainable and green production processes-succinic acid is derived from renewables, corn, sugarcane biomass, etc. into succinic acid as a greener alternative to the petrochemicals. It is applied widely in bioplastics, solvents, and pharmaceutical products, which is practically the future of 'green' development and thus increases such demand in the market for this product.
  • Bioplastics Industry Drives Succinic Acid Market Growth: Growth of bioplastics industry is one of the strongest influences on the growth of the succinic acid market. Succinic acid is an important raw material in the manufacture of biodegradable plastics, such as polybutylene succinate (PBS), widely used in packaging, agriculture, and automotive sectors. The increasing demand for bioplastics will, therefore, go alongside concerns for the environment and the introduction of regulations regarding plastic waste at all global levels. This is also expected to show a direct positive effect on the demand for succinic acid, as it is the core ingredient of such materials.
  • Succinic Acid in Pharmaceuticals and Personal Care: Succinic acid is a well-known intermediate in making certain pharmacological agents as well. It is also used as an excipient in formulation drugs. In personal care, products like cosmetics, skin care, and deodorants have been incorporated into such effects - antimicrobial and anti-inflammatory. The growing demand for succinic acid continues to soar with increasing trend growth for global health business and personal care industry, particularly for emerging markets, with growing disposable incomes.
Succinic Acid Market Future Trends
  • Advancements in Bio-Fermentation Technologies: The continuous advancement in bio-fermentation technologies is a major trend in the succinate acid market, which is further raising the production and yield levels of the succinate acid. Innovative things like the genetically modified microorganisms and the improved fermentation process can help with the cost-effective and scalable production of bio-based succinic acid. With the maturation of such technologies, it will lower production costs and lead to higher competitiveness among bio-based succinic acid versus petrochemicals.
  • Circular Economy and Waste-to-Value Technologies: The swing is underway towards a circular economy, and succinic acid will soon have its critical part in the scheme. Most of the research and development are now focused on waste raw materials, specifically secondary products from agriculture and industry, for their utilization in succinic acid production. This doesn't only minimize waste but lessens reliance on raw fossil-based resources. As soon as sustainability starts becoming part and parcel of industrial proceedings, waste-to-value technologies will probably lead to an increase in the use of succinic acid-from-waste sources.
  • Succinic Acid as a Sustainable Bio-Based Solvent: The need for succinic acid, as a bio-based solvent and raw material, is increasingly becoming high for the production of several chemicals like paint, coatings, and adhesives, among others. It is gaining popularity in industries due to their qualities of being low toxic, biodegradable, and posing a minimal threat to the ecosystem. Thus, the demand for succinic acid will continue to develop in future, as it is opened up by ecological awareness and regulatory requirements for a transition to renewable found solvents with lower toxicity.
Succinic Acid Market Opportunities
  • Growing Demand for Sustainable Packaging Solutions: Bioplastics have rightly gained considerable interest as the most potential area for succinic acid. There is a growing market demand for environment-friendly packaging materials and sustainable plastics, which is a big opportunity for succinic acid. Producers may use this opportunity by increasing the production of bioplastics, for example, PBS (Polybutylene Succinate), which can be used as biodegrading substitutes for traditional plastics. Since generally the stringent environmental laws on plastic wastes become stricter worldwide, the demand for bioplastics is forecast to grow rapidly, which will represent an excellent opportunity for growth and profits.
  • Innovative Succinic Acid Derivatives: Development of newly developed succinic acid derivatives potentially offers multiple expansion opportunities in these markets. Succinic acid can create a variety of valuable derivatives, such as 1,4-butanediol (BDO), tetrahydrofuran (THF), and succinate esters, which can be applied in industries such as automotive, textiles, and coatings. From innovation in producing and using these derivatives, even new applications for succinic acid can be developed, thus bringing new high-growth sectors into the fold of demand and creating further advantages for the market.
  • Rising Industrialization in Emerging Markets: Emerging economies are rapidly industrializing and urbanizing, particularly in Asia-Pacific and Latin America, which are significant opportunities for the succinic acid market. The succinic acid-based products will grow sharply with these high developments in the pharmaceuticals, personal care, packaging, and agricultural industries. Companies can develop production capacity and distribution network strategic partnerships and joint ventures in those regions to exploit increased demand for bio-based chemicals and materials.

Market Report Scope

Key Selling Points

  • Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Succinic Acid 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 Succinic Acid 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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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

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to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

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Frequently Asked Questions


What is the future trend for succinic acid market?

Advancements in bio-fermentation technology are expected to be the key market trends.

Based on geography, which region held the largest share of the succinic acid market?

Based on geography, Asia Pacific held the largest share of the succinic acid market due to the strong growth of the food and beverages industry in the region.

Which is the fastest growing segment based on end-use industry?

Based on end-use industry, the food and beverages segment is expected to witness the fastest growth during the forecast period.

What are the driving factors impacting the succinic acid market ?

Rising demand for bio-based and sustainable chemicals are driving the market growth.

What are the key players operating in the succinic acid market?

BASF SE, GC Innovation America, Parchem, Dow Chemicals, Ernesto Ventos S.A., The Chemical Company, Kawasaki Kasei Chemicals Ltd, Mitsubishi Chemical Corporation, Mitsui and Co Ltd, and Merck KGaA are the key players operating in the succinic acid market.

What is the expected CAGR of the Succinic Acid Market?

The Succinic Acid Market is estimated to witness a CAGR of 9% 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 Succinic Acid - By Type
1.3.2 Succinic Acid - By End-Use Industry
1.3.3 Succinic Acid - By Region
1.3.3.1 By Country

2. KEY TAKEAWAYS

3. RESEARCH METHODOLOGY

4. SUCCINIC ACID 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. SUCCINIC ACID - 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. SUCCINIC ACID - GLOBAL MARKET ANALYSIS
6.1. SUCCINIC ACID - GLOBAL MARKET OVERVIEW
6.2. SUCCINIC ACID - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE

7. SUCCINIC ACID - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. PETRO-BASED SUCCINIC ACID
7.3.1. Overview
7.3.2. Petro-Based Succinic Acid Market Forecast and Analysis
7.4. BIO-BASED SUCCINIC ACID
7.4.1. Overview
7.4.2. Bio-Based Succinic Acid Market Forecast and Analysis

8. SUCCINIC ACID - REVENUE AND FORECASTS TO 2028 - END-USE INDUSTRY
8.1. OVERVIEW
8.2. END-USE INDUSTRY MARKET FORECASTS AND ANALYSIS
8.3. INDUSTRIAL
8.3.1. Overview
8.3.2. Industrial Market Forecast and Analysis
8.4. COATING
8.4.1. Overview
8.4.2. Coating Market Forecast and Analysis
8.5. FOOD AND BEVERAGE
8.5.1. Overview
8.5.2. Food and Beverage Market Forecast and Analysis
8.6. PHARMACEUTICAL
8.6.1. Overview
8.6.2. Pharmaceutical Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis

9. SUCCINIC ACID REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Succinic Acid Overview
9.1.2 North America Succinic Acid Forecasts and Analysis
9.1.3 North America Succinic Acid Forecasts and Analysis - By Type
9.1.4 North America Succinic Acid Forecasts and Analysis - By End-Use Industry
9.1.5 North America Succinic Acid Forecasts and Analysis - By Countries
9.1.5.1 Canada Succinic Acid
9.1.5.1.1 Canada Succinic Acid by Type
9.1.5.1.2 Canada Succinic Acid by End-Use Industry
9.1.5.2 Mexico Succinic Acid
9.1.5.2.1 Mexico Succinic Acid by Type
9.1.5.2.2 Mexico Succinic Acid by End-Use Industry
9.1.5.3 US Succinic Acid
9.1.5.3.1 US Succinic Acid by Type
9.1.5.3.2 US Succinic Acid by End-Use Industry
9.2. EUROPE
9.2.1 Europe Succinic Acid Overview
9.2.2 Europe Succinic Acid Forecasts and Analysis
9.2.3 Europe Succinic Acid Forecasts and Analysis - By Type
9.2.4 Europe Succinic Acid Forecasts and Analysis - By End-Use Industry
9.2.5 Europe Succinic Acid Forecasts and Analysis - By Countries
9.2.5.1 Germany Succinic Acid
9.2.5.1.1 Germany Succinic Acid by Type
9.2.5.1.2 Germany Succinic Acid by End-Use Industry
9.2.5.2 France Succinic Acid
9.2.5.2.1 France Succinic Acid by Type
9.2.5.2.2 France Succinic Acid by End-Use Industry
9.2.5.3 Italy Succinic Acid
9.2.5.3.1 Italy Succinic Acid by Type
9.2.5.3.2 Italy Succinic Acid by End-Use Industry
9.2.5.4 United Kingdom Succinic Acid
9.2.5.4.1 United Kingdom Succinic Acid by Type
9.2.5.4.2 United Kingdom Succinic Acid by End-Use Industry
9.2.5.5 Russia Succinic Acid
9.2.5.5.1 Russia Succinic Acid by Type
9.2.5.5.2 Russia Succinic Acid by End-Use Industry
9.2.5.6 Rest of Europe Succinic Acid
9.2.5.6.1 Rest of Europe Succinic Acid by Type
9.2.5.6.2 Rest of Europe Succinic Acid by End-Use Industry
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Succinic Acid Overview
9.3.2 Asia-Pacific Succinic Acid Forecasts and Analysis
9.3.3 Asia-Pacific Succinic Acid Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Succinic Acid Forecasts and Analysis - By End-Use Industry
9.3.5 Asia-Pacific Succinic Acid Forecasts and Analysis - By Countries
9.3.5.1 Australia Succinic Acid
9.3.5.1.1 Australia Succinic Acid by Type
9.3.5.1.2 Australia Succinic Acid by End-Use Industry
9.3.5.2 China Succinic Acid
9.3.5.2.1 China Succinic Acid by Type
9.3.5.2.2 China Succinic Acid by End-Use Industry
9.3.5.3 India Succinic Acid
9.3.5.3.1 India Succinic Acid by Type
9.3.5.3.2 India Succinic Acid by End-Use Industry
9.3.5.4 Japan Succinic Acid
9.3.5.4.1 Japan Succinic Acid by Type
9.3.5.4.2 Japan Succinic Acid by End-Use Industry
9.3.5.5 South Korea Succinic Acid
9.3.5.5.1 South Korea Succinic Acid by Type
9.3.5.5.2 South Korea Succinic Acid by End-Use Industry
9.3.5.6 Rest of Asia-Pacific Succinic Acid
9.3.5.6.1 Rest of Asia-Pacific Succinic Acid by Type
9.3.5.6.2 Rest of Asia-Pacific Succinic Acid by End-Use Industry
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Succinic Acid Overview
9.4.2 Middle East and Africa Succinic Acid Forecasts and Analysis
9.4.3 Middle East and Africa Succinic Acid Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Succinic Acid Forecasts and Analysis - By End-Use Industry
9.4.5 Middle East and Africa Succinic Acid Forecasts and Analysis - By Countries
9.4.5.1 South Africa Succinic Acid
9.4.5.1.1 South Africa Succinic Acid by Type
9.4.5.1.2 South Africa Succinic Acid by End-Use Industry
9.4.5.2 Saudi Arabia Succinic Acid
9.4.5.2.1 Saudi Arabia Succinic Acid by Type
9.4.5.2.2 Saudi Arabia Succinic Acid by End-Use Industry
9.4.5.3 U.A.E Succinic Acid
9.4.5.3.1 U.A.E Succinic Acid by Type
9.4.5.3.2 U.A.E Succinic Acid by End-Use Industry
9.4.5.4 Rest of Middle East and Africa Succinic Acid
9.4.5.4.1 Rest of Middle East and Africa Succinic Acid by Type
9.4.5.4.2 Rest of Middle East and Africa Succinic Acid by End-Use Industry
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Succinic Acid Overview
9.5.2 South and Central America Succinic Acid Forecasts and Analysis
9.5.3 South and Central America Succinic Acid Forecasts and Analysis - By Type
9.5.4 South and Central America Succinic Acid Forecasts and Analysis - By End-Use Industry
9.5.5 South and Central America Succinic Acid Forecasts and Analysis - By Countries
9.5.5.1 Brazil Succinic Acid
9.5.5.1.1 Brazil Succinic Acid by Type
9.5.5.1.2 Brazil Succinic Acid by End-Use Industry
9.5.5.2 Argentina Succinic Acid
9.5.5.2.1 Argentina Succinic Acid by Type
9.5.5.2.2 Argentina Succinic Acid by End-Use Industry
9.5.5.3 Rest of South and Central America Succinic Acid
9.5.5.3.1 Rest of South and Central America Succinic Acid by Type
9.5.5.3.2 Rest of South and Central America Succinic Acid by End-Use Industry

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. SUCCINIC ACID, KEY COMPANY PROFILES
11.1. ANHUI SUNSING CHEMICALS
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. ANQING HEXING CHEMICAL
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. BASF SE
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. GC INNOVATION AMERICA
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. KAWASAKI KASEI CHEMICALS
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. MYRIANT 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. NIPPON SHOKUBAI
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. REVERDIA
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. SPECTRUM CHEMICAL MANUFACTURING CORP.
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. SUCCINITY
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
The List of Companies

1.Anhui Sunsing Chemicals2.Anqing Hexing Chemical3.BASF SE4.Gc Innovation America5.Kawasaki Kasei Chemicals6.Myriant Corporation7.Nippon Shokubai8.Reverdia9.Spectrum Chemical Manufacturing Corp.10.Succinity

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. 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.

  1. 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:

Research Methodology

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.

  1. 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.

  1. 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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