The Thermoplastic Powder Coatings Market is expected to register a CAGR of 5% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The thermoplastic powder coatings market report is segmented by type (vinyl powder coatings, polyolefinic based powder coatings, nylon based powder coatings, polyester powder coatings, and others). The market is segmented based on end-use industry (construction, automotive, electrical and electronics, oil and gas, agriculture, 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 ReportThe report Thermoplastic Powder Coatings 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.
Thermoplastic Powder Coatings Market Segmentation
Type- Vinyl Powder Coatings
- Polyolefinic Based Powder Coatings
- Nylon Based Powder Coatings
- Polyester Powder Coatings
- Construction
- Automotive
- Electrical and Electronics
- Oil and Gas
- Agriculture
Strategic Insights
Thermoplastic Powder Coatings Market Growth Drivers- Growing Demand for Durable and Sustainable Coatings: Thermoplastic powder coatings are highly sought after for their durability, chemical resistance, and excellent finish, making them ideal for a wide range of applications in automotive, construction, and industrial sectors. The increasing demand for long-lasting, scratch-resistant, and environmentally friendly coatings is driving market growth, as these coatings eliminate the need for solvents and reduce harmful emissions.
- Expansion in Automotive and Industrial Applications: Thermoplastic powder coatings are widely used in automotive and industrial manufacturing due to their ability to provide strong, protective, and aesthetically pleasing finishes. They are applied to components such as automotive parts, machinery, and infrastructure elements. The rising demand for lightweight, high-performance, and visually appealing products in these industries is pushing the adoption of thermoplastic powder coatings.
- Technological Advancements and Innovation: The development of advanced formulations, such as more heat-resistant, flexible, and eco-friendly powder coatings, is driving innovation in the market. Improvements in curing processes, customization options, and faster application techniques are making thermoplastic powder coatings more versatile and cost-effective for manufacturers. As industries look for enhanced performance characteristics and greater design flexibility, the market for these coatings continues to expand.
- Sustainability and Eco-friendly Solutions: With the growing emphasis on sustainability and environmental protection, thermoplastic powder coatings are gaining popularity due to their eco-friendly nature. These coatings are solvent-free, release fewer VOCs (volatile organic compounds), and are highly recyclable. The trend toward green manufacturing and eco-conscious product offerings, especially in industries like automotive, architecture, and industrial equipment, is significantly contributing to the market's expansion.
- Growth in Automotive and Infrastructure Sectors: Thermoplastic powder coatings are widely used in the automotive and infrastructure sectors for their excellent durability, resistance to corrosion, and high-performance characteristics. These coatings provide long-lasting protection for components exposed to harsh weather, UV light, and chemicals. As demand for vehicle parts, building materials, and infrastructure projects increases, thermoplastic powder coatings are becoming the go-to solution for enhancing the lifespan and aesthetics of such products.
- Technological Advancements in Coating Properties: The development of new thermoplastic powder formulations with enhanced properties, such as improved flexibility, heat resistance, and adhesion, is driving the growth of the market. Innovations in coating applications, such as advanced curing technologies and customized powder formulations, are expanding the use of thermoplastic powder coatings in industries like electronics, consumer goods, and industrial machinery. These advancements allow manufacturers to meet specific requirements for performance, durability, and visual appeal.
- Rising Demand for Sustainable and Durable Coatings: Thermoplastic powder coatings are gaining popularity due to their eco-friendly nature, as they do not require solvents and produce fewer emissions compared to traditional liquid coatings. The growing emphasis on sustainability and regulatory pressure for lower VOC (volatile organic compound) emissions is driving the adoption of thermoplastic powder coatings in industries like automotive, construction, and appliances.
- Expanding Automotive and Industrial Applications: The automotive and industrial sectors are major consumers of thermoplastic powder coatings due to their excellent durability, corrosion resistance, and impact resistance. These coatings are used in parts like bumpers, wheels, and industrial machinery, providing enhanced protection and aesthetics. As automotive manufacturers increasingly focus on durable, long-lasting finishes for both exterior and interior components, the market for thermoplastic powder coatings is expanding.
- Technological Innovations in Powder Coating Systems: Ongoing advancements in thermoplastic powder coating formulations, such as the development of powders with improved thermal resistance, hardness, and smoother finishes, are enhancing the performance of these coatings. Additionally, innovations in application techniques, such as electrostatic spraying, are making powder coatings more cost-effective and efficient. These technological improvements broaden the scope of thermoplastic powder coatings across diverse industries, driving market growth.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Thermoplastic Powder Coatings 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 Thermoplastic Powder Coatings 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 held the largest share of the thermoplastic powder coatings market due to the strong growth of the automotive and electronics industries in the region.
Technological advancements in coating formulations are expected to be the key market trends.
Based on end-use industry, the construction segment is expected to witness the fastest growth during the forecast period.
The Thermoplastic Powder Coatings Market is estimated to witness a CAGR of 5% from 2023 to 2031
Increasing demand for environmentally friendly coatings is driving the market growth.
Axalta Coating Systems, Allnex GMBH, IFS Coatings, PPG Industries Inc, Oxyplast UK Limited, Elastron Kimya A. ?., The Sherwin-Williams Company, Cardinal, Diamond Vogel, and Erie Powder Coatings are the key players operating in the thermoplastic powder coatings market.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Thermoplastic Powder Coatings Market - By Type
1.3.2 Thermoplastic Powder Coatings Market - By Application
1.3.3 Thermoplastic Powder Coatings Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. THERMOPLASTIC POWDER COATINGS 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. THERMOPLASTIC POWDER COATINGS 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. THERMOPLASTIC POWDER COATINGS MARKET - GLOBAL MARKET ANALYSIS
6.1. THERMOPLASTIC POWDER COATINGS - GLOBAL MARKET OVERVIEW
6.2. THERMOPLASTIC POWDER COATINGS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. THERMOPLASTIC POWDER COATINGS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. PR POWDER COATING
7.3.1. Overview
7.3.2. PR Powder Coating Market Forecast and Analysis
7.4. POLYVINYL CHLORIDE COATING
7.4.1. Overview
7.4.2. Polyvinyl Chloride Coating Market Forecast and Analysis
7.5. POLYPHENYL SULFIDE POWDER COATING
7.5.1. Overview
7.5.2. Polyphenyl Sulfide Powder Coating Market Forecast and Analysis
8. THERMOPLASTIC POWDER COATINGS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. AUTOMOTIVE
8.3.1. Overview
8.3.2. Automotive Market Forecast and Analysis
8.4. APPLIANCES AND HOUSEWARES
8.4.1. Overview
8.4.2. Appliances and housewares Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. THERMOPLASTIC POWDER COATINGS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Thermoplastic Powder Coatings Market Overview
9.1.2 North America Thermoplastic Powder Coatings Market Forecasts and Analysis
9.1.3 North America Thermoplastic Powder Coatings Market Forecasts and Analysis - By Type
9.1.4 North America Thermoplastic Powder Coatings Market Forecasts and Analysis - By Application
9.1.5 North America Thermoplastic Powder Coatings Market Forecasts and Analysis - By Countries
9.1.5.1 United States Thermoplastic Powder Coatings Market
9.1.5.1.1 United States Thermoplastic Powder Coatings Market by Type
9.1.5.1.2 United States Thermoplastic Powder Coatings Market by Application
9.1.5.2 Canada Thermoplastic Powder Coatings Market
9.1.5.2.1 Canada Thermoplastic Powder Coatings Market by Type
9.1.5.2.2 Canada Thermoplastic Powder Coatings Market by Application
9.1.5.3 Mexico Thermoplastic Powder Coatings Market
9.1.5.3.1 Mexico Thermoplastic Powder Coatings Market by Type
9.1.5.3.2 Mexico Thermoplastic Powder Coatings Market by Application
9.2. EUROPE
9.2.1 Europe Thermoplastic Powder Coatings Market Overview
9.2.2 Europe Thermoplastic Powder Coatings Market Forecasts and Analysis
9.2.3 Europe Thermoplastic Powder Coatings Market Forecasts and Analysis - By Type
9.2.4 Europe Thermoplastic Powder Coatings Market Forecasts and Analysis - By Application
9.2.5 Europe Thermoplastic Powder Coatings Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Thermoplastic Powder Coatings Market
9.2.5.1.1 Germany Thermoplastic Powder Coatings Market by Type
9.2.5.1.2 Germany Thermoplastic Powder Coatings Market by Application
9.2.5.2 France Thermoplastic Powder Coatings Market
9.2.5.2.1 France Thermoplastic Powder Coatings Market by Type
9.2.5.2.2 France Thermoplastic Powder Coatings Market by Application
9.2.5.3 Italy Thermoplastic Powder Coatings Market
9.2.5.3.1 Italy Thermoplastic Powder Coatings Market by Type
9.2.5.3.2 Italy Thermoplastic Powder Coatings Market by Application
9.2.5.4 United Kingdom Thermoplastic Powder Coatings Market
9.2.5.4.1 United Kingdom Thermoplastic Powder Coatings Market by Type
9.2.5.4.2 United Kingdom Thermoplastic Powder Coatings Market by Application
9.2.5.5 Russia Thermoplastic Powder Coatings Market
9.2.5.5.1 Russia Thermoplastic Powder Coatings Market by Type
9.2.5.5.2 Russia Thermoplastic Powder Coatings Market by Application
9.2.5.6 Rest of Europe Thermoplastic Powder Coatings Market
9.2.5.6.1 Rest of Europe Thermoplastic Powder Coatings Market by Type
9.2.5.6.2 Rest of Europe Thermoplastic Powder Coatings Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Thermoplastic Powder Coatings Market Overview
9.3.2 Asia-Pacific Thermoplastic Powder Coatings Market Forecasts and Analysis
9.3.3 Asia-Pacific Thermoplastic Powder Coatings Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Thermoplastic Powder Coatings Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Thermoplastic Powder Coatings Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Thermoplastic Powder Coatings Market
9.3.5.1.1 Australia Thermoplastic Powder Coatings Market by Type
9.3.5.1.2 Australia Thermoplastic Powder Coatings Market by Application
9.3.5.2 China Thermoplastic Powder Coatings Market
9.3.5.2.1 China Thermoplastic Powder Coatings Market by Type
9.3.5.2.2 China Thermoplastic Powder Coatings Market by Application
9.3.5.3 India Thermoplastic Powder Coatings Market
9.3.5.3.1 India Thermoplastic Powder Coatings Market by Type
9.3.5.3.2 India Thermoplastic Powder Coatings Market by Application
9.3.5.4 Japan Thermoplastic Powder Coatings Market
9.3.5.4.1 Japan Thermoplastic Powder Coatings Market by Type
9.3.5.4.2 Japan Thermoplastic Powder Coatings Market by Application
9.3.5.5 South Korea Thermoplastic Powder Coatings Market
9.3.5.5.1 South Korea Thermoplastic Powder Coatings Market by Type
9.3.5.5.2 South Korea Thermoplastic Powder Coatings Market by Application
9.3.5.6 Rest of Asia-Pacific Thermoplastic Powder Coatings Market
9.3.5.6.1 Rest of Asia-Pacific Thermoplastic Powder Coatings Market by Type
9.3.5.6.2 Rest of Asia-Pacific Thermoplastic Powder Coatings Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Thermoplastic Powder Coatings Market Overview
9.4.2 Middle East and Africa Thermoplastic Powder Coatings Market Forecasts and Analysis
9.4.3 Middle East and Africa Thermoplastic Powder Coatings Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Thermoplastic Powder Coatings Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Thermoplastic Powder Coatings Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Thermoplastic Powder Coatings Market
9.4.5.1.1 South Africa Thermoplastic Powder Coatings Market by Type
9.4.5.1.2 South Africa Thermoplastic Powder Coatings Market by Application
9.4.5.2 Saudi Arabia Thermoplastic Powder Coatings Market
9.4.5.2.1 Saudi Arabia Thermoplastic Powder Coatings Market by Type
9.4.5.2.2 Saudi Arabia Thermoplastic Powder Coatings Market by Application
9.4.5.3 U.A.E Thermoplastic Powder Coatings Market
9.4.5.3.1 U.A.E Thermoplastic Powder Coatings Market by Type
9.4.5.3.2 U.A.E Thermoplastic Powder Coatings Market by Application
9.4.5.4 Rest of Middle East and Africa Thermoplastic Powder Coatings Market
9.4.5.4.1 Rest of Middle East and Africa Thermoplastic Powder Coatings Market by Type
9.4.5.4.2 Rest of Middle East and Africa Thermoplastic Powder Coatings Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Thermoplastic Powder Coatings Market Overview
9.5.2 South and Central America Thermoplastic Powder Coatings Market Forecasts and Analysis
9.5.3 South and Central America Thermoplastic Powder Coatings Market Forecasts and Analysis - By Type
9.5.4 South and Central America Thermoplastic Powder Coatings Market Forecasts and Analysis - By Application
9.5.5 South and Central America Thermoplastic Powder Coatings Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Thermoplastic Powder Coatings Market
9.5.5.1.1 Brazil Thermoplastic Powder Coatings Market by Type
9.5.5.1.2 Brazil Thermoplastic Powder Coatings Market by Application
9.5.5.2 Argentina Thermoplastic Powder Coatings Market
9.5.5.2.1 Argentina Thermoplastic Powder Coatings Market by Type
9.5.5.2.2 Argentina Thermoplastic Powder Coatings Market by Application
9.5.5.3 Rest of South and Central America Thermoplastic Powder Coatings Market
9.5.5.3.1 Rest of South and Central America Thermoplastic Powder Coatings Market by Type
9.5.5.3.2 Rest of South and Central America Thermoplastic Powder Coatings 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. THERMOPLASTIC POWDER COATINGS MARKET, KEY COMPANY PROFILES
11.1. AKZO NOBEL N.V.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ALLNEX
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. AXALTA POLYMER POWDER
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. IFS COATINGS
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. PPG INDUSTRIES, INC.
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. PROTEC OXYPLAST GROUP
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. PULRON THERMOPLASTIC COATINGS
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. RPM INTERNATIONAL 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. SHERWIN-WILLIAMS COMPANY
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. THE 3M COMPANY
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Akzo Nobel N.V.
2. Allnex
3. Axalta Polymer Powder
4. Ifs Coatings
5. PPG Industries, Inc.
6. Protec Oxyplast Group
7. Pulron Thermoplastic Coatings
8. RPM International Inc.
9. Sherwin-Williams Company
10. The 3M 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.