The Europe glass fiber market is expected to grow from US$ 1,812.40 million in 2020 to US$ 2,340.84 million by 2027; it is estimated to grow at a CAGR of 3.7% from 2020 to 2027.
The UK, Germany, France, and Italy are major economies in Europe. Increasing demand of fiberglass composites from the automotive industry is expected to escalate the market growth. The automotive industry uses number of materials such as iron, aluminum, plastic, steel, and glass to build cars and other vehicles. Fiberglass composite is extensively used as a substitute for aluminum and steel due to its lightweight, high tensile strength, and superior corrosion resistance. All these properties of fiberglass composite are important in automobile manufacturing. Fiberglass composites are utilized in the production of several vehicle parts, especially of sports cars, where weight is crucial. They are mainly used in front and rear bumpers, doors, hoods, and casings. They are also used in the timing belts and V-belts, where glass strings are impregnated with rubber as reinforcement. Fiberglass is also used in vehicle tire reinforcement. Fiberglass reinforced tire provides a greater resistance to damage, better stability, lower reinforcement cost, and a good overall performance in long distance driving. This material is also used in brake pads and clutches, owing to its high abrasion resistance. Fiberglass composites are utilized in the manufacturing of parts for trains and trams. Almost the entire outer body of some modern trains and buses is made of fiberglass composites. They are also used utilized in creation of interior parts. Higher strength-to-weight ratio and great fire resistance properties have made them suitable for high-speed applications. In addition, stringent regulations have been imposed on the automotive industry to reduce carbon dioxide emissions. This has encouraged the industry to introduce fuel-efficient lightweight vehicles to help reduce greenhouse gas emissions. Vehicles built using fiberglass composites deliver higher mileage and enhance fuel efficiency. Thus, the rising demand for lightweight materials, along with government initiatives to reduce the harmful gas emissions and increase fuel efficiency, is expected to drive the Europe glass fiber market in automotive applications.
In case of COVID-19, Europe is highly Affected Specially Russia which has recorded the highest number of COVID cases. Other than this, France, UK, Italy, Spain and Germany have also been hit hard and are expected to suffer an economic hit due to a lack of revenue from various industries. Other member states have implemented drastic measures and travel restrictions, including partially closing their borders. This is anticipated to impact market growth in Europe. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The European chemical and materials industry is one of the major industries that is suffering serious disruptions such as supply chain breaks, technology events cancellations, office shutdowns etc. because of this outbreak.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe glass fiber market. The Europe glass fiber market is expected to grow at a good CAGR during the forecast period.
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Europe Glass Fiber Market Segmentation
Europe Glass Fiber Market – By Fiber Type
- E/ECR-Glass Fiber
- S-Glass Fiber
- C-Glass Fiber
- Others
Europe Glass Fiber Market – By Product Type
- Single-End Roving
- Multi-End Roving
- Woven Roving
- Others
Europe Glass Fiber Market – By Application
- Marine
- Transportation
- Aerospace
- Construction
- Electrical and Electronics
- Consumer Goods
- Others
Europe Glass Fiber Market – By Manufacturing Process
- Hand Lay Up
- Spray Up
- Prepreg Lay Up
- Injection Molding
- Compression Molding
- Resin Infusion
- Others
Europe Glass Fiber Market, by Country
- Germany
- France
- Italy
- UK
- Rest of Europe
Europe Glass Fiber Market -Companies Mentioned
- China Jushi Co., Ltd.
- Chongqing Polycomp International Corp. (CPIC)
- Johns Manville
- Nippon Electric Glass Co.,Ltd.
- Owens Corning
- SAINT GOBAIN S.A.
- Taishan Fiberglass Inc. (CTG)
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Fiber Type, Product Type, Application, and Manufacturing Process
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
UK, Germany, France, Italy, Russia
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Europe Glass Fiber Market, by Fiber Type
1.3.2 Europe Glass Fiber Market, by Product Type
1.3.3 Europe Glass Fiber Market, by Application
1.3.4 Europe Glass Fiber Market, by Manufacturing Process
1.3.5 Europe Glass Fiber Market, by Country
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. Europe Glass Fiber Market Landscape
4.1 Market Overview
4.2 Europe PEST Analysis
4.3 Expert Opinions
5. Europe Glass Fiber Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Demand of Glass Fibers from Construction Industry
5.1.2 Increasing Demand of Fiberglass Composites from the Automotive Industry
5.2 Market Restraints
5.2.1 Availability of Carbon Fiber and Mineral Wool
5.3 Market Opportunities
5.3.1 Mounting Development of Advanced Glass Fibers for the Wind Energy Market
5.4 Future Trends
5.4.1 Growing Usage of Lightweight Glass Fiber Reinforced Plastic (GFRP) Composites
5.5 Impact Analysis
6. Glass Fiber Market– Europe Analysis
6.1 Europe Glass Fiber Market Overview
6.2 Europe Glass Fiber Market Forecast and Analysis
7. Europe Glass Fiber Market Analysis – By Fiber Type
7.1 Overview
7.2 Europe Glass Fiber Market Breakdown, By Fiber Type, 2019 & 2027
7.3 E/ECR-Glass Fiber
7.3.1 Overview
7.3.2 E/ECR-Glass Fiber: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
7.4 S-Glass Fiber
7.4.1 Overview
7.4.2 S-Glass Fiber: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
7.5 C-Glass Fiber
7.5.1 Overview
7.5.2 C-Glass Fiber: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
7.6 Others
7.6.1 Overview
7.6.2 Others: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
8. Europe Glass Fiber Market Analysis – By Product Type
8.1 Overview
8.2 Europe Glass Fiber Market Breakdown, By Product Type, 2019 & 2027
8.3 Single-End Roving
8.3.1 Overview
8.3.2 Single-End Roving: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
8.4 Multi-End Roving
8.4.1 Overview
8.4.2 Multi-End Roving: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
8.5 Woven Roving
8.5.1 Overview
8.5.2 Woven Roving: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
8.6 Others
8.6.1 Overview
8.6.2 Others: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
9. Europe Glass Fiber Market Analysis – By Application
9.1 Overview
9.2 Europe Glass Fiber Market Breakdown, By Application, 2019 & 2027
9.3 Marine
9.3.1 Overview
9.3.2 Marine: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
9.4 Transportation
9.4.1 Overview
9.4.2 Transportation: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
9.5 Aerospace
9.5.1 Overview
9.5.2 Aerospace: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
9.6 Construction
9.6.1 Overview
9.6.2 Construction: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
9.7 Electrical and Electronics
9.7.1 Overview
9.7.2 Electrical and Electronics: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
9.8 Consumer Goods
9.8.1 Overview
9.8.2 Consumer Goods: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
9.9 Others
9.9.1 Overview
9.9.2 Others: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
10. Europe Glass Fiber Market Analysis – By Manufacturing Process
10.1 Overview
10.2 Europe Glass Fiber Market Breakdown, By Manufacturing Process, 2019 & 2027
10.3 Hand Lay Up
10.3.1 Overview
10.3.2 Hand Lay Up: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
10.4 Spray Up
10.4.1 Overview
10.4.2 Spray Up: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
10.5 Prepreg Lay Up
10.5.1 Overview
10.5.2 Prepreg Lay Up: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
10.6 Injection Molding
10.6.1 Overview
10.6.2 Injection Molding: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
10.7 Compression Molding
10.7.1 Overview
10.7.2 Compression Molding: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
10.8 Resin Infusion
10.8.1 Overview
10.8.2 Resin Infusion: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
10.9 Others
10.9.1 Overview
10.9.2 Others: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
11. Europe Glass Fiber Market – Country Analysis
11.1 Overview
11.1.1 Europe: Glass Fiber Market, By Key Country
11.1.1.1 Germany: Glass Fiber Market – Revenue and Forecast To 2027 (US$ Mn)
11.1.1.1.1 Germany: Glass Fiber Market, By Fiber Type
11.1.1.1.2 Germany: Glass Fiber Market, By Product Type
11.1.1.1.3 Germany: Glass Fiber Market, by Application
11.1.1.1.4 Germany: Glass Fiber Market, By Manufacturing Process
11.1.1.2 France: Glass Fiber Market – Revenue and Forecast To 2027 (US$ Mn)
11.1.1.2.1 France: Glass Fiber Market, By Fiber Type
11.1.1.2.2 France: Glass Fiber Market, By Product Type
11.1.1.2.3 France: Glass Fiber Market, By Application
11.1.1.2.4 France: Glass Fiber Market, By Manufacturing Process
11.1.1.3 Italy: Glass Fiber Market – Revenue and Forecast To 2027 (US$ Mn)
11.1.1.3.1 Italy: Glass Fiber Market, By Fiber Type
11.1.1.3.2 Italy: Glass Fiber Market, By Product Type
11.1.1.3.3 Italy: Glass Fiber Market, By Application
11.1.1.3.4 Italy: Glass Fiber Market, By Manufacturing Process
11.1.1.4 UK: Glass Fiber Market – Revenue and Forecast To 2027 (US$ Mn)
11.1.1.4.1 UK: Glass Fiber Market, By Fiber Type
11.1.1.4.2 UK: Glass Fiber Market, By Product Type
11.1.1.4.3 UK: Glass Fiber Market, By Application
11.1.1.4.4 UK: Glass Fiber Market, By Manufacturing Process
11.1.1.5 Rest Of Europe: Glass Fiber Market – Revenue and Forecast To 2027 (US$ Mn)
11.1.1.5.1 Rest Of Europe: Glass Fiber Market, By Fiber Type
11.1.1.5.2 Rest Of Europe: Glass Fiber Market, By Product Type
11.1.1.5.3 Rest Of Europe: Glass Fiber Market, By Application
11.1.1.5.4 Rest Of Europe: Glass Fiber Market, By Manufacturing Process
12. Impact of COVID-19 Pandemic on Europe Glass Fiber Market
12.1 Europe: Impact Assessment of COVID-19 Pandemic
13. Industry Landscape
13.1 Product News
13.2 Mergers and Acquisitions
13.3 Strategy and Business Planning
14. Company Profiles
14.1 Chongqing Polycomp International Corp. (CPIC)
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Johns Manville
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 China Jushi Co., Ltd.
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Nippon Electric Glass Co.,Ltd.
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Owens Corning
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 SAINT GOBAIN S.A.
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Taishan Fiberglass Inc.(CTG)
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
15. Appendix
15.1 About The Insight Partners
15.2 Glossary
LIST OF TABLES
Table 1. Europe Glass Fiber Market Revenue And Forecasts To 2027 (US$ Mn)
Table 2. Germany: Glass Fiber Market, By Fiber Type –Revenue and Forecast to 2027 (US$ Mn)
Table 3. Germany: Glass Fiber Market, By Product Type –Revenue and Forecast to 2027 (US$ Mn)
Table 4. Germany: Glass Fiber Market, By Application–Revenue and Forecast to 2027 (US$ Mn)
Table 5. Germany: Glass Fiber Market, By Manufacturing Process–Revenue And Forecast to 2027 (US$ Mn)
Table 6. France: Glass Fiber Market, By Fiber Type –Revenue and Forecast to 2027 (US$ Mn)
Table 7. France: Glass Fiber Market, By Product Type –Revenue and Forecast to 2027 (US$ Mn)
Table 8. France: Glass Fiber Market, By Application–Revenue and Forecast to 2027 (US$ Mn)
Table 9. France: Glass Fiber Market, By Manufacturing Process–Revenue and Forecast to 2027 (US$ Mn)
Table 10. Italy: Glass Fiber Market, By Fiber Type –Revenue and Forecast to 2027 (US$ Mn)
Table 11. Italy: Glass Fiber Market, By Product Type –Revenue and Forecast to 2027 (US$ Mn)
Table 12. Italy: Glass Fiber Market, By Application–Revenue and Forecast to 2027 (US$ Mn)
Table 13. Italy: Glass Fiber Market, By Manufacturing Process–Revenue and Forecast to 2027 (US$ Mn)
Table 14. UK: Glass Fiber Market, By Fiber Type –Revenue and Forecast to 2027 (US$ Mn)
Table 15. UK: Glass Fiber Market, By Product Type –Revenue and Forecast to 2027 (US$ Mn)
Table 16. UK: Glass Fiber Market, By Application–Revenue and Forecast to 2027 (US$ Mn)
Table 17. UK: Glass Fiber Market, By Manufacturing Process–Revenue and Forecast to 2027 (US$ Mn)
Table 18. Rest Of Europe: Glass Fiber Market, By Fiber Type –Revenue and Forecast to 2027 (US$ Mn)
Table 19. Rest Of Europe: Glass Fiber Market, By Product Type –Revenue and Forecast to 2027 (US$ Mn)
Table 20. Rest Of Europe: Glass Fiber Market, By Application–Revenue and Forecast to 2027 (US$ Mn)
Table 21. Rest Of Europe: Glass Fiber Market, By Manufacturing Process–Revenue and Forecast to 2027 (US$ Mn)
Table 22. Glossary of terms
LIST OF FIGURES
Figure 1. Europe Glass Fiber Market Segmentation
Figure 2. Europe Glass Fiber Market Segmentation – By Country
Figure 3. Europe Glass Fiber Market Overview
Figure 4. E/ECR-Glass Fiber Segment Held Larger Share of Europe Glass Fiber Market in 2019
Figure 5. Rest of Europe Dominated the Europe Glass Fiber Market in 2019
Figure 6. PEST Analysis for Europe Glass Fiber Market
Figure 7. Impact Analysis of Drivers and Restraints
Figure 8. Europe Glass Fiber Market Forecast and Analysis, (US$ Mn)
Figure 9. Europe Glass Fiber Market Breakdown, By Fiber Type, 2019 & 2027 (%)
Figure 10. Europe E/ECR-Glass Fiber: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
Figure 11. Europe S-Glass Fiber: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
Figure 12. Europe C-Glass Fiber: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
Figure 13. Europe Others: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
Figure 14. Europe Glass Fiber Market Breakdown, By Product Type, 2019 & 2027 (%)
Figure 15. Europe Single-End Roving: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
Figure 16. Europe Multi-End Roving: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
Figure 17. Europe Woven Roving: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
Figure 18. Europe Others: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
Figure 19. Europe Glass Fiber Market Breakdown, By Application, 2019 & 2027 (%)
Figure 20. Europe Marine: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
Figure 21. Europe Transportation: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
Figure 22. Europe Aerospace: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
Figure 23. Europe Construction: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
Figure 24. Europe Electrical and Electronics: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
Figure 25. Europe Consumer Goods: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
Figure 26. Europe Others: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
Figure 27. Europe Glass Fiber Market Breakdown, By Manufacturing Process, 2019 & 2027 (%)
Figure 28. Europe Hand Lay Up: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
Figure 29. Europe Spray Up: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
Figure 30. Europe Prepreg Lay Up: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
Figure 31. Europe Injection Molding: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
Figure 32. Europe Compression Molding: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
Figure 33. Europe Resin Infusion: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
Figure 34. Europe Others: Glass Fiber Market, Revenue and Forecast To 2027 (US$ Mn)
Figure 35. Europe: Glass Fiber Market, by Key Country – Revenue (2019) (USD Million)
Figure 36. Europe: Glass Fiber Market Revenue Share, by Key Country (2019 & 2027)
Figure 37. Germany: Glass Fiber Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 38. France: Glass Fiber Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 39. Italy: Glass Fiber Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 40. UK: Glass Fiber Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 41. Rest Of Europe: Glass Fiber Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 42. Impact of COVID-19 Pandemic in Europe Country Markets
- China Jushi Co., Ltd.
- Chongqing Polycomp International Corp. (CPIC)
- Johns Manville
- Nippon Electric Glass Co.,Ltd.
- Owens Corning
- SAINT GOBAIN S.A.
- Taishan Fiberglass Inc. (CTG)
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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