Advanced Materials
Advanced Materials Market Forecasts to 2030 - Global Analysis By Product Type (Metal & Alloys, Glasses, Composites, Ceramics, Composites, Polymers and Other Product Types), Form, Application and By Geography
According to Stratistics MRC, the Global Advanced Materials Market is accounted for $66.3 billion in 2023 and is expected to reach $115.1 billion by 2030 growing at a CAGR of 8.2% during the forecast period. Advanced materials refer to substances engineered with superior properties and performance characteristics, surpassing conventional materials. These innovations often result from cutting-edge technologies and scientific advancements, enabling enhanced functionality, durability, and efficiency. The development of advanced materials plays a pivotal role in revolutionizing various industries, offering solutions to complex challenges and paving the way for unprecedented advancements in technology and manufacturing processes.
According to IEA, Norway, the Netherlands and Japan are frontrunners in the electronic vehicles segment. Norway held the share of 46 percent in terms of the global new electric car sales as reported by IEA in 2018.
Market Dynamics:
Driver:
Growing demand for electric vehicles
The burgeoning demand for electric vehicles (EVs) is propelling advancements in materials technology. Innovations in advanced materials are pivotal to enhancing the performance and efficiency of EV components, such as batteries and lightweight structures. High-capacity and fast-charging batteries, alongside lightweight yet durable materials, are imperative for extending the range and improving overall energy efficiency in electric vehicles. This surge in demand for EVs is fostering research and development in advanced materials, driving a transformative shift in the automotive industry.
Restraint:
Limited availability of raw materials
The field of advanced materials faces challenges due to the limited availability of crucial raw materials. The development of cutting-edge technologies, such as advanced composites, electronic components, and nanomaterials, relies heavily on rare and strategic elements. As demand increases, concerns about the sustainable sourcing of these materials grow. This limitation underscores the importance of exploring alternative materials, recycling methods, and sustainable practices to ensure the continued progress and viability of Advanced Materials in various industries.
Opportunity:
Rising regulatory compliances
Governments worldwide are implementing more rigorous frameworks to ensure responsible manufacturing practices, waste management, and sustainable resource utilization. Companies in the advanced materials industry must navigate evolving regulations to meet heightened expectations, promoting innovation while prioritizing ethical and environmentally conscious production methods. The advanced materials sector faces escalating regulatory compliances pertaining to production, necessitating stringent adherence to safety, environmental, and quality standards.
Threat:
High prices of advanced materials
The high prices of advanced materials pose a significant challenge to widespread adoption in various industries. Cutting-edge materials, characterized by superior properties and functionalities, often involve complex manufacturing processes and require specialized technologies. Efforts to address cost-related issues are crucial for facilitating broader accessibility and utilization of advanced materials in diverse sectors. These factors contribute to elevated production costs, resulting in higher market prices.
Covid-19 Impact:
The COVID-19 pandemic has significantly influenced the advanced materials sector. Disruptions in global supply chains, workforce shortages, and economic uncertainties have impacted research and development activities. Despite challenges, the pandemic has accelerated innovation in materials used for medical devices, personal protective equipment, and antiviral coatings. The increased focus on health and safety has spurred advancements in nanotechnology and smart materials, driving the industry towards more resilient and sustainable solutions. The crisis has highlighted the importance of adaptability and collaboration, prompting the advanced materials sector to contribute to pandemic response efforts through creative solutions.
The ceramics segment is expected to be the largest during the forecast period
The ceramics segment is expected to be the largest during the forecast period. Engineered ceramics exhibit exceptional hardness, heat resistance, and electrical insulation, making them indispensable in high-tech applications. Their versatility extends to electronics, where they serve as insulators and capacitors. Additionally, ceramics find application in environmental technologies, such as catalytic converters. As a cornerstone of advanced materials, ceramics continue to push the boundaries of innovation across diverse industries.
The powder segment is expected to have the highest CAGR during the forecast period
The powder segment is expected to have the highest CAGR during the forecast period. Powder metallurgy is a pivotal technique in advanced materials, involving the production of components from powdered metal through various processes such as blending, compacting, and sintering. This method allows for precise control over composition, microstructure, and mechanical properties, yielding materials with enhanced performance and tailored characteristics. Powder-based advancements extend beyond metals, encompassing ceramics and composites, fostering innovation in industries like aerospace, automotive, and electronics.
Region with largest share:
North America is projected to hold the largest market share during the forecast period. With a robust infrastructure for scientific exploration, the region excels in developing cutting-edge materials like graphene, carbon nanotubes, and advanced polymers. These materials find applications in aerospace, electronics, healthcare, and energy sectors, driving technological advancements. Collaborative efforts between academia, industry, and research institutions further propel leadership in the field, positioning the region as a key player in shaping the future of advanced materials on a global scale.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period. From graphene-based innovations to metamaterials and nanocomposites, the region's scientific community is driving breakthroughs with vast implications. Countries are leading the charge, investing heavily in the exploration of advanced materials for applications. The collaborative efforts and strategic initiatives in the region are shaping the future landscape of materials technology, propelling the region into a global hub for innovation.
Key players in the market
Some of the key players in Advanced Materials market include Hexcel Corporation, Toray Industries, Inc., 3M Company, DowDuPont, Covestro AG, Teijin Limited, BASF SE, Dow Inc. , Saint-Gobain S.A., Solvay S.A., Mitsubishi Chemical Holdings Corporation, Arkema S.A., Sumitomo Chemical Company, Evonik Industries AG , Linde plc, Lanxess AG, Huntsman Corporation and Nippon Electric Glass Co., Ltd.
Key Developments:
In Jan 2024, Arkema, a leader in specialty materials, announced that it intends to improve electric vehicle (EV) battery safety with the launch of the first-of-its-kind Foranext® Gaseous Thermal Barrier (GTB) line. This new GTB material is engineered to prevent battery thermal runaway propagation at the origin of battery fires.
In October 2023, Arkema collaborated with industry leaders including EOS, HP and Stratasys, to continue offering customers more sustainable, high-performance materials for additive manufacturing. This is particularly true of its bio-sourced Rilsan® Polyamide 11, for which the Group recently announced a further reduction in the carbon footprint of all its grades globally.
Product Types Covered:
• Metal & Alloys
• Glasses
• Composites
• Ceramics
• Composites
• Polymers
• Other Product Types
Forms Covered:
• Film
• Bulk
• Fibers
• Powder
• Gels
• Other Forms
Applications Covered:
• Aerospace
• Electricals & Electronics
• Industrial
• Automotive
• Power
• Medical Devices
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Advanced Materials Market, By Product Type
5.1 Introduction
5.2 Metal & Alloys
5.3 Glasses
5.4 Composites
5.5 Ceramics
5.6 Composites
5.7 Polymers
5.8 Other Product Types
6 Global Advanced Materials Market, By Form
6.1 Introduction
6.2 Film
6.3 Bulk
6.4 Fibers
6.5 Powder
6.6 Gels
6.7 Other Forms
7 Global Advanced Materials Market, By Application
7.1 Introduction
7.2 Aerospace
7.3 Electricals & Electronics
7.4 Industrial
7.5 Automotive
7.6 Power
7.7 Medical Devices
7.8 Other Applications
8 Global Advanced Materials Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Hexcel Corporation
10.2 Toray Industries, Inc.
10.3 3M Company
10.4 DowDuPont
10.5 Covestro AG
10.6 Teijin Limited
10.7 BASF SE
10.8 Dow Inc.
10.9 Saint-Gobain S.A.
10.10 Solvay S.A.
10.11 Mitsubishi Chemical Holdings Corporation
10.12 Arkema S.A.
10.13 Sumitomo Chemical Company
10.14 Evonik Industries AG
10.15 Linde plc
10.16 Lanxess AG
10.17 Huntsman Corporation
10.18 Nippon Electric Glass Co., Ltd.
List of Tables
1 Global Advanced Materials Market Outlook, By Region (2021-2030) ($MN)
2 Global Advanced Materials Market Outlook, By Product Type (2021-2030) ($MN)
3 Global Advanced Materials Market Outlook, By Metal & Alloys (2021-2030) ($MN)
4 Global Advanced Materials Market Outlook, By Glasses (2021-2030) ($MN)
5 Global Advanced Materials Market Outlook, By Composites (2021-2030) ($MN)
6 Global Advanced Materials Market Outlook, By Ceramics (2021-2030) ($MN)
7 Global Advanced Materials Market Outlook, By Composites (2021-2030) ($MN)
8 Global Advanced Materials Market Outlook, By Polymers (2021-2030) ($MN)
9 Global Advanced Materials Market Outlook, By Other Product Types (2021-2030) ($MN)
10 Global Advanced Materials Market Outlook, By Form (2021-2030) ($MN)
11 Global Advanced Materials Market Outlook, By Film (2021-2030) ($MN)
12 Global Advanced Materials Market Outlook, By Bulk (2021-2030) ($MN)
13 Global Advanced Materials Market Outlook, By Fibers (2021-2030) ($MN)
14 Global Advanced Materials Market Outlook, By Powder (2021-2030) ($MN)
15 Global Advanced Materials Market Outlook, By Gels (2021-2030) ($MN)
16 Global Advanced Materials Market Outlook, By Other Forms (2021-2030) ($MN)
17 Global Advanced Materials Market Outlook, By Application (2021-2030) ($MN)
18 Global Advanced Materials Market Outlook, By Aerospace (2021-2030) ($MN)
19 Global Advanced Materials Market Outlook, By Electricals & Electronics (2021-2030) ($MN)
20 Global Advanced Materials Market Outlook, By Industrial (2021-2030) ($MN)
21 Global Advanced Materials Market Outlook, By Automotive (2021-2030) ($MN)
22 Global Advanced Materials Market Outlook, By Power (2021-2030) ($MN)
23 Global Advanced Materials Market Outlook, By Medical Devices (2021-2030) ($MN)
24 Global Advanced Materials Market Outlook, By Other Applications (2021-2030) ($MN)
25 North America Advanced Materials Market Outlook, By Country (2021-2030) ($MN)
26 North America Advanced Materials Market Outlook, By Product Type (2021-2030) ($MN)
27 North America Advanced Materials Market Outlook, By Metal & Alloys (2021-2030) ($MN)
28 North America Advanced Materials Market Outlook, By Glasses (2021-2030) ($MN)
29 North America Advanced Materials Market Outlook, By Composites (2021-2030) ($MN)
30 North America Advanced Materials Market Outlook, By Ceramics (2021-2030) ($MN)
31 North America Advanced Materials Market Outlook, By Composites (2021-2030) ($MN)
32 North America Advanced Materials Market Outlook, By Polymers (2021-2030) ($MN)
33 North America Advanced Materials Market Outlook, By Other Product Types (2021-2030) ($MN)
34 North America Advanced Materials Market Outlook, By Form (2021-2030) ($MN)
35 North America Advanced Materials Market Outlook, By Film (2021-2030) ($MN)
36 North America Advanced Materials Market Outlook, By Bulk (2021-2030) ($MN)
37 North America Advanced Materials Market Outlook, By Fibers (2021-2030) ($MN)
38 North America Advanced Materials Market Outlook, By Powder (2021-2030) ($MN)
39 North America Advanced Materials Market Outlook, By Gels (2021-2030) ($MN)
40 North America Advanced Materials Market Outlook, By Other Forms (2021-2030) ($MN)
41 North America Advanced Materials Market Outlook, By Application (2021-2030) ($MN)
42 North America Advanced Materials Market Outlook, By Aerospace (2021-2030) ($MN)
43 North America Advanced Materials Market Outlook, By Electricals & Electronics (2021-2030) ($MN)
44 North America Advanced Materials Market Outlook, By Industrial (2021-2030) ($MN)
45 North America Advanced Materials Market Outlook, By Automotive (2021-2030) ($MN)
46 North America Advanced Materials Market Outlook, By Power (2021-2030) ($MN)
47 North America Advanced Materials Market Outlook, By Medical Devices (2021-2030) ($MN)
48 North America Advanced Materials Market Outlook, By Other Applications (2021-2030) ($MN)
49 Europe Advanced Materials Market Outlook, By Country (2021-2030) ($MN)
50 Europe Advanced Materials Market Outlook, By Product Type (2021-2030) ($MN)
51 Europe Advanced Materials Market Outlook, By Metal & Alloys (2021-2030) ($MN)
52 Europe Advanced Materials Market Outlook, By Glasses (2021-2030) ($MN)
53 Europe Advanced Materials Market Outlook, By Composites (2021-2030) ($MN)
54 Europe Advanced Materials Market Outlook, By Ceramics (2021-2030) ($MN)
55 Europe Advanced Materials Market Outlook, By Composites (2021-2030) ($MN)
56 Europe Advanced Materials Market Outlook, By Polymers (2021-2030) ($MN)
57 Europe Advanced Materials Market Outlook, By Other Product Types (2021-2030) ($MN)
58 Europe Advanced Materials Market Outlook, By Form (2021-2030) ($MN)
59 Europe Advanced Materials Market Outlook, By Film (2021-2030) ($MN)
60 Europe Advanced Materials Market Outlook, By Bulk (2021-2030) ($MN)
61 Europe Advanced Materials Market Outlook, By Fibers (2021-2030) ($MN)
62 Europe Advanced Materials Market Outlook, By Powder (2021-2030) ($MN)
63 Europe Advanced Materials Market Outlook, By Gels (2021-2030) ($MN)
64 Europe Advanced Materials Market Outlook, By Other Forms (2021-2030) ($MN)
65 Europe Advanced Materials Market Outlook, By Application (2021-2030) ($MN)
66 Europe Advanced Materials Market Outlook, By Aerospace (2021-2030) ($MN)
67 Europe Advanced Materials Market Outlook, By Electricals & Electronics (2021-2030) ($MN)
68 Europe Advanced Materials Market Outlook, By Industrial (2021-2030) ($MN)
69 Europe Advanced Materials Market Outlook, By Automotive (2021-2030) ($MN)
70 Europe Advanced Materials Market Outlook, By Power (2021-2030) ($MN)
71 Europe Advanced Materials Market Outlook, By Medical Devices (2021-2030) ($MN)
72 Europe Advanced Materials Market Outlook, By Other Applications (2021-2030) ($MN)
73 Asia Pacific Advanced Materials Market Outlook, By Country (2021-2030) ($MN)
74 Asia Pacific Advanced Materials Market Outlook, By Product Type (2021-2030) ($MN)
75 Asia Pacific Advanced Materials Market Outlook, By Metal & Alloys (2021-2030) ($MN)
76 Asia Pacific Advanced Materials Market Outlook, By Glasses (2021-2030) ($MN)
77 Asia Pacific Advanced Materials Market Outlook, By Composites (2021-2030) ($MN)
78 Asia Pacific Advanced Materials Market Outlook, By Ceramics (2021-2030) ($MN)
79 Asia Pacific Advanced Materials Market Outlook, By Composites (2021-2030) ($MN)
80 Asia Pacific Advanced Materials Market Outlook, By Polymers (2021-2030) ($MN)
81 Asia Pacific Advanced Materials Market Outlook, By Other Product Types (2021-2030) ($MN)
82 Asia Pacific Advanced Materials Market Outlook, By Form (2021-2030) ($MN)
83 Asia Pacific Advanced Materials Market Outlook, By Film (2021-2030) ($MN)
84 Asia Pacific Advanced Materials Market Outlook, By Bulk (2021-2030) ($MN)
85 Asia Pacific Advanced Materials Market Outlook, By Fibers (2021-2030) ($MN)
86 Asia Pacific Advanced Materials Market Outlook, By Powder (2021-2030) ($MN)
87 Asia Pacific Advanced Materials Market Outlook, By Gels (2021-2030) ($MN)
88 Asia Pacific Advanced Materials Market Outlook, By Other Forms (2021-2030) ($MN)
89 Asia Pacific Advanced Materials Market Outlook, By Application (2021-2030) ($MN)
90 Asia Pacific Advanced Materials Market Outlook, By Aerospace (2021-2030) ($MN)
91 Asia Pacific Advanced Materials Market Outlook, By Electricals & Electronics (2021-2030) ($MN)
92 Asia Pacific Advanced Materials Market Outlook, By Industrial (2021-2030) ($MN)
93 Asia Pacific Advanced Materials Market Outlook, By Automotive (2021-2030) ($MN)
94 Asia Pacific Advanced Materials Market Outlook, By Power (2021-2030) ($MN)
95 Asia Pacific Advanced Materials Market Outlook, By Medical Devices (2021-2030) ($MN)
96 Asia Pacific Advanced Materials Market Outlook, By Other Applications (2021-2030) ($MN)
97 South America Advanced Materials Market Outlook, By Country (2021-2030) ($MN)
98 South America Advanced Materials Market Outlook, By Product Type (2021-2030) ($MN)
99 South America Advanced Materials Market Outlook, By Metal & Alloys (2021-2030) ($MN)
100 South America Advanced Materials Market Outlook, By Glasses (2021-2030) ($MN)
101 South America Advanced Materials Market Outlook, By Composites (2021-2030) ($MN)
102 South America Advanced Materials Market Outlook, By Ceramics (2021-2030) ($MN)
103 South America Advanced Materials Market Outlook, By Composites (2021-2030) ($MN)
104 South America Advanced Materials Market Outlook, By Polymers (2021-2030) ($MN)
105 South America Advanced Materials Market Outlook, By Other Product Types (2021-2030) ($MN)
106 South America Advanced Materials Market Outlook, By Form (2021-2030) ($MN)
107 South America Advanced Materials Market Outlook, By Film (2021-2030) ($MN)
108 South America Advanced Materials Market Outlook, By Bulk (2021-2030) ($MN)
109 South America Advanced Materials Market Outlook, By Fibers (2021-2030) ($MN)
110 South America Advanced Materials Market Outlook, By Powder (2021-2030) ($MN)
111 South America Advanced Materials Market Outlook, By Gels (2021-2030) ($MN)
112 South America Advanced Materials Market Outlook, By Other Forms (2021-2030) ($MN)
113 South America Advanced Materials Market Outlook, By Application (2021-2030) ($MN)
114 South America Advanced Materials Market Outlook, By Aerospace (2021-2030) ($MN)
115 South America Advanced Materials Market Outlook, By Electricals & Electronics (2021-2030) ($MN)
116 South America Advanced Materials Market Outlook, By Industrial (2021-2030) ($MN)
117 South America Advanced Materials Market Outlook, By Automotive (2021-2030) ($MN)
118 South America Advanced Materials Market Outlook, By Power (2021-2030) ($MN)
119 South America Advanced Materials Market Outlook, By Medical Devices (2021-2030) ($MN)
120 South America Advanced Materials Market Outlook, By Other Applications (2021-2030) ($MN)
121 Middle East & Africa Advanced Materials Market Outlook, By Country (2021-2030) ($MN)
122 Middle East & Africa Advanced Materials Market Outlook, By Product Type (2021-2030) ($MN)
123 Middle East & Africa Advanced Materials Market Outlook, By Metal & Alloys (2021-2030) ($MN)
124 Middle East & Africa Advanced Materials Market Outlook, By Glasses (2021-2030) ($MN)
125 Middle East & Africa Advanced Materials Market Outlook, By Composites (2021-2030) ($MN)
126 Middle East & Africa Advanced Materials Market Outlook, By Ceramics (2021-2030) ($MN)
127 Middle East & Africa Advanced Materials Market Outlook, By Composites (2021-2030) ($MN)
128 Middle East & Africa Advanced Materials Market Outlook, By Polymers (2021-2030) ($MN)
129 Middle East & Africa Advanced Materials Market Outlook, By Other Product Types (2021-2030) ($MN)
130 Middle East & Africa Advanced Materials Market Outlook, By Form (2021-2030) ($MN)
131 Middle East & Africa Advanced Materials Market Outlook, By Film (2021-2030) ($MN)
132 Middle East & Africa Advanced Materials Market Outlook, By Bulk (2021-2030) ($MN)
133 Middle East & Africa Advanced Materials Market Outlook, By Fibers (2021-2030) ($MN)
134 Middle East & Africa Advanced Materials Market Outlook, By Powder (2021-2030) ($MN)
135 Middle East & Africa Advanced Materials Market Outlook, By Gels (2021-2030) ($MN)
136 Middle East & Africa Advanced Materials Market Outlook, By Other Forms (2021-2030) ($MN)
137 Middle East & Africa Advanced Materials Market Outlook, By Application (2021-2030) ($MN)
138 Middle East & Africa Advanced Materials Market Outlook, By Aerospace (2021-2030) ($MN)
139 Middle East & Africa Advanced Materials Market Outlook, By Electricals & Electronics (2021-2030) ($MN)
140 Middle East & Africa Advanced Materials Market Outlook, By Industrial (2021-2030) ($MN)
141 Middle East & Africa Advanced Materials Market Outlook, By Automotive (2021-2030) ($MN)
142 Middle East & Africa Advanced Materials Market Outlook, By Power (2021-2030) ($MN)
143 Middle East & Africa Advanced Materials Market Outlook, By Medical Devices (2021-2030) ($MN)
144 Middle East & Africa Advanced Materials Market Outlook, By Other Applications (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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