Automotive Silicone Market
Automotive Silicone Market Forecasts to 2030 - Global Analysis By Product (Gels, Adhesives and Sealants, Elastomers and Other Products), Application and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $2.65 BN |
|
Projected Year Value (2030) |
US $5.27 BN |
|
CAGR (2023 - 2030) |
10.3% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Automotive Silicone Market is accounted for $2.65 billion in 2023 and is expected to reach $5.27 billion by 2030 growing at a CAGR of 10.3% during the forecast period. The automotive silicone market refers to the industry segment focused on the production, distribution, and utilization of silicone-based materials and products within the automotive sector. Silicone, a versatile polymer with notable characteristics such as high temperature resistance, flexibility, and durability, finds widespread application in various automotive components. These silicone-based solutions play a crucial role in enhancing the performance, reliability, and longevity of automotive systems.
According to OICA, in the first nine months of 2021, the total production of vehicles stood at 32.67 million units, an increase of 11% compared to the same period last year.
Market Dynamics:
Driver:
Rising automotive production
As the automotive industry experiences a surge in manufacturing activities, the demand for advanced materials like silicone intensifies. Silicone's unique properties, including high-temperature resistance, flexibility, and durability, make it a preferred choice for various automotive components. With the rising production of conventional vehicles, as well as the increasing demand for electric vehicles (EVs), silicone finds extensive use in critical applications such as gaskets, seals, adhesives, and thermal management solutions. Moreover, as automakers seek to enhance vehicle performance, efficiency, and comply with stringent environmental standards, the versatility of silicone becomes paramount.
Restraint:
Fluctuating raw material prices
The production of silicone involves the use of key raw materials, such as silicon metal, whose prices can be subject to volatility due to factors like global supply-demand dynamics and geopolitical events. Fluctuating raw material prices present challenges for silicone manufacturers in terms of cost predictability, affecting overall production expenses. These uncertainties may lead to increased production costs, subsequently impacting the competitiveness of silicone-based products in the automotive market. However, price variations can influence profit margins for manufacturers and may necessitate adjustments in pricing for end-users, potentially affecting the overall adoption of silicone materials in automotive applications.
Opportunity:
Demand for lightweight materials
Silicone, being a lightweight and versatile material, gains prominence in this context as automakers increasingly prioritize weight reduction strategies. With stringent emission standards and a growing emphasis on sustainability, silicone's role in replacing heavier materials in various automotive applications becomes crucial. Furthermore, silicone hoses, gaskets, and seals contribute to reducing the overall weight of vehicles while maintaining durability and performance.
Threat:
Intense competition from alternative materials
The automotive industry witnesses a continuous quest for materials that offer a balance of performance, cost-effectiveness, and environmental sustainability. While silicone provides unique advantages, such as high-temperature resistance and flexibility, it faces robust competition from alternative materials like thermoplastics and fluoropolymers. These alternatives often present competitive solutions, sometimes with lower costs or specific performance attributes that meet certain automotive requirements. Manufacturers and end-users may opt for alternative materials based on factors such as application-specific needs, regulatory compliance, and cost considerations.
Covid-19 Impact:
The automotive industry faced disruptions in production, supply chain constraints, and a decline in consumer demand, leading to reduced vehicle manufacturing. As a result, the demand for automotive silicone-based products witnessed a slowdown during the initial phases of the pandemic. Supply chain interruptions, restrictions on manufacturing operations, and economic uncertainties affected both the production and consumption sides of the automotive silicone market. However, as the industry adapted to new norms and recovered, the focus on hygiene and safety in vehicles increased, driving demand for silicone-based solutions in interiors.
The elastomers segment is expected to be the largest during the forecast period
Due to the unique properties of silicone elastomers, making them indispensable in various automotive applications, Elastomers segment is expected to be the largest during the forecast period. Silicone elastomers, known for their flexibility, durability, and resistance to extreme temperatures, have found extensive use in gaskets, seals, and components requiring superior elasticity. As automotive manufacturers increasingly prioritize lightweight materials for enhanced fuel efficiency, silicone elastomers offer an ideal solution without compromising on performance.
The suspension systems segment is expected to have the highest CAGR during the forecast period
Suspension Systems segment is expected to have the highest CAGR during the forecast period. Silicone bushings and mounts contribute to improved ride quality by dampening vibrations and reducing noise. Silicone's ability to withstand harsh environmental conditions and resist degradation enhances the longevity and performance of suspension components. As automotive manufacturers strive to enhance overall vehicle comfort and handling, the use of silicone in suspension systems has become integral. Moreover, the booming demand for smoother rides, reduced noise, and heightened durability has propelled the Suspension Systems segment within the Automotive Silicone Market, showcasing silicone's pivotal role in advancing automotive engineering and design.
Region with largest share:
Asia Pacific region commanded the largest share of the market throughout the extrapolated period. As the region experiences rapid urbanization, rising disposable incomes, and a growing middle class, there is a heightened focus on vehicle aesthetics, comfort, and performance. Additionally, stringent environmental regulations drive the adoption of silicone in electric vehicles, further boosting the market. The increasing focus on reducing emissions and enhancing vehicle efficiency has led to stringent environmental standards and regulations imposed by governments across the region.
Region with highest CAGR:
Asia Pacific region is projected to witness profitable growth over the feasible period. As automotive manufacturers strive to comply with these regulations, there is a growing inclination towards silicone-based solutions. Silicone's unique properties, including heat resistance and lightweight characteristics, make it a preferred choice for components contributing to fuel efficiency and emission reduction. Moreover, the region's push towards electric vehicles (EVs) has further amplified the demand for silicone in critical applications such as battery systems and thermal management.
Key players in the market
Some of the key players in Automotive Silicone market include 3M Company, Bluestar Silicones, BRB International b.v, Elkem ASA, Evonik Industries AG, Gelest Inc, KCC Silicones, Kibaru Manufacturing Sdn Bhd, Momentive Performance Materials, Novagard Solutions, Primasil Silicones, Silicone Solutions, Siltech Corporation, The Dow Chemical Company and Wacker Chemie AG.
Key Developments:
In March 2023, Shin-Etsu Chemical developed a silicone rubber formulation suitable for molding, specifically designed to serve as an ideal insulation covering material for high-voltage cables within automobiles.
In December 2022, Dow launched liquid silicone rubber series, which can be used across multiple automotive applications such as connector seals, battery vent gaskets and radiator gasket seals for electric and hybrid vehicles, as well as environmental protection seals for autonomous vehicles’ lidar and radar housing.
In May 2022, Dow introduced a new mouldable material, which finds application in adaptive driving beam (ADB) light guides in cars. Silastic MS-5002 mouldable silicone is a specialized Liquid Silicone Rubber (LSR) that offers extremely low mould fouling for faster cycle times and high-quality optics. The material is developed for injection moulded parts needing high-productivity manufacturing. The product launch is aimed at decreasing vehicle weight and reducing energy requirements for production.
In April 2022, Shin-Etsu Chemical Co., Ltd., introduced thermal interface rubber sheet, called “TC-BGI Series”. The product is developed for applications in components for electric vehicles. It is designed to be used as heat dissipation measures for component parts of electric cars. It is a high hardness thermal interface rubber sheet offering high voltage endurance and thermal conductivity.
Products Covered:
• Gels
• Adhesives and Sealants
• Elastomers
• Resins
• Hoses and Tubing
• Grommets
• Coatings and Films
• Thermal Management Solutions
• Other Products
Applications Covered:
• Tires
• Suspension Systems
• Interiors and Exteriors
• Electrical Systems
• Engine and Drivetrain Systems
• 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
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 Automotive Silicone Market, By Product
5.1 Introduction
5.2 Gels
5.3 Adhesives and Sealants
5.4 Elastomers
5.5 Resins
5.6 Hoses and Tubing
5.7 Grommets
5.8 Coatings and Films
5.9 Thermal Management Solutions
5.10 Other Products
6 Global Automotive Silicone Market, By Application
6.1 Introduction
6.2 Tires
6.3 Suspension Systems
6.4 Interiors and Exteriors
6.5 Electrical Systems
6.6 Engine and Drivetrain Systems
6.7 Other Applications
7 Global Automotive Silicone Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 3M Company
9.2 Bluestar Silicones
9.3 BRB International b.v
9.4 Elkem ASA
9.5 Evonik Industries AG
9.6 Gelest Inc
9.7 KCC Silicones
9.8 Kibaru Manufacturing Sdn Bhd
9.9 Momentive Performance Materials
9.10 Novagard Solutions
9.11 Primasil Silicones
9.12 Silicone Solutions
9.13 Siltech Corporation
9.14 The Dow Chemical Company
9.15 Wacker Chemie AG
List of Tables
1 Global Automotive Silicone Market Outlook, By Region (2021-2030) ($MN)
2 Global Automotive Silicone Market Outlook, By Product (2021-2030) ($MN)
3 Global Automotive Silicone Market Outlook, By Gels (2021-2030) ($MN)
4 Global Automotive Silicone Market Outlook, By Adhesives and Sealants (2021-2030) ($MN)
5 Global Automotive Silicone Market Outlook, By Elastomers (2021-2030) ($MN)
6 Global Automotive Silicone Market Outlook, By Resins (2021-2030) ($MN)
7 Global Automotive Silicone Market Outlook, By Hoses and Tubing (2021-2030) ($MN)
8 Global Automotive Silicone Market Outlook, By Grommets (2021-2030) ($MN)
9 Global Automotive Silicone Market Outlook, By Coatings and Films (2021-2030) ($MN)
10 Global Automotive Silicone Market Outlook, By Thermal Management Solutions (2021-2030) ($MN)
11 Global Automotive Silicone Market Outlook, By Other Products (2021-2030) ($MN)
12 Global Automotive Silicone Market Outlook, By Application (2021-2030) ($MN)
13 Global Automotive Silicone Market Outlook, By Tires (2021-2030) ($MN)
14 Global Automotive Silicone Market Outlook, By Suspension Systems (2021-2030) ($MN)
15 Global Automotive Silicone Market Outlook, By Interiors and Exteriors (2021-2030) ($MN)
16 Global Automotive Silicone Market Outlook, By Electrical Systems (2021-2030) ($MN)
17 Global Automotive Silicone Market Outlook, By Engine and Drivetrain Systems (2021-2030) ($MN)
18 Global Automotive Silicone Market Outlook, By Other Applications (2021-2030) ($MN)
19 North America Automotive Silicone Market Outlook, By Country (2021-2030) ($MN)
20 North America Automotive Silicone Market Outlook, By Product (2021-2030) ($MN)
21 North America Automotive Silicone Market Outlook, By Gels (2021-2030) ($MN)
22 North America Automotive Silicone Market Outlook, By Adhesives and Sealants (2021-2030) ($MN)
23 North America Automotive Silicone Market Outlook, By Elastomers (2021-2030) ($MN)
24 North America Automotive Silicone Market Outlook, By Resins (2021-2030) ($MN)
25 North America Automotive Silicone Market Outlook, By Hoses and Tubing (2021-2030) ($MN)
26 North America Automotive Silicone Market Outlook, By Grommets (2021-2030) ($MN)
27 North America Automotive Silicone Market Outlook, By Coatings and Films (2021-2030) ($MN)
28 North America Automotive Silicone Market Outlook, By Thermal Management Solutions (2021-2030) ($MN)
29 North America Automotive Silicone Market Outlook, By Other Products (2021-2030) ($MN)
30 North America Automotive Silicone Market Outlook, By Application (2021-2030) ($MN)
31 North America Automotive Silicone Market Outlook, By Tires (2021-2030) ($MN)
32 North America Automotive Silicone Market Outlook, By Suspension Systems (2021-2030) ($MN)
33 North America Automotive Silicone Market Outlook, By Interiors and Exteriors (2021-2030) ($MN)
34 North America Automotive Silicone Market Outlook, By Electrical Systems (2021-2030) ($MN)
35 North America Automotive Silicone Market Outlook, By Engine and Drivetrain Systems (2021-2030) ($MN)
36 North America Automotive Silicone Market Outlook, By Other Applications (2021-2030) ($MN)
37 Europe Automotive Silicone Market Outlook, By Country (2021-2030) ($MN)
38 Europe Automotive Silicone Market Outlook, By Product (2021-2030) ($MN)
39 Europe Automotive Silicone Market Outlook, By Gels (2021-2030) ($MN)
40 Europe Automotive Silicone Market Outlook, By Adhesives and Sealants (2021-2030) ($MN)
41 Europe Automotive Silicone Market Outlook, By Elastomers (2021-2030) ($MN)
42 Europe Automotive Silicone Market Outlook, By Resins (2021-2030) ($MN)
43 Europe Automotive Silicone Market Outlook, By Hoses and Tubing (2021-2030) ($MN)
44 Europe Automotive Silicone Market Outlook, By Grommets (2021-2030) ($MN)
45 Europe Automotive Silicone Market Outlook, By Coatings and Films (2021-2030) ($MN)
46 Europe Automotive Silicone Market Outlook, By Thermal Management Solutions (2021-2030) ($MN)
47 Europe Automotive Silicone Market Outlook, By Other Products (2021-2030) ($MN)
48 Europe Automotive Silicone Market Outlook, By Application (2021-2030) ($MN)
49 Europe Automotive Silicone Market Outlook, By Tires (2021-2030) ($MN)
50 Europe Automotive Silicone Market Outlook, By Suspension Systems (2021-2030) ($MN)
51 Europe Automotive Silicone Market Outlook, By Interiors and Exteriors (2021-2030) ($MN)
52 Europe Automotive Silicone Market Outlook, By Electrical Systems (2021-2030) ($MN)
53 Europe Automotive Silicone Market Outlook, By Engine and Drivetrain Systems (2021-2030) ($MN)
54 Europe Automotive Silicone Market Outlook, By Other Applications (2021-2030) ($MN)
55 Asia Pacific Automotive Silicone Market Outlook, By Country (2021-2030) ($MN)
56 Asia Pacific Automotive Silicone Market Outlook, By Product (2021-2030) ($MN)
57 Asia Pacific Automotive Silicone Market Outlook, By Gels (2021-2030) ($MN)
58 Asia Pacific Automotive Silicone Market Outlook, By Adhesives and Sealants (2021-2030) ($MN)
59 Asia Pacific Automotive Silicone Market Outlook, By Elastomers (2021-2030) ($MN)
60 Asia Pacific Automotive Silicone Market Outlook, By Resins (2021-2030) ($MN)
61 Asia Pacific Automotive Silicone Market Outlook, By Hoses and Tubing (2021-2030) ($MN)
62 Asia Pacific Automotive Silicone Market Outlook, By Grommets (2021-2030) ($MN)
63 Asia Pacific Automotive Silicone Market Outlook, By Coatings and Films (2021-2030) ($MN)
64 Asia Pacific Automotive Silicone Market Outlook, By Thermal Management Solutions (2021-2030) ($MN)
65 Asia Pacific Automotive Silicone Market Outlook, By Other Products (2021-2030) ($MN)
66 Asia Pacific Automotive Silicone Market Outlook, By Application (2021-2030) ($MN)
67 Asia Pacific Automotive Silicone Market Outlook, By Tires (2021-2030) ($MN)
68 Asia Pacific Automotive Silicone Market Outlook, By Suspension Systems (2021-2030) ($MN)
69 Asia Pacific Automotive Silicone Market Outlook, By Interiors and Exteriors (2021-2030) ($MN)
70 Asia Pacific Automotive Silicone Market Outlook, By Electrical Systems (2021-2030) ($MN)
71 Asia Pacific Automotive Silicone Market Outlook, By Engine and Drivetrain Systems (2021-2030) ($MN)
72 Asia Pacific Automotive Silicone Market Outlook, By Other Applications (2021-2030) ($MN)
73 South America Automotive Silicone Market Outlook, By Country (2021-2030) ($MN)
74 South America Automotive Silicone Market Outlook, By Product (2021-2030) ($MN)
75 South America Automotive Silicone Market Outlook, By Gels (2021-2030) ($MN)
76 South America Automotive Silicone Market Outlook, By Adhesives and Sealants (2021-2030) ($MN)
77 South America Automotive Silicone Market Outlook, By Elastomers (2021-2030) ($MN)
78 South America Automotive Silicone Market Outlook, By Resins (2021-2030) ($MN)
79 South America Automotive Silicone Market Outlook, By Hoses and Tubing (2021-2030) ($MN)
80 South America Automotive Silicone Market Outlook, By Grommets (2021-2030) ($MN)
81 South America Automotive Silicone Market Outlook, By Coatings and Films (2021-2030) ($MN)
82 South America Automotive Silicone Market Outlook, By Thermal Management Solutions (2021-2030) ($MN)
83 South America Automotive Silicone Market Outlook, By Other Products (2021-2030) ($MN)
84 South America Automotive Silicone Market Outlook, By Application (2021-2030) ($MN)
85 South America Automotive Silicone Market Outlook, By Tires (2021-2030) ($MN)
86 South America Automotive Silicone Market Outlook, By Suspension Systems (2021-2030) ($MN)
87 South America Automotive Silicone Market Outlook, By Interiors and Exteriors (2021-2030) ($MN)
88 South America Automotive Silicone Market Outlook, By Electrical Systems (2021-2030) ($MN)
89 South America Automotive Silicone Market Outlook, By Engine and Drivetrain Systems (2021-2030) ($MN)
90 South America Automotive Silicone Market Outlook, By Other Applications (2021-2030) ($MN)
91 Middle East & Africa Automotive Silicone Market Outlook, By Country (2021-2030) ($MN)
92 Middle East & Africa Automotive Silicone Market Outlook, By Product (2021-2030) ($MN)
93 Middle East & Africa Automotive Silicone Market Outlook, By Gels (2021-2030) ($MN)
94 Middle East & Africa Automotive Silicone Market Outlook, By Adhesives and Sealants (2021-2030) ($MN)
95 Middle East & Africa Automotive Silicone Market Outlook, By Elastomers (2021-2030) ($MN)
96 Middle East & Africa Automotive Silicone Market Outlook, By Resins (2021-2030) ($MN)
97 Middle East & Africa Automotive Silicone Market Outlook, By Hoses and Tubing (2021-2030) ($MN)
98 Middle East & Africa Automotive Silicone Market Outlook, By Grommets (2021-2030) ($MN)
99 Middle East & Africa Automotive Silicone Market Outlook, By Coatings and Films (2021-2030) ($MN)
100 Middle East & Africa Automotive Silicone Market Outlook, By Thermal Management Solutions (2021-2030) ($MN)
101 Middle East & Africa Automotive Silicone Market Outlook, By Other Products (2021-2030) ($MN)
102 Middle East & Africa Automotive Silicone Market Outlook, By Application (2021-2030) ($MN)
103 Middle East & Africa Automotive Silicone Market Outlook, By Tires (2021-2030) ($MN)
104 Middle East & Africa Automotive Silicone Market Outlook, By Suspension Systems (2021-2030) ($MN)
105 Middle East & Africa Automotive Silicone Market Outlook, By Interiors and Exteriors (2021-2030) ($MN)
106 Middle East & Africa Automotive Silicone Market Outlook, By Electrical Systems (2021-2030) ($MN)
107 Middle East & Africa Automotive Silicone Market Outlook, By Engine and Drivetrain Systems (2021-2030) ($MN)
108 Middle East & Africa Automotive Silicone 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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