UV Curable Resins Market Forecast, Trends, Scope by 2031
The UV Curable Resins Market is expected to register a CAGR of 8% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by resin type (acrylated epoxies, acrylated polyesters, acrylated urethanes, acrylated silicones, others), formulation (oligomers, monomers, photo initiators, additives, others). The report further presents analysis based on application (adhesives and sealants, coating, graphic art, packaging, printing, others). Global analysis is further broken-down at regional level and major countries. In terms of geography, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). The report offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report UV Curable Resins 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.
UV Curable Resins Market Segmentation
Resin Type- Acrylated Epoxies
- Acrylated Polyesters
- Acrylated Urethanes
- Acrylated Silicones
- Others
- Oligomers
- Monomers
- Photo initiators
- Additives
- Others
- Adhesives and Sealants
- Coating
- Graphic Art
- Packaging
- Printing
- Others
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
UV Curable Resins Market Growth Drivers- Environmental Awareness Drives Growth in UV Curable Resins Market: The rise in environmental awareness and the implementation of stricter policies are the factors influencing the growing demand for UV curable resins. These resins, unlike conventional coatings, contain lesser amounts of volatile organic compounds (VOCs), thereby conforming to environmental sustainability objectives and being a suitable option for green industries.
- Technological Advancements Enhance Efficiency and Applications of UV Curable Resins: With the advancement in technologies such as better UV light sources and reduced curing times, the applicability of UV curable resins is on the rise. Such innovations enhance the levels of productivity and the efficiency without increased energy costs allowing incorporation even in more elaborate and demanding applications.
- Rising Demand for Durable, High-Quality Coatings Boosts UV Curable Resins Usage: The rise in demand for coating solutions that are durable, scratch resistant, or appealing in appearance in sectors such as automotive, electronics, or packaging is positively impacting the uptake of UV curable resins. Their capability of offering high end finishes and exceptional durability even in the most extreme conditions is increasing their usage in many industries.
- Sustainability in Packaging and Automotive Industries: There is a growing use of UV curable resins as a part of sustainability initiatives. The low-VOC emissions and solvent usage and energy efficiency of these resins aid the fulfilment of the global environmental goals, thus these industries such as packaging and automotive use these enviro-friendly substitutes.
- Growing 3D Printing and Electronics Application:
There is an increasing need for developing more complex formulations for different applications. UV curable resins are being customized for specific applications such as 3D printing, electronics and medical devices where certain properties like flexibility, conductivity or biocompatibility are needed.
- E-Commerce Growth Fuels Demand from Packaging:
The growth of online shopping platforms is requiring more UV curable resins for packaging. Due to their rapid curing capabilities, durability and excellent visual quality finish after printing and coating, these resins are being More often used in enhancement of packaging materials which is crucial considering the high volume and fast e-commerce activities.
- UV Curable Resins Drive Precision in 3D Printing for Healthcare and Automotive: There is ample prospect for UV curable resins in the booming world of 3D printing. Their excellent fast curing abilities enable high precision and high speed 3D printing as is mostly used in industries such as health care, automobile manufacturing, and consumer goods, where there are lots of custom complex parts.
- Growth in Renewable Energy Sector:
UV curable resins are gradually finding applications in the manufacture of components for renewable energy resources such as solar panels and wind ips. The reason behind this is the emergence of durable coatings which are uv resistant for these particicular finishes encouraging more growth into the renewable energy owing to the initiatives launched worldwide for a cleaner green energy.
- Enhance Durability in Automotive Coatings and Paints:
The automotive sector is also adopting UV curable resins in advance coatings that provide minimal scratching, fast drying, and high resistance to wear out. On the other hand, with the growth of lightweight and fuel-efficient vehicles on the rise, high-performance and environmental-friendly automotive paints are in increasing demand creating an opportunity for the growing market.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the UV Curable Resins 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 UV Curable Resins 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
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Based on geography, North America held the largest share of the UV curable resins market.
Technological improvements in UV curing processes, such as enhanced UV light sources and faster curing speeds, are expanding the application scope of UV curable resins. This factor is driving the market growth.
The increasing trend toward using UV curable resins as part of sustainability initiatives, acts as a key trend in the market.
ALLNEX NETHERLANDS B.V., Arkema Group, BASF SE, DIC CORPORATION, DSM-AGI Corporation, Eternal Materials Co.,Ltd., Hitachi Chemical Co., Ltd., IGM, Mitsubishi Chemical Corporation, Miwon Specialty Chemical Co., Ltd. are the key players operating in the UV curable resins market.
The UV Curable Resins Market is estimated to witness a CAGR of 8% from 2023 to 2031
TABLE OF CONTENTS
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1UV Curable Resins Market - By Formulation
1.3.2UV Curable Resins Market - By Application
1.3.3UV Curable Resins Market - By End User
1.3.4UV Curable Resins Market - By Region
1.3.4.1By Country
2.KEY TAKEWAYS
3.RESEARCH METHODOLOGY
4.UV CURABLE RESINS MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.EXPERT OPINIONS
5.UV CURABLE RESINS 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6.UV CURABLE RESINS MARKET - GLOBAL MARKET ANALYSIS
6.1.UV CURABLE RESINS - GLOBAL MARKET OVERVIEW
6.2.UV CURABLE RESINS - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.UV CURABLE RESINS MARKET - REVENUE AND FORECASTS TO 2028 - FORMULATION
7.1.OVERVIEW
7.2.FORMULATION MARKET FORECASTS AND ANALYSIS
7.3.OLIGOMERS
7.3.1.Overview
7.3.2.Oligomers Market Forecast and Analysis
7.4.MONOMERS
7.4.1.Overview
7.4.2.Monomers Market Forecast and Analysis
7.5.PHOTOINITIATORS
7.5.1.Overview
7.5.2.Photoinitiators Market Forecast and Analysis
7.6.OTHERS
7.6.1.Overview
7.6.2.Others Market Forecast and Analysis
8.UV CURABLE RESINS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1.OVERVIEW
8.2.APPLICATION MARKET FORECASTS AND ANALYSIS
8.3.COATING
8.3.1.Overview
8.3.2.Coating Market Forecast and Analysis
8.4.INKS
8.4.1.Overview
8.4.2.Inks Market Forecast and Analysis
8.5.ADHESIVES
8.5.1.Overview
8.5.2.Adhesives Market Forecast and Analysis
8.6.OTHERS
8.6.1.Overview
8.6.2.Others Market Forecast and Analysis
9.UV CURABLE RESINS MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1.OVERVIEW
9.2.END USER MARKET FORECASTS AND ANALYSIS
9.3.INDUSTRIAL COATINGS
9.3.1.Overview
9.3.2.Industrial Coatings Market Forecast and Analysis
9.4.GRAPHIC ARTS
9.4.1.Overview
9.4.2.Graphic Arts Market Forecast and Analysis
9.5.ELECTRONICS
9.5.1.Overview
9.5.2.Electronics Market Forecast and Analysis
9.6.OTHERS
9.6.1.Overview
9.6.2.Others Market Forecast and Analysis
10.UV CURABLE RESINS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America UV Curable Resins Market Overview
10.1.2North America UV Curable Resins Market Forecasts and Analysis
10.1.3North America UV Curable Resins Market Forecasts and Analysis - By Formulation
10.1.4North America UV Curable Resins Market Forecasts and Analysis - By Application
10.1.5North America UV Curable Resins Market Forecasts and Analysis - By End User
10.1.6North America UV Curable Resins Market Forecasts and Analysis - By Countries
10.1.6.1United States UV Curable Resins Market
10.1.6.1.1United States UV Curable Resins Market by Formulation
10.1.6.1.2United States UV Curable Resins Market by Application
10.1.6.1.3United States UV Curable Resins Market by End User
10.1.6.2Canada UV Curable Resins Market
10.1.6.2.1Canada UV Curable Resins Market by Formulation
10.1.6.2.2Canada UV Curable Resins Market by Application
10.1.6.2.3Canada UV Curable Resins Market by End User
10.1.6.3Mexico UV Curable Resins Market
10.1.6.3.1Mexico UV Curable Resins Market by Formulation
10.1.6.3.2Mexico UV Curable Resins Market by Application
10.1.6.3.3Mexico UV Curable Resins Market by End User
10.2.EUROPE
10.2.1Europe UV Curable Resins Market Overview
10.2.2Europe UV Curable Resins Market Forecasts and Analysis
10.2.3Europe UV Curable Resins Market Forecasts and Analysis - By Formulation
10.2.4Europe UV Curable Resins Market Forecasts and Analysis - By Application
10.2.5Europe UV Curable Resins Market Forecasts and Analysis - By End User
10.2.6Europe UV Curable Resins Market Forecasts and Analysis - By Countries
10.2.6.1Germany UV Curable Resins Market
10.2.6.1.1Germany UV Curable Resins Market by Formulation
10.2.6.1.2Germany UV Curable Resins Market by Application
10.2.6.1.3Germany UV Curable Resins Market by End User
10.2.6.2France UV Curable Resins Market
10.2.6.2.1France UV Curable Resins Market by Formulation
10.2.6.2.2France UV Curable Resins Market by Application
10.2.6.2.3France UV Curable Resins Market by End User
10.2.6.3Italy UV Curable Resins Market
10.2.6.3.1Italy UV Curable Resins Market by Formulation
10.2.6.3.2Italy UV Curable Resins Market by Application
10.2.6.3.3Italy UV Curable Resins Market by End User
10.2.6.4United Kingdom UV Curable Resins Market
10.2.6.4.1United Kingdom UV Curable Resins Market by Formulation
10.2.6.4.2United Kingdom UV Curable Resins Market by Application
10.2.6.4.3United Kingdom UV Curable Resins Market by End User
10.2.6.5Russia UV Curable Resins Market
10.2.6.5.1Russia UV Curable Resins Market by Formulation
10.2.6.5.2Russia UV Curable Resins Market by Application
10.2.6.5.3Russia UV Curable Resins Market by End User
10.2.6.6Rest of Europe UV Curable Resins Market
10.2.6.6.1Rest of Europe UV Curable Resins Market by Formulation
10.2.6.6.2Rest of Europe UV Curable Resins Market by Application
10.2.6.6.3Rest of Europe UV Curable Resins Market by End User
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific UV Curable Resins Market Overview
10.3.2Asia-Pacific UV Curable Resins Market Forecasts and Analysis
10.3.3Asia-Pacific UV Curable Resins Market Forecasts and Analysis - By Formulation
10.3.4Asia-Pacific UV Curable Resins Market Forecasts and Analysis - By Application
10.3.5Asia-Pacific UV Curable Resins Market Forecasts and Analysis - By End User
10.3.6Asia-Pacific UV Curable Resins Market Forecasts and Analysis - By Countries
10.3.6.1Australia UV Curable Resins Market
10.3.6.1.1Australia UV Curable Resins Market by Formulation
10.3.6.1.2Australia UV Curable Resins Market by Application
10.3.6.1.3Australia UV Curable Resins Market by End User
10.3.6.2China UV Curable Resins Market
10.3.6.2.1China UV Curable Resins Market by Formulation
10.3.6.2.2China UV Curable Resins Market by Application
10.3.6.2.3China UV Curable Resins Market by End User
10.3.6.3India UV Curable Resins Market
10.3.6.3.1India UV Curable Resins Market by Formulation
10.3.6.3.2India UV Curable Resins Market by Application
10.3.6.3.3India UV Curable Resins Market by End User
10.3.6.4Japan UV Curable Resins Market
10.3.6.4.1Japan UV Curable Resins Market by Formulation
10.3.6.4.2Japan UV Curable Resins Market by Application
10.3.6.4.3Japan UV Curable Resins Market by End User
10.3.6.5South Korea UV Curable Resins Market
10.3.6.5.1South Korea UV Curable Resins Market by Formulation
10.3.6.5.2South Korea UV Curable Resins Market by Application
10.3.6.5.3South Korea UV Curable Resins Market by End User
10.3.6.6Rest of Asia-Pacific UV Curable Resins Market
10.3.6.6.1Rest of Asia-Pacific UV Curable Resins Market by Formulation
10.3.6.6.2Rest of Asia-Pacific UV Curable Resins Market by Application
10.3.6.6.3Rest of Asia-Pacific UV Curable Resins Market by End User
10.4.MIDDLE EAST AND AFRICA
10.4.1Middle East and Africa UV Curable Resins Market Overview
10.4.2Middle East and Africa UV Curable Resins Market Forecasts and Analysis
10.4.3Middle East and Africa UV Curable Resins Market Forecasts and Analysis - By Formulation
10.4.4Middle East and Africa UV Curable Resins Market Forecasts and Analysis - By Application
10.4.5Middle East and Africa UV Curable Resins Market Forecasts and Analysis - By End User
10.4.6Middle East and Africa UV Curable Resins Market Forecasts and Analysis - By Countries
10.4.6.1South Africa UV Curable Resins Market
10.4.6.1.1South Africa UV Curable Resins Market by Formulation
10.4.6.1.2South Africa UV Curable Resins Market by Application
10.4.6.1.3South Africa UV Curable Resins Market by End User
10.4.6.2Saudi Arabia UV Curable Resins Market
10.4.6.2.1Saudi Arabia UV Curable Resins Market by Formulation
10.4.6.2.2Saudi Arabia UV Curable Resins Market by Application
10.4.6.2.3Saudi Arabia UV Curable Resins Market by End User
10.4.6.3U.A.E UV Curable Resins Market
10.4.6.3.1U.A.E UV Curable Resins Market by Formulation
10.4.6.3.2U.A.E UV Curable Resins Market by Application
10.4.6.3.3U.A.E UV Curable Resins Market by End User
10.4.6.4Rest of Middle East and Africa UV Curable Resins Market
10.4.6.4.1Rest of Middle East and Africa UV Curable Resins Market by Formulation
10.4.6.4.2Rest of Middle East and Africa UV Curable Resins Market by Application
10.4.6.4.3Rest of Middle East and Africa UV Curable Resins Market by End User
10.5.SOUTH AND CENTRAL AMERICA
10.5.1South and Central America UV Curable Resins Market Overview
10.5.2South and Central America UV Curable Resins Market Forecasts and Analysis
10.5.3South and Central America UV Curable Resins Market Forecasts and Analysis - By Formulation
10.5.4South and Central America UV Curable Resins Market Forecasts and Analysis - By Application
10.5.5South and Central America UV Curable Resins Market Forecasts and Analysis - By End User
10.5.6South and Central America UV Curable Resins Market Forecasts and Analysis - By Countries
10.5.6.1Brazil UV Curable Resins Market
10.5.6.1.1Brazil UV Curable Resins Market by Formulation
10.5.6.1.2Brazil UV Curable Resins Market by Application
10.5.6.1.3Brazil UV Curable Resins Market by End User
10.5.6.2Argentina UV Curable Resins Market
10.5.6.2.1Argentina UV Curable Resins Market by Formulation
10.5.6.2.2Argentina UV Curable Resins Market by Application
10.5.6.2.3Argentina UV Curable Resins Market by End User
10.5.6.3Rest of South and Central America UV Curable Resins Market
10.5.6.3.1Rest of South and Central America UV Curable Resins Market by Formulation
10.5.6.3.2Rest of South and Central America UV Curable Resins Market by Application
10.5.6.3.3Rest of South and Central America UV Curable Resins 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.UV CURABLE RESINS MARKET, KEY COMPANY PROFILES
12.1.ALLNEX NETHERLANDS B.V.
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.ARKEMA GROUP
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.BASF SE
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.DIC 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.DSM-AGI CORPORATION
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.ETERNAL MATERIALS CO.,LTD.
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.HITACHI CHEMICAL CO., LTD.
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.IGM
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.MITSUBISHI CHEMICAL 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.MIWON SPECIALTY CHEMICAL CO., LTD.
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
The List of Companies
- ALLNEX NETHERLANDS B.V.
- Arkema Group
- BASF SE
- DIC CORPORATION
- DSM-AGI Corporation
- Eternal Materials Co.,Ltd.
- Hitachi Chemical Co., Ltd.
- IGM
- Mitsubishi Chemical Corporation
- Miwon Specialty Chemical Co., Ltd.
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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