Third-Party Chemical Distribution Market Strategies and Share 2031
The third-party chemical distribution market is expected to grow from US$ 270.7 billion in 2022 to US$ 347.4 billion by 2031, with an estimated CAGR of 4.2% from 2022 to 2031.
A third-party chemical distributor is an intermediate in the supply chain, selling or distributing the chemical product to the end user or the retailers. Sometimes distributors may also act as agents, earning a commission on sales delivered directly by the producer. The third-party chemical distributor offers custom solutions that meet the specific assembly, packaging, and warehousing needs. These distributors have a thorough knowledge of the logistics, sales channel, and resources to identify and fill any noticeable gaps that a chemical company might have. Chemical companies often collaborate with third-party distributors with various fees and provisions involved with the partnership.
MARKET DYNAMICS
The increasing customer demand for services such as mixing, blending, and packaging and convenient supply chain models is driving the market. Additionally, the rapid growth of the global chemical industry driven by the significant expansion of industries such as natural gas production may emerge as an important factor supporting the market growth. Chemical distribution companies increasingly focus on their marketing, sales, and distribution functions as a source of competitive advantage. These factors are expected to propel the growth of the third-party chemical distribution market during the forecast period.
MARKET SCOPE
The "Global Third-Party Chemical Distribution Market Analysis to 2031" is a specialized and in-depth study of the third-party chemical distribution market with a special focus on global market trend analysis. The report aims to provide an overview of the third-party chemical distribution market with detailed market segmentation. It provides key statistics on the status of leading market players and offers major trends and opportunities in the market.
Strategic Insights
MARKET SEGMENTATION
The global third-party chemical distribution market is bifurcated into type and end-user. Based on type, the market is segmented into commodity chemicals (coatings, adhesives, sealants, and elastomers; agrochemicals; construction chemicals; specialty polymer & resins; and others) and specialty chemicals (plastics & polymers, synthetic rubbers, explosives, petrochemicals, and others). Based on end-user, the market is segmented into automotive, electronics, construction, oil & gas, pharmaceuticals, and others.
The global third-party chemical distribution market is segmented into five major regions North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The report covers an analysis and forecast of 18 countries globally, along with current trends and opportunities prevailing in these regions.
Asia Pacific dominated the third-party chemical distribution market in 2021. An increase in manufacturing activities and a significant rise in per capita disposable income are driving the third-party chemical distribution market. Countries such as China, India, Vietnam, Malaysia, and Thailand are witnessing the expansion of automotive, construction, and electrical & electronics industries.
The report analyzes the factors influencing the third-party chemical distribution market from both the demand and supply side and further evaluates market dynamics, i.e., drivers, restraints, opportunities, and future trends, impacting the market during the forecast period. The report also provides an exhaustive Porter's five forces analysis, highlighting the factors influencing the third-party chemical distribution market.
IMPACT OF COVID-19 PANDEMIC
The COVID-19 pandemic has had a mixed impact on the overall third-party chemical distribution market. The imposition of the lockdown temporarily discontinued various manufacturing activities, resulting in a decrease in supply, which substantially impacted the third-party chemical distribution market. However, increased demand for medicines globally cushioned the third-party distribution market.
Disruptions to manufacturing in different developing and developed countries such as China, India, Germany, and the US rippled through global supply chains. Cargo was backlogged at major container ports, travel restrictions led to a shortage of truck drivers to pick up containers, and ocean carriers canceled sailings. The resulting shortage of components affected manufacturing operations overseas. Major industries worldwide, including automotive, electronics, and consumer goods, were affected.
In 2021, the marketplace witnessed growth as governments of various countries announced the relaxation of several restrictions, including lockdowns. The manufacturers resumed their operations at full capacity, which helped them overcome the demand and supply gap. Many manufacturers expanded their production capacities to meet the rising consumer demand, which supported the recovery of the third-party chemical distribution market.
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The global third-party chemical distribution market is segmented into five major regions North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The report covers an analysis and forecast of 18 countries globally, along with current trends and opportunities prevailing in these regions.
Asia Pacific dominated the third-party chemical distribution market in 2021. An increase in manufacturing activities and a significant rise in per capita disposable income are driving the third-party chemical distribution market. Countries such as China, India, Vietnam, Malaysia, and Thailand are witnessing the expansion of automotive, construction, and electrical & electronics industries.
The report analyzes the factors influencing the third-party chemical distribution market from both the demand and supply side and further evaluates market dynamics, i.e., drivers, restraints, opportunities, and future trends, impacting the market during the forecast period. The report also provides an exhaustive Porter's five forces analysis, highlighting the factors influencing the third-party chemical distribution market.
IMPACT OF COVID-19 PANDEMIC
The COVID-19 pandemic has had a mixed impact on the overall third-party chemical distribution market. The imposition of the lockdown temporarily discontinued various manufacturing activities, resulting in a decrease in supply, which substantially impacted the third-party chemical distribution market. However, increased demand for medicines globally cushioned the third-party distribution market.
Disruptions to manufacturing in different developing and developed countries such as China, India, Germany, and the US rippled through global supply chains. Cargo was backlogged at major container ports, travel restrictions led to a shortage of truck drivers to pick up containers, and ocean carriers canceled sailings. The resulting shortage of components affected manufacturing operations overseas. Major industries worldwide, including automotive, electronics, and consumer goods, were affected.
In 2021, the marketplace witnessed growth as governments of various countries announced the relaxation of several restrictions, including lockdowns. The manufacturers resumed their operations at full capacity, which helped them overcome the demand and supply gap. Many manufacturers expanded their production capacities to meet the rising consumer demand, which supported the recovery of the third-party chemical distribution market.
MARKET PLAYERS
The reports cover key developments in organic and inorganic growth strategies in the third-party chemical distribution market. Various companies are focusing on organic growth strategies such as product launches, product approvals, patents, and events. Inorganic growth strategy activities witnessed in the market were acquisitions, partnerships, and collaborations. These activities have paved the way for business expansion and the customer base of market players. Market players are anticipated to have lucrative growth opportunities in the coming years due to the rising demand for third-party chemical distribution.
The report includes key company profiles operating in the third-party chemical distribution market, along with their SWOT analysis and market strategies. It also focuses on leading industry players with information, such as company profiles, components and services offered, financial information of the last three years, and key development in the past five years.
Key Companies Operating in Third-Party Chemical Distribution Market:
- Azelis Group
- Barentz International BV
- Brenntag North America, Inc.
- ICC Chemical Corporation
- IMCD NV.
- Jebsen & Jessen Pte Ltd.
- Petrochem
- Protea Chemicals
- REDA Chemicals
- Univar Solutions Inc.
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, End User, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
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 Third-Party Chemical Distribution Market - By Type
1.3.2 Third-Party Chemical Distribution Market - By Services
1.3.3 Third-Party Chemical Distribution Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. THIRD-PARTY CHEMICAL DISTRIBUTION 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. THIRD-PARTY CHEMICAL DISTRIBUTION 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. THIRD-PARTY CHEMICAL DISTRIBUTION MARKET - GLOBAL MARKET ANALYSIS
6.1. THIRD-PARTY CHEMICAL DISTRIBUTION - GLOBAL MARKET OVERVIEW
6.2. THIRD-PARTY CHEMICAL DISTRIBUTION - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. THIRD-PARTY CHEMICAL DISTRIBUTION MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. COMMODITY CHEMICALS
7.3.1. Overview
7.3.2. Commodity Chemicals Market Forecast and Analysis
7.4. SPECIALTY CHEMICALS
7.4.1. Overview
7.4.2. Specialty Chemicals Market Forecast and Analysis
8. THIRD-PARTY CHEMICAL DISTRIBUTION MARKET - REVENUE AND FORECASTS TO 2028 - SERVICES
8.1. OVERVIEW
8.2. SERVICES MARKET FORECASTS AND ANALYSIS
8.3. MATERIAL HANDLING
8.3.1. Overview
8.3.2. Material Handling Market Forecast and Analysis
8.4. PACKAGING
8.4.1. Overview
8.4.2. Packaging Market Forecast and Analysis
8.5. MIXING
8.5.1. Overview
8.5.2. Mixing Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. THIRD-PARTY CHEMICAL DISTRIBUTION MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Third-Party Chemical Distribution Market Overview
9.1.2 North America Third-Party Chemical Distribution Market Forecasts and Analysis
9.1.3 North America Third-Party Chemical Distribution Market Forecasts and Analysis - By Type
9.1.4 North America Third-Party Chemical Distribution Market Forecasts and Analysis - By Services
9.1.5 North America Third-Party Chemical Distribution Market Forecasts and Analysis - By Countries
9.1.5.1 United States Third-Party Chemical Distribution Market
9.1.5.1.1 United States Third-Party Chemical Distribution Market by Type
9.1.5.1.2 United States Third-Party Chemical Distribution Market by Services
9.1.5.2 Canada Third-Party Chemical Distribution Market
9.1.5.2.1 Canada Third-Party Chemical Distribution Market by Type
9.1.5.2.2 Canada Third-Party Chemical Distribution Market by Services
9.1.5.3 Mexico Third-Party Chemical Distribution Market
9.1.5.3.1 Mexico Third-Party Chemical Distribution Market by Type
9.1.5.3.2 Mexico Third-Party Chemical Distribution Market by Services
9.2. EUROPE
9.2.1 Europe Third-Party Chemical Distribution Market Overview
9.2.2 Europe Third-Party Chemical Distribution Market Forecasts and Analysis
9.2.3 Europe Third-Party Chemical Distribution Market Forecasts and Analysis - By Type
9.2.4 Europe Third-Party Chemical Distribution Market Forecasts and Analysis - By Services
9.2.5 Europe Third-Party Chemical Distribution Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Third-Party Chemical Distribution Market
9.2.5.1.1 Germany Third-Party Chemical Distribution Market by Type
9.2.5.1.2 Germany Third-Party Chemical Distribution Market by Services
9.2.5.2 France Third-Party Chemical Distribution Market
9.2.5.2.1 France Third-Party Chemical Distribution Market by Type
9.2.5.2.2 France Third-Party Chemical Distribution Market by Services
9.2.5.3 Italy Third-Party Chemical Distribution Market
9.2.5.3.1 Italy Third-Party Chemical Distribution Market by Type
9.2.5.3.2 Italy Third-Party Chemical Distribution Market by Services
9.2.5.4 United Kingdom Third-Party Chemical Distribution Market
9.2.5.4.1 United Kingdom Third-Party Chemical Distribution Market by Type
9.2.5.4.2 United Kingdom Third-Party Chemical Distribution Market by Services
9.2.5.5 Russia Third-Party Chemical Distribution Market
9.2.5.5.1 Russia Third-Party Chemical Distribution Market by Type
9.2.5.5.2 Russia Third-Party Chemical Distribution Market by Services
9.2.5.6 Rest of Europe Third-Party Chemical Distribution Market
9.2.5.6.1 Rest of Europe Third-Party Chemical Distribution Market by Type
9.2.5.6.2 Rest of Europe Third-Party Chemical Distribution Market by Services
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Third-Party Chemical Distribution Market Overview
9.3.2 Asia-Pacific Third-Party Chemical Distribution Market Forecasts and Analysis
9.3.3 Asia-Pacific Third-Party Chemical Distribution Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Third-Party Chemical Distribution Market Forecasts and Analysis - By Services
9.3.5 Asia-Pacific Third-Party Chemical Distribution Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Third-Party Chemical Distribution Market
9.3.5.1.1 Australia Third-Party Chemical Distribution Market by Type
9.3.5.1.2 Australia Third-Party Chemical Distribution Market by Services
9.3.5.2 China Third-Party Chemical Distribution Market
9.3.5.2.1 China Third-Party Chemical Distribution Market by Type
9.3.5.2.2 China Third-Party Chemical Distribution Market by Services
9.3.5.3 India Third-Party Chemical Distribution Market
9.3.5.3.1 India Third-Party Chemical Distribution Market by Type
9.3.5.3.2 India Third-Party Chemical Distribution Market by Services
9.3.5.4 Japan Third-Party Chemical Distribution Market
9.3.5.4.1 Japan Third-Party Chemical Distribution Market by Type
9.3.5.4.2 Japan Third-Party Chemical Distribution Market by Services
9.3.5.5 South Korea Third-Party Chemical Distribution Market
9.3.5.5.1 South Korea Third-Party Chemical Distribution Market by Type
9.3.5.5.2 South Korea Third-Party Chemical Distribution Market by Services
9.3.5.6 Rest of Asia-Pacific Third-Party Chemical Distribution Market
9.3.5.6.1 Rest of Asia-Pacific Third-Party Chemical Distribution Market by Type
9.3.5.6.2 Rest of Asia-Pacific Third-Party Chemical Distribution Market by Services
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Third-Party Chemical Distribution Market Overview
9.4.2 Middle East and Africa Third-Party Chemical Distribution Market Forecasts and Analysis
9.4.3 Middle East and Africa Third-Party Chemical Distribution Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Third-Party Chemical Distribution Market Forecasts and Analysis - By Services
9.4.5 Middle East and Africa Third-Party Chemical Distribution Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Third-Party Chemical Distribution Market
9.4.5.1.1 South Africa Third-Party Chemical Distribution Market by Type
9.4.5.1.2 South Africa Third-Party Chemical Distribution Market by Services
9.4.5.2 Saudi Arabia Third-Party Chemical Distribution Market
9.4.5.2.1 Saudi Arabia Third-Party Chemical Distribution Market by Type
9.4.5.2.2 Saudi Arabia Third-Party Chemical Distribution Market by Services
9.4.5.3 U.A.E Third-Party Chemical Distribution Market
9.4.5.3.1 U.A.E Third-Party Chemical Distribution Market by Type
9.4.5.3.2 U.A.E Third-Party Chemical Distribution Market by Services
9.4.5.4 Rest of Middle East and Africa Third-Party Chemical Distribution Market
9.4.5.4.1 Rest of Middle East and Africa Third-Party Chemical Distribution Market by Type
9.4.5.4.2 Rest of Middle East and Africa Third-Party Chemical Distribution Market by Services
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Third-Party Chemical Distribution Market Overview
9.5.2 South and Central America Third-Party Chemical Distribution Market Forecasts and Analysis
9.5.3 South and Central America Third-Party Chemical Distribution Market Forecasts and Analysis - By Type
9.5.4 South and Central America Third-Party Chemical Distribution Market Forecasts and Analysis - By Services
9.5.5 South and Central America Third-Party Chemical Distribution Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Third-Party Chemical Distribution Market
9.5.5.1.1 Brazil Third-Party Chemical Distribution Market by Type
9.5.5.1.2 Brazil Third-Party Chemical Distribution Market by Services
9.5.5.2 Argentina Third-Party Chemical Distribution Market
9.5.5.2.1 Argentina Third-Party Chemical Distribution Market by Type
9.5.5.2.2 Argentina Third-Party Chemical Distribution Market by Services
9.5.5.3 Rest of South and Central America Third-Party Chemical Distribution Market
9.5.5.3.1 Rest of South and Central America Third-Party Chemical Distribution Market by Type
9.5.5.3.2 Rest of South and Central America Third-Party Chemical Distribution Market by Services
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. THIRD-PARTY CHEMICAL DISTRIBUTION MARKET, KEY COMPANY PROFILES
11.1. AZELIS
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. BARENTZ
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. BRENNTAG NORTH AMERICA, INC.
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. ICC CHEMICAL CORPORATION
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. IMCD N.V.
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. JEBSEN AND JESSEN PTE LTD.
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. PETROCHEM
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. PROTEA CHEMICALS
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. REDA CHEMICALS
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. UNIVAR INC.
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. Azelis
2. BARENTZ
3. Brenntag North America, Inc.
4. ICC Chemical Corporation
5. IMCD N.V.
6. Jebsen and Jessen Pte Ltd.
7. Petrochem
8. Protea Chemicals
9. REDA Chemicals
10. Univar Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- 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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