The Drag Reducing Agents Market is expected to register a CAGR of 5.7% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by type (polymers, suspensions, biological additives, and surfactants). The report is segmented by form (liquid and powder). The report further presents an analysis based on the end use (oil and gas, civil work, fire fighting, marine, irrigation, biomedical, chemical, and others). The report scope covers five regions: North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America and key countries under each region. The global analysis is further broken down at the regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Drag Reducing Agents 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.
Drag Reducing Agents Market Segmentation
Type- Polymers
- Suspensions
- Biological Additives
- Surfactants
- Liquid and Powder
Strategic Insights
Drag Reducing Agents Market Growth Drivers- Global Energy Consumption Drives DRA Demand: The increasing rate of energy consumption globally, mainly brought about by industrial growth and an increase in population, has significantly raised the demand for effective transportation of crude oil and natural gas. Drag Reducing Agents (DRAs) tend to increase the flowability of hydrocarbons within the pipelines by reducing friction; it allows more volume movement with less energy. The negative environmental effects are eventually decreased at this point, which is why DRAs have become more important within the energy sector.
- Environmental Regulations Fuel DRA Adoption: More stringent environmental legislation forces companies to adapt to better technology, which, in this case, reduces the production of greenhouse gases, therefore contributing to drag-reduction agents to minimize energy consumed by moving fluids to comply with regulations. Regulatory compliance helps increase the environmental sustainability aspect of the operations.
- Innovation Enhances DRA Performance and Efficiency: DRAs' better performance and greater ease of use are attributed to innovations in their chemical formulation and application technology. Improvements in polymer chemistry bring forth new DRA products that work better in several conditions. This advancement facilitates companies' optimization of their logistic and operational processes and leads to demand in the market.
- Rise of Bio-Based Drag Reducing Agents: An emerging trend in developing and applying bio-based Drag Reducing Agents (DRAs) produced from renewable resources. Because various companies have to explore an increasing necessity to take environmentally sustainable measures, the future usage of even more bio-based alternatives than traditional oil-based products is emerging further and further. Such a shift answers the demand of such customer groups searching for greenery but, at the same time, enables the companies to increase the levels of CSR.
- Expanding DRA Applications in New Industries: Although DRAs have been widely applied in crude oil and natural gas pipeline transport, the latest trend has been to expand their usage in non-traditional applications, including wastewater management, mining operations, and agricultural environments. These diversifications create new markets and growth opportunities.
- Growing Demand for DRA in Infrastructure Projects: Increased demands for pipeline network and transport infrastructure expansions have been registered, particularly within emerging markets, on DRAs. These agents are considered pivotal in facilitating efficient fluid transportation solutions for these infrastructure projects, with the ultimate result being the best performance for pipelines as well as decreased costs.
- Growing Demand for DRAs in Emerging Markets: Countries in these areas—the Asia-Pacific, Africa, and Latin America regions—are rapidly growing industrial infrastructures. As this area is growing its market base in energy and manufacturing areas, it will strongly increase its demand for efficient pipelines through Drag-Reducing Agents (DRAs) at the appropriate times. Any enterprise strategically focusing on them has potential access to many customer markets and long-time ties with those customers.
- Investment in Advanced DRAs for Enhanced Performance: Companies have a significant investment opportunity in the development of advanced DRAs with improved performance characteristics such as temperature stability, long life, and fluid compatibility. Tailoring solutions to specific industry needs will help companies differentiate themselves in this competitive market.
- Opportunities for DRAs in Water Management: As awareness of water resource scarcity and pollution grows, there is now an opportunity to develop DRAs (Dynamic Resource Allocators) that improve water management systems. Some applications for these technologies include wastewater treatment and the transportation of industrial fluids. By addressing both economic and environmental challenges, companies can enhance their market presence while promoting sustainability.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Drag Reducing Agents 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 Drag Reducing Agents 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
Increased adoption in non-traditional applications is expected to be the key market trend.
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
On the basis of geography, the drag reducing agents market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America
The major factors driving the drag reducing agents market are:
1. Increasing Energy Demand.
2. Regulatory Pressure for Emission Reductions.
Baker Hughes Co, Dorf Ketal Chemicals India Pvt Ltd, Indian Oil Corp Ltd, Innospec Inc, Jiangyin Huaheng Auxiliary Co Ltd, Flowchem Pharma Pvt Ltd, LiquidPower Specialty Products Inc, Oil Flux Americas LLC, Qingdao Zoranoc Oilfield Chemical Co Ltd, and NuGenTec LLC
The Drag Reducing Agents Market is estimated to witness a CAGR of 5.7% 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 Drag Reducing Agents Market - By Type
1.3.2 Drag Reducing Agents Market - By Product Type
1.3.3 Drag Reducing Agents Market - By End-usr Industry
1.3.4 Drag Reducing Agents Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. DRAG REDUCING AGENTS 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. DRAG REDUCING AGENTS 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. DRAG REDUCING AGENTS MARKET - GLOBAL MARKET ANALYSIS
6.1. DRAG REDUCING AGENTS - GLOBAL MARKET OVERVIEW
6.2. DRAG REDUCING AGENTS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. DRAG REDUCING AGENTS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. POLYMERS
7.3.1. Overview
7.3.2. Polymers Market Forecast and Analysis
7.4. SUSPENSIONS
7.4.1. Overview
7.4.2. Suspensions Market Forecast and Analysis
7.5. SURFACTANTS
7.5.1. Overview
7.5.2. Surfactants Market Forecast and Analysis
7.6. BIOMATERIALS
7.6.1. Overview
7.6.2. Biomaterials Market Forecast and Analysis
8. DRAG REDUCING AGENTS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
8.1. OVERVIEW
8.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
8.3. VISCOSITY GLUE
8.3.1. Overview
8.3.2. Viscosity Glue Market Forecast and Analysis
8.4. LOW VISCOSITY GLUE
8.4.1. Overview
8.4.2. Low Viscosity Glue Market Forecast and Analysis
8.5. RUBBER LATEX
8.5.1. Overview
8.5.2. Rubber Latex Market Forecast and Analysis
9. DRAG REDUCING AGENTS MARKET - REVENUE AND FORECASTS TO 2028 - END-USR INDUSTRY
9.1. OVERVIEW
9.2. END-USR INDUSTRY MARKET FORECASTS AND ANALYSIS
9.3. OIL AND GAS
9.3.1. Overview
9.3.2. Oil and Gas Market Forecast and Analysis
9.4. CHEMICALS
9.4.1. Overview
9.4.2. Chemicals Market Forecast and Analysis
9.5. OTHERS
9.5.1. Overview
9.5.2. Others Market Forecast and Analysis
10. DRAG REDUCING AGENTS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Drag Reducing Agents Market Overview
10.1.2 North America Drag Reducing Agents Market Forecasts and Analysis
10.1.3 North America Drag Reducing Agents Market Forecasts and Analysis - By Type
10.1.4 North America Drag Reducing Agents Market Forecasts and Analysis - By Product Type
10.1.5 North America Drag Reducing Agents Market Forecasts and Analysis - By End-usr Industry
10.1.6 North America Drag Reducing Agents Market Forecasts and Analysis - By Countries
10.1.6.1 United States Drag Reducing Agents Market
10.1.6.1.1 United States Drag Reducing Agents Market by Type
10.1.6.1.2 United States Drag Reducing Agents Market by Product Type
10.1.6.1.3 United States Drag Reducing Agents Market by End-usr Industry
10.1.6.2 Canada Drag Reducing Agents Market
10.1.6.2.1 Canada Drag Reducing Agents Market by Type
10.1.6.2.2 Canada Drag Reducing Agents Market by Product Type
10.1.6.2.3 Canada Drag Reducing Agents Market by End-usr Industry
10.1.6.3 Mexico Drag Reducing Agents Market
10.1.6.3.1 Mexico Drag Reducing Agents Market by Type
10.1.6.3.2 Mexico Drag Reducing Agents Market by Product Type
10.1.6.3.3 Mexico Drag Reducing Agents Market by End-usr Industry
10.2. EUROPE
10.2.1 Europe Drag Reducing Agents Market Overview
10.2.2 Europe Drag Reducing Agents Market Forecasts and Analysis
10.2.3 Europe Drag Reducing Agents Market Forecasts and Analysis - By Type
10.2.4 Europe Drag Reducing Agents Market Forecasts and Analysis - By Product Type
10.2.5 Europe Drag Reducing Agents Market Forecasts and Analysis - By End-usr Industry
10.2.6 Europe Drag Reducing Agents Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Drag Reducing Agents Market
10.2.6.1.1 Germany Drag Reducing Agents Market by Type
10.2.6.1.2 Germany Drag Reducing Agents Market by Product Type
10.2.6.1.3 Germany Drag Reducing Agents Market by End-usr Industry
10.2.6.2 France Drag Reducing Agents Market
10.2.6.2.1 France Drag Reducing Agents Market by Type
10.2.6.2.2 France Drag Reducing Agents Market by Product Type
10.2.6.2.3 France Drag Reducing Agents Market by End-usr Industry
10.2.6.3 Italy Drag Reducing Agents Market
10.2.6.3.1 Italy Drag Reducing Agents Market by Type
10.2.6.3.2 Italy Drag Reducing Agents Market by Product Type
10.2.6.3.3 Italy Drag Reducing Agents Market by End-usr Industry
10.2.6.4 United Kingdom Drag Reducing Agents Market
10.2.6.4.1 United Kingdom Drag Reducing Agents Market by Type
10.2.6.4.2 United Kingdom Drag Reducing Agents Market by Product Type
10.2.6.4.3 United Kingdom Drag Reducing Agents Market by End-usr Industry
10.2.6.5 Russia Drag Reducing Agents Market
10.2.6.5.1 Russia Drag Reducing Agents Market by Type
10.2.6.5.2 Russia Drag Reducing Agents Market by Product Type
10.2.6.5.3 Russia Drag Reducing Agents Market by End-usr Industry
10.2.6.6 Rest of Europe Drag Reducing Agents Market
10.2.6.6.1 Rest of Europe Drag Reducing Agents Market by Type
10.2.6.6.2 Rest of Europe Drag Reducing Agents Market by Product Type
10.2.6.6.3 Rest of Europe Drag Reducing Agents Market by End-usr Industry
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Drag Reducing Agents Market Overview
10.3.2 Asia-Pacific Drag Reducing Agents Market Forecasts and Analysis
10.3.3 Asia-Pacific Drag Reducing Agents Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Drag Reducing Agents Market Forecasts and Analysis - By Product Type
10.3.5 Asia-Pacific Drag Reducing Agents Market Forecasts and Analysis - By End-usr Industry
10.3.6 Asia-Pacific Drag Reducing Agents Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Drag Reducing Agents Market
10.3.6.1.1 Australia Drag Reducing Agents Market by Type
10.3.6.1.2 Australia Drag Reducing Agents Market by Product Type
10.3.6.1.3 Australia Drag Reducing Agents Market by End-usr Industry
10.3.6.2 China Drag Reducing Agents Market
10.3.6.2.1 China Drag Reducing Agents Market by Type
10.3.6.2.2 China Drag Reducing Agents Market by Product Type
10.3.6.2.3 China Drag Reducing Agents Market by End-usr Industry
10.3.6.3 India Drag Reducing Agents Market
10.3.6.3.1 India Drag Reducing Agents Market by Type
10.3.6.3.2 India Drag Reducing Agents Market by Product Type
10.3.6.3.3 India Drag Reducing Agents Market by End-usr Industry
10.3.6.4 Japan Drag Reducing Agents Market
10.3.6.4.1 Japan Drag Reducing Agents Market by Type
10.3.6.4.2 Japan Drag Reducing Agents Market by Product Type
10.3.6.4.3 Japan Drag Reducing Agents Market by End-usr Industry
10.3.6.5 South Korea Drag Reducing Agents Market
10.3.6.5.1 South Korea Drag Reducing Agents Market by Type
10.3.6.5.2 South Korea Drag Reducing Agents Market by Product Type
10.3.6.5.3 South Korea Drag Reducing Agents Market by End-usr Industry
10.3.6.6 Rest of Asia-Pacific Drag Reducing Agents Market
10.3.6.6.1 Rest of Asia-Pacific Drag Reducing Agents Market by Type
10.3.6.6.2 Rest of Asia-Pacific Drag Reducing Agents Market by Product Type
10.3.6.6.3 Rest of Asia-Pacific Drag Reducing Agents Market by End-usr Industry
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Drag Reducing Agents Market Overview
10.4.2 Middle East and Africa Drag Reducing Agents Market Forecasts and Analysis
10.4.3 Middle East and Africa Drag Reducing Agents Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Drag Reducing Agents Market Forecasts and Analysis - By Product Type
10.4.5 Middle East and Africa Drag Reducing Agents Market Forecasts and Analysis - By End-usr Industry
10.4.6 Middle East and Africa Drag Reducing Agents Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Drag Reducing Agents Market
10.4.6.1.1 South Africa Drag Reducing Agents Market by Type
10.4.6.1.2 South Africa Drag Reducing Agents Market by Product Type
10.4.6.1.3 South Africa Drag Reducing Agents Market by End-usr Industry
10.4.6.2 Saudi Arabia Drag Reducing Agents Market
10.4.6.2.1 Saudi Arabia Drag Reducing Agents Market by Type
10.4.6.2.2 Saudi Arabia Drag Reducing Agents Market by Product Type
10.4.6.2.3 Saudi Arabia Drag Reducing Agents Market by End-usr Industry
10.4.6.3 U.A.E Drag Reducing Agents Market
10.4.6.3.1 U.A.E Drag Reducing Agents Market by Type
10.4.6.3.2 U.A.E Drag Reducing Agents Market by Product Type
10.4.6.3.3 U.A.E Drag Reducing Agents Market by End-usr Industry
10.4.6.4 Rest of Middle East and Africa Drag Reducing Agents Market
10.4.6.4.1 Rest of Middle East and Africa Drag Reducing Agents Market by Type
10.4.6.4.2 Rest of Middle East and Africa Drag Reducing Agents Market by Product Type
10.4.6.4.3 Rest of Middle East and Africa Drag Reducing Agents Market by End-usr Industry
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Drag Reducing Agents Market Overview
10.5.2 South and Central America Drag Reducing Agents Market Forecasts and Analysis
10.5.3 South and Central America Drag Reducing Agents Market Forecasts and Analysis - By Type
10.5.4 South and Central America Drag Reducing Agents Market Forecasts and Analysis - By Product Type
10.5.5 South and Central America Drag Reducing Agents Market Forecasts and Analysis - By End-usr Industry
10.5.6 South and Central America Drag Reducing Agents Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Drag Reducing Agents Market
10.5.6.1.1 Brazil Drag Reducing Agents Market by Type
10.5.6.1.2 Brazil Drag Reducing Agents Market by Product Type
10.5.6.1.3 Brazil Drag Reducing Agents Market by End-usr Industry
10.5.6.2 Argentina Drag Reducing Agents Market
10.5.6.2.1 Argentina Drag Reducing Agents Market by Type
10.5.6.2.2 Argentina Drag Reducing Agents Market by Product Type
10.5.6.2.3 Argentina Drag Reducing Agents Market by End-usr Industry
10.5.6.3 Rest of South and Central America Drag Reducing Agents Market
10.5.6.3.1 Rest of South and Central America Drag Reducing Agents Market by Type
10.5.6.3.2 Rest of South and Central America Drag Reducing Agents Market by Product Type
10.5.6.3.3 Rest of South and Central America Drag Reducing Agents Market by End-usr Industry
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. DRAG REDUCING AGENTS MARKET, KEY COMPANY PROFILES
12.1. BAKER HUGHES
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. CHINA NATIONAL PETROLEUM CORPORATION
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. COLONIAL PIPELINE COMPANY
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. FLOWCHEM
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. INNOSPEC
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. LUBRIZOL SPECIALTY PRODUCTS INC.
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. NUGENTEC
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. OIL FLUX AMERICAS
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. SINO OIL KING SHINE CHEMICAL
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 ZORANOC OILFIELD CHEMICAL
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. Baker Hughes
2. China National Petroleum Corporation
3. Colonial Pipeline Company
4. Flowchem
5. Innospec
6. Lubrizol Specialty Products Inc.
7. NuGenTec
8. Oil Flux Americas
9. Sino Oil King Shine Chemical
10. The Zoranoc Oilfield Chemical
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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