The High-Purity Electronic Grade Phosphoric Acid Market is expected to register a CAGR of 8% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
High-Purity Electronic Grade Phosphoric Acid Market covers analysis By Type (2 N, 3 N, Others); By Application (Cleaning, Etching, Others), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). Electronic-grade phosphoric acids are the pure forms of phosphoric acid used as etchants in semiconductor manufacturing. It is also serving as a dopant for certain types of photovoltaic production. The different types of high-purity electronic grade phosphoric acid are 2N, 3N, and others. The pure phosphoric acid obtained by the thermal process.
Purpose of the ReportThe report High-Purity Electronic Grade Phosphoric 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.
High-Purity Electronic Grade Phosphoric Acid Market Segmentation
Type- 2 N
- 3 N
- Cleaning
- Etching
Strategic Insights
High-Purity Electronic Grade Phosphoric Acid Market Growth Drivers- Expansion of Semiconductor Manufacturing and EGPA Demand: Highly pure electronic grade phosphoric acid, or EGPA, is vital for semiconductor manufacturers, as it is used in the etching and cleaning processes. With an increase in demand for semiconductors made by electronic, automotive, and telecommunication industries, the EGPA market is growing along with this trend.
- Increasing Demand for Electronics and EGPA Usage: One of the factors increasing demand for electronic equipment, including mobile phones, laptops, and wearables, is the demand for quality chemicals in their processes. EGPA is vital in washing and processing silicon wafers and parts; this breeds further expansion in electronics and high-tech industries.
- Miniaturization of Electronic Devices and the Need for EGPA: As electronic devices shrink smaller and become more complex, the need for high-purity chemicals like EGPA will continue to accelerate. Precision processes in the microelectronics manufacturing industry, including ICs and microchips, are very reliant on EGPA, and they represent one of the trends in electronics miniaturization.
- Growing Environmental and Quality Standards in Electronics Manufacturing: Increasing the level of environmental and quality standards in the fabrication processes of electronic manufacturing is leaving no stones unturned Highly pure electronic grade phosphoric acid, or EGPA, is vital for semiconductor manufacturers, as it is used in the etching and cleaning processes. With an increase in demand for semiconductors made by electronic, automotive, and telecommunication industries, the EGPA market is growing along with this trend.
- Increased Demand for Electronic Equipment Driving EGPA Usage: One of the factors increasing demand for electronic equipment, including mobile phones, laptops, and wearables, is the demand for quality chemicals in their processes. EGPA is vital in washing and processing silicon wafers and parts; this breeds further expansion in electronics and high-tech industries.
- Miniaturization of Electronic Devices and the Role of EGPA: As electronic devices shrink smaller and become more complex, the need for high-purity chemicals like EGPA will continue to accelerate. Precision processes in the microelectronics manufacturing industry, including ICs and microchips, are very reliant on EGPA, and they represent one of the trends in electronics miniaturization.
- Adoption of Solar Power and the Growing Demand for EGPA in PV Cell Manufacturing: There has been increasing adoption of solar power, therefore there is a related requirement for EGPA in the manufacture of PV cells. EGPA also has applications in silicon wafers cleaning and solar panel efficiency enhancement, leading to the expansion of the solar energy market and upgrading the consumption of EGPA.
- EGPA’s Role in Electric Vehicles and Semiconductor Growth: Electric vehicles need advanced electronic components and are thus resulting in growth for the semiconductor industry. The company's use of EGPA in semiconductor fabrication processes used in EV power electronics makes it one of the immediate beneficiaries of this growth, along with the expanding electric vehicle market.
- The Impact of 5G Technology Rollout on EGPA Demand: Due to an emerging requirement for high-performance semiconductors and microelectronics during the rollout of 5G technology, EGPA plays a critical role in the fabrication of advanced components needed for 5G infrastructure, such as RF chips and antennas, leading to market growth for high-purity electronic grade phosphoric acid.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the High-Purity Electronic Grade Phosphoric 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 High-Purity Electronic Grade Phosphoric 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
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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 production of advanced lithium-ion batteries is an emerging trend in the market
The North America market is expected to account for the highest CAGR during the forecast period due to the growing electronics manufacturing in the region.
The cleaning application segment accounted for the largest market share in 2023
Arkema, Cabot Microelectronics Corporation, Chengxing Group, Hubei Xingfa Chemicals Group, ICL Performance Products, Merck KGaA, OCI Chemical, Rasa Industries, Rin Kagaku Kogyo, and Solvay are some of the key players in the market.
Surge in electronics production is a key driver in the market
The High-Purity Electronic Grade Phosphoric Acid Market is estimated to witness a CAGR of 8% 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 High Purity Electronic Grade Phosphoric Acid Market - By Type
1.3.2 High Purity Electronic Grade Phosphoric Acid Market - By End users/Applications
1.3.3 High Purity Electronic Grade Phosphoric Acid Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. HIGH PURITY ELECTRONIC GRADE PHOSPHORIC ACID 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. HIGH PURITY ELECTRONIC GRADE PHOSPHORIC 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. HIGH PURITY ELECTRONIC GRADE PHOSPHORIC ACID MARKET - GLOBAL MARKET ANALYSIS
6.1. HIGH PURITY ELECTRONIC GRADE PHOSPHORIC ACID - GLOBAL MARKET OVERVIEW
6.2. HIGH PURITY ELECTRONIC GRADE PHOSPHORIC ACID - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. HIGH PURITY ELECTRONIC GRADE PHOSPHORIC ACID MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. 2 N
7.3.1. Overview
7.3.2. 2 N Market Forecast and Analysis
7.4. 3 N
7.4.1. Overview
7.4.2. 3 N Market Forecast and Analysis
7.5. OTHERS
7.5.1. Overview
7.5.2. Others Market Forecast and Analysis
8. HIGH PURITY ELECTRONIC GRADE PHOSPHORIC ACID MARKET - REVENUE AND FORECASTS TO 2028 - END USERS/APPLICATIONS
8.1. OVERVIEW
8.2. END USERS/APPLICATIONS MARKET FORECASTS AND ANALYSIS
8.3. CLEANING
8.3.1. Overview
8.3.2. Cleaning Market Forecast and Analysis
8.4. ETCHING
8.4.1. Overview
8.4.2. Etching Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. HIGH PURITY ELECTRONIC GRADE PHOSPHORIC ACID MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America High Purity Electronic Grade Phosphoric Acid Market Overview
9.1.2 North America High Purity Electronic Grade Phosphoric Acid Market Forecasts and Analysis
9.1.3 North America High Purity Electronic Grade Phosphoric Acid Market Forecasts and Analysis - By Type
9.1.4 North America High Purity Electronic Grade Phosphoric Acid Market Forecasts and Analysis - By End users/Applications
9.1.5 North America High Purity Electronic Grade Phosphoric Acid Market Forecasts and Analysis - By Countries
9.1.5.1 United States High Purity Electronic Grade Phosphoric Acid Market
9.1.5.1.1 United States High Purity Electronic Grade Phosphoric Acid Market by Type
9.1.5.1.2 United States High Purity Electronic Grade Phosphoric Acid Market by End users/Applications
9.1.5.2 Canada High Purity Electronic Grade Phosphoric Acid Market
9.1.5.2.1 Canada High Purity Electronic Grade Phosphoric Acid Market by Type
9.1.5.2.2 Canada High Purity Electronic Grade Phosphoric Acid Market by End users/Applications
9.1.5.3 Mexico High Purity Electronic Grade Phosphoric Acid Market
9.1.5.3.1 Mexico High Purity Electronic Grade Phosphoric Acid Market by Type
9.1.5.3.2 Mexico High Purity Electronic Grade Phosphoric Acid Market by End users/Applications
9.2. EUROPE
9.2.1 Europe High Purity Electronic Grade Phosphoric Acid Market Overview
9.2.2 Europe High Purity Electronic Grade Phosphoric Acid Market Forecasts and Analysis
9.2.3 Europe High Purity Electronic Grade Phosphoric Acid Market Forecasts and Analysis - By Type
9.2.4 Europe High Purity Electronic Grade Phosphoric Acid Market Forecasts and Analysis - By End users/Applications
9.2.5 Europe High Purity Electronic Grade Phosphoric Acid Market Forecasts and Analysis - By Countries
9.2.5.1 Germany High Purity Electronic Grade Phosphoric Acid Market
9.2.5.1.1 Germany High Purity Electronic Grade Phosphoric Acid Market by Type
9.2.5.1.2 Germany High Purity Electronic Grade Phosphoric Acid Market by End users/Applications
9.2.5.2 France High Purity Electronic Grade Phosphoric Acid Market
9.2.5.2.1 France High Purity Electronic Grade Phosphoric Acid Market by Type
9.2.5.2.2 France High Purity Electronic Grade Phosphoric Acid Market by End users/Applications
9.2.5.3 Italy High Purity Electronic Grade Phosphoric Acid Market
9.2.5.3.1 Italy High Purity Electronic Grade Phosphoric Acid Market by Type
9.2.5.3.2 Italy High Purity Electronic Grade Phosphoric Acid Market by End users/Applications
9.2.5.4 United Kingdom High Purity Electronic Grade Phosphoric Acid Market
9.2.5.4.1 United Kingdom High Purity Electronic Grade Phosphoric Acid Market by Type
9.2.5.4.2 United Kingdom High Purity Electronic Grade Phosphoric Acid Market by End users/Applications
9.2.5.5 Rest of Europe High Purity Electronic Grade Phosphoric Acid Market
9.2.5.5.1 Rest of Europe High Purity Electronic Grade Phosphoric Acid Market by Type
9.2.5.5.2 Rest of Europe High Purity Electronic Grade Phosphoric Acid Market by End users/Applications
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific High Purity Electronic Grade Phosphoric Acid Market Overview
9.3.2 Asia-Pacific High Purity Electronic Grade Phosphoric Acid Market Forecasts and Analysis
9.3.3 Asia-Pacific High Purity Electronic Grade Phosphoric Acid Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific High Purity Electronic Grade Phosphoric Acid Market Forecasts and Analysis - By End users/Applications
9.3.5 Asia-Pacific High Purity Electronic Grade Phosphoric Acid Market Forecasts and Analysis - By Countries
9.3.5.1 Australia High Purity Electronic Grade Phosphoric Acid Market
9.3.5.1.1 Australia High Purity Electronic Grade Phosphoric Acid Market by Type
9.3.5.1.2 Australia High Purity Electronic Grade Phosphoric Acid Market by End users/Applications
9.3.5.2 China High Purity Electronic Grade Phosphoric Acid Market
9.3.5.2.1 China High Purity Electronic Grade Phosphoric Acid Market by Type
9.3.5.2.2 China High Purity Electronic Grade Phosphoric Acid Market by End users/Applications
9.3.5.3 India High Purity Electronic Grade Phosphoric Acid Market
9.3.5.3.1 India High Purity Electronic Grade Phosphoric Acid Market by Type
9.3.5.3.2 India High Purity Electronic Grade Phosphoric Acid Market by End users/Applications
9.3.5.4 Japan High Purity Electronic Grade Phosphoric Acid Market
9.3.5.4.1 Japan High Purity Electronic Grade Phosphoric Acid Market by Type
9.3.5.4.2 Japan High Purity Electronic Grade Phosphoric Acid Market by End users/Applications
9.3.5.5 South Korea High Purity Electronic Grade Phosphoric Acid Market
9.3.5.5.1 South Korea High Purity Electronic Grade Phosphoric Acid Market by Type
9.3.5.5.2 South Korea High Purity Electronic Grade Phosphoric Acid Market by End users/Applications
9.3.5.6 Rest of Asia-Pacific High Purity Electronic Grade Phosphoric Acid Market
9.3.5.6.1 Rest of Asia-Pacific High Purity Electronic Grade Phosphoric Acid Market by Type
9.3.5.6.2 Rest of Asia-Pacific High Purity Electronic Grade Phosphoric Acid Market by End users/Applications
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa High Purity Electronic Grade Phosphoric Acid Market Overview
9.4.2 Middle East and Africa High Purity Electronic Grade Phosphoric Acid Market Forecasts and Analysis
9.4.3 Middle East and Africa High Purity Electronic Grade Phosphoric Acid Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa High Purity Electronic Grade Phosphoric Acid Market Forecasts and Analysis - By End users/Applications
9.4.5 Middle East and Africa High Purity Electronic Grade Phosphoric Acid Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa High Purity Electronic Grade Phosphoric Acid Market
9.4.5.1.1 South Africa High Purity Electronic Grade Phosphoric Acid Market by Type
9.4.5.1.2 South Africa High Purity Electronic Grade Phosphoric Acid Market by End users/Applications
9.4.5.2 Saudi Arabia High Purity Electronic Grade Phosphoric Acid Market
9.4.5.2.1 Saudi Arabia High Purity Electronic Grade Phosphoric Acid Market by Type
9.4.5.2.2 Saudi Arabia High Purity Electronic Grade Phosphoric Acid Market by End users/Applications
9.4.5.3 U.A.E High Purity Electronic Grade Phosphoric Acid Market
9.4.5.3.1 U.A.E High Purity Electronic Grade Phosphoric Acid Market by Type
9.4.5.3.2 U.A.E High Purity Electronic Grade Phosphoric Acid Market by End users/Applications
9.4.5.4 Rest of Middle East and Africa High Purity Electronic Grade Phosphoric Acid Market
9.4.5.4.1 Rest of Middle East and Africa High Purity Electronic Grade Phosphoric Acid Market by Type
9.4.5.4.2 Rest of Middle East and Africa High Purity Electronic Grade Phosphoric Acid Market by End users/Applications
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America High Purity Electronic Grade Phosphoric Acid Market Overview
9.5.2 South and Central America High Purity Electronic Grade Phosphoric Acid Market Forecasts and Analysis
9.5.3 South and Central America High Purity Electronic Grade Phosphoric Acid Market Forecasts and Analysis - By Type
9.5.4 South and Central America High Purity Electronic Grade Phosphoric Acid Market Forecasts and Analysis - By End users/Applications
9.5.5 South and Central America High Purity Electronic Grade Phosphoric Acid Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil High Purity Electronic Grade Phosphoric Acid Market
9.5.5.1.1 Brazil High Purity Electronic Grade Phosphoric Acid Market by Type
9.5.5.1.2 Brazil High Purity Electronic Grade Phosphoric Acid Market by End users/Applications
9.5.5.2 Argentina High Purity Electronic Grade Phosphoric Acid Market
9.5.5.2.1 Argentina High Purity Electronic Grade Phosphoric Acid Market by Type
9.5.5.2.2 Argentina High Purity Electronic Grade Phosphoric Acid Market by End users/Applications
9.5.5.3 Rest of South and Central America High Purity Electronic Grade Phosphoric Acid Market
9.5.5.3.1 Rest of South and Central America High Purity Electronic Grade Phosphoric Acid Market by Type
9.5.5.3.2 Rest of South and Central America High Purity Electronic Grade Phosphoric Acid Market by End users/Applications
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. HIGH PURITY ELECTRONIC GRADE PHOSPHORIC ACID MARKET, KEY COMPANY PROFILES
11.1. ARKEMA
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. CABOT MICROELECTRONICS CORPORATION
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. CHENGXING GROUP
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. HUBEI XINGFA CHEMICALS GROUP
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. ICL PERFORMANCE PRODUCTS
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. MERCK KGAA
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. OCI CHEMICAL
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. RASA INDUSTRIES
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. RIN KAGAKU KOGYO
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. SOLVAY
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. Arkema
2. Cabot Microelectronics Corporation
3. Chengxing Group
4. Hubei Xingfa Chemicals Group
5. ICL Performance Products
6. Merck KGaA
7. OCI Chemical
8. Rasa Industries
9. Rin Kagaku Kogyo
10. Solvay
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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