The Solvent Borne Adhesives Market is expected to register a CAGR of 4.9% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by resin type (chloroprene rubber, poly acrylate (PA), SBC resin adhesives, and others). The report further presents an analysis based on the end-user industry (building and construction, paper, board and packaging, woodworking and joinery, transportation, footwear, electrical and electronics, and others). The report scope covers five regions: North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America and key countries under each region. The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Solvent Borne Adhesives 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.
Solvent Borne Adhesives Market Segmentation
Resin Type- Chloroprene Rubber
- Poly Acrylate
- SBC Resin Adhesives
- Building and Construction
- Paper
- Board and Packaging
- Woodworking and Joinery
- Transportation
- Footwear
- Electrical and Electronics
Strategic Insights
Solvent Borne Adhesives Market Growth Drivers- Automotive Sector: Automotive and manufacturing sectors account for major solvent-borne adhesives demand. Some of the materials that are bonded together in assembling the vehicles are interior parts, exterior trims, and structural members. Solvent-borne adhesives offer excellent bonds and thus form an integral material for bonding metals, glass, plastics, and composites. The ongoing demand for electric vehicles and lightweight materials throughout the world, especially in the automotive industry, will further increase the demand for high-performance adhesives in vehicle manufacturing with solvent-borne adhesives and further boost the market.
- Packaging Industry: The solvent-based adhesives are highly utilized in the packaging industry to form bonds in cartons, labels, films, and containers that are very strong and durable. Increasing e-commerce and demand for packaged goods are major boosters to the adhesive demands of the packaging industry. Solvent-based adhesives possess superior adhesion properties, high-strength bonding, and flexibility. They find a perfect application in food and beverage packaging, consumer goods packaging, and medical product packaging. As packaged products increase their global consumption, solvent-borne adhesives will also continue to attract high demand.
- Industrial Applications: Solvent-borne adhesives are known to have remarkable strength and durability, hence known to give good resistance to heat, moisture, and chemicals, hence commonly used in industrial applications in areas of construction, electronics, and automotive. These adhesives also impart excellent wetting and bonding; hence, they prove versatile for many types of substrates such as metals, glass, plastics, and ceramics. While much of the commercial demand is trending toward long-lasting, high-performance adhesives for increasingly complex and diverse materials, many applications remain where solvent-borne adhesives are favored.
- Specialty Applications in Electronics, Medical Devices, and Textiles: Solvent-borne adhesives are increasingly being used in specialty applications that include manufacturing in the electronics, medical appliances, and textile industries. For example, in electronics, solvent-borne adhesives are used to achieve circuit boards and displays, whereas, in medical appliances, they constitute an important component of assembling parts that need to retain integrity in severe conditions. Other trends in the market include high-performance specialty adhesives that can join unique materials and have the required properties, such as resistance to chemical exposure or extreme temperatures, for outdoor applications. The need for product innovation will thus create new market opportunities.
- Product Innovation Driving Market Growth: Solvent-borne adhesives are increasingly in niche applications, for example, in electronics, medical devices, and textiles. The use of solvent-borne adhesives in the electronics industry is for circuit boards and display applications. It is also an important component in medical device applications, specifically when components need integrity under harsh conditions. The need for specialty adhesives that can bond unique materials and meet specific performance standards is driving product innovation and opening new opportunities in markets.
- Advanced Formulations with Nanotechnology: Advanced solvent-borne adhesive formulations are another key trend that includes nanotechnology and advanced resins; the innovations in them enhance all the performance characteristics of adhesives-including higher bond strength, thermal resistance, and curing times. Manufacturers even employ hybrid adhesives, which combine the advantages of solvent-based and water-based technologies to achieve superior processability along with environmental compatibility. Technological trends in this direction make solvent-borne adhesives meet increasingly stringent demands within various industries.
- Electric Vehicles (EVs) Market: Electric vehicles represent an impressive opportunity for solvent-borne adhesives. The producers of electric vehicles take the reduction of vehicle weight to be considered thoroughly with maximum efficiency and approach this with advanced adhesive technology in bonding lightweight composites, metals, and plastics. Solvent-based adhesives are best suited for these applications because they present strong bonding power plus durability. Increased demand for solvent-borne adhesives arises from the growing electric vehicle market, besides the ever-increasing trend toward more complex, higher-performance automotive designs.
- Construction Industry: Solvent-borne adhesives are used in all construction applications, such as floor and roof, window and door assembly, and insulation. Expansion of the construction and renovation industries, particularly in emerging markets, provides greater demands on high-performance adhesives capable of withstanding aggressive environmental conditions for extended periods. The value of solvent-borne adhesives used for bonding wood, concrete, metal, and plastic in construction applications lies in their ability to bond very diverse substrates.
- Aerospace and Defense Industry: The aerospace and defense industries present a significant opportunity for solvent-borne adhesives. The adhesives used in these industries experience conditions involving very high altitudes, rapid temperature changes, interaction with chemicals, and UV radiation. Solvent-borne adhesives facilitate strength and flexibility as well as resistance in challenging applications like assembling aircraft, parts of satellites, and military equipment. As the aerospace and defense markets around the world continue to grow, so does the demand for high-performance adhesives.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Solvent Borne Adhesives 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 Solvent Borne Adhesives 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.
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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
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
The rising demand for specialty adhesives in emerging applications is expected to be the key market trend.
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
On the basis of geography, the solvent borne adhesives market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America
Henkel AG & Co KGaA, 3M Co, Sika AG, Arkema SA, H.B. Fuller Co, BASF SE, Dow Inc, Lord Corp, ITW Performance Polymers, and Kraton Polymers
The major factors driving the solvent borne adhesives market are:
1. Strong Demand in Automotive and Manufacturing Sectors.
2. Increased Use in Packaging Applications.
The Solvent Borne Adhesives Market is estimated to witness a CAGR of 4.9% 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 Solvent Borne Adhesives Market - By Resin Type
1.3.2 Solvent Borne Adhesives Market - By End-User Industry
1.3.3 Solvent Borne Adhesives Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SOLVENT BORNE ADHESIVES 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. SOLVENT BORNE ADHESIVES 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. SOLVENT BORNE ADHESIVES MARKET - GLOBAL MARKET ANALYSIS
6.1. SOLVENT BORNE ADHESIVES - GLOBAL MARKET OVERVIEW
6.2. SOLVENT BORNE ADHESIVES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SOLVENT BORNE ADHESIVES MARKET - REVENUE AND FORECASTS TO 2028 - RESIN TYPE
7.1. OVERVIEW
7.2. RESIN TYPE MARKET FORECASTS AND ANALYSIS
7.3. CHLOROPRENE RUBBER
7.3.1. Overview
7.3.2. Chloroprene Rubber Market Forecast and Analysis
7.4. POLY ACRYLATE (PA)
7.4.1. Overview
7.4.2. Poly Acrylate (PA) Market Forecast and Analysis
7.5. SBC RESIN ADHESIVES
7.5.1. Overview
7.5.2. SBC Resin Adhesives Market Forecast and Analysis
7.6. OTHER RESIN TYPES
7.6.1. Overview
7.6.2. Other Resin Types Market Forecast and Analysis
8. SOLVENT BORNE ADHESIVES MARKET - REVENUE AND FORECASTS TO 2028 - END-USER INDUSTRY
8.1. OVERVIEW
8.2. END-USER 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. PAPER
8.4.1. Overview
8.4.2. Paper Market Forecast and Analysis
8.5. BOARD
8.5.1. Overview
8.5.2. Board Market Forecast and Analysis
8.6. PACKAGING
8.6.1. Overview
8.6.2. Packaging Market Forecast and Analysis
8.7. WOODWORKING AND JOINERY
8.7.1. Overview
8.7.2. Woodworking and Joinery Market Forecast and Analysis
8.8. TRANSPORTATION
8.8.1. Overview
8.8.2. Transportation Market Forecast and Analysis
8.9. FOOTWEAR
8.9.1. Overview
8.9.2. Footwear Market Forecast and Analysis
8.10. ELECTRICAL AND ELECTRONICS
8.10.1. Overview
8.10.2. Electrical and Electronics Market Forecast and Analysis
8.11. OTHER END-USER INDUSTRIES
8.11.1. Overview
8.11.2. Other End-user Industries Market Forecast and Analysis
9. SOLVENT BORNE ADHESIVES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Solvent Borne Adhesives Market Overview
9.1.2 North America Solvent Borne Adhesives Market Forecasts and Analysis
9.1.3 North America Solvent Borne Adhesives Market Forecasts and Analysis - By Resin Type
9.1.4 North America Solvent Borne Adhesives Market Forecasts and Analysis - By End-User Industry
9.1.5 North America Solvent Borne Adhesives Market Forecasts and Analysis - By Countries
9.1.5.1 Canada Solvent Borne Adhesives Market
9.1.5.1.1 Canada Solvent Borne Adhesives Market by Resin Type
9.1.5.1.2 Canada Solvent Borne Adhesives Market by End-User Industry
9.1.5.2 Mexico Solvent Borne Adhesives Market
9.1.5.2.1 Mexico Solvent Borne Adhesives Market by Resin Type
9.1.5.2.2 Mexico Solvent Borne Adhesives Market by End-User Industry
9.1.5.3 US Solvent Borne Adhesives Market
9.1.5.3.1 US Solvent Borne Adhesives Market by Resin Type
9.1.5.3.2 US Solvent Borne Adhesives Market by End-User Industry
9.2. EUROPE
9.2.1 Europe Solvent Borne Adhesives Market Overview
9.2.2 Europe Solvent Borne Adhesives Market Forecasts and Analysis
9.2.3 Europe Solvent Borne Adhesives Market Forecasts and Analysis - By Resin Type
9.2.4 Europe Solvent Borne Adhesives Market Forecasts and Analysis - By End-User Industry
9.2.5 Europe Solvent Borne Adhesives Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Solvent Borne Adhesives Market
9.2.5.1.1 Germany Solvent Borne Adhesives Market by Resin Type
9.2.5.1.2 Germany Solvent Borne Adhesives Market by End-User Industry
9.2.5.2 France Solvent Borne Adhesives Market
9.2.5.2.1 France Solvent Borne Adhesives Market by Resin Type
9.2.5.2.2 France Solvent Borne Adhesives Market by End-User Industry
9.2.5.3 Italy Solvent Borne Adhesives Market
9.2.5.3.1 Italy Solvent Borne Adhesives Market by Resin Type
9.2.5.3.2 Italy Solvent Borne Adhesives Market by End-User Industry
9.2.5.4 United Kingdom Solvent Borne Adhesives Market
9.2.5.4.1 United Kingdom Solvent Borne Adhesives Market by Resin Type
9.2.5.4.2 United Kingdom Solvent Borne Adhesives Market by End-User Industry
9.2.5.5 Russia Solvent Borne Adhesives Market
9.2.5.5.1 Russia Solvent Borne Adhesives Market by Resin Type
9.2.5.5.2 Russia Solvent Borne Adhesives Market by End-User Industry
9.2.5.6 Rest of Europe Solvent Borne Adhesives Market
9.2.5.6.1 Rest of Europe Solvent Borne Adhesives Market by Resin Type
9.2.5.6.2 Rest of Europe Solvent Borne Adhesives Market by End-User Industry
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Solvent Borne Adhesives Market Overview
9.3.2 Asia-Pacific Solvent Borne Adhesives Market Forecasts and Analysis
9.3.3 Asia-Pacific Solvent Borne Adhesives Market Forecasts and Analysis - By Resin Type
9.3.4 Asia-Pacific Solvent Borne Adhesives Market Forecasts and Analysis - By End-User Industry
9.3.5 Asia-Pacific Solvent Borne Adhesives Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Solvent Borne Adhesives Market
9.3.5.1.1 Australia Solvent Borne Adhesives Market by Resin Type
9.3.5.1.2 Australia Solvent Borne Adhesives Market by End-User Industry
9.3.5.2 China Solvent Borne Adhesives Market
9.3.5.2.1 China Solvent Borne Adhesives Market by Resin Type
9.3.5.2.2 China Solvent Borne Adhesives Market by End-User Industry
9.3.5.3 India Solvent Borne Adhesives Market
9.3.5.3.1 India Solvent Borne Adhesives Market by Resin Type
9.3.5.3.2 India Solvent Borne Adhesives Market by End-User Industry
9.3.5.4 Japan Solvent Borne Adhesives Market
9.3.5.4.1 Japan Solvent Borne Adhesives Market by Resin Type
9.3.5.4.2 Japan Solvent Borne Adhesives Market by End-User Industry
9.3.5.5 South Korea Solvent Borne Adhesives Market
9.3.5.5.1 South Korea Solvent Borne Adhesives Market by Resin Type
9.3.5.5.2 South Korea Solvent Borne Adhesives Market by End-User Industry
9.3.5.6 Rest of Asia-Pacific Solvent Borne Adhesives Market
9.3.5.6.1 Rest of Asia-Pacific Solvent Borne Adhesives Market by Resin Type
9.3.5.6.2 Rest of Asia-Pacific Solvent Borne Adhesives Market by End-User Industry
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Solvent Borne Adhesives Market Overview
9.4.2 Middle East and Africa Solvent Borne Adhesives Market Forecasts and Analysis
9.4.3 Middle East and Africa Solvent Borne Adhesives Market Forecasts and Analysis - By Resin Type
9.4.4 Middle East and Africa Solvent Borne Adhesives Market Forecasts and Analysis - By End-User Industry
9.4.5 Middle East and Africa Solvent Borne Adhesives Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Solvent Borne Adhesives Market
9.4.5.1.1 South Africa Solvent Borne Adhesives Market by Resin Type
9.4.5.1.2 South Africa Solvent Borne Adhesives Market by End-User Industry
9.4.5.2 Saudi Arabia Solvent Borne Adhesives Market
9.4.5.2.1 Saudi Arabia Solvent Borne Adhesives Market by Resin Type
9.4.5.2.2 Saudi Arabia Solvent Borne Adhesives Market by End-User Industry
9.4.5.3 U.A.E Solvent Borne Adhesives Market
9.4.5.3.1 U.A.E Solvent Borne Adhesives Market by Resin Type
9.4.5.3.2 U.A.E Solvent Borne Adhesives Market by End-User Industry
9.4.5.4 Rest of Middle East and Africa Solvent Borne Adhesives Market
9.4.5.4.1 Rest of Middle East and Africa Solvent Borne Adhesives Market by Resin Type
9.4.5.4.2 Rest of Middle East and Africa Solvent Borne Adhesives Market by End-User Industry
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Solvent Borne Adhesives Market Overview
9.5.2 South and Central America Solvent Borne Adhesives Market Forecasts and Analysis
9.5.3 South and Central America Solvent Borne Adhesives Market Forecasts and Analysis - By Resin Type
9.5.4 South and Central America Solvent Borne Adhesives Market Forecasts and Analysis - By End-User Industry
9.5.5 South and Central America Solvent Borne Adhesives Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Solvent Borne Adhesives Market
9.5.5.1.1 Brazil Solvent Borne Adhesives Market by Resin Type
9.5.5.1.2 Brazil Solvent Borne Adhesives Market by End-User Industry
9.5.5.2 Argentina Solvent Borne Adhesives Market
9.5.5.2.1 Argentina Solvent Borne Adhesives Market by Resin Type
9.5.5.2.2 Argentina Solvent Borne Adhesives Market by End-User Industry
9.5.5.3 Rest of South and Central America Solvent Borne Adhesives Market
9.5.5.3.1 Rest of South and Central America Solvent Borne Adhesives Market by Resin Type
9.5.5.3.2 Rest of South and Central America Solvent Borne Adhesives Market by End-User 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. SOLVENT BORNE ADHESIVES MARKET, KEY COMPANY PROFILES
11.1. 3M
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. ALFA INTERNATIONAL 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. ARKEMA 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. ASHLAND 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. AVERY DENNISON CORPORATION
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. BENSON POLYMERS LTD.
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. DUPONT DE NEMOURS 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. EVERAD ADHESIVES
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. H.B. FULLER 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. HENKEL AG AND CO. KGAA.
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
1.3m
2.Alfa International Corporation
3.Arkema Group
4.Ashland Inc.
5.Avery Dennison Corporation
6.Benson Polymers Ltd.
7.Dupont De Nemours Inc.
8.Everad Adhesives
9.H.B. Fuller Company
10.Henkel Ag and Co. Kgaa.
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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