The Hydrogen Storage Alloys market was valued at US$ 2,406.88 million in 2019 and is projected to reach US$ 4,535.53 million by 2028; it is expected to grow at a CAGR of 7.3% from 2020 to 2028.
Hydrogen storage alloys are classified into intermetallic compounds of several types such as AB5, AB2, AB, and A2B. Where group A elements basically consist of La, Ti, Zr, Mg, etc. and B consist of Ni, Co, Fe, Mn, etc. whose hydrides are thermodynamically stable and unstable, respectively. Among these AB5 and AB2 are the most promising and widely used hydrogen storage alloys. These alloys are metallic materials that have a unique ability to reversibly absorb and release significant amounts of hydrogen from the gas phase or electrochemically.
In 2019, North America was the largest market for hydrogen storage alloys. Rising demand of environmentally friendly technologies for the automotive industry increases exponentially, and this opens new possibilities for a novel player in the mobility sector, the hydrogen that, is propelling the hydrogen storage alloys market of the North American region. One of the major growth factors of the hydrogen storage alloys market in North America is that they are custom designed to fulfill customer applications. Moreover, many companies in US like JMC, inc., FuelCell Energy, Inc. are actively involved in designing and manufacturing hydrogen storage vessels for future and existing applications, which further boost the demand for hydrogen storage alloys over the forecast period. Increasing demand for electronic products in the region has created an attractive market for hydrogen chemicals. Therefore, technological advancements and growth in the electronic industry is projected to boost the demand for hydrogen storage alloys over the forecast period.
The ongoing pandemic has drastically altered the status of the hydrogen generation industry and have negatively impacted the growth of the hydrogen storage alloys market. The COVID-19 outbreak has distorted operational efficiency and disrupted the value chains due to the sudden closure of national and international boundaries, creating revenue loss and damage. For instance, as per a report published by Energy Industry Review, the economic crisis accompanied by the pandemic may lead to a substantial delay in the adoption and commercialization of clean hydrogen energy. This may also impact the capacity of the hydrogen sector to function smoothly as the missing link in the energy transition. The disruptive value chain has had a negative impact on raw material supply, which, in turn, is impacting the growth of the hydrogen storage alloys market. However, as the economies are planning to revive their operations, the demand for hydrogen storage alloys is expected to rise globally. Although the focus over just in time production is another concerning factor hindering market growth. With the growing focus over hydrogen-based economy in post-pandemic times, the demand for hydrogen storage alloys is expected to take huge leaps due to expanding application bases. Further, positive measures undertaken by government along with distributed generations and incorporation of advanced technology is, yet, another factor expected to bolster market growth.
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Hydrogen Storage Alloys Market: Strategic Insights
Market Size Value in US$ 2,406.88 Million in 2019 Market Size Value by US$ 4,535.53 Million by 2028 Growth rate CAGR of 7.3% from 2020-2028 Forecast Period 2020-2028 Base Year 2020
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Hydrogen Storage Alloys Market: Strategic Insights
| Market Size Value in | US$ 2,406.88 Million in 2019 |
| Market Size Value by | US$ 4,535.53 Million by 2028 |
| Growth rate | CAGR of 7.3% from 2020-2028 |
| Forecast Period | 2020-2028 |
| Base Year | 2020 |
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Market Insights
Growing Surge in Hydrogen Generation and Storage Systems
Hydrogen is considered as one of the significant elements and is abundantly available in gaseous state. The potential use of hydrogen as vital source of energy has drawn significant attention in recent years in various application According to Fuel Cell & Hydrogen Energy Association, the rising focus towards substituting renewables with different dispatchable energy sources has substantially driven the demand for hydrogen generation and storage. As per the association, hydrogen energy storage is technique of storing surplus energy, generated by renewables, so that it can be used for various purposes such as fuel for piston engines or gas turbines and others. As per International Energy Agency, hydrogen generated with the help of electrolysis mechanism holds great futuristic opportunities great promise as an economic fuel choice and predicts that such hydrogen created from wind sources would be comparatively be cost-efficient and cheaper than natural gas by 2030. Therefore, the demand for hydrogen generation and storage, potentially in underground caverns for large-scale energy storage or steel containers in smaller scale storage, is expected to rise. The growing focus over hydrogen as potential renewable energy source along with expanding demand for hydrogen energy storage is expected to stimulate the demand for hydrogen storage alloys in global market. Correspondingly, several techniques have been significantly used to store hydrogen, including hydrogen storage alloys, high-pressure hydrogen gas storage, liquid hydrogen storage, and others at hydrogen refueling stations.
Type Insights
Based on type, the hydrogen storage alloys market is segmented into AB5 and AB2. The AB5 segment led the hydrogen storage alloys market with the highest market share in 2019. The AB5-type hydrogen storage alloy Mm (Ni, Mn, Co, Al)5 is one of an alloy series which are being extensively used now. The alloy of composition MmNi3.55Mn0.4Al0.3Co0.75 was shown to meet the minimum requirements for a practical battery with respect to cost, cycle life and storage capacity. AB5 alloys combine a hydride forming metal A, usually a rare earth metal (La, Ce, Nd, Pr, Y or their mixture known as Mischmetal), with a non-hydride forming element that is nickel. The latter can be doped with other metals, such as Co, Sn or Al, to improve materials stability or to adjust equilibrium hydrogen pressure and temperature required for its charging discharging with hydrogen. This, in turn, is anticipated to drive the growth of the market during the forecast period.
Application Insights
Based on application, the hydrogen storage alloys market is segmented into rechargeable batteries, cooling devices, fuel cells, and others. Rechargeable batteries are one of the most important technologies for the new-energy vehicles. Among them, nickel metal hydride (Ni-MH) batteries have been early and widely used in the HEV owing to their high-power capability, tolerance to overcharge or discharge, environment compatibility and safety. The main advantage of the battery is that, it keeps both the alkaline electrolyte and the positive nickel hydroxide cathode developed for NiCad batteries, one produces a striking gain in volume energy (from 120 Wh.L-1 for Ni-Cad to 240 Wh.L-1 for Ni-MH). Moreover, the alternative to cadmium, toxic to the environment, was also a significant benefit. Finally, the charge-discharge electrochemical reactions of the Ni-MH battery do not involve water so that the water content remains constant in the cell over the whole cycle, unlike those 12 involved in Ni-Cad batteries. Moreover, the binary compound is not suitable as an anode in open batteries since its hydride (LaNi5H6) will decompose spontaneously under normal conditions of pressure and temperature.
Key market players include JMC, Merck KGaA, Ajax Tocco Magnethermic Corporation, Baotou Santoku Battery Materials Co., Ltd., Santoku Corporation, American Elements, AMG Titanium Alloys & Coatings LLC , Jiangmen Kanhoo Industry Co., Ltd, Xiamen Tungsten Co., Ltd. Major players in the hydrogen storage alloys market are focused on strategies such as mergers and acquisitions and product launch to increase the geographical presence and consumer base globally.
Report Spotlights
- Progressive industry trends in the global Hydrogen Storage Alloys market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the global Hydrogen Storage Alloys market from 2017 to 2027
- Estimation of the demand for Hydrogen Storage Alloys across various industries
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
- Recent developments to understand the competitive market scenario and the demand for Hydrogen Storage Alloys
- Market trends and outlook coupled with factors driving and restraining the growth of the Hydrogen Storage Alloys market
- Decision-making process by understanding strategies that underpin commercial interest with regard to global Hydrogen Storage Alloys market growth
- Hydrogen Storage Alloys market size at various nodes of market
- Detailed overview and segmentation of the global Hydrogen Storage Alloys market as well as its dynamics in the industry.
- Hydrogen Storage Alloys market size in various regions with promising growth opportunities
Hydrogen Storage Alloys Market Report Scope
Global Hydrogen Storage Alloys Market, by Type
- AB5
- AB2
Global Hydrogen Storage Alloys Market, by Application
- Rechargeable Batteries
- Cooling Devices
- Fuel Cells
- Others
Company Profiles
- JMC
- Merck KGaA
- Ajax Tocco Magnethermic Corporation
- Baotou Santoku Battery Materials Co. Ltd.
- Santoku Corporation
- American Elements
- AMG Titanium Alloys & Coatings LLC
- Jiangmen Kanhoo Industry Co. Ltd
- Xiamen Tungsten Co. Ltd
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type ; Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
The rechargeable batteries segment held the largest share in the global hydrogen storage alloys market in 2019. Hydrogen storage alloys such as AB2 and AB5 are widely used in rechargeable batteries such as NiMH batteries, lithium-ion based batteries and metal-air batteries. Though the market for these batteries is currently at a mature stage and its technology offers limited scope for innovation they are vital component of the power source in consumer appliances and industrial applications. For instance, NiMH batteries installed in several gadgets such as toys, cameras electronics, other electronics and hybrid vehicles, and electric cars. Similarly, lithium-ion battery finds its major application in laptops, PDAs, cell phones, and iPods. Enhanced chemical and mechanical stability of hydrogen storage alloys make them a popular choice for these batteries. Thus, the rapid growth of the electrical and electronic sector acts as a major driver for the growth of the rechargeable batteries which eventually supports the growth of hydrogen storage alloys
The major players operating in the global hydrogen storage alloys market are JMC, Merck KGaA, Ajax Tocco Magnethermic Corporation, Baotou Santoku Battery Materials Co., Ltd., Santoku Corporation, American Elements, Hunan Corun New Energy Co., Ltd, Jiangmen Kanhoo Industry Co., Ltd, Xiamen Tungsten Co., Ltd. among many others.
In 2019, APAC contributed to the largest share in the global hydrogen storage alloys market. The growth of the hydrogen storage alloys market in this region is primarily attributed to the development of new applications such as hydrogen powered fuel cells for transportation. Escalating demand for clean energy generation has increased use of fuel cell-based vehicles which is driving the market for hydrogen storage alloys in the region. In addition, hydrogen storage alloys find vast applications in electronics devices such as smartphones, laptops, PDAs and other consumer electronics. Surge in demand for consumer electronics in developing countries such as India and China is expected to support the growth of hydrogen storage alloys market. Hydrogen storage technology has its wide application in chemicals, metal working, general industrial, transportation, stationary power, portable power, and transportation. Hydrogen storage alloys are used in fuel cell, cooling devices, rechargeable batteries and other components such as sensors, activators, purification, heat pumps. They are also used in devices used for isotope separation, thermal storage, and refrigeration. Thus, the growing demand of hydrogen storage alloys for non-electro chemical applications is projected to boost the demand for hydrogen storage alloys over the forecast period. Increasing focus on research & development (R&D) for the development of hydrogen storage technology and increasing adoption of technological advancements and growth in automotive and electronics industry in the APAC region offer lucrative business opportunities for hydrogen storage alloys.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Hydrogen Storage Alloys Market, by Type
1.3.2 Hydrogen Storage Alloys Market, by Application
1.3.3 Hydrogen Storage Alloys Market, by Geography
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 Region/Country Level Data:
4. Hydrogen Storage Alloys Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Expert Opinion
5. Hydrogen Storage Alloys Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Surge in Hydrogen Generation and Storage Systems
5.1.2 Rising Demand for Hydrogen Storage Alloys for Electrochemical Applications
5.2 Market Restraints
5.2.1 High Cost and Complex Nature associated with Hydrogen Energy Storage Systems
5.3 Market Opportunities
5.3.1 Rapid Commercialization and Adoption of A2B7-type Alloy for Hydrogen Storage
5.4 Future Trends
5.4.1 Growing Demand of Hydrogen Storage Alloys In Non-Electrochemical Applications
5.5 Impact Analysis of Drivers and Restraints
6. Hydrogen Storage Alloys – Global Market Analysis
6.1 Hydrogen Storage Alloys Market Overview
6.2 Hydrogen Storage Alloys Market –Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning – Global Hydrogen Storage Alloys Market Players
7. Hydrogen Storage Alloys Market Analysis – By Type
7.1 Overview
7.2 Hydrogen Storage Alloys Market, By Type (2019 and 2028)
7.3 AB5
7.3.1 Overview
7.3.2 Type: Hydrogen Storage Alloys Market – Revenue, and Forecast to 2028 (US$ Million)
7.4 AB2
7.4.1 Overview
7.4.2 AB2: Hydrogen Storage Alloys Market – Revenue, and Forecast to 2028 (US$ Million)
8. Hydrogen Storage Alloys Market Analysis – By Application
8.1 Overview
8.2 Hydrogen Storage Alloys Market, By Application (2019 and 2028)
8.3 Rechargeable Batteries
8.3.1 Overview
8.3.2 Rechargeable Batteries: Hydrogen Storage Alloys Market – Revenue, and Forecast to 2028 (US$ Million)
8.4 Cooling Devices
8.4.1 Overview
8.4.2 Cooling Devices: Hydrogen Storage Alloys Market – Revenue, and Forecast to 2028 (US$ Million)
8.5 Fuel Cells
8.5.1 Overview
8.5.2 Fuel Cells: Hydrogen Storage Alloys Market – Revenue, and Forecast to 2028 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Hydrogen Storage Alloys Market – Revenue, and Forecast to 2028 (US$ Million)
9. Hydrogen Storage Alloys Market – Geographic Analysis
9.1 Overview
9.2 North America: Hydrogen Storage Alloys Market
9.2.1 North America: Hydrogen Storage Alloys Market –Revenue and Forecast to 2028(US$ Million)
9.2.2 North America: Hydrogen Storage Alloys Market, Type
9.2.3 North America: Hydrogen Storage Alloys Market, Application
9.3 Europe: Hydrogen Storage Alloys Market
9.3.1 Europe: Hydrogen Storage Alloys Market –Revenue and Forecast to 2028(US$ Million)
9.3.2 Europe: Hydrogen Storage Alloys Market, Type
9.3.3 Europe: Hydrogen Storage Alloys Market, Application
9.4 Asia Pacific: Hydrogen Storage Alloys Market
9.4.1 Asia Pacific: Hydrogen Storage Alloys Market – Revenue and Forecast to 2028(US$ Million)
9.4.2 Asia Pacific: Hydrogen Storage Alloys Market, Type
9.4.3 Asia Pacific: Hydrogen Storage Alloys Market, Application
9.5 MEA: Hydrogen Storage Alloys Market
9.5.1 MEA: Hydrogen Storage Alloys Market – Revenue and Forecast to 2028(US$ Million)
9.5.2 MEA: Hydrogen Storage Alloys Market, Type
9.5.3 MEA: Hydrogen Storage Alloys Market, Application
9.6 South America: Hydrogen Storage Alloys Market
9.6.1 South: Hydrogen Storage Alloys Market –Revenue and Forecast to 2028(US$ Million)
9.6.2 South America: Hydrogen Storage Alloys Market, by Type
9.6.3 South America: Hydrogen Storage Alloys Market, by Application
10. Impact COVID-19 Pandemic on Global Hydrogen Storage Alloys Market
10.1 Impact of COVID-19 on Hydrogen Storage Alloys Market
10.2 North America: Impact Assessment of COVID-19 Pandemic
10.3 Europe: Impact Assessment of COVID-19 Pandemic
10.4 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
10.5 Middle East & Africa: Impact Assessment of COVID-19 Pandemic
10.6 South America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Mergers & acquisition
11.2 Business Planning and Strategy
11.3 Joint Venture and Partnership
12. Company Profiles for Hydrogen Storage market
12.1 Japan Metals & Chemicals Co., Ltd.)
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 Merck KGaA
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 Ajax Tocco Magnethermic Corporation
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 Baotou Santoku Battery Materials Co. Ltd.
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 Santoku Corporation
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 American Elements
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 AMG Titanium Alloys & Coatings LLC
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 Jiangmen Kanhoo Industry Co. Ltd
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 Xiamen Tungsten Co. Ltd
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
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. Hydrogen Storage Alloys Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. North America Hydrogen Storage Alloys Market, Type– Revenue and Forecast to 2027 (US$ Million)
Table 3. North America Hydrogen Storage Alloys Market, Application– Revenue and Forecast to 2028 (US$ Million)
Table 4. Europe Hydrogen Storage Alloys Market, Type – Revenue and Forecast to 2028 (US$ Million)
Table 5. Europe Hydrogen Storage Alloys Market, Application – Revenue and Forecast to 2028 (US$ Million)
Table 6. Asia Pacific Hydrogen Storage Alloys Market, Type – Revenue and Forecast to 2028 (US$ Million)
Table 7. Asia Pacific Hydrogen Storage Alloys Market, Application – Revenue and Forecast to 2028 (US$ Million)
Table 8. MEA Hydrogen Storage Alloys Market, Type – Revenue and Forecast to 2028 (US$ Million)
Table 9. MEA Hydrogen Storage Alloys Market, Application – Revenue and Forecast to 2028 (US$ Million)
Table 10. South America Hydrogen Storage Alloys Market, by Type– Revenue and Forecast to 2028 (US$ Million)
Table 11. South America Hydrogen Storage Alloys Market, by Application– Revenue and Forecast to 2028 (US$ Million)
Table 12. Glossary of Terms, Global Hydrogen Storage Alloys Market
LIST OF FIGURES
Figure 1. Hydrogen Storage Alloys Market Segmentation
Figure 2. Hydrogen Storage Alloys Market Segmentation – By Geography
Figure 3. Global Hydrogen Storage Alloys Market Overview
Figure 4. Rechargeable Batteries Segment Held Largest Share of Global Hydrogen Storage Alloys Market
Figure 5. APAC Region Held Largest Share of Global Hydrogen Storage Alloys Market
Figure 7. North America: PEST Analysis
Figure 8. Europe: PEST Analysis
Figure 9. APAC: PEST Analysis
Figure 10. MEA: PEST Analysis
Figure 11. SAM: PEST Analysis
Figure 12. Expert Opinion
Figure 13. Hydrogen storage alloys Market Impact Analysis of Driver and Restraints
Figure 14. Geographic Overview of Hydrogen Storage Alloys Market
Figure 15. Hydrogen Storage Alloys Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Hydrogen Storage Alloys Market Revenue Share, by Type (2019 and 2028)
Figure 17. Type: Hydrogen Storage Alloys Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 18. AB2: Hydrogen Storage Alloys Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 19. Hydrogen Storage Alloys Market Revenue Share, by Application (2019 and 2028)
Figure 20. Rechargeable batteries: Hydrogen Storage Alloys Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 21. Cooling Devices: Hydrogen Storage Alloys Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 22. Fuel Cells: Hydrogen Storage Alloys Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 23. Others: Hydrogen Storage Alloys Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 24. Global Hydrogen Storage Alloys Market Revenue Share, by Region (2019 and 2028)
Figure 25. North America: Hydrogen Storage Alloys Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. North America: Hydrogen Storage Alloys Market Revenue Share, Type (2019 and 2028)
Figure 27. North America: Hydrogen Storage Alloys Market Revenue Share, Application (2019 and 2028)
Figure 28. Europe: Hydrogen Storage Alloys Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Europe: Hydrogen Storage Alloys Market Revenue Share, Type (2019 and 2028)
Figure 30. Europe: Hydrogen Storage Alloys Market Revenue Share, Application (2019 and 2028)
Figure 31. Asia Pacific: Hydrogen Storage Alloys Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Asia Pacific: Hydrogen Storage Alloys Market Revenue Share, Type (2019 and 2028)
Figure 33. Asia Pacific: Hydrogen Storage Alloys Market Revenue Share, Application (2019 and 2028)
Figure 34. MEA: Hydrogen Storage Alloys Market – Revenue and Forecast to 2028 (US$ Million)
Figure 35. MEA: Hydrogen Storage Alloys Market Revenue Share, Type (2019 and 2028)
Figure 36. MEA: Hydrogen Storage Alloys Market Revenue Share, Application (2019 and 2028)
Figure 37. South America: Hydrogen Storage Alloys Market – Revenue and Forecast to 2028 (US$ Million)
Figure 38. South America: Hydrogen Storage Alloys Market Revenue Share, by Type (2019 and 2028)
Figure 39. South America: Hydrogen Storage Alloys Market Revenue Share, by Application (2019 and 2028)
Figure 40. Impact of COVID-19 Pandemic in North American Country Markets
Figure 41. Impact of COVID-19 Pandemic in Europe Country Markets
Figure 42. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
Figure 43. Impact of COVID-19 Pandemic in Middle East & Africa Country Markets
Figure 44. Impact of COVID-19 Pandemic in South America Country Markets
The List of companies - Global Hydrogen Storage Alloys Market
- JMC (Japan Metals & Chemicals Co., Ltd.)
- Merck KGaA
- Ajax Tocco Magnethermic Corporation
- Baotou Santoku Battery Materials Co. Ltd.
- Santoku Corporation
- American Elements
- AMG Titanium Alloys & Coatings LLC
- Jiangmen Kanhoo Industry Co. Ltd
- Xiamen Tungsten Co. Ltd
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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Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Carbon Fiber, Titanium Fiber, and Others), Application [Battery, Fuel Cell Gas Diffusion Layer (GDL), PTL, and Wind Energy], and Geography
Apr 2021
Antimicrobial Coating Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Material (Silver, Copper, Titanium Dioxide, and Others), Application (Healthcare, HVAC, Mold Remediation, Building and Construction, Food and Beverages, and Others), and Geography
Apr 2021
Hot Melt Adhesives Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product Type (Glue Sticks, Glue Slugs, and Others), Type (Ethylene Vinyl Acetate, Polyolefins, Polyamides, Polyurethanes, Styrene Block Copolymers, and Others), Application (Packaging, Construction, Automotive, Furniture, Footwear, Electronics, and Others), and Geography
Apr 2021
Lubricants Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Base Oil (Mineral Oil, Synthetic Oil, and Bio-based Oil), Type (Hydraulic Fluid, Engine Oil, Driveline Lubricants, Metalworking Fluids, Grease, Process Oils, Coolants, and Others), End-Use Industry [Automotive (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, and Others), Building and Construction, Power Generation, Mining and Metallurgy, Food Processing, Oil and Gas, Marine, Aviation, and Others], and Geography
Apr 2021
Cosmetic Preservatives Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Source (Natural and Synthetic), Product Type (Parabens, Formaldehyde Releasers, Organic Acids, Quaternary Compounds, Phenol Derivatives, Alcohols, and Others), Application (Hair Care, Skin Care, Makeup Products, Toiletries, Perfumes and Deodorants, and Others), and Geography
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