The 2-Ethylhexanoic Acid Market is expected to register a CAGR of 6% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The 2-ethylhexanoic acid market report is segmented by method of production (butyraldehyde and octanol). The market is segmented based on the application (PVB plasticizer, lubricants, paint dryers, PVC stabilizers, drugs, and others). The market is segmented based on the end-use industry (chemicals, paints and coatings, personal care and cosmetics, pharmaceuticals, and others). The global analysis is further broken down at the regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis, segments, regions, and countries. The report covers market trends, as well as market dynamics such as drivers, restraints, and key opportunities. The report also covers industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the market.
Purpose of the ReportThe report 2-Ethylhexanoic Acid 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.
2-Ethylhexanoic Acid Market Segmentation
Method of Production- Butyraldehyde
- Octanol
- PVB Plasticizer
- Lubricants
- Paint Dryers
- PVC Stabilizers
- Drugs
- Chemicals
- Paints and Coatings
- Personal Care and Cosmetics
- Pharmaceuticals
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
2-Ethylhexanoic Acid Market Growth Drivers- Chemical Manufacturing and Market Growth: The foremost factor responsible for the growth of the market for 2-ethylhexanoic acid is the associated chemical manufacturing purposes. It serves as an intermediate in the manufacture of plasticizers, synthetic lubricants, and paving or painting powders. With the manufacturing companies pursuing new materials that make products more durable and functional, growth in the 2-ethylhexanoic acid is fueled.
- Automotive Industry is a key consumer: One of the largest consumers of 2-ethylhexanoic acid is the automotive industry, owing to the demand for its lubricants and additives for enhanced engine performance and effectiveness.
- Environmental regulations and the growing need of consumers: Environmental regulations and the growing need of consumersfor sustainable products are also boosting market growth. 2-ethylhexanoic acid is also included in the formulation of some products that are made to conform to strict environmental requirements. Thus, as companies aim at lowering their operations’ glacial warming potential and making sure that their products are more environmentally friendly, the adoption of 2-ethylhexanoic acid, among other products will rise.
- Modernization in Production Methods: A resolve is evident on the mass level towards modernization with the aim of transforming the procedures involved in the making of 2-ethylhexanoic acid. These include new technologies such as better catalysts and bio-based raw materials. These developments have contributed to the transition in the oil industry, where it has employed the use of environmentally friendly technology.
- Emerging Markets and Market Growth: The increasing share of emerging markets is expected to fuel market growth. Significant expansion in the usage of 2-ethylhexanoic acid is being observed in developing countries, especially in the Asia-Pacific region. Due to these factors, chemical as well as 2-ethylhexanoic acid consumption more so in this region, is on the rise.
- Strategic Focus on High-Performance Materials: The manufacturers, therefore, are leaning toward these economies in order to meet the rising demand for high-quality, high-performance materials that are used across many sectors. Overall, the trends, such as expansion in emerging markets and technological advancement in the production process, are expected to fuel the market growth during the forecast period.
- Increasing Demand for Bio-Based Alternatives: Demand for a bio-based replacement for conventional 2-ethylhexanoic acid is on the increase, with the changing focus towards sustainability. Organizations can channel efforts towards improving the chemical to suit the environment since the need for ecological products is on the rise across several sectors, including plastics and coatings.
- New Markets for 2-Ethylhexanoic Acid: 2-ethylhexanoic acid may also have additional markets not only domestically but geographically to other industry i.e. renewable energy advanced materials. For instance, its use in the manufacture of custom-made lubricants for wind turbines or solar panels can introduce some market segments that were previously not in existence.
- Strategic Alliances for Market Expansion: Players operating in the 2-ethylhexanoic acid markets are going a step higher and forming strategic alliances with the players in other related markets. With this, companies are able to utilize their strongholds, use their resources, and most importantly, improve their products. These assist in coming up with new products and uses thereby helping in expanding the market.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the 2-Ethylhexanoic Acid 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 2-Ethylhexanoic Acid 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
The expansion in emerging markets is expected to be the key market trends.
Based on end-use industry, the paints and coatings segment is expected to witness the fastest growth during the forecast period
Based on geography, Asia Pacific held the largest share of the 2-ethylhexanoic acid market due to its rapidly growing end-user industries and increasing research and development activities.
The strong growth of the automotive industry is driving the market growth.
BASF SE, Dow, Perstop Holding AB, Elekeiroz, The Eastman Chemical Company, OQ Chemicals Corporation, KH Neochem Co Ltd, Santa Cruz Biotechnology, Inc., Jiangxi JYT Chemical Co Ltd, and TCI Chemical India Pvt Ltd are the key players operating in the 2-ethylhexanoic acid market.
The 2-Ethylhexanoic Acid Market is estimated to witness a CAGR of 6% from 2023 to 2031
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.12-Ethylhexanoic Acid Market - By Application
1.3.22-Ethylhexanoic Acid Market - By End Use
1.3.32-Ethylhexanoic Acid Market - By Region
1.3.3.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.2-ETHYLHEXANOIC ACID 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
5.2-ETHYLHEXANOIC ACID 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
6.2-ETHYLHEXANOIC ACID MARKET - GLOBAL MARKET ANALYSIS
6.1.2-ETHYLHEXANOIC ACID - GLOBAL MARKET OVERVIEW
6.2.2-ETHYLHEXANOIC ACID - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.2-ETHYLHEXANOIC ACID MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
7.1.OVERVIEW
7.2.APPLICATION MARKET FORECASTS AND ANALYSIS
7.3.PLASTICIZERS
7.3.1.Overview
7.3.2.Plasticizers Market Forecast and Analysis
7.4.SYNTHETIC LUBRICANTS
7.4.1.Overview
7.4.2.Synthetic lubricants Market Forecast and Analysis
7.5.POLYVINYLCHLORIDE (PVC) STABILIZERS
7.5.1.Overview
7.5.2.Polyvinylchloride (PVC) stabilizers Market Forecast and Analysis
7.6.PAINT DRYERS
7.6.1.Overview
7.6.2.Paint dryers Market Forecast and Analysis
7.7.CORROSION INHIBITORS
7.7.1.Overview
7.7.2.Corrosion inhibitors Market Forecast and Analysis
7.8.OTHERS
7.8.1.Overview
7.8.2.Others Market Forecast and Analysis
8.2-ETHYLHEXANOIC ACID MARKET - REVENUE AND FORECASTS TO 2028 - END USE
8.1.OVERVIEW
8.2.END USE MARKET FORECASTS AND ANALYSIS
8.3.CHEMICALS
8.3.1.Overview
8.3.2.Chemicals Market Forecast and Analysis
8.4.PAINTS AND COATINGS
8.4.1.Overview
8.4.2.Paints and Coatings Market Forecast and Analysis
8.5.PERSONAL-CARE AND COSMETICS
8.5.1.Overview
8.5.2.Personal-care and Cosmetics Market Forecast and Analysis
8.6.PLASTICS
8.6.1.Overview
8.6.2.Plastics Market Forecast and Analysis
8.7.OTHERS
8.7.1.Overview
8.7.2.Others Market Forecast and Analysis
9.2-ETHYLHEXANOIC ACID MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1.NORTH AMERICA
9.1.1North America 2-Ethylhexanoic Acid Market Overview
9.1.2North America 2-Ethylhexanoic Acid Market Forecasts and Analysis
9.1.3North America 2-Ethylhexanoic Acid Market Forecasts and Analysis - By Application
9.1.4North America 2-Ethylhexanoic Acid Market Forecasts and Analysis - By End Use
9.1.5North America 2-Ethylhexanoic Acid Market Forecasts and Analysis - By Countries
9.1.5.1United States 2-Ethylhexanoic Acid Market
9.1.5.1.1United States 2-Ethylhexanoic Acid Market by Application
9.1.5.1.2United States 2-Ethylhexanoic Acid Market by End Use
9.1.5.2Canada 2-Ethylhexanoic Acid Market
9.1.5.2.1Canada 2-Ethylhexanoic Acid Market by Application
9.1.5.2.2Canada 2-Ethylhexanoic Acid Market by End Use
9.1.5.3Mexico 2-Ethylhexanoic Acid Market
9.1.5.3.1Mexico 2-Ethylhexanoic Acid Market by Application
9.1.5.3.2Mexico 2-Ethylhexanoic Acid Market by End Use
9.2.EUROPE
9.2.1Europe 2-Ethylhexanoic Acid Market Overview
9.2.2Europe 2-Ethylhexanoic Acid Market Forecasts and Analysis
9.2.3Europe 2-Ethylhexanoic Acid Market Forecasts and Analysis - By Application
9.2.4Europe 2-Ethylhexanoic Acid Market Forecasts and Analysis - By End Use
9.2.5Europe 2-Ethylhexanoic Acid Market Forecasts and Analysis - By Countries
9.2.5.1Germany 2-Ethylhexanoic Acid Market
9.2.5.1.1Germany 2-Ethylhexanoic Acid Market by Application
9.2.5.1.2Germany 2-Ethylhexanoic Acid Market by End Use
9.2.5.2France 2-Ethylhexanoic Acid Market
9.2.5.2.1France 2-Ethylhexanoic Acid Market by Application
9.2.5.2.2France 2-Ethylhexanoic Acid Market by End Use
9.2.5.3Italy 2-Ethylhexanoic Acid Market
9.2.5.3.1Italy 2-Ethylhexanoic Acid Market by Application
9.2.5.3.2Italy 2-Ethylhexanoic Acid Market by End Use
9.2.5.4United Kingdom 2-Ethylhexanoic Acid Market
9.2.5.4.1United Kingdom 2-Ethylhexanoic Acid Market by Application
9.2.5.4.2United Kingdom 2-Ethylhexanoic Acid Market by End Use
9.2.5.5Russia 2-Ethylhexanoic Acid Market
9.2.5.5.1Russia 2-Ethylhexanoic Acid Market by Application
9.2.5.5.2Russia 2-Ethylhexanoic Acid Market by End Use
9.2.5.6Rest of Europe 2-Ethylhexanoic Acid Market
9.2.5.6.1Rest of Europe 2-Ethylhexanoic Acid Market by Application
9.2.5.6.2Rest of Europe 2-Ethylhexanoic Acid Market by End Use
9.3.ASIA-PACIFIC
9.3.1Asia-Pacific 2-Ethylhexanoic Acid Market Overview
9.3.2Asia-Pacific 2-Ethylhexanoic Acid Market Forecasts and Analysis
9.3.3Asia-Pacific 2-Ethylhexanoic Acid Market Forecasts and Analysis - By Application
9.3.4Asia-Pacific 2-Ethylhexanoic Acid Market Forecasts and Analysis - By End Use
9.3.5Asia-Pacific 2-Ethylhexanoic Acid Market Forecasts and Analysis - By Countries
9.3.5.1Australia 2-Ethylhexanoic Acid Market
9.3.5.1.1Australia 2-Ethylhexanoic Acid Market by Application
9.3.5.1.2Australia 2-Ethylhexanoic Acid Market by End Use
9.3.5.2China 2-Ethylhexanoic Acid Market
9.3.5.2.1China 2-Ethylhexanoic Acid Market by Application
9.3.5.2.2China 2-Ethylhexanoic Acid Market by End Use
9.3.5.3India 2-Ethylhexanoic Acid Market
9.3.5.3.1India 2-Ethylhexanoic Acid Market by Application
9.3.5.3.2India 2-Ethylhexanoic Acid Market by End Use
9.3.5.4Japan 2-Ethylhexanoic Acid Market
9.3.5.4.1Japan 2-Ethylhexanoic Acid Market by Application
9.3.5.4.2Japan 2-Ethylhexanoic Acid Market by End Use
9.3.5.5South Korea 2-Ethylhexanoic Acid Market
9.3.5.5.1South Korea 2-Ethylhexanoic Acid Market by Application
9.3.5.5.2South Korea 2-Ethylhexanoic Acid Market by End Use
9.3.5.6Rest of Asia-Pacific 2-Ethylhexanoic Acid Market
9.3.5.6.1Rest of Asia-Pacific 2-Ethylhexanoic Acid Market by Application
9.3.5.6.2Rest of Asia-Pacific 2-Ethylhexanoic Acid Market by End Use
9.4.MIDDLE EAST AND AFRICA
9.4.1Middle East and Africa 2-Ethylhexanoic Acid Market Overview
9.4.2Middle East and Africa 2-Ethylhexanoic Acid Market Forecasts and Analysis
9.4.3Middle East and Africa 2-Ethylhexanoic Acid Market Forecasts and Analysis - By Application
9.4.4Middle East and Africa 2-Ethylhexanoic Acid Market Forecasts and Analysis - By End Use
9.4.5Middle East and Africa 2-Ethylhexanoic Acid Market Forecasts and Analysis - By Countries
9.4.5.1South Africa 2-Ethylhexanoic Acid Market
9.4.5.1.1South Africa 2-Ethylhexanoic Acid Market by Application
9.4.5.1.2South Africa 2-Ethylhexanoic Acid Market by End Use
9.4.5.2Saudi Arabia 2-Ethylhexanoic Acid Market
9.4.5.2.1Saudi Arabia 2-Ethylhexanoic Acid Market by Application
9.4.5.2.2Saudi Arabia 2-Ethylhexanoic Acid Market by End Use
9.4.5.3U.A.E 2-Ethylhexanoic Acid Market
9.4.5.3.1U.A.E 2-Ethylhexanoic Acid Market by Application
9.4.5.3.2U.A.E 2-Ethylhexanoic Acid Market by End Use
9.4.5.4Rest of Middle East and Africa 2-Ethylhexanoic Acid Market
9.4.5.4.1Rest of Middle East and Africa 2-Ethylhexanoic Acid Market by Application
9.4.5.4.2Rest of Middle East and Africa 2-Ethylhexanoic Acid Market by End Use
9.5.SOUTH AND CENTRAL AMERICA
9.5.1South and Central America 2-Ethylhexanoic Acid Market Overview
9.5.2South and Central America 2-Ethylhexanoic Acid Market Forecasts and Analysis
9.5.3South and Central America 2-Ethylhexanoic Acid Market Forecasts and Analysis - By Application
9.5.4South and Central America 2-Ethylhexanoic Acid Market Forecasts and Analysis - By End Use
9.5.5South and Central America 2-Ethylhexanoic Acid Market Forecasts and Analysis - By Countries
9.5.5.1Brazil 2-Ethylhexanoic Acid Market
9.5.5.1.1Brazil 2-Ethylhexanoic Acid Market by Application
9.5.5.1.2Brazil 2-Ethylhexanoic Acid Market by End Use
9.5.5.2Argentina 2-Ethylhexanoic Acid Market
9.5.5.2.1Argentina 2-Ethylhexanoic Acid Market by Application
9.5.5.2.2Argentina 2-Ethylhexanoic Acid Market by End Use
9.5.5.3Rest of South and Central America 2-Ethylhexanoic Acid Market
9.5.5.3.1Rest of South and Central America 2-Ethylhexanoic Acid Market by Application
9.5.5.3.2Rest of South and Central America 2-Ethylhexanoic Acid Market by End Use
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
11.2-ETHYLHEXANOIC ACID MARKET, KEY COMPANY PROFILES
11.1.BASF SE
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.EASTMAN CHEMICAL COMPANY
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.ELEKEIROZ S.A.
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.JXDC CHEMICAL CO., LTD.
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.KH NEOCHEM AMERICAS, INC.
11.5.1.Key Facts
11.5.2.Business Description
11.5.3.Products and Services
11.5.4.Financial Overview
11.5.5.SWOT Analysis
11.5.6.Key Developments
11.6.OXEA CORPORATION
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.PERSTORP HOLDING AB
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.QINGAN
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.SHENYANG ZHANGMING CHEMICAL CO. LTD.
11.9.1.Key Facts
11.9.2.Business Description
11.9.3.Products and Services
11.9.4.Financial Overview
11.9.5.SWOT Analysis
11.9.6.Key Developments
11.10.THE DOW CHEMICAL COMPANY
11.10.1.Key Facts
11.10.2.Business Description
11.10.3.Products and Services
11.10.4.Financial Overview
11.10.5.SWOT Analysis
11.10.6.Key Developments
12.APPENDIX
12.1.ABOUT THE INSIGHT PARTNERS
12.2.GLOSSARY OF TERMS
1. BASF SE
2. Eastman Chemical Company
3. Elekeiroz S.A.
4. JXDC Chemical Co., Ltd.
5. KH Neochem Americas, Inc.
6. Oxea Corporation
7. Perstorp Holding AB
8. Qingan
9. Shenyang Zhangming Chemical Co. Ltd.
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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