The Plastic Decking Market is expected to register a CAGR of 10% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
Plastic Decking Market covers analysis by Material (High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), Polypropylene (PP), Polyvinyl Chloride (PVC), Others); Composite Type (Capped Composite Decking, Uncapped Composite Decking); End-user (Residential, Non-Residential), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). Decking is the flat surface construction which capable of supporting weight, similar to the floor. Replacement of traditional material with composite also boosting the need for the plastic decking market. Increasing urbanization used plastic decking to enhance the aesthetic value of building and construction that also propel the growth of the plastic decking market.
Purpose of the ReportThe report Plastic Decking 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.
Plastic Decking Market Segmentation
Material- High-Density Polyethylene
- Low-Density Polyethylene
- Polypropylene
- Polyvinyl Chloride
- Capped Composite Decking
- Uncapped Composite Decking
- Residential
- Non-Residential
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Plastic Decking Market Growth Drivers- Green and Sustainable Aspects to Plastics and Decking Market: The word environment has overshadowed the words demand when it comes to building materials. Thus, better preferred by consumers for decking would be recycled plastics or other sustainable materials like pollution reduced wood plastic composites (WPC) that have lower percentages of waste compared to wood decking, and hence this results in the increase in the market of plastic deck.
- Durable and requires minimal upkeep: Plastic decking materials are, therefore, among the most common choices for residential and commercial properties since they resist rot, weather, and insects. Unlike wood, plastic decking is almost maintenance-free and does not require painting or staining, making it even more attractive to those seeking low-maintenance, long-lasting solutions outdoors.
- Emerging Trends of DIY and Home Improvement: Increasing DIY home improvement projects have led to increased production of plastic decking materials. Perfectly, homeowners are eyeing something that would have an easy installation and much less maintenance as to the decking or patio floorings. Therefore, plastic decking becomes the prime choice for DIY enthusiasts because of its effortless installation.
- Sustainable Manufacturing Processes: One trend that will spread further in the manufacturing industry in the coming years, as environmental concerns grow, will be the adoption of sustainable manufacturing processes. Green production methods will be adopted by manufacturers such as replacing raw materials by recycled plastics or renewable resources, reducing energy consumption, and minimizing waste during production. It will drive the demand for environmentally acceptable decking materials meeting sustainability standards.
- Improved Aesthetics Options: The next generation of plastic decking will feature an even wider array of design possibilities, including textures that stimulate natural wood grains or other interesting patterns. Advances in coloration and finishes will give manufacturers opportunities to develop a type of plastic decking that looks very much like his traditional wood counterpart, offering customers a tempting alternative to wood decking facilities.
- Smart Technology Integration: Smart decking products will be coming up with the trend of increasing integration of outdoor spaces with technology. Potential future plastic decking will even come as smart products with built-in lighting, heating elements, or sensors to measure temperature and humidity, providing the ultimate user interaction to give new functionalities to the outdoor space.
- Residential Construction Growth: Outdoor living spaces are acknowledged to have high penetration potential for the plastic decking market. Increased investment in outdoor set-ups, such as patios and decks, is driving demand for decks that are low-maintenance, durable, and attractive at the same time-such as plastic and compositemade.
- The Development of Recycled Plastic Decking: There is more opportunity for industries to produce decking materials that are 100% recycled. Not only do they create products that meet the growing consumer's penchant for sustainable products, but they also cut down losses in plastics by recycling them. Using recycled plastics, producers can offer an "eco-friendly" alternative to traditional decking materials.
- Growing Emerging Markets: Rapidly urbanizing and expanding middle-class populations in emerging economies spell good opportunities for the plastic decking segment. The Asia Pacific, Latin America, and Africa regions will open growth strategies for companies dealing with outdoor construction and home improvement projects. More and more, long-lasting yet inexpensive decking will make up part of this building project.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Plastic Decking 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 Plastic Decking 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.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Growing demand for aesthetics is an emerging trend in the market
The North America market is expected to account for the highest CAGR during the forecast period, owing to the growing disposable income in the region.
The residential end user segment accounted for the largest market share in 2023
Growing outdoor living is a key driver in the market.
Advanced Environmental Recycling Technologies, Inc., Azek Building Products, Inc., Cardinal Building Products, CertainTeed Corporation, Duralife Decking and Railing Systems, Fiberon LLC, Green Bay Decking, TAMKO Building Products LLC, Universal Forests Products, Inc., and UPM Kymmene Corporation are some of the key players in the market.
The Plastic Decking Market is estimated to witness a CAGR of 10% from 2023 to 2031
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Plastic Decking Market - By Material
1.3.2 Plastic Decking Market - By Composite Type
1.3.3 Plastic Decking Market - By End-user
1.3.4 Plastic Decking Market - By Region
1.3.4.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. PLASTIC DECKING 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. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. PLASTIC DECKING 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. PLASTIC DECKING MARKET - GLOBAL MARKET ANALYSIS
6.1. PLASTIC DECKING - GLOBAL MARKET OVERVIEW
6.2. PLASTIC DECKING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. PLASTIC DECKING MARKET - REVENUE AND FORECASTS TO 2028 - MATERIAL
7.1. OVERVIEW
7.2. MATERIAL MARKET FORECASTS AND ANALYSIS
7.3. HIGH-DENSITY POLYETHYLENE (HDPE)
7.3.1. Overview
7.3.2. High-Density Polyethylene (HDPE) Market Forecast and Analysis
7.4. LOW-DENSITY POLYETHYLENE (LDPE)
7.4.1. Overview
7.4.2. Low-Density Polyethylene (LDPE) Market Forecast and Analysis
7.5. POLYPROPYLENE (PP)
7.5.1. Overview
7.5.2. Polypropylene (PP) Market Forecast and Analysis
7.6. POLYVINYL CHLORIDE (PVC)
7.6.1. Overview
7.6.2. Polyvinyl Chloride (PVC) Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. PLASTIC DECKING MARKET - REVENUE AND FORECASTS TO 2028 - COMPOSITE TYPE
8.1. OVERVIEW
8.2. COMPOSITE TYPE MARKET FORECASTS AND ANALYSIS
8.3. CAPPED COMPOSITE DECKING
8.3.1. Overview
8.3.2. Capped Composite Decking Market Forecast and Analysis
8.4. UNCAPPED COMPOSITE DECKING
8.4.1. Overview
8.4.2. Uncapped Composite Decking Market Forecast and Analysis
9. PLASTIC DECKING MARKET - REVENUE AND FORECASTS TO 2028 - END-USER
9.1. OVERVIEW
9.2. END-USER MARKET FORECASTS AND ANALYSIS
9.3. RESIDENTIAL
9.3.1. Overview
9.3.2. Residential Market Forecast and Analysis
9.4. NON-RESIDENTIAL
9.4.1. Overview
9.4.2. Non-Residential Market Forecast and Analysis
10. PLASTIC DECKING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Plastic Decking Market Overview
10.1.2 North America Plastic Decking Market Forecasts and Analysis
10.1.3 North America Plastic Decking Market Forecasts and Analysis - By Material
10.1.4 North America Plastic Decking Market Forecasts and Analysis - By Composite Type
10.1.5 North America Plastic Decking Market Forecasts and Analysis - By End-user
10.1.6 North America Plastic Decking Market Forecasts and Analysis - By Countries
10.1.6.1 Canada Plastic Decking Market
10.1.6.1.1 Canada Plastic Decking Market by Material
10.1.6.1.2 Canada Plastic Decking Market by Composite Type
10.1.6.1.3 Canada Plastic Decking Market by End-user
10.1.6.2 Mexico Plastic Decking Market
10.1.6.2.1 Mexico Plastic Decking Market by Material
10.1.6.2.2 Mexico Plastic Decking Market by Composite Type
10.1.6.2.3 Mexico Plastic Decking Market by End-user
10.1.6.3 US Plastic Decking Market
10.1.6.3.1 US Plastic Decking Market by Material
10.1.6.3.2 US Plastic Decking Market by Composite Type
10.1.6.3.3 US Plastic Decking Market by End-user
10.2. EUROPE
10.2.1 Europe Plastic Decking Market Overview
10.2.2 Europe Plastic Decking Market Forecasts and Analysis
10.2.3 Europe Plastic Decking Market Forecasts and Analysis - By Material
10.2.4 Europe Plastic Decking Market Forecasts and Analysis - By Composite Type
10.2.5 Europe Plastic Decking Market Forecasts and Analysis - By End-user
10.2.6 Europe Plastic Decking Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Plastic Decking Market
10.2.6.1.1 Germany Plastic Decking Market by Material
10.2.6.1.2 Germany Plastic Decking Market by Composite Type
10.2.6.1.3 Germany Plastic Decking Market by End-user
10.2.6.2 France Plastic Decking Market
10.2.6.2.1 France Plastic Decking Market by Material
10.2.6.2.2 France Plastic Decking Market by Composite Type
10.2.6.2.3 France Plastic Decking Market by End-user
10.2.6.3 Italy Plastic Decking Market
10.2.6.3.1 Italy Plastic Decking Market by Material
10.2.6.3.2 Italy Plastic Decking Market by Composite Type
10.2.6.3.3 Italy Plastic Decking Market by End-user
10.2.6.4 United Kingdom Plastic Decking Market
10.2.6.4.1 United Kingdom Plastic Decking Market by Material
10.2.6.4.2 United Kingdom Plastic Decking Market by Composite Type
10.2.6.4.3 United Kingdom Plastic Decking Market by End-user
10.2.6.5 Russia Plastic Decking Market
10.2.6.5.1 Russia Plastic Decking Market by Material
10.2.6.5.2 Russia Plastic Decking Market by Composite Type
10.2.6.5.3 Russia Plastic Decking Market by End-user
10.2.6.6 Rest of Europe Plastic Decking Market
10.2.6.6.1 Rest of Europe Plastic Decking Market by Material
10.2.6.6.2 Rest of Europe Plastic Decking Market by Composite Type
10.2.6.6.3 Rest of Europe Plastic Decking Market by End-user
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Plastic Decking Market Overview
10.3.2 Asia-Pacific Plastic Decking Market Forecasts and Analysis
10.3.3 Asia-Pacific Plastic Decking Market Forecasts and Analysis - By Material
10.3.4 Asia-Pacific Plastic Decking Market Forecasts and Analysis - By Composite Type
10.3.5 Asia-Pacific Plastic Decking Market Forecasts and Analysis - By End-user
10.3.6 Asia-Pacific Plastic Decking Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Plastic Decking Market
10.3.6.1.1 Australia Plastic Decking Market by Material
10.3.6.1.2 Australia Plastic Decking Market by Composite Type
10.3.6.1.3 Australia Plastic Decking Market by End-user
10.3.6.2 China Plastic Decking Market
10.3.6.2.1 China Plastic Decking Market by Material
10.3.6.2.2 China Plastic Decking Market by Composite Type
10.3.6.2.3 China Plastic Decking Market by End-user
10.3.6.3 India Plastic Decking Market
10.3.6.3.1 India Plastic Decking Market by Material
10.3.6.3.2 India Plastic Decking Market by Composite Type
10.3.6.3.3 India Plastic Decking Market by End-user
10.3.6.4 Japan Plastic Decking Market
10.3.6.4.1 Japan Plastic Decking Market by Material
10.3.6.4.2 Japan Plastic Decking Market by Composite Type
10.3.6.4.3 Japan Plastic Decking Market by End-user
10.3.6.5 South Korea Plastic Decking Market
10.3.6.5.1 South Korea Plastic Decking Market by Material
10.3.6.5.2 South Korea Plastic Decking Market by Composite Type
10.3.6.5.3 South Korea Plastic Decking Market by End-user
10.3.6.6 Rest of Asia-Pacific Plastic Decking Market
10.3.6.6.1 Rest of Asia-Pacific Plastic Decking Market by Material
10.3.6.6.2 Rest of Asia-Pacific Plastic Decking Market by Composite Type
10.3.6.6.3 Rest of Asia-Pacific Plastic Decking Market by End-user
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Plastic Decking Market Overview
10.4.2 Middle East and Africa Plastic Decking Market Forecasts and Analysis
10.4.3 Middle East and Africa Plastic Decking Market Forecasts and Analysis - By Material
10.4.4 Middle East and Africa Plastic Decking Market Forecasts and Analysis - By Composite Type
10.4.5 Middle East and Africa Plastic Decking Market Forecasts and Analysis - By End-user
10.4.6 Middle East and Africa Plastic Decking Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Plastic Decking Market
10.4.6.1.1 South Africa Plastic Decking Market by Material
10.4.6.1.2 South Africa Plastic Decking Market by Composite Type
10.4.6.1.3 South Africa Plastic Decking Market by End-user
10.4.6.2 Saudi Arabia Plastic Decking Market
10.4.6.2.1 Saudi Arabia Plastic Decking Market by Material
10.4.6.2.2 Saudi Arabia Plastic Decking Market by Composite Type
10.4.6.2.3 Saudi Arabia Plastic Decking Market by End-user
10.4.6.3 U.A.E Plastic Decking Market
10.4.6.3.1 U.A.E Plastic Decking Market by Material
10.4.6.3.2 U.A.E Plastic Decking Market by Composite Type
10.4.6.3.3 U.A.E Plastic Decking Market by End-user
10.4.6.4 Rest of Middle East and Africa Plastic Decking Market
10.4.6.4.1 Rest of Middle East and Africa Plastic Decking Market by Material
10.4.6.4.2 Rest of Middle East and Africa Plastic Decking Market by Composite Type
10.4.6.4.3 Rest of Middle East and Africa Plastic Decking Market by End-user
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Plastic Decking Market Overview
10.5.2 South and Central America Plastic Decking Market Forecasts and Analysis
10.5.3 South and Central America Plastic Decking Market Forecasts and Analysis - By Material
10.5.4 South and Central America Plastic Decking Market Forecasts and Analysis - By Composite Type
10.5.5 South and Central America Plastic Decking Market Forecasts and Analysis - By End-user
10.5.6 South and Central America Plastic Decking Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Plastic Decking Market
10.5.6.1.1 Brazil Plastic Decking Market by Material
10.5.6.1.2 Brazil Plastic Decking Market by Composite Type
10.5.6.1.3 Brazil Plastic Decking Market by End-user
10.5.6.2 Argentina Plastic Decking Market
10.5.6.2.1 Argentina Plastic Decking Market by Material
10.5.6.2.2 Argentina Plastic Decking Market by Composite Type
10.5.6.2.3 Argentina Plastic Decking Market by End-user
10.5.6.3 Rest of South and Central America Plastic Decking Market
10.5.6.3.1 Rest of South and Central America Plastic Decking Market by Material
10.5.6.3.2 Rest of South and Central America Plastic Decking Market by Composite Type
10.5.6.3.3 Rest of South and Central America Plastic Decking Market by End-user
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. PLASTIC DECKING MARKET, KEY COMPANY PROFILES
12.1. ADVANCED ENVIRONMENTAL RECYCLING TECHNOLOGIES, INC.
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. AZEK BUILDING PRODUCTS, INC.
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. CARDINAL BUILDING PRODUCTS
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. CERTAINTEED CORPORATION
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. DURALIFE DECKING AND RAILING SYSTEMS
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. FIBERON LLC
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. GREEN BAY DECKING
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. TAMKO BUILDING PRODUCTS LLC
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. UNIVERSAL FORESTS PRODUCTS, INC.
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. UPM KYMMENE CORPORATION
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
The List of Companies
1. Advanced Environmental Recycling Technologies, Inc.
2. Azek Building Products, Inc.
3. Cardinal Building Products
4. CertainTeed Corporation
5. Duralife Decking and Railing Systems
6. Fiberon LLC
7. Green Bay Decking
8. TAMKO Building Products LLC
9. Universal Forests Products, Inc.
10. UPM Kymmene Corporation
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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