The Fiber Reinforced Polymer (FRP) Panels and Sheets Market is expected to register a CAGR of 7% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
Fiber Reinforced Polymer (FRP) Panels and Sheets Market covers analysis By Type (Glass Fibre Reinforced Polymer, Carbon Fibre Reinforced Polymer); End-use Industry (Building and construction, Automotive and Aerospace, Transportation, Electronics and Electrical, Others), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). Fibre reinforced plastic is basically a composite material that is made up of polymer matrix which is then reinforced by fibres. The fibres are mostly of glass, basalt, aramid or carbon. The polymer is usually an epoxy, vinyl ester, or polyester thermosetting plastic, though phenol.
Purpose of the ReportThe report Fiber Reinforced Polymer (FRP) Panels and Sheets 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.
Fiber Reinforced Polymer (FRP) Panels and Sheets Market Segmentation
Type- Glass Fibre Reinforced Polymer
- Carbon Fibre Reinforced Polymer
- Building and construction
- Automotive and Aerospace
- Transportation
- Electronics and Electrical
Strategic Insights
Fiber Reinforced Polymer (FRP) Panels and Sheets Market Growth Drivers- Increased Demand for Lightweights and Strong Materials: From this lens, the demand for fiber-reinforced polymer (FRP) panels and sheets is increasingly on the rise as lightweight, strong, and durable materials are required in the construction, automotive, and aerospace industries. The distinctive advantage of FRP is that it provides a very high strength-to-weight ratio.
- Growth in Construction and Infrastructure Development: Global common growth in construction and infrastructure development remains the major driver for the FRP panels and sheets market, as these materials provide the best durability, corrosion resistance, and minimum maintenance, making them a great option for modern infrastructure, such as buildings, bridges, and other projects.
- Increased Diffusion in Green Building Practices: With the relative increase in the trend towards sustainable construction, the use of FRP plates and laminates gains into energy-saving processes and lesser environmental effects. These materials have been utilized in green building projects for decarbonization, insulation improvement, and durability for continued stimulus in the market.
- An Eco-Friendly and Sustainable Material Shift: The even growing promontory trend in fiber-reinforced polymer (FRP) panels and sheets is shifting toward more environment-friendly and recyclable material sources. Industries are highly intending to reduce impacts such as noises, air pollution, and the degradation of resources through the production of lower-carbon-emitting FRPs, thus giving a sassy market fit for environmentally conscious consumers and compliance with sustainability standards.
- Technological Advances in FRP Processing: New advances in manufacturing processes: resin systems, production automation, etc., have made possible the development of advanced FRP panels and sheets. These innovations are intended to produce lighter, stronger, and cheaper types of construction materials that are possible for applications in construction, automotive, and aerospace industries.
- The Increased Demand for Prefabricated Construction Materials: The increased demand for FRP panels and sheets is attributed to the increasing rate of prefabricated and modular construction. Prefabricated products are efficient in terms of fast installation, easy transportation, strength, and so much more; this has made them so much more applicable in the applications of pre-built structures and systems, primarily in commercial and residential buildings.
- Burgeoning Green Building Industry: As growing trends of construction operate towards the eco-friendly sector, the requirement for sustainable building products increases. Fiber Reinforced Polymer (FRP) panels and sheets serve the purpose of thermal insulation as well as durability and open the possibility of addressing the green building market, keeping in mind the standards set for sustainability.
- Increase in Automotive and Aerospace Industries: Today, the automobile and aerospace industries are using much lightweight and, more significantly strong materials to develop better performance with fuel-efficient usage. The use of FRP panels and sheets shows positive growth with the increasing focus of these companies on the reduced weight structure, as they provide high strength-to-weight ratios.
- Increasing Infrastructure Renovation Projects: Old and aging infrastructures require renovation and maintenance. Such new features develop a market opportunity for FRP panels and sheets in such renovation projects as bridges, tunnels, and coastal structures since they stand high on the durability and performance of surfaces.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Fiber Reinforced Polymer (FRP) Panels and Sheets 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 Fiber Reinforced Polymer (FRP) Panels and Sheets 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
The Asia Pacific market is expected to account for the highest CAGR during the forecast period owing to the growing construction projects in the region.
The glass fiber type segment accounted for the largest market share in 2023.
Brianza Plastica S.p.A., Crane Composites Inc., C-Sco Sandwich Panel and Shelters Industry Co. Ltd., Glasteel, Inc., LAMILUX Heinrich Strunz Group, Optiplan Gmbh, Panolam Industries International Inc., Polser Fiberglass Reinforced Plastics Inc., U.S. Liner Company, and Vetroresina SPA are some of the key players in the market.
Increasing demand for lightweight polymers is a key driver in the market.
The Fiber Reinforced Polymer (FRP) Panels and Sheets Market is estimated to witness a CAGR of 7% from 2023 to 2031
Growing customizable applications is an emerging trend in the market.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Fiber Reinforced Polymer (FRP) Panels And Sheets Market - By Type
1.3.2 Fiber Reinforced Polymer (FRP) Panels And Sheets Market - By End-use Industry
1.3.3 Fiber Reinforced Polymer (FRP) Panels And Sheets Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. FIBER REINFORCED POLYMER (FRP) PANELS AND SHEETS 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. FIBER REINFORCED POLYMER (FRP) PANELS AND SHEETS 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. FIBER REINFORCED POLYMER (FRP) PANELS AND SHEETS MARKET - GLOBAL MARKET ANALYSIS
6.1. FIBER REINFORCED POLYMER (FRP) PANELS AND SHEETS - GLOBAL MARKET OVERVIEW
6.2. FIBER REINFORCED POLYMER (FRP) PANELS AND SHEETS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. FIBER REINFORCED POLYMER (FRP) PANELS AND SHEETS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. GLASS FIBRE REINFORCED POLYMER
7.3.1. Overview
7.3.2. Glass Fibre Reinforced Polymer Market Forecast and Analysis
7.4. CARBON FIBRE REINFORCED POLYMER
7.4.1. Overview
7.4.2. Carbon Fibre Reinforced Polymer Market Forecast and Analysis
8. FIBER REINFORCED POLYMER (FRP) PANELS AND SHEETS MARKET - REVENUE AND FORECASTS TO 2028 - END-USE INDUSTRY
8.1. OVERVIEW
8.2. END-USE INDUSTRY MARKET FORECASTS AND ANALYSIS
8.3. BUILDING AND CONSTRUCTION
8.3.1. Overview
8.3.2. Building and construction Market Forecast and Analysis
8.4. AUTOMOTIVE AND AEROSPACE
8.4.1. Overview
8.4.2. Automotive and Aerospace Market Forecast and Analysis
8.5. TRANSPORTATION
8.5.1. Overview
8.5.2. Transportation Market Forecast and Analysis
8.6. ELECTRONICS AND ELECTRICAL
8.6.1. Overview
8.6.2. Electronics and Electrical Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. FIBER REINFORCED POLYMER (FRP) PANELS AND SHEETS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Fiber Reinforced Polymer (FRP) Panels And Sheets Market Overview
9.1.2 North America Fiber Reinforced Polymer (FRP) Panels And Sheets Market Forecasts and Analysis
9.1.3 North America Fiber Reinforced Polymer (FRP) Panels And Sheets Market Forecasts and Analysis - By Type
9.1.4 North America Fiber Reinforced Polymer (FRP) Panels And Sheets Market Forecasts and Analysis - By End-use Industry
9.1.5 North America Fiber Reinforced Polymer (FRP) Panels And Sheets Market Forecasts and Analysis - By Countries
9.1.5.1 United States Fiber Reinforced Polymer (FRP) Panels And Sheets Market
9.1.5.1.1 United States Fiber Reinforced Polymer (FRP) Panels And Sheets Market by Type
9.1.5.1.2 United States Fiber Reinforced Polymer (FRP) Panels And Sheets Market by End-use Industry
9.1.5.2 Canada Fiber Reinforced Polymer (FRP) Panels And Sheets Market
9.1.5.2.1 Canada Fiber Reinforced Polymer (FRP) Panels And Sheets Market by Type
9.1.5.2.2 Canada Fiber Reinforced Polymer (FRP) Panels And Sheets Market by End-use Industry
9.1.5.3 Mexico Fiber Reinforced Polymer (FRP) Panels And Sheets Market
9.1.5.3.1 Mexico Fiber Reinforced Polymer (FRP) Panels And Sheets Market by Type
9.1.5.3.2 Mexico Fiber Reinforced Polymer (FRP) Panels And Sheets Market by End-use Industry
9.2. EUROPE
9.2.1 Europe Fiber Reinforced Polymer (FRP) Panels And Sheets Market Overview
9.2.2 Europe Fiber Reinforced Polymer (FRP) Panels And Sheets Market Forecasts and Analysis
9.2.3 Europe Fiber Reinforced Polymer (FRP) Panels And Sheets Market Forecasts and Analysis - By Type
9.2.4 Europe Fiber Reinforced Polymer (FRP) Panels And Sheets Market Forecasts and Analysis - By End-use Industry
9.2.5 Europe Fiber Reinforced Polymer (FRP) Panels And Sheets Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Fiber Reinforced Polymer (FRP) Panels And Sheets Market
9.2.5.1.1 Germany Fiber Reinforced Polymer (FRP) Panels And Sheets Market by Type
9.2.5.1.2 Germany Fiber Reinforced Polymer (FRP) Panels And Sheets Market by End-use Industry
9.2.5.2 France Fiber Reinforced Polymer (FRP) Panels And Sheets Market
9.2.5.2.1 France Fiber Reinforced Polymer (FRP) Panels And Sheets Market by Type
9.2.5.2.2 France Fiber Reinforced Polymer (FRP) Panels And Sheets Market by End-use Industry
9.2.5.3 Italy Fiber Reinforced Polymer (FRP) Panels And Sheets Market
9.2.5.3.1 Italy Fiber Reinforced Polymer (FRP) Panels And Sheets Market by Type
9.2.5.3.2 Italy Fiber Reinforced Polymer (FRP) Panels And Sheets Market by End-use Industry
9.2.5.4 United Kingdom Fiber Reinforced Polymer (FRP) Panels And Sheets Market
9.2.5.4.1 United Kingdom Fiber Reinforced Polymer (FRP) Panels And Sheets Market by Type
9.2.5.4.2 United Kingdom Fiber Reinforced Polymer (FRP) Panels And Sheets Market by End-use Industry
9.2.5.5 Russia Fiber Reinforced Polymer (FRP) Panels And Sheets Market
9.2.5.5.1 Russia Fiber Reinforced Polymer (FRP) Panels And Sheets Market by Type
9.2.5.5.2 Russia Fiber Reinforced Polymer (FRP) Panels And Sheets Market by End-use Industry
9.2.5.6 Rest of Europe Fiber Reinforced Polymer (FRP) Panels And Sheets Market
9.2.5.6.1 Rest of Europe Fiber Reinforced Polymer (FRP) Panels And Sheets Market by Type
9.2.5.6.2 Rest of Europe Fiber Reinforced Polymer (FRP) Panels And Sheets Market by End-use Industry
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Fiber Reinforced Polymer (FRP) Panels And Sheets Market Overview
9.3.2 Asia-Pacific Fiber Reinforced Polymer (FRP) Panels And Sheets Market Forecasts and Analysis
9.3.3 Asia-Pacific Fiber Reinforced Polymer (FRP) Panels And Sheets Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Fiber Reinforced Polymer (FRP) Panels And Sheets Market Forecasts and Analysis - By End-use Industry
9.3.5 Asia-Pacific Fiber Reinforced Polymer (FRP) Panels And Sheets Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Fiber Reinforced Polymer (FRP) Panels And Sheets Market
9.3.5.1.1 Australia Fiber Reinforced Polymer (FRP) Panels And Sheets Market by Type
9.3.5.1.2 Australia Fiber Reinforced Polymer (FRP) Panels And Sheets Market by End-use Industry
9.3.5.2 China Fiber Reinforced Polymer (FRP) Panels And Sheets Market
9.3.5.2.1 China Fiber Reinforced Polymer (FRP) Panels And Sheets Market by Type
9.3.5.2.2 China Fiber Reinforced Polymer (FRP) Panels And Sheets Market by End-use Industry
9.3.5.3 India Fiber Reinforced Polymer (FRP) Panels And Sheets Market
9.3.5.3.1 India Fiber Reinforced Polymer (FRP) Panels And Sheets Market by Type
9.3.5.3.2 India Fiber Reinforced Polymer (FRP) Panels And Sheets Market by End-use Industry
9.3.5.4 Japan Fiber Reinforced Polymer (FRP) Panels And Sheets Market
9.3.5.4.1 Japan Fiber Reinforced Polymer (FRP) Panels And Sheets Market by Type
9.3.5.4.2 Japan Fiber Reinforced Polymer (FRP) Panels And Sheets Market by End-use Industry
9.3.5.5 South Korea Fiber Reinforced Polymer (FRP) Panels And Sheets Market
9.3.5.5.1 South Korea Fiber Reinforced Polymer (FRP) Panels And Sheets Market by Type
9.3.5.5.2 South Korea Fiber Reinforced Polymer (FRP) Panels And Sheets Market by End-use Industry
9.3.5.6 Rest of Asia-Pacific Fiber Reinforced Polymer (FRP) Panels And Sheets Market
9.3.5.6.1 Rest of Asia-Pacific Fiber Reinforced Polymer (FRP) Panels And Sheets Market by Type
9.3.5.6.2 Rest of Asia-Pacific Fiber Reinforced Polymer (FRP) Panels And Sheets Market by End-use Industry
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Fiber Reinforced Polymer (FRP) Panels And Sheets Market Overview
9.4.2 Middle East and Africa Fiber Reinforced Polymer (FRP) Panels And Sheets Market Forecasts and Analysis
9.4.3 Middle East and Africa Fiber Reinforced Polymer (FRP) Panels And Sheets Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Fiber Reinforced Polymer (FRP) Panels And Sheets Market Forecasts and Analysis - By End-use Industry
9.4.5 Middle East and Africa Fiber Reinforced Polymer (FRP) Panels And Sheets Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Fiber Reinforced Polymer (FRP) Panels And Sheets Market
9.4.5.1.1 South Africa Fiber Reinforced Polymer (FRP) Panels And Sheets Market by Type
9.4.5.1.2 South Africa Fiber Reinforced Polymer (FRP) Panels And Sheets Market by End-use Industry
9.4.5.2 Saudi Arabia Fiber Reinforced Polymer (FRP) Panels And Sheets Market
9.4.5.2.1 Saudi Arabia Fiber Reinforced Polymer (FRP) Panels And Sheets Market by Type
9.4.5.2.2 Saudi Arabia Fiber Reinforced Polymer (FRP) Panels And Sheets Market by End-use Industry
9.4.5.3 U.A.E Fiber Reinforced Polymer (FRP) Panels And Sheets Market
9.4.5.3.1 U.A.E Fiber Reinforced Polymer (FRP) Panels And Sheets Market by Type
9.4.5.3.2 U.A.E Fiber Reinforced Polymer (FRP) Panels And Sheets Market by End-use Industry
9.4.5.4 Rest of Middle East and Africa Fiber Reinforced Polymer (FRP) Panels And Sheets Market
9.4.5.4.1 Rest of Middle East and Africa Fiber Reinforced Polymer (FRP) Panels And Sheets Market by Type
9.4.5.4.2 Rest of Middle East and Africa Fiber Reinforced Polymer (FRP) Panels And Sheets Market by End-use Industry
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Fiber Reinforced Polymer (FRP) Panels And Sheets Market Overview
9.5.2 South and Central America Fiber Reinforced Polymer (FRP) Panels And Sheets Market Forecasts and Analysis
9.5.3 South and Central America Fiber Reinforced Polymer (FRP) Panels And Sheets Market Forecasts and Analysis - By Type
9.5.4 South and Central America Fiber Reinforced Polymer (FRP) Panels And Sheets Market Forecasts and Analysis - By End-use Industry
9.5.5 South and Central America Fiber Reinforced Polymer (FRP) Panels And Sheets Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Fiber Reinforced Polymer (FRP) Panels And Sheets Market
9.5.5.1.1 Brazil Fiber Reinforced Polymer (FRP) Panels And Sheets Market by Type
9.5.5.1.2 Brazil Fiber Reinforced Polymer (FRP) Panels And Sheets Market by End-use Industry
9.5.5.2 Argentina Fiber Reinforced Polymer (FRP) Panels And Sheets Market
9.5.5.2.1 Argentina Fiber Reinforced Polymer (FRP) Panels And Sheets Market by Type
9.5.5.2.2 Argentina Fiber Reinforced Polymer (FRP) Panels And Sheets Market by End-use Industry
9.5.5.3 Rest of South and Central America Fiber Reinforced Polymer (FRP) Panels And Sheets Market
9.5.5.3.1 Rest of South and Central America Fiber Reinforced Polymer (FRP) Panels And Sheets Market by Type
9.5.5.3.2 Rest of South and Central America Fiber Reinforced Polymer (FRP) Panels And Sheets 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. FIBER REINFORCED POLYMER (FRP) PANELS AND SHEETS MARKET, KEY COMPANY PROFILES
11.1. BRIANZA PLASTICA S.P.A.
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. CRANE COMPOSITES INC.
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. C-SCO SANDWICH PANEL AND SHELTERS INDUSTRY CO. LTD.
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. GLASTEEL, INC.
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. LAMILUX HEINRICH STRUNZ GROUP
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. OPTIPLAN GMBH
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. PANOLAM INDUSTRIES INTERNATIONAL INC.
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. POLSER FIBERGLASS REINFORCED PLASTICS INC.
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. U.S. LINER COMPANY
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. VETRORESINA SPA
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. Brianza Plastica S.p.A.
2. Crane Composites Inc.
3. C-Sco Sandwich Panel and Shelters Industry Co. Ltd.
4. Glasteel, Inc.
5. LAMILUX Heinrich Strunz Group
6. Optiplan GmbH
7. Panolam Industries International Inc.
8. Polser Fiberglass Reinforced Plastics Inc.
9. U.S. Liner Company
10. Vetroresina SPA
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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