The Polyethylene Glycol Market is expected to register a CAGR of 6% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The polyethylene glycol market report is segmented by grade (polyethylene glycol 200, polyethylene glycol 300, polyethylene glycol 400, and others). The market is segmented based on the application (healthcare, building and construction, industrial, cosmetics and personal care, and others). The global analysis is further broken down at the regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis, segments, regions, and countries. The report covers market trends, as well as market dynamics such as drivers, restraints, and key opportunities. The report also covers industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the market.
Purpose of the ReportThe report Polyethylene Glycol 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.
Polyethylene Glycol Market Segmentation
Grade- Polyethylene Glycol 200
- Polyethylene Glycol 300
- Polyethylene Glycol 400
- Healthcare
- Building and Construction
- Industrial
- Cosmetics and Personal Care
Strategic Insights
Polyethylene Glycol Market Growth Drivers- Rising Demand for Polyethylene Glycol in Pharmaceuticals and Personal Care: The growth of the polyethylene glycol market can be attributed to its high demand in the pharmaceutical and personal care industries. In pharmaceuticals, PEG acts as a soluble dosage form in its liquid and solid dosage forms, providing much-needed solubility, has minimal toxicity, and is non-reactive and well tolerated by body tissues. In addition, it finds extensive applications in topical products such as ointments, creams, and gels. Concerning care of the body and skin, the compound is incorporated in cosmetic and body care products as an emulsifier, solvent and humectant to enhance product quality and maintain moisture in the skin, respectively. Furthermore, the world over, more and more people are consuming health-related products, and there is more focus on beauty and skincare, which leads to growth in the market.
- Increasing Use of Polyethylene Glycol in the Food and Beverage Sector: This also explains why polyethylene glycol is finding more and more use in the food and beverage sector. Understanding that the appetite for processed and convenience foods is on the increase, mostly in developing countries, the food and beverages industry further enhances the advancement in polyethylene glycol.
- Wide Application Scope: PEG is also used in manufacturing as a lubricant for different purposes, such as automotive, textiles, and paper. It is important for industrial lubricants, hydraulic fluids, and cutting fluids, where it is effective as a friction-reducing medium and a viscosity modifier. In addition, PEG is added to emulsions of paints, coatings, and adhesives as a surfactant.
- Rising Demand for Eco-Friendly Bio-Based Polyethylene Glycol: With the increasing observance of environmental conservation, the tendency to come up with biodegradable and eco-friendly polyethylene glycol does better. Bio-based PEG, which is made from organic raw materials such as plants, is currently trending upwards as more and more manufacturers are able to lower their impacts on the environment. This development corresponds with the tendency of businesses to promote the use of ‘green chemicals’ and sustainable processes in the business, hence ringing in new prospects to coproducers of PEG who have no resistance to the demand for such substitutes.
- Growth of PEGylation Technologies in Biologics and Cancer Therapies: In the field of pharmacy, particularly in the use of PEGylated drug delivery systems, there is a positive trend. On this occasion, the term “PEGylation” refers to the procedure of attaching polyethylene glycol (PEG) directly onto the drug itself, resulting in a molecule with increased stability, solubility, and half-life of the administered drug within the body. Of late, it is bec oming popular in the manufacturing of biologics and cancer therapies where PEGylation can improve therapeutic activity and minimize harmful effects. Given the increasing popularity of biologics and targeted therapies, the use of PEGylation technologies will be on the increase which will lead to further expansion of the polyethylene glycol industry.
- Industrialization in Emerging Economies: With growing industrialization in the developing economies of the Asia-Pacific, Latin America, and Africa regions, the consumption of PEG in many applications is anticipated to increase. The rising cities, improvement in disposable incomes, and the growth of the manufacturing industry in these areas are likely to lead to increased highly use of PEG in personal care, food processing, pharmaceuticals, and industrial uses. Healthcare expenditure in these developing countries is increasing, and there is a willingness to embrace new ways of medical treatment, thereby increasing the demand for medical-grade PEGs in these regions and countries.
- Expansion in Biopharmaceutical and Biotechnology Sectors: The growing biopharmaceutical and biotechnology sectors offer huge threats and prospects for the growth of the polyethylene glycol market. There is a potential for the demand for PEG in these advanced biological systems, especially with the introduction of PEGylation. The drugs that are primarily marketed these days include biologics, gene therapy, and monoclonal antibodies. Developer companies who aim at exploring innovative strategies for PEG, drug conjugation, or development of PEGylated drug delivery systems are bound to benefit from the promising upward growth of the biopharma industry that is rapidly expanding due to the aging populations across the world as well as the incidence of chronic diseases.
- Expanding Demand for Polyethylene Glycol: Another potential end-user industry for polyethylene glycol suppliers is the worldwide personal care as well as cosmetic industry. PEG is usually found within various cosmetic items under shampoos, skin moisturizers, and sunscreen, among other products, as an emulsifier, solvent, or conditioning agent. With consumers starting to steer their tastes toward high-quality, value-added care products, expansion of PEG in product performance is likely to remain strong. Most importantly, the growing “clean beauty” movement and the use of natural products are raising the need for more eco-friendly, non-toxic PEGs, thus creating product supply gaps to be filled.
- Industrialization in Emerging Economies: Rapid growth of the polyethylene glycol market can be attributed to the rising industrialization of emerging economies, especially in the Asia-Pacific and African regions. The demand for PEG is anticipated to grow as countries such as China, India, Brazil, and South Africa continue to develop their pharmaceutical, food processing, and FMCG sectors. The wide range of applications of PEG includes use in pharmaceuticals, food additives, and cosmetics.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Polyethylene Glycol 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 Polyethylene Glycol 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
Focus on biodegradable and eco-friendly PEG variants is expected to be the key market trends.
Based on geography, Asia Pacific held the largest share of the polyethylene glycol market due to the strong growth of the healthcare and cosmetics industry.
Based on application, the healthcare segment is expected to witness the fastest growth during the forecast period.
Rising demand in pharmaceutical and personal care industries is driving the market growth.
BASF SE, Croda, Dow Chemical, India Glycols, Ineos, Merck KGaA, SABIC, Spectrum Chemical Manufacturing Corp, LOTTE CHEMICAL, and Huangma Chemical are the key players operating in the polyethylene glycol market.
The Polyethylene Glycol Market is estimated to witness a CAGR of 6% 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 Polyethylene Glycol Market - By Grade
1.3.2 Polyethylene Glycol Market - By Form
1.3.3 Polyethylene Glycol Market - By Application
1.3.4 Polyethylene Glycol Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. POLYETHYLENE GLYCOL 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. POLYETHYLENE GLYCOL 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. POLYETHYLENE GLYCOL MARKET - GLOBAL MARKET ANALYSIS
6.1. POLYETHYLENE GLYCOL - GLOBAL MARKET OVERVIEW
6.2. POLYETHYLENE GLYCOL - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. POLYETHYLENE GLYCOL MARKET - REVENUE AND FORECASTS TO 2028 - GRADE
7.1. OVERVIEW
7.2. GRADE MARKET FORECASTS AND ANALYSIS
7.3. POLYETHYLENE GLYCOL 200
7.3.1. Overview
7.3.2. polyethylene glycol 200 Market Forecast and Analysis
7.4. POLYETHYLENE GLYCOL 300
7.4.1. Overview
7.4.2. polyethylene glycol 300 Market Forecast and Analysis
7.5. POLYETHYLENE GLYCOL 400
7.5.1. Overview
7.5.2. polyethylene glycol 400 Market Forecast and Analysis
7.6. POLYETHYLENE GLYCOL 3350
7.6.1. Overview
7.6.2. polyethylene glycol 3350 Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. others Market Forecast and Analysis
8. POLYETHYLENE GLYCOL MARKET - REVENUE AND FORECASTS TO 2028 - FORM
8.1. OVERVIEW
8.2. FORM MARKET FORECASTS AND ANALYSIS
8.3. OPAQUE LIQUID
8.3.1. Overview
8.3.2. opaque liquid Market Forecast and Analysis
8.4. WHITE WAXY SOLID
8.4.1. Overview
8.4.2. white waxy solid Market Forecast and Analysis
8.5. FLAKES/ POWDER
8.5.1. Overview
8.5.2. flakes/ powder Market Forecast and Analysis
9. POLYETHYLENE GLYCOL MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. HEALTHCARE
9.3.1. Overview
9.3.2. healthcare Market Forecast and Analysis
9.4. BUILDING AND CONSTRUCTION
9.4.1. Overview
9.4.2. building and construction Market Forecast and Analysis
9.5. INDUSTRIAL
9.5.1. Overview
9.5.2. industrial Market Forecast and Analysis
9.6. COSMETICS/ PERSONAL CARE
9.6.1. Overview
9.6.2. cosmetics/ personal care Market Forecast and Analysis
9.7. OTHERS.
9.7.1. Overview
9.7.2. others. Market Forecast and Analysis
10. POLYETHYLENE GLYCOL MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Polyethylene Glycol Market Overview
10.1.2 North America Polyethylene Glycol Market Forecasts and Analysis
10.1.3 North America Polyethylene Glycol Market Forecasts and Analysis - By Grade
10.1.4 North America Polyethylene Glycol Market Forecasts and Analysis - By Form
10.1.5 North America Polyethylene Glycol Market Forecasts and Analysis - By Application
10.1.6 North America Polyethylene Glycol Market Forecasts and Analysis - By Countries
10.1.6.1 United States Polyethylene Glycol Market
10.1.6.1.1 United States Polyethylene Glycol Market by Grade
10.1.6.1.2 United States Polyethylene Glycol Market by Form
10.1.6.1.3 United States Polyethylene Glycol Market by Application
10.1.6.2 Canada Polyethylene Glycol Market
10.1.6.2.1 Canada Polyethylene Glycol Market by Grade
10.1.6.2.2 Canada Polyethylene Glycol Market by Form
10.1.6.2.3 Canada Polyethylene Glycol Market by Application
10.1.6.3 Mexico Polyethylene Glycol Market
10.1.6.3.1 Mexico Polyethylene Glycol Market by Grade
10.1.6.3.2 Mexico Polyethylene Glycol Market by Form
10.1.6.3.3 Mexico Polyethylene Glycol Market by Application
10.2. EUROPE
10.2.1 Europe Polyethylene Glycol Market Overview
10.2.2 Europe Polyethylene Glycol Market Forecasts and Analysis
10.2.3 Europe Polyethylene Glycol Market Forecasts and Analysis - By Grade
10.2.4 Europe Polyethylene Glycol Market Forecasts and Analysis - By Form
10.2.5 Europe Polyethylene Glycol Market Forecasts and Analysis - By Application
10.2.6 Europe Polyethylene Glycol Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Polyethylene Glycol Market
10.2.6.1.1 Germany Polyethylene Glycol Market by Grade
10.2.6.1.2 Germany Polyethylene Glycol Market by Form
10.2.6.1.3 Germany Polyethylene Glycol Market by Application
10.2.6.2 France Polyethylene Glycol Market
10.2.6.2.1 France Polyethylene Glycol Market by Grade
10.2.6.2.2 France Polyethylene Glycol Market by Form
10.2.6.2.3 France Polyethylene Glycol Market by Application
10.2.6.3 Italy Polyethylene Glycol Market
10.2.6.3.1 Italy Polyethylene Glycol Market by Grade
10.2.6.3.2 Italy Polyethylene Glycol Market by Form
10.2.6.3.3 Italy Polyethylene Glycol Market by Application
10.2.6.4 United Kingdom Polyethylene Glycol Market
10.2.6.4.1 United Kingdom Polyethylene Glycol Market by Grade
10.2.6.4.2 United Kingdom Polyethylene Glycol Market by Form
10.2.6.4.3 United Kingdom Polyethylene Glycol Market by Application
10.2.6.5 Russia Polyethylene Glycol Market
10.2.6.5.1 Russia Polyethylene Glycol Market by Grade
10.2.6.5.2 Russia Polyethylene Glycol Market by Form
10.2.6.5.3 Russia Polyethylene Glycol Market by Application
10.2.6.6 Rest of Europe Polyethylene Glycol Market
10.2.6.6.1 Rest of Europe Polyethylene Glycol Market by Grade
10.2.6.6.2 Rest of Europe Polyethylene Glycol Market by Form
10.2.6.6.3 Rest of Europe Polyethylene Glycol Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Polyethylene Glycol Market Overview
10.3.2 Asia-Pacific Polyethylene Glycol Market Forecasts and Analysis
10.3.3 Asia-Pacific Polyethylene Glycol Market Forecasts and Analysis - By Grade
10.3.4 Asia-Pacific Polyethylene Glycol Market Forecasts and Analysis - By Form
10.3.5 Asia-Pacific Polyethylene Glycol Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Polyethylene Glycol Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Polyethylene Glycol Market
10.3.6.1.1 Australia Polyethylene Glycol Market by Grade
10.3.6.1.2 Australia Polyethylene Glycol Market by Form
10.3.6.1.3 Australia Polyethylene Glycol Market by Application
10.3.6.2 China Polyethylene Glycol Market
10.3.6.2.1 China Polyethylene Glycol Market by Grade
10.3.6.2.2 China Polyethylene Glycol Market by Form
10.3.6.2.3 China Polyethylene Glycol Market by Application
10.3.6.3 India Polyethylene Glycol Market
10.3.6.3.1 India Polyethylene Glycol Market by Grade
10.3.6.3.2 India Polyethylene Glycol Market by Form
10.3.6.3.3 India Polyethylene Glycol Market by Application
10.3.6.4 Japan Polyethylene Glycol Market
10.3.6.4.1 Japan Polyethylene Glycol Market by Grade
10.3.6.4.2 Japan Polyethylene Glycol Market by Form
10.3.6.4.3 Japan Polyethylene Glycol Market by Application
10.3.6.5 South Korea Polyethylene Glycol Market
10.3.6.5.1 South Korea Polyethylene Glycol Market by Grade
10.3.6.5.2 South Korea Polyethylene Glycol Market by Form
10.3.6.5.3 South Korea Polyethylene Glycol Market by Application
10.3.6.6 Rest of Asia-Pacific Polyethylene Glycol Market
10.3.6.6.1 Rest of Asia-Pacific Polyethylene Glycol Market by Grade
10.3.6.6.2 Rest of Asia-Pacific Polyethylene Glycol Market by Form
10.3.6.6.3 Rest of Asia-Pacific Polyethylene Glycol Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Polyethylene Glycol Market Overview
10.4.2 Middle East and Africa Polyethylene Glycol Market Forecasts and Analysis
10.4.3 Middle East and Africa Polyethylene Glycol Market Forecasts and Analysis - By Grade
10.4.4 Middle East and Africa Polyethylene Glycol Market Forecasts and Analysis - By Form
10.4.5 Middle East and Africa Polyethylene Glycol Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Polyethylene Glycol Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Polyethylene Glycol Market
10.4.6.1.1 South Africa Polyethylene Glycol Market by Grade
10.4.6.1.2 South Africa Polyethylene Glycol Market by Form
10.4.6.1.3 South Africa Polyethylene Glycol Market by Application
10.4.6.2 Saudi Arabia Polyethylene Glycol Market
10.4.6.2.1 Saudi Arabia Polyethylene Glycol Market by Grade
10.4.6.2.2 Saudi Arabia Polyethylene Glycol Market by Form
10.4.6.2.3 Saudi Arabia Polyethylene Glycol Market by Application
10.4.6.3 U.A.E Polyethylene Glycol Market
10.4.6.3.1 U.A.E Polyethylene Glycol Market by Grade
10.4.6.3.2 U.A.E Polyethylene Glycol Market by Form
10.4.6.3.3 U.A.E Polyethylene Glycol Market by Application
10.4.6.4 Rest of Middle East and Africa Polyethylene Glycol Market
10.4.6.4.1 Rest of Middle East and Africa Polyethylene Glycol Market by Grade
10.4.6.4.2 Rest of Middle East and Africa Polyethylene Glycol Market by Form
10.4.6.4.3 Rest of Middle East and Africa Polyethylene Glycol Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Polyethylene Glycol Market Overview
10.5.2 South and Central America Polyethylene Glycol Market Forecasts and Analysis
10.5.3 South and Central America Polyethylene Glycol Market Forecasts and Analysis - By Grade
10.5.4 South and Central America Polyethylene Glycol Market Forecasts and Analysis - By Form
10.5.5 South and Central America Polyethylene Glycol Market Forecasts and Analysis - By Application
10.5.6 South and Central America Polyethylene Glycol Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Polyethylene Glycol Market
10.5.6.1.1 Brazil Polyethylene Glycol Market by Grade
10.5.6.1.2 Brazil Polyethylene Glycol Market by Form
10.5.6.1.3 Brazil Polyethylene Glycol Market by Application
10.5.6.2 Argentina Polyethylene Glycol Market
10.5.6.2.1 Argentina Polyethylene Glycol Market by Grade
10.5.6.2.2 Argentina Polyethylene Glycol Market by Form
10.5.6.2.3 Argentina Polyethylene Glycol Market by Application
10.5.6.3 Rest of South and Central America Polyethylene Glycol Market
10.5.6.3.1 Rest of South and Central America Polyethylene Glycol Market by Grade
10.5.6.3.2 Rest of South and Central America Polyethylene Glycol Market by Form
10.5.6.3.3 Rest of South and Central America Polyethylene Glycol Market by Application
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. POLYETHYLENE GLYCOL MARKET, KEY COMPANY PROFILES
12.1. BASF
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. CRODA
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. DOW CHEMICAL
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. INDIA GLYCOLS
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. INEOS
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. LIAONING OXIRANCHEM
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. MERCK KGAA
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. OXITENO
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. SABIC
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. SPECTRUM CHEMICAL MANUFACTURING CORP
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. BASF
2. Croda
3. Dow Chemical
4. India Glycols
5. Ineos
6. Liaoning Oxiranchem
7. Merck KGaA
8. Oxiteno
9. SABIC
10. Spectrum Chemical Manufacturing Corp
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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