Textile Composites Market Size & CAGR (2023-2031)
The Textile Composites Market is expected to register a CAGR of 7% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report presents analysis based on fiber type (carbon, glass, and others). The report presents analysis based on matrix type (thermoplastic and thermoset). The report is segmented by application (electrical and electronics, sporting goods, automotive, aerospace, and others). The global analysis is further broken-down at regional level and major countries. 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 and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report Textile Composites 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.
Textile Composites Market Segmentation
Fiber Type- Carbon
- Glass
- Thermoplastic and Thermoset
- Electrical and Electronics
- Sporting Goods
- Automotive
- Aerospace
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Textile Composites Market Growth Drivers- Growing Demand for Textile Composites from End-use Industries: Growing demand for textile composites across industries is the reason for the rapid growth of the market. Textile composites feature a unique blend of lightweight with high strength and flexibility properties, making them highly suitable to be applied in automotive, aerospace, and construction industries where the demand for improved-performance materials makes an increasing and rising demand for textile composites.
- Automotive Industry's Push for Lightweight, Fuel-Efficient Materials: The need for lightweight, fuel-efficient material in automobiles drives the adoption of composites. Such materials reduce the weight of a car without losing strength, which creates mileage by fuel efficiency and reduced emissions. Now, further compulsions for EVs propel the requirement for composite textiles to enhance the battery and design of an electric vehicle.
- Textile Composites in Aerospace for Strength and Weight Efficiency: Other success areas include adoption in the aerospace industry, seeking textile composites for their high strength-to-weight ratio, a crucial necessity for reducing aircraft weight without loss of structural integrity. With fuel efficiency, saving costs on maintenance, and resulting improvements in the general performance of aircraft, adoption is inevitable in aircraft construction.
- Nanocomposites Enhancing Textile Performance: Textile composites in the near future will showcase a strong trend of nanocomposites with enhanced mechanical properties. This composite material integrates nanoparticles, namely carbon nanotubes or graphene, into textiles to enhance their strength, durability, and flexibility. Nanotechnology can be introduced to create more favorable conditions for improving textile performance to a new level and opening a door for advanced applications.
- Role in Automotive and Aerospace Industries: Nanocomposites have explicitly become important in the automotive and aerospace industries. In these industries, the good significance of nanocomposites is due to enhanced mechanical properties comprising high tensile strength and impact resistance, and therefore, these are suitable for lightweight yet resilient components. Rising demands for high-performance materials in these industries lead to providing nanocomposite solutions matching a strict need for safety, efficiency, and sustainability.
- Increased Durability and Extended Service Life: In addition, participation in textiles makes them more durable and resistant to abrasion, meaning their service lives will significantly be extended and thus appropriate for wear in strenuous applications that include protective clothing, military uniforms, and sportswear. Mechanistic improvement of such textiles leads to increased lifespan, with minimized maintenance costs incurred and overall improved performance. This is the reason why nanocomposites are currently becoming more integrated into most industries, hence the rapid growth of the market.
- 3D Printing and Additive Manufacturing: The emerging opportunities for growth in the market for textile composites relate to 3D printing and additive manufacturing. Additive manufacturing technologies can now provide highly accurate and efficient reproduction of complex customized textile composites. Manufacturers can now produce lightweight, high-performance materials that are tailored towards specific applications. Market innovation is being led by the immediate design and rapid prototyping capabilities available.
- 3D Printing's Impact on Automotive and Aerospace Sectors: The automotive and aerospace sectors are certainly where 3D printing and additive manufacturing do the best. In fact, they will generate complex, lightweight parts that are needed for superior fuel efficiency and significantly reduced emissions. As it is imposing sustainability with performance, 3D-printed textile composites promise manufacturers an economical and efficient substitute.
- nnovation with 3D Printed Textile Composites: Composite textiles also have the potential to be designed more freely with 3D printing. Manufacturers can make materials of thickness, texture, and properties for specific applications, such as impact resistance, stretch, or water-repellent characteristics. Innovative opportunities exist here in the area of sportswear, medical textiles, and personal protective clothing.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Textile Composites 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 Textile Composites 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
The Textile Composites Market is estimated to witness a CAGR of 7% from 2023 to 2031
The growing demand for textile composites is driving the market growth.
BGF Industries Inc; TEIJIN LIMITED; DuPont de Nemours Inc; Mitsubishi Chemical Carbon Fiber and Composites Inc; NIPPON STEEL Chemical and Material Co Ltd; Owens Corning; SGL Carbon; Solvay; Toray Industries Inc; and Composite Fabrics of America are some of textile composites market
Based on fiber type, the carbon segment is expected to witness the fastest growth during the forecast period
Based on geography, Asia Pacific held the largest share of the textile composites market, as the countries like China, India, and Japan are major producers of textiles and advanced composite materials, which contribute significantly to the market’s growth. The region has a robust industrial base and cost advantages, enabling mass production of textile composites.
Nanocomposites with enhanced mechanical properties is expected to be the key market trends.
1. INTRODUCTION
1. 1. SCOPE OF THE STUDY
1. 2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1. 3. MARKET SEGMENTATION
1. 3. 1 Textile Composites Market - By Fiber Type
1. 3. 2 Textile Composites Market - By Application
1. 3. 3 Textile Composites Market - By Region
1. 3. 3. 1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. TEXTILE COMPOSITES MARKET LANDSCAPE
4. 1. OVERVIEW
4. 2. PORTER'S FIVE FORCES ANALYSIS
4. 2. 1 Bargaining Power of Buyers
4. 2. 1 Bargaining Power of Suppliers
4. 2. 1 Threat of Substitute
4. 2. 1 Threat of New Entrants
4. 2. 1 Competitive Rivalry
4. 3. EXPERT OPINIONS
5. TEXTILE COMPOSITES 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. TEXTILE COMPOSITES MARKET - GLOBAL MARKET ANALYSIS
6. 1. TEXTILE COMPOSITES - GLOBAL MARKET OVERVIEW
6. 2. TEXTILE COMPOSITES - GLOBAL MARKET AND FORECAST TO 2028
6. 3. MARKET POSITIONING
7. TEXTILE COMPOSITES MARKET - REVENUE AND FORECASTS TO 2028 - FIBER TYPE
7. 1. OVERVIEW
7. 2. FIBER TYPE MARKET FORECASTS AND ANALYSIS
7. 3. CARBON
7. 3. 1. Overview
7. 3. 2. Carbon Market Forecast and Analysis
7. 4. GLASS
7. 4. 1. Overview
7. 4. 2. Glass Market Forecast and Analysis
7. 5. ARAMID
7. 5. 1. Overview
7. 5. 2. Aramid Market Forecast and Analysis
7. 6. OTHERS
7. 6. 1. Overview
7. 6. 2. Others Market Forecast and Analysis
8. TEXTILE COMPOSITES MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8. 1. OVERVIEW
8. 2. APPLICATION MARKET FORECASTS AND ANALYSIS
8. 3. AEROSPACE AND DEFENSE
8. 3. 1. Overview
8. 3. 2. Aerospace and Defense Market Forecast and Analysis
8. 4. ELECTRICAL AND ELECTRONICS
8. 4. 1. Overview
8. 4. 2. Electrical and Electronics Market Forecast and Analysis
8. 5. CONSTRUCTION
8. 5. 1. Overview
8. 5. 2. Construction Market Forecast and Analysis
8. 6. SPORTING GOODS
8. 6. 1. Overview
8. 6. 2. Sporting Goods Market Forecast and Analysis
8. 7. MARINE
8. 7. 1. Overview
8. 7. 2. Marine Market Forecast and Analysis
8. 8. OTHERS
8. 8. 1. Overview
8. 8. 2. Others Market Forecast and Analysis
9. TEXTILE COMPOSITES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9. 1. NORTH AMERICA
9. 1. 1 North America Textile Composites Market Overview
9. 1. 2 North America Textile Composites Market Forecasts and Analysis
9. 1. 3 North America Textile Composites Market Forecasts and Analysis - By Fiber Type
9. 1. 4 North America Textile Composites Market Forecasts and Analysis - By Application
9. 1. 5 North America Textile Composites Market Forecasts and Analysis - By Countries
9. 1. 5. 1 United States Textile Composites Market
9. 1. 5. 1. 1 United States Textile Composites Market by Fiber Type
9. 1. 5. 1. 2 United States Textile Composites Market by Application
9. 1. 5. 2 Canada Textile Composites Market
9. 1. 5. 2. 1 Canada Textile Composites Market by Fiber Type
9. 1. 5. 2. 2 Canada Textile Composites Market by Application
9. 1. 5. 3 Mexico Textile Composites Market
9. 1. 5. 3. 1 Mexico Textile Composites Market by Fiber Type
9. 1. 5. 3. 2 Mexico Textile Composites Market by Application
9. 2. EUROPE
9. 2. 1 Europe Textile Composites Market Overview
9. 2. 2 Europe Textile Composites Market Forecasts and Analysis
9. 2. 3 Europe Textile Composites Market Forecasts and Analysis - By Fiber Type
9. 2. 4 Europe Textile Composites Market Forecasts and Analysis - By Application
9. 2. 5 Europe Textile Composites Market Forecasts and Analysis - By Countries
9. 2. 5. 1 Germany Textile Composites Market
9. 2. 5. 1. 1 Germany Textile Composites Market by Fiber Type
9. 2. 5. 1. 2 Germany Textile Composites Market by Application
9. 2. 5. 2 France Textile Composites Market
9. 2. 5. 2. 1 France Textile Composites Market by Fiber Type
9. 2. 5. 2. 2 France Textile Composites Market by Application
9. 2. 5. 3 Italy Textile Composites Market
9. 2. 5. 3. 1 Italy Textile Composites Market by Fiber Type
9. 2. 5. 3. 2 Italy Textile Composites Market by Application
9. 2. 5. 4 United Kingdom Textile Composites Market
9. 2. 5. 4. 1 United Kingdom Textile Composites Market by Fiber Type
9. 2. 5. 4. 2 United Kingdom Textile Composites Market by Application
9. 2. 5. 5 Russia Textile Composites Market
9. 2. 5. 5. 1 Russia Textile Composites Market by Fiber Type
9. 2. 5. 5. 2 Russia Textile Composites Market by Application
9. 2. 5. 6 Rest of Europe Textile Composites Market
9. 2. 5. 6. 1 Rest of Europe Textile Composites Market by Fiber Type
9. 2. 5. 6. 2 Rest of Europe Textile Composites Market by Application
9. 3. ASIA-PACIFIC
9. 3. 1 Asia-Pacific Textile Composites Market Overview
9. 3. 2 Asia-Pacific Textile Composites Market Forecasts and Analysis
9. 3. 3 Asia-Pacific Textile Composites Market Forecasts and Analysis - By Fiber Type
9. 3. 4 Asia-Pacific Textile Composites Market Forecasts and Analysis - By Application
9. 3. 5 Asia-Pacific Textile Composites Market Forecasts and Analysis - By Countries
9. 3. 5. 1 Australia Textile Composites Market
9. 3. 5. 1. 1 Australia Textile Composites Market by Fiber Type
9. 3. 5. 1. 2 Australia Textile Composites Market by Application
9. 3. 5. 2 China Textile Composites Market
9. 3. 5. 2. 1 China Textile Composites Market by Fiber Type
9. 3. 5. 2. 2 China Textile Composites Market by Application
9. 3. 5. 3 India Textile Composites Market
9. 3. 5. 3. 1 India Textile Composites Market by Fiber Type
9. 3. 5. 3. 2 India Textile Composites Market by Application
9. 3. 5. 4 Japan Textile Composites Market
9. 3. 5. 4. 1 Japan Textile Composites Market by Fiber Type
9. 3. 5. 4. 2 Japan Textile Composites Market by Application
9. 3. 5. 5 South Korea Textile Composites Market
9. 3. 5. 5. 1 South Korea Textile Composites Market by Fiber Type
9. 3. 5. 5. 2 South Korea Textile Composites Market by Application
9. 3. 5. 6 Rest of Asia-Pacific Textile Composites Market
9. 3. 5. 6. 1 Rest of Asia-Pacific Textile Composites Market by Fiber Type
9. 3. 5. 6. 2 Rest of Asia-Pacific Textile Composites Market by Application
9. 4. MIDDLE EAST AND AFRICA
9. 4. 1 Middle East and Africa Textile Composites Market Overview
9. 4. 2 Middle East and Africa Textile Composites Market Forecasts and Analysis
9. 4. 3 Middle East and Africa Textile Composites Market Forecasts and Analysis - By Fiber Type
9. 4. 4 Middle East and Africa Textile Composites Market Forecasts and Analysis - By Application
9. 4. 5 Middle East and Africa Textile Composites Market Forecasts and Analysis - By Countries
9. 4. 5. 1 South Africa Textile Composites Market
9. 4. 5. 1. 1 South Africa Textile Composites Market by Fiber Type
9. 4. 5. 1. 2 South Africa Textile Composites Market by Application
9. 4. 5. 2 Saudi Arabia Textile Composites Market
9. 4. 5. 2. 1 Saudi Arabia Textile Composites Market by Fiber Type
9. 4. 5. 2. 2 Saudi Arabia Textile Composites Market by Application
9. 4. 5. 3 U. A. E Textile Composites Market
9. 4. 5. 3. 1 U. A. E Textile Composites Market by Fiber Type
9. 4. 5. 3. 2 U. A. E Textile Composites Market by Application
9. 4. 5. 4 Rest of Middle East and Africa Textile Composites Market
9. 4. 5. 4. 1 Rest of Middle East and Africa Textile Composites Market by Fiber Type
9. 4. 5. 4. 2 Rest of Middle East and Africa Textile Composites Market by Application
9. 5. SOUTH AND CENTRAL AMERICA
9. 5. 1 South and Central America Textile Composites Market Overview
9. 5. 2 South and Central America Textile Composites Market Forecasts and Analysis
9. 5. 3 South and Central America Textile Composites Market Forecasts and Analysis - By Fiber Type
9. 5. 4 South and Central America Textile Composites Market Forecasts and Analysis - By Application
9. 5. 5 South and Central America Textile Composites Market Forecasts and Analysis - By Countries
9. 5. 5. 1 Brazil Textile Composites Market
9. 5. 5. 1. 1 Brazil Textile Composites Market by Fiber Type
9. 5. 5. 1. 2 Brazil Textile Composites Market by Application
9. 5. 5. 2 Argentina Textile Composites Market
9. 5. 5. 2. 1 Argentina Textile Composites Market by Fiber Type
9. 5. 5. 2. 2 Argentina Textile Composites Market by Application
9. 5. 5. 3 Rest of South and Central America Textile Composites Market
9. 5. 5. 3. 1 Rest of South and Central America Textile Composites Market by Fiber Type
9. 5. 5. 3. 2 Rest of South and Central America Textile Composites 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. TEXTILE COMPOSITES MARKET, KEY COMPANY PROFILES
11. 1. ADVANCED TEXTILE COMPOSITES
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. CHINA NATIONAL BLUESTAR (GROUP) CO. LTD
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. COMPOSITE FABRICS OF AMERICA
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. DUPONT
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. HUVIS CORPORATION
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. HYOSUNG
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. KERMEL
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. KOLON INDUSTRIES INC.
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. LECTRA
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. TEIJIN LIMITED
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
- Advanced Textile Composites
- China National Bluestar (Group) Co. Ltd
- Composite Fabrics of America
- Dupont
- HUVIS Corporation
- Hyosung
- KERMEL
- Kolon Industries Inc.
- Lectra
- Teijin Limited
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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