Water Based Resins Market Growth Report and Size by 2031
The Water Based Resins Market is expected to register a CAGR of 4% 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 Type (Acrylic, Epoxy, Alkyld, Vinyl, Polyurethane, Amino, Polyester, and Others). The report further presents analysis based on Technology (Solvent based, Water based, and Others). Based on Application report is segmented into (Industrial Coatings, Automotive Coatings, Wood Coatings, Protective Coatings, Architectural Coatings, Marine Coatings, Adhesive and Sealants, and Others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Water Based 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.
Water Based Resins Market Segmentation
Type- Acrylic
- Epoxy
- Alkyld
- Vinyl
- Polyurethane
- Amino
- Polyester
- Solvent based
- Water based
Strategic Insights
Water Based Resins Market Growth Drivers- Lower Carbon Footprint Manufacturing: The water-based resins market is being nourished by minimal carbon footprint manufacturing. Because of the apparent heightening pressure on manufacturers and industries to limit their footprint on the environment, transforming from solvent resins-based into water-based resins has primarily been the answer engineered towards meeting environmental demands. Such kinds of resins involve the manufacture using a lesser emission process, which increases their sustainability.
- Stricter Regulations Drive Shift to Water-Based Resins for Lower VOC Emissions: With it, many nations are advancing stricter regulations on VOC emissions, making the industries look at greener alternatives. Water-based resins massively improve the lower building of VOCs, thus contributing to a cleaner atmosphere and a more sustainable ecosystem. This transformation of manufacturing methods to low carbon must be done by industries such as coatings, automotive, and construction.
- Growing Consumer and Business Awareness of Carbon Footprints Boosts Demand for Water-Based Resins: Furthermore, this trend stretches towards the greater consumer-and-business-awareness towards carbon footprints, and consumers now look to buy products with lower carbon footprints. This too goes with the rising demand for water-based resins. Their application in the above uses paints and other coatings, adhesives, and inks means that further carbon footprint reduction will be realized and hence an even bigger market opportunity to tap into.
- Bio-based Resin Development: Research towards biogenic resin has been a shifting future trend and has recently stimulated the growth of the market towards water-based resins. With the urge of industries to have more sustainable substitutions, such bio-based resins made from renewable resources, such as plant oils and natural sugars, have gained more ground under acceptance. Such resins are used to provide eco-friendly solutions with reduced environmental footprint compared to petroleumbased options.
- Biogenic Resin Research Drives Growth in Eco-Friendly Water-Based Resins: Biogenic resin research has been an emerging future trend, and it has lately enthralled an impetus in the market of water-based resins. Bio-based resins having entry made into renewable sources-that is, from plant oils and natural sugars-have gained more use because of that urgent demand for industries to have more sustainable replacements. Such resins have been provided as eco-friendly solutions with reduced environmental footprint compared to petroleumbased options.
- Cost Reductions and Biodegradability Boost Bio-Based Resins' Demand in Developing Countries: Now, those that will increase the need from developing countries are the cost reductions in carbon entry plus biodegradability. This is pertinent to global trends toward sustainability; moving away from fossil fuels dependency. Bio-based resins currently have penetrated more applications, that is, coatings, adhesives, and packaging. There, eco-savvy consumers and businesses tend to prefer greener materials.
- Sustainable Packaging Solutions: The water-based resins market is anticipated to generate significant contributions toward good growth owing to sustainable packaging solutions. It is the contemporary issue of rampant environmental concern representation among businesses and consumers, hence the demand for these green packages. Water-based resins are non-toxic and biodegradable; thus, they fit well into producing sustainable packaging applications and then take ausage in the industries.
- Regulations and Consumer Demand Drive the Adoption of Water-Based Resins in Sustainable Packaging: Several regulations continue to shove the sustainable packaging initiative and increased demand for green products by consumers. Water-based resins act as alternatives to petroleum resins because they are equally pollutants, differing in that they have a lower volatile organic content polluting most of the environment. It follows from this that industries, in most instances, meet the stiffer environmental laws upon not exhausting harmful emissions with use of water-based resins.
- Water-Based Resins Enhance Durability and Sustainability in Packaging, Boosting Market Growth: Water-based resins are adhesives, coatings, and films used in the packaging industry with benefits of durability, protection, and sustainability. In food packaging, for example, these components can increase the safety of the products, provide water resistance, and offer potential for recycling of the products. More demand for such sustainable packaging in many segments, including food and beverage, toiletries, cosmetics, and e-commerce, is anticipated to drive the market for water-based resins even more.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Water Based 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 Water Based 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
This text is related
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 water based resins market.
Based on type, epoxy is expected to witness the fastest growth during the forecast period
AkzoNobel, Allnex Group, BASFare some of the key players operating in the water based resins market
The Water Based Resins Market is estimated to witness a CAGR of 4% from 2023 to 2031
Lower Carbon Footprint Manufacturing is driving the market growth
Bio-based Resin Development is expected to be the key market trends.
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 Water Based Resins Market - By Type
1.3.2 Water Based Resins Market - By Technology
1.3.3 Water Based Resins Market - By Application
1.3.4 Water Based Resins Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. WATER BASED RESINS 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. WATER BASED 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. WATER BASED RESINS MARKET - GLOBAL MARKET ANALYSIS
6.1. WATER BASED RESINS - GLOBAL MARKET OVERVIEW
6.2. WATER BASED RESINS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. WATER BASED RESINS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. ACRYLIC
7.3.1. Overview
7.3.2. Acrylic Market Forecast and Analysis
7.4. EPOXY
7.4.1. Overview
7.4.2. Epoxy Market Forecast and Analysis
7.5. ALKYLD
7.5.1. Overview
7.5.2. Alkyld Market Forecast and Analysis
7.6. VINYL
7.6.1. Overview
7.6.2. Vinyl Market Forecast and Analysis
7.7. POLYURETHANE
7.7.1. Overview
7.7.2. Polyurethane Market Forecast and Analysis
7.8. AMINO
7.8.1. Overview
7.8.2. Amino Market Forecast and Analysis
7.9. POLYESTER
7.9.1. Overview
7.9.2. Polyester Market Forecast and Analysis
7.10. OTHERS
7.10.1. Overview
7.10.2. Others Market Forecast and Analysis
8. WATER BASED RESINS MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
8.1. OVERVIEW
8.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
8.3. SOLVENT BASED
8.3.1. Overview
8.3.2. Solvent based Market Forecast and Analysis
8.4. WATER BASED
8.4.1. Overview
8.4.2. Water based Market Forecast and Analysis
8.5. HIGH SOLIDS
8.5.1. Overview
8.5.2. High Solids Market Forecast and Analysis
8.6. UV CURES
8.6.1. Overview
8.6.2. UV Cures Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. WATER BASED RESINS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. INDUSTRIAL COATINGS
9.3.1. Overview
9.3.2. Industrial Coatings Market Forecast and Analysis
9.4. AUTOMOTIVE COATINGS
9.4.1. Overview
9.4.2. Automotive Coatings Market Forecast and Analysis
9.5. WOOD COATINGS
9.5.1. Overview
9.5.2. Wood Coatings Market Forecast and Analysis
9.6. PROTECTIVE COATINGS
9.6.1. Overview
9.6.2. Protective Coatings Market Forecast and Analysis
9.7. ARCHITECTURAL COATINGS
9.7.1. Overview
9.7.2. Architectural Coatings Market Forecast and Analysis
9.8. MARINE COATINGS
9.8.1. Overview
9.8.2. Marine Coatings Market Forecast and Analysis
9.9. ADHESIVE AND SEALANTS
9.9.1. Overview
9.9.2. Adhesive and Sealants Market Forecast and Analysis
9.10. OTHERS
9.10.1. Overview
9.10.2. Others Market Forecast and Analysis
10. WATER BASED RESINS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Water Based Resins Market Overview
10.1.2 North America Water Based Resins Market Forecasts and Analysis
10.1.3 North America Water Based Resins Market Forecasts and Analysis - By Type
10.1.4 North America Water Based Resins Market Forecasts and Analysis - By Technology
10.1.5 North America Water Based Resins Market Forecasts and Analysis - By Application
10.1.6 North America Water Based Resins Market Forecasts and Analysis - By Countries
10.1.6.1 Canada Water Based Resins Market
10.1.6.1.1 Canada Water Based Resins Market by Type
10.1.6.1.2 Canada Water Based Resins Market by Technology
10.1.6.1.3 Canada Water Based Resins Market by Application
10.1.6.2 Mexico Water Based Resins Market
10.1.6.2.1 Mexico Water Based Resins Market by Type
10.1.6.2.2 Mexico Water Based Resins Market by Technology
10.1.6.2.3 Mexico Water Based Resins Market by Application
10.1.6.3 US Water Based Resins Market
10.1.6.3.1 US Water Based Resins Market by Type
10.1.6.3.2 US Water Based Resins Market by Technology
10.1.6.3.3 US Water Based Resins Market by Application
10.2. EUROPE
10.2.1 Europe Water Based Resins Market Overview
10.2.2 Europe Water Based Resins Market Forecasts and Analysis
10.2.3 Europe Water Based Resins Market Forecasts and Analysis - By Type
10.2.4 Europe Water Based Resins Market Forecasts and Analysis - By Technology
10.2.5 Europe Water Based Resins Market Forecasts and Analysis - By Application
10.2.6 Europe Water Based Resins Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Water Based Resins Market
10.2.6.1.1 Germany Water Based Resins Market by Type
10.2.6.1.2 Germany Water Based Resins Market by Technology
10.2.6.1.3 Germany Water Based Resins Market by Application
10.2.6.2 France Water Based Resins Market
10.2.6.2.1 France Water Based Resins Market by Type
10.2.6.2.2 France Water Based Resins Market by Technology
10.2.6.2.3 France Water Based Resins Market by Application
10.2.6.3 Italy Water Based Resins Market
10.2.6.3.1 Italy Water Based Resins Market by Type
10.2.6.3.2 Italy Water Based Resins Market by Technology
10.2.6.3.3 Italy Water Based Resins Market by Application
10.2.6.4 United Kingdom Water Based Resins Market
10.2.6.4.1 United Kingdom Water Based Resins Market by Type
10.2.6.4.2 United Kingdom Water Based Resins Market by Technology
10.2.6.4.3 United Kingdom Water Based Resins Market by Application
10.2.6.5 Russia Water Based Resins Market
10.2.6.5.1 Russia Water Based Resins Market by Type
10.2.6.5.2 Russia Water Based Resins Market by Technology
10.2.6.5.3 Russia Water Based Resins Market by Application
10.2.6.6 Rest of Europe Water Based Resins Market
10.2.6.6.1 Rest of Europe Water Based Resins Market by Type
10.2.6.6.2 Rest of Europe Water Based Resins Market by Technology
10.2.6.6.3 Rest of Europe Water Based Resins Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Water Based Resins Market Overview
10.3.2 Asia-Pacific Water Based Resins Market Forecasts and Analysis
10.3.3 Asia-Pacific Water Based Resins Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Water Based Resins Market Forecasts and Analysis - By Technology
10.3.5 Asia-Pacific Water Based Resins Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Water Based Resins Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Water Based Resins Market
10.3.6.1.1 Australia Water Based Resins Market by Type
10.3.6.1.2 Australia Water Based Resins Market by Technology
10.3.6.1.3 Australia Water Based Resins Market by Application
10.3.6.2 China Water Based Resins Market
10.3.6.2.1 China Water Based Resins Market by Type
10.3.6.2.2 China Water Based Resins Market by Technology
10.3.6.2.3 China Water Based Resins Market by Application
10.3.6.3 India Water Based Resins Market
10.3.6.3.1 India Water Based Resins Market by Type
10.3.6.3.2 India Water Based Resins Market by Technology
10.3.6.3.3 India Water Based Resins Market by Application
10.3.6.4 Japan Water Based Resins Market
10.3.6.4.1 Japan Water Based Resins Market by Type
10.3.6.4.2 Japan Water Based Resins Market by Technology
10.3.6.4.3 Japan Water Based Resins Market by Application
10.3.6.5 South Korea Water Based Resins Market
10.3.6.5.1 South Korea Water Based Resins Market by Type
10.3.6.5.2 South Korea Water Based Resins Market by Technology
10.3.6.5.3 South Korea Water Based Resins Market by Application
10.3.6.6 Rest of Asia-Pacific Water Based Resins Market
10.3.6.6.1 Rest of Asia-Pacific Water Based Resins Market by Type
10.3.6.6.2 Rest of Asia-Pacific Water Based Resins Market by Technology
10.3.6.6.3 Rest of Asia-Pacific Water Based Resins Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Water Based Resins Market Overview
10.4.2 Middle East and Africa Water Based Resins Market Forecasts and Analysis
10.4.3 Middle East and Africa Water Based Resins Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Water Based Resins Market Forecasts and Analysis - By Technology
10.4.5 Middle East and Africa Water Based Resins Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Water Based Resins Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Water Based Resins Market
10.4.6.1.1 South Africa Water Based Resins Market by Type
10.4.6.1.2 South Africa Water Based Resins Market by Technology
10.4.6.1.3 South Africa Water Based Resins Market by Application
10.4.6.2 Saudi Arabia Water Based Resins Market
10.4.6.2.1 Saudi Arabia Water Based Resins Market by Type
10.4.6.2.2 Saudi Arabia Water Based Resins Market by Technology
10.4.6.2.3 Saudi Arabia Water Based Resins Market by Application
10.4.6.3 U.A.E Water Based Resins Market
10.4.6.3.1 U.A.E Water Based Resins Market by Type
10.4.6.3.2 U.A.E Water Based Resins Market by Technology
10.4.6.3.3 U.A.E Water Based Resins Market by Application
10.4.6.4 Rest of Middle East and Africa Water Based Resins Market
10.4.6.4.1 Rest of Middle East and Africa Water Based Resins Market by Type
10.4.6.4.2 Rest of Middle East and Africa Water Based Resins Market by Technology
10.4.6.4.3 Rest of Middle East and Africa Water Based Resins Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Water Based Resins Market Overview
10.5.2 South and Central America Water Based Resins Market Forecasts and Analysis
10.5.3 South and Central America Water Based Resins Market Forecasts and Analysis - By Type
10.5.4 South and Central America Water Based Resins Market Forecasts and Analysis - By Technology
10.5.5 South and Central America Water Based Resins Market Forecasts and Analysis - By Application
10.5.6 South and Central America Water Based Resins Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Water Based Resins Market
10.5.6.1.1 Brazil Water Based Resins Market by Type
10.5.6.1.2 Brazil Water Based Resins Market by Technology
10.5.6.1.3 Brazil Water Based Resins Market by Application
10.5.6.2 Argentina Water Based Resins Market
10.5.6.2.1 Argentina Water Based Resins Market by Type
10.5.6.2.2 Argentina Water Based Resins Market by Technology
10.5.6.2.3 Argentina Water Based Resins Market by Application
10.5.6.3 Rest of South and Central America Water Based Resins Market
10.5.6.3.1 Rest of South and Central America Water Based Resins Market by Type
10.5.6.3.2 Rest of South and Central America Water Based Resins Market by Technology
10.5.6.3.3 Rest of South and Central America Water Based Resins Market by Application
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. WATER BASED RESINS MARKET, KEY COMPANY PROFILES
12.1. AKZONOBEL
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. ALLNEX 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
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. COVESTRO AG
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. CYTEC INDUSTRIES INC.
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. DOWDUPONT
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. DSM COATING RESINS
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. HEXION INC.
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. NAN YA PLASTICS 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 LUBRIZOL CORPORATION
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
- AkzoNobel
- Allnex Group
- BASF
- Covestro AG
- Cytec Industries Inc.
- DowDuPont
- DSM Coating Resins
- Hexion Inc.
- Nan Ya Plastics Corporation
- The Lubrizol Corporation
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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