The Triethylene Glycol Market is expected to register a CAGR of 4.1% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by application (resins and plasticizers, solvents, gas dehydration, antifreeze agent and coolants, moisturizer and emollients, and others). The report is further segmented by end-use industry (plastics, personal care and cosmetics, oil and gas, agrochemicals, dyes and pigments, automotive and transportation, and others). The report scope covers five regions: North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America and key countries under each region. The global analysis is further broken down at the regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Triethylene Glycol 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.
Triethylene Glycol Market Segmentation
Application- Resins and Plasticizers
- Solvents
- Gas Dehydration
- Antifreeze Agent and Coolants
- Moisturizer and Emollients
- Plastics
- Personal Care and Cosmetics
- Oil and Gas
- Agrochemicals
- Dyes and Pigments
- Automotive and Transportation
Strategic Insights
Triethylene Glycol Market Growth Drivers- Expansion of petrochemicals industry: Triethylene glycol (TEG) is widely used, mainly as a solvent in gas dehydration and plastics manufacture. The expanding petrochemical industry, notably in developing countries such as China, India, and Southeast Asia, is increasing its use of TEG, gradually increasing demand for TEG. As a result, the inclusion of TEG during the natural gas dewatering process is critical in making natural gas operations efficient.
- High hygroscopic property: TEG is increasingly applied in various antifreeze products, dehumidifiers, and humidifiers as it exhibits a high hygroscopic property that yields it effective in any application involving moisture control and the freezing point depression of water-based liquids. Demand for the product is growing in these applications that are mainly propelled by the increasing demand for energy-efficient HVAC systems in buildings, residential, and commercial. The usage of these products is particularly vital in cold climates and regions with high humidity.
- Increasing regulations: Increased trend of stricter environmental regulations has opened up markets for greener and safer chemical products worldwide. Due to its lesser volatility and low toxicity, TEG is in greater demand among sustainable industries compared to other glycol-based compounds. There is a trend toward cleaner energy and cleaner chemicals, which demands smaller environmental footprints from solvents used in industrial processes.
- Focus on bio-based production routes: One of the significant global market trends in regard to trimethylene glycol's future involves an interest in bio-based production. The chemical production that makes up TEG is of traditional origin from petroleum-based feedstocks, but the so-called negative impacts of the production of petrochemicals on the environment are compelling manufacturers to switch to renewable sources. Companies are more interested in bio-based alternatives for producing TEG with renewable raw materials such as plant-based feedstocks. It reduces carbon emissions while cementing interest in sustainable chemicals.
- Automation in manufacturing processes: Improved automation and process optimization in the manufacture of TEG will ensure efficiency, decrease waste, and reduce costs. Such investments, on the manufacturers' part, in recent technologies like artificial intelligence, data analytics, and machine learning will not only prove to be strategic but will also accelerate growth by reducing losses. Automation is improving the control exercised over process workflows, and precision manufacturing makes processes stronger, which is the need for quality products to meet increased demand for TEG in industrial applications.
- Ongoing industrialization in developing countries: Increased use of trimethylene glycol is seen with the ongoing industrialization of developing countries. TEG consumption is rising in Asia-Pacific and in China and India, where demand is growing. Demand increase is on account of the increased demand for gas dehydration antifreeze products and plastics manufacturing. These factors are caused by infrastructure growth, urbanization, and the rise of the middle class, all of which contribute to the demand for industrial chemicals like TEG.
- Growing demand for natural gas: TEG is an essential part of the oil and gas industry, having fabulous applications in the dehydration processes of natural gas. With the increasing amount of saving in natural gas all around the world, its demand for application in gas processing during the upcoming years will increase. The shale gas reserve development and expansion of natural gas infrastructure will continuously open an increasing number of opportunities for the manufacturers in terms of widening their market share, especially in developing regions.
- Demand from automotive industry: There is a growing market opportunity for TEG usage in antifreeze and coolant applications in the automotive industry. The automotive business is known for pushing the boundaries in traditional gasoline and electric vehicles. These expectations raise the requirement for effective cooling and anti-corrosion solutions. Because of its superior properties, TEG is a key ingredient in coolants for automobiles and HVAC systems.
- Explore applications in personal care and cosmetics: Another attractive potential is in the personal care and cosmetics market. TEG is used in skin care products, hair care formulations, and moisturizers because it holds moisture and enhances consistency. As quality and performance-oriented cosmetic goods are becoming major trends, especially in emerging economies, manufacturers can leverage this market by increasing their portfolio diversity with the help of such growing markets.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Triethylene Glycol 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 Triethylene Glycol 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
Integration of automation and process optimization in TEG production is expected to be the key market trend.
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
On the basis of geography, the triethylene glycol market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America
China Petrochemical Corp, Eastman Chemical Co, ExxonMobil Chemical Co, Helm AG, LyondellBasell Industries Holdings BV, Mitsubishi Chemical Group, NAN YA Plastics Corp, SABIC, The Dow Company, and Tokyo Chemical Industry Pvt Ltd
The major factors driving the triethylene glycol market are:
1. Rise in Industrial and Commercial Use of Dehumidifiers and Antifreeze Products.
2. Growing Demand from the Petrochemical Industry.
The Triethylene Glycol Market is estimated to witness a CAGR of 4.1% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Triethylene Glycol Market - By Purity
1.3.2 Triethylene Glycol Market - By Application
1.3.3 Triethylene Glycol Market - By End User
1.3.4 Triethylene Glycol Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. TRIETHYLENE GLYCOL 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. TRIETHYLENE GLYCOL 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. TRIETHYLENE GLYCOL MARKET - GLOBAL MARKET ANALYSIS
6.1. TRIETHYLENE GLYCOL - GLOBAL MARKET OVERVIEW
6.2. TRIETHYLENE GLYCOL - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. TRIETHYLENE GLYCOL MARKET - REVENUE AND FORECASTS TO 2028 - PURITY
7.1. OVERVIEW
7.2. PURITY MARKET FORECASTS AND ANALYSIS
7.3. PURITY 98.2%
7.3.1. Overview
7.3.2. Purity 98.2% Market Forecast and Analysis
7.4. PURITY 98.5%
7.4.1. Overview
7.4.2. Purity 98.5% Market Forecast and Analysis
7.5. PURITY 99.9%
7.5.1. Overview
7.5.2. Purity 99.9% Market Forecast and Analysis
8. TRIETHYLENE GLYCOL MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. PLASTICIZER
8.3.1. Overview
8.3.2. Plasticizer Market Forecast and Analysis
8.4. DEHUMIDIFYING AGENT
8.4.1. Overview
8.4.2. Dehumidifying Agent Market Forecast and Analysis
8.5. DEHYDRATION OF NATURAL GAS
8.5.1. Overview
8.5.2. Dehydration of Natural Gas Market Forecast and Analysis
8.6. BRAKE FLUIDS
8.6.1. Overview
8.6.2. Brake Fluids Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. TRIETHYLENE GLYCOL MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. TEXTILE
9.3.1. Overview
9.3.2. Textile Market Forecast and Analysis
9.4. OIL AND GAS
9.4.1. Overview
9.4.2. Oil and Gas Market Forecast and Analysis
9.5. CONSTRUCTION
9.5.1. Overview
9.5.2. Construction Market Forecast and Analysis
9.6. AUTOMOTIVE
9.6.1. Overview
9.6.2. Automotive Market Forecast and Analysis
9.7. OTHERS
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis
10. TRIETHYLENE GLYCOL MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Triethylene Glycol Market Overview
10.1.2 North America Triethylene Glycol Market Forecasts and Analysis
10.1.3 North America Triethylene Glycol Market Forecasts and Analysis - By Purity
10.1.4 North America Triethylene Glycol Market Forecasts and Analysis - By Application
10.1.5 North America Triethylene Glycol Market Forecasts and Analysis - By End User
10.1.6 North America Triethylene Glycol Market Forecasts and Analysis - By Countries
10.1.6.1 United States Triethylene Glycol Market
10.1.6.1.1 United States Triethylene Glycol Market by Purity
10.1.6.1.2 United States Triethylene Glycol Market by Application
10.1.6.1.3 United States Triethylene Glycol Market by End User
10.1.6.2 Canada Triethylene Glycol Market
10.1.6.2.1 Canada Triethylene Glycol Market by Purity
10.1.6.2.2 Canada Triethylene Glycol Market by Application
10.1.6.2.3 Canada Triethylene Glycol Market by End User
10.1.6.3 Mexico Triethylene Glycol Market
10.1.6.3.1 Mexico Triethylene Glycol Market by Purity
10.1.6.3.2 Mexico Triethylene Glycol Market by Application
10.1.6.3.3 Mexico Triethylene Glycol Market by End User
10.2. EUROPE
10.2.1 Europe Triethylene Glycol Market Overview
10.2.2 Europe Triethylene Glycol Market Forecasts and Analysis
10.2.3 Europe Triethylene Glycol Market Forecasts and Analysis - By Purity
10.2.4 Europe Triethylene Glycol Market Forecasts and Analysis - By Application
10.2.5 Europe Triethylene Glycol Market Forecasts and Analysis - By End User
10.2.6 Europe Triethylene Glycol Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Triethylene Glycol Market
10.2.6.1.1 Germany Triethylene Glycol Market by Purity
10.2.6.1.2 Germany Triethylene Glycol Market by Application
10.2.6.1.3 Germany Triethylene Glycol Market by End User
10.2.6.2 France Triethylene Glycol Market
10.2.6.2.1 France Triethylene Glycol Market by Purity
10.2.6.2.2 France Triethylene Glycol Market by Application
10.2.6.2.3 France Triethylene Glycol Market by End User
10.2.6.3 Italy Triethylene Glycol Market
10.2.6.3.1 Italy Triethylene Glycol Market by Purity
10.2.6.3.2 Italy Triethylene Glycol Market by Application
10.2.6.3.3 Italy Triethylene Glycol Market by End User
10.2.6.4 United Kingdom Triethylene Glycol Market
10.2.6.4.1 United Kingdom Triethylene Glycol Market by Purity
10.2.6.4.2 United Kingdom Triethylene Glycol Market by Application
10.2.6.4.3 United Kingdom Triethylene Glycol Market by End User
10.2.6.5 Russia Triethylene Glycol Market
10.2.6.5.1 Russia Triethylene Glycol Market by Purity
10.2.6.5.2 Russia Triethylene Glycol Market by Application
10.2.6.5.3 Russia Triethylene Glycol Market by End User
10.2.6.6 Rest of Europe Triethylene Glycol Market
10.2.6.6.1 Rest of Europe Triethylene Glycol Market by Purity
10.2.6.6.2 Rest of Europe Triethylene Glycol Market by Application
10.2.6.6.3 Rest of Europe Triethylene Glycol Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Triethylene Glycol Market Overview
10.3.2 Asia-Pacific Triethylene Glycol Market Forecasts and Analysis
10.3.3 Asia-Pacific Triethylene Glycol Market Forecasts and Analysis - By Purity
10.3.4 Asia-Pacific Triethylene Glycol Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Triethylene Glycol Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Triethylene Glycol Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Triethylene Glycol Market
10.3.6.1.1 Australia Triethylene Glycol Market by Purity
10.3.6.1.2 Australia Triethylene Glycol Market by Application
10.3.6.1.3 Australia Triethylene Glycol Market by End User
10.3.6.2 China Triethylene Glycol Market
10.3.6.2.1 China Triethylene Glycol Market by Purity
10.3.6.2.2 China Triethylene Glycol Market by Application
10.3.6.2.3 China Triethylene Glycol Market by End User
10.3.6.3 India Triethylene Glycol Market
10.3.6.3.1 India Triethylene Glycol Market by Purity
10.3.6.3.2 India Triethylene Glycol Market by Application
10.3.6.3.3 India Triethylene Glycol Market by End User
10.3.6.4 Japan Triethylene Glycol Market
10.3.6.4.1 Japan Triethylene Glycol Market by Purity
10.3.6.4.2 Japan Triethylene Glycol Market by Application
10.3.6.4.3 Japan Triethylene Glycol Market by End User
10.3.6.5 South Korea Triethylene Glycol Market
10.3.6.5.1 South Korea Triethylene Glycol Market by Purity
10.3.6.5.2 South Korea Triethylene Glycol Market by Application
10.3.6.5.3 South Korea Triethylene Glycol Market by End User
10.3.6.6 Rest of SouthEast Asia Triethylene Glycol Market
10.3.6.6.1 Rest of SouthEast Asia Triethylene Glycol Market by Purity
10.3.6.6.2 Rest of SouthEast Asia Triethylene Glycol Market by Application
10.3.6.6.3 Rest of SouthEast Asia Triethylene Glycol Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Triethylene Glycol Market Overview
10.4.2 Middle East and Africa Triethylene Glycol Market Forecasts and Analysis
10.4.3 Middle East and Africa Triethylene Glycol Market Forecasts and Analysis - By Purity
10.4.4 Middle East and Africa Triethylene Glycol Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Triethylene Glycol Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Triethylene Glycol Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Triethylene Glycol Market
10.4.6.1.1 South Africa Triethylene Glycol Market by Purity
10.4.6.1.2 South Africa Triethylene Glycol Market by Application
10.4.6.1.3 South Africa Triethylene Glycol Market by End User
10.4.6.2 Saudi Arabia Triethylene Glycol Market
10.4.6.2.1 Saudi Arabia Triethylene Glycol Market by Purity
10.4.6.2.2 Saudi Arabia Triethylene Glycol Market by Application
10.4.6.2.3 Saudi Arabia Triethylene Glycol Market by End User
10.4.6.3 U.A.E Triethylene Glycol Market
10.4.6.3.1 U.A.E Triethylene Glycol Market by Purity
10.4.6.3.2 U.A.E Triethylene Glycol Market by Application
10.4.6.3.3 U.A.E Triethylene Glycol Market by End User
10.4.6.4 Rest of Middle East and Africa Triethylene Glycol Market
10.4.6.4.1 Rest of Middle East and Africa Triethylene Glycol Market by Purity
10.4.6.4.2 Rest of Middle East and Africa Triethylene Glycol Market by Application
10.4.6.4.3 Rest of Middle East and Africa Triethylene Glycol Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Triethylene Glycol Market Overview
10.5.2 South and Central America Triethylene Glycol Market Forecasts and Analysis
10.5.3 South and Central America Triethylene Glycol Market Forecasts and Analysis - By Purity
10.5.4 South and Central America Triethylene Glycol Market Forecasts and Analysis - By Application
10.5.5 South and Central America Triethylene Glycol Market Forecasts and Analysis - By End User
10.5.6 South and Central America Triethylene Glycol Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Triethylene Glycol Market
10.5.6.1.1 Brazil Triethylene Glycol Market by Purity
10.5.6.1.2 Brazil Triethylene Glycol Market by Application
10.5.6.1.3 Brazil Triethylene Glycol Market by End User
10.5.6.2 Argentina Triethylene Glycol Market
10.5.6.2.1 Argentina Triethylene Glycol Market by Purity
10.5.6.2.2 Argentina Triethylene Glycol Market by Application
10.5.6.2.3 Argentina Triethylene Glycol Market by End User
10.5.6.3 Rest of South and Central America Triethylene Glycol Market
10.5.6.3.1 Rest of South and Central America Triethylene Glycol Market by Purity
10.5.6.3.2 Rest of South and Central America Triethylene Glycol Market by Application
10.5.6.3.3 Rest of South and Central America Triethylene Glycol Market by End User
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. TRIETHYLENE GLYCOL MARKET, KEY COMPANY PROFILES
12.1. BASF SE
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. EASTMAN CHEMICAL COMPANY
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. EXXON MOBIL CORPORATION
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. HUNTSMAN CORPORATION
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. INEOS LTD.
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. LOTTE CHEMICAL CORPORATION
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. LYONDELL BASELL INDUSTRIES HOLDINGS B.V.
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. ROYAL DUTCH SHELL
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. SAUDI BASIC INDUSTRIES CORPORATION
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. THE DOW CHEMICAL COMPANY
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. BASF SE
2. Eastman Chemical Company
3. Exxon Mobil Corporation
4. Huntsman Corporation
5. Ineos Ltd.
6. Lotte Chemical Corporation
7. Lyondell Basell Industries Holdings B.V.
8. Royal Dutch Shell
9. Saudi Basic Industries Corporation
10. The Dow Chemical Company
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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