The Adiponitrile Market is expected to register a CAGR of 5% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The adiponitrile market report is segmented by application (nylon synthesis, HDI, electrolyte solution, and others). The market is segmented based on the end-use industry (chemicals, automotive, electrical and electronics, textile, 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 Adiponitrile 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.
Adiponitrile Market Segmentation
Application- Nylon Synthesis
- HDI
- Electrolyte Solution
- Chemicals
- Automotive
- Electrical and Electronics
- Textile
Strategic Insights
Adiponitrile Market Growth Drivers- Rising Demand from Various Industries: Adiponitrile is a key intermediate in the manufacture of nylon-66, which is largely utilized in the textile, automotive, and consumer products industries. These growth rates can be attributed to the rising need for lightweight yet strong materials in different sectors, more so in the automotive and aerospace sectors, which propels the adiponitrile market growth.
- Rising Demand for Adiponitrile: With the automotive industry leaning towards lightweight elements in a bid to increase fuel efficiency and reduce emissions, adiponitrile trends upward in terms of demand. This is fuelled by the substitution effect, where traditional materials are being replaced or augmented by advanced polymers, which increases the demand for nylon-66 and its associated precursors, especially adiponitrile.
- Expanding Applications of Adiponitrile: Aside from nylon, adiponitrile is also used to produce plasticizers, adhesives, and other coatings. This is due to the broadening scope of industrial applications and in quest for novel materials in construction and manufacturing activities to enhance the growth of the adiponitrile market.
- Green Chemistry Drives Adiponitrile Innovation: Sustainability and green chemistry have been gaining attention. In the chemical industry, there is a growing need to consider environmental issues in designing production processes. Moreover, some innovations in green chemistry are expected in the future for the market of adiponitrile, among them being bio-based production methods. More and more, all companies are seeking to look for renewable resources and processes.
- Improved Methods for Adiponitrile Production: The catalytic processes and chemical engineering are aimed at increasing efficiency and lowering the costs of adiponitrile production. New production methods, such as direct conversion of renewable resources, for example, may well improve the current production process, thus bringing down the costs and emissions to a great extent.
- Adiponitrile Market Impacted by Regulations: Due to the constantly changing situations regarding the environmental policies in various countries, in a certain period of time, the companies producing adiponitrile will face more strict requirements. Due to these changes, there will be a change in the adoption of clean processes and technologies, which will, in turn, result in a change in the market that will seek to trigger creativity.
- Growth in Emerging Markets: The regions of Asia-Pacific and Latin America, which are experiencing very rapid industrialization and urbanization, offer attractive opportunities for the growth of the adiponitrile market. With the growth in these regions of their manufacturing capabilities and automotive industries, the need for nylon along with other uses of adiponitrile, is expected to increase. With this growth, companies can set up local manufacturing facilities or invest in partnerships.
- Bio-Based Chemicals Driving Adiponitrile Growth: The trend of bio-based chemicals provides opportunities for improvement in the production of adiponitrile. The introduction of bio-derived adiponitrile will meet the consumers’ increasing preference for environmentally friendly products, allowing businesses to compete effectively. The focus of investments in bio-processes on the target applications will bring about interesting new technologies and fuel market growth.
- Strategic Partnerships Fueling Adiponitrile Growth: The adiponitrile market may benefit from strategic alliances across suppliers, research organizations and firms owning appropriate technology. Such cooperation may result in innovations in processes of manufacturing, deeper penetration of markets served and bundling of enhanced offerings. Strategic joint ventures on R&D and sustainability will also seek to create a competitive edge as well as foster growth in the long run.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Adiponitrile 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 Adiponitrile 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
Sustainability and green chemistry initiatives are expected to be the key market trends.
Based on geography, Asia Pacific held the largest share of the adiponitrile market due to its rapidly growing automotive, electronics, and chemicals industry.
Based on application, the electrolyte solution segment is expected to witness the fastest growth during the forecast period.
Asahi Kasei Corp, Ascend Performance Materials, Butachimie, BASF SE, Invista, Spectrum Chemical, Kishida Chemical Co Ltd, Vizag Chemical, Tokyo Chemical Industry, and Merck KgaA are the key players operating in the adiponitrile market.
The strong growth of the automotive sector is driving the market growth.
The Adiponitrile Market is estimated to witness a CAGR of 5% 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 Adiponitrile Market - By Application
1.3.2 Adiponitrile Market - By End-Use Industry
1.3.3 Adiponitrile Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ADIPONITRILE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. ADIPONITRILE 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. ADIPONITRILE MARKET - GLOBAL MARKET ANALYSIS
6.1. ADIPONITRILE - GLOBAL MARKET OVERVIEW
6.2. ADIPONITRILE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. ADIPONITRILE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
7.1. OVERVIEW
7.2. APPLICATION MARKET FORECASTS AND ANALYSIS
7.3. NYLON SYNTHESIS
7.3.1. Overview
7.3.2. Nylon Synthesis Market Forecast and Analysis
7.4. ELECTROLYTE SOLUTIONS
7.4.1. Overview
7.4.2. Electrolyte Solutions Market Forecast and Analysis
7.5. OTHERS
7.5.1. Overview
7.5.2. Others Market Forecast and Analysis
8. ADIPONITRILE MARKET - REVENUE AND FORECASTS TO 2028 - END-USE INDUSTRY
8.1. OVERVIEW
8.2. END-USE INDUSTRY MARKET FORECASTS AND ANALYSIS
8.3. CHEMICALS
8.3.1. Overview
8.3.2. Chemicals Market Forecast and Analysis
8.4. TEXTILES
8.4.1. Overview
8.4.2. Textiles Market Forecast and Analysis
8.5. ELECTRICAL AND ELECTRONICS
8.5.1. Overview
8.5.2. Electrical and Electronics Market Forecast and Analysis
8.6. OTHERS.
8.6.1. Overview
8.6.2. Others. Market Forecast and Analysis
9. ADIPONITRILE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Adiponitrile Market Overview
9.1.2 North America Adiponitrile Market Forecasts and Analysis
9.1.3 North America Adiponitrile Market Forecasts and Analysis - By Application
9.1.4 North America Adiponitrile Market Forecasts and Analysis - By End-Use Industry
9.1.5 North America Adiponitrile Market Forecasts and Analysis - By Countries
9.1.5.1 United States Adiponitrile Market
9.1.5.1.1 United States Adiponitrile Market by Application
9.1.5.1.2 United States Adiponitrile Market by End-Use Industry
9.1.5.2 Canada Adiponitrile Market
9.1.5.2.1 Canada Adiponitrile Market by Application
9.1.5.2.2 Canada Adiponitrile Market by End-Use Industry
9.1.5.3 Mexico Adiponitrile Market
9.1.5.3.1 Mexico Adiponitrile Market by Application
9.1.5.3.2 Mexico Adiponitrile Market by End-Use Industry
9.2. EUROPE
9.2.1 Europe Adiponitrile Market Overview
9.2.2 Europe Adiponitrile Market Forecasts and Analysis
9.2.3 Europe Adiponitrile Market Forecasts and Analysis - By Application
9.2.4 Europe Adiponitrile Market Forecasts and Analysis - By End-Use Industry
9.2.5 Europe Adiponitrile Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Adiponitrile Market
9.2.5.1.1 Germany Adiponitrile Market by Application
9.2.5.1.2 Germany Adiponitrile Market by End-Use Industry
9.2.5.2 France Adiponitrile Market
9.2.5.2.1 France Adiponitrile Market by Application
9.2.5.2.2 France Adiponitrile Market by End-Use Industry
9.2.5.3 Italy Adiponitrile Market
9.2.5.3.1 Italy Adiponitrile Market by Application
9.2.5.3.2 Italy Adiponitrile Market by End-Use Industry
9.2.5.4 United Kingdom Adiponitrile Market
9.2.5.4.1 United Kingdom Adiponitrile Market by Application
9.2.5.4.2 United Kingdom Adiponitrile Market by End-Use Industry
9.2.5.5 Russia Adiponitrile Market
9.2.5.5.1 Russia Adiponitrile Market by Application
9.2.5.5.2 Russia Adiponitrile Market by End-Use Industry
9.2.5.6 Rest of Europe Adiponitrile Market
9.2.5.6.1 Rest of Europe Adiponitrile Market by Application
9.2.5.6.2 Rest of Europe Adiponitrile Market by End-Use Industry
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Adiponitrile Market Overview
9.3.2 Asia-Pacific Adiponitrile Market Forecasts and Analysis
9.3.3 Asia-Pacific Adiponitrile Market Forecasts and Analysis - By Application
9.3.4 Asia-Pacific Adiponitrile Market Forecasts and Analysis - By End-Use Industry
9.3.5 Asia-Pacific Adiponitrile Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Adiponitrile Market
9.3.5.1.1 Australia Adiponitrile Market by Application
9.3.5.1.2 Australia Adiponitrile Market by End-Use Industry
9.3.5.2 China Adiponitrile Market
9.3.5.2.1 China Adiponitrile Market by Application
9.3.5.2.2 China Adiponitrile Market by End-Use Industry
9.3.5.3 India Adiponitrile Market
9.3.5.3.1 India Adiponitrile Market by Application
9.3.5.3.2 India Adiponitrile Market by End-Use Industry
9.3.5.4 Japan Adiponitrile Market
9.3.5.4.1 Japan Adiponitrile Market by Application
9.3.5.4.2 Japan Adiponitrile Market by End-Use Industry
9.3.5.5 South Korea Adiponitrile Market
9.3.5.5.1 South Korea Adiponitrile Market by Application
9.3.5.5.2 South Korea Adiponitrile Market by End-Use Industry
9.3.5.6 Rest of Asia-Pacific Adiponitrile Market
9.3.5.6.1 Rest of Asia-Pacific Adiponitrile Market by Application
9.3.5.6.2 Rest of Asia-Pacific Adiponitrile Market by End-Use Industry
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Adiponitrile Market Overview
9.4.2 Middle East and Africa Adiponitrile Market Forecasts and Analysis
9.4.3 Middle East and Africa Adiponitrile Market Forecasts and Analysis - By Application
9.4.4 Middle East and Africa Adiponitrile Market Forecasts and Analysis - By End-Use Industry
9.4.5 Middle East and Africa Adiponitrile Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Adiponitrile Market
9.4.5.1.1 South Africa Adiponitrile Market by Application
9.4.5.1.2 South Africa Adiponitrile Market by End-Use Industry
9.4.5.2 Saudi Arabia Adiponitrile Market
9.4.5.2.1 Saudi Arabia Adiponitrile Market by Application
9.4.5.2.2 Saudi Arabia Adiponitrile Market by End-Use Industry
9.4.5.3 U.A.E Adiponitrile Market
9.4.5.3.1 U.A.E Adiponitrile Market by Application
9.4.5.3.2 U.A.E Adiponitrile Market by End-Use Industry
9.4.5.4 Rest of Middle East and Africa Adiponitrile Market
9.4.5.4.1 Rest of Middle East and Africa Adiponitrile Market by Application
9.4.5.4.2 Rest of Middle East and Africa Adiponitrile Market by End-Use Industry
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Adiponitrile Market Overview
9.5.2 South and Central America Adiponitrile Market Forecasts and Analysis
9.5.3 South and Central America Adiponitrile Market Forecasts and Analysis - By Application
9.5.4 South and Central America Adiponitrile Market Forecasts and Analysis - By End-Use Industry
9.5.5 South and Central America Adiponitrile Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Adiponitrile Market
9.5.5.1.1 Brazil Adiponitrile Market by Application
9.5.5.1.2 Brazil Adiponitrile Market by End-Use Industry
9.5.5.2 Argentina Adiponitrile Market
9.5.5.2.1 Argentina Adiponitrile Market by Application
9.5.5.2.2 Argentina Adiponitrile Market by End-Use Industry
9.5.5.3 Rest of South and Central America Adiponitrile Market
9.5.5.3.1 Rest of South and Central America Adiponitrile Market by Application
9.5.5.3.2 Rest of South and Central America Adiponitrile Market by End-Use Industry
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. ADIPONITRILE 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. BRASKEM
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. CHINA PETROLEUM AND CHEMICAL CORPORATION
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. DUPONT
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. EVONIK INDUSTRIES AG
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. LG CHEM
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. LYONDELLBASELL INDUSTRIES
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. RHODIA GROUP
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. SOLVAY S.A.
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. DOW
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
11.11. JSR CORPORATION
11.11.1. Key Facts
11.11.2. Business Description
11.11.3. Products and Services
11.11.4. Financial Overview
11.11.5. SWOT Analysis
11.11.6. Key Developments
11.12. ROYAL DUTCH SHELL
11.12.1. Key Facts
11.12.2. Business Description
11.12.3. Products and Services
11.12.4. Financial Overview
11.12.5. SWOT Analysis
11.12.6. Key Developments
11.13. SAUDI BASIC INDUSTRIES CORPORATION
11.13.1. Key Facts
11.13.2. Business Description
11.13.3. Products and Services
11.13.4. Financial Overview
11.13.5. SWOT Analysis
11.13.6. Key Developments
11.14. INEOS
11.14.1. Key Facts
11.14.2. Business Description
11.14.3. Products and Services
11.14.4. Financial Overview
11.14.5. SWOT Analysis
11.14.6. Key Developments
11.15. KISHIDA CHEMICAL CO
11.15.1. Key Facts
11.15.2. Business Description
11.15.3. Products and Services
11.15.4. Financial Overview
11.15.5. SWOT Analysis
11.15.6. Key Developments
11.16. ASCEND PERFORMANCE MATERIALS
11.16.1. Key Facts
11.16.2. Business Description
11.16.3. Products and Services
11.16.4. Financial Overview
11.16.5. SWOT Analysis
11.16.6. Key Developments
11.17. BUTACHIMIE
11.17.1. Key Facts
11.17.2. Business Description
11.17.3. Products and Services
11.17.4. Financial Overview
11.17.5. SWOT Analysis
11.17.6. Key Developments
11.18. ALFA AESAR
11.18.1. Key Facts
11.18.2. Business Description
11.18.3. Products and Services
11.18.4. Financial Overview
11.18.5. SWOT Analysis
11.18.6. Key Developments
11.19. SPECTRUM CHEMICAL MFG. CORP.
11.19.1. Key Facts
11.19.2. Business Description
11.19.3. Products and Services
11.19.4. Financial Overview
11.19.5. SWOT Analysis
11.19.6. Key Developments
11.20. ACROS ORHANIXS BVBA
11.20.1. Key Facts
11.20.2. Business Description
11.20.3. Products and Services
11.20.4. Financial Overview
11.20.5. SWOT Analysis
11.20.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. BASF SE
2. Braskem
3. China Petroleum and Chemical Corporation
4. Dupont
5. Evonik Industries AG
6. LG Chem
7. Lyondellbasell Industries
8. Rhodia Group
9. Solvay S.A.
10. Dow
11. JSR Corporation
12. Royal Dutch Shell
13. Saudi Basic Industries Corporation
14. Ineos
15. Kishida Chemical Co
16. Ascend Performance Materials
17. Butachimie
18. Alfa Aesar
19. Spectrum Chemical Mfg. Corp.
20.Acros Orhanixs BVBA
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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