Engineering Plastics Market
Engineering Plastics Market Forecasts to 2028 - Global Analysis By Product Type (Polycarbonate (PC), Acrylonitrile Butadiene Styrene, Liquid Crystal Polymers, Thermoplastic Polyesters, Polyoxymethylene (POM), Styrene Copolymers, Polyamides, Polyether Ether Ketone, Polyimides and Other Product Types), End User and By Geography
Years Covered |
2020-2028 |
Estimated Year Value (2022) |
US $108.52 BN |
Projected Year Value (2028) |
US $157.46 BN |
CAGR (2022 - 2028) |
6.4% |
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 |
Europe |
According to Stratistics MRC, the Global Engineering Plastics Market is accounted for $108.52 billion in 2022 and is expected to reach $157.46 billion by 2028 growing at a CAGR of 6.4% during the forecast period. Engineering plastics are a class of plastic materials with better mechanical and thermal properties than the more widely used commodity plastics. They are employed in applications where top-notch performance, dimensional stability, chemical and impact resistance are required. They are highly benefitable because of qualities such as durability, design adaptability, high strength-to-weight ratios and low densities. It incorporates acrylonitrile butadiene styrene (ABS). They are used for Lego bricks, dashboard trim and automobile guards.
According to OICA, automotive production in 2021 accounted for 9,167,214 units, an increase of 4% compared to the show in 2020, which was reported to be 8,822,399 units.
Market Dynamics:
Driver:
Shift toward light weight and durable materials
Engineering plastics have the strength to compete with their metal equivalents, and they also have the advantages of being lightweight, affordable, and flexible. These materials are ideal for a variety of sectors, from automotive and manufacturing to engineering and electronics, owing to their exceptional chemical resistance, impact resistance, and mechanical strength. Their versatility, durability, light weight and easy customization factors propels the market demand.
Restraint:
Strict government policies
Engineered plastics damage the environment and take up precious space in landfills. Despite the fact that they have many advantages, they might take a very long time to decompose. Government agencies are enforcing stringent regulations for their manufacture in an effort to eliminate these effects. The production was challenging due to several efforts and regulations. Before beginning production, the manufacturing facility must adhere to all regulations. This aspect is impeding the market growth.
Opportunity:
Growing need for alternatives
Manufacturers are exploring for substitute materials such engineering polymers due to factors such as payment reforms, medical device taxes and globalization driving down costs. They have a wide range of advantages and in many instances; they successfully take the place of metals or ceramics. They also meet the criteria of the desired use, which is a little easier than with metals. These elements are accelerating the market demand.
Threat:
Low recycling rates
The market for engineering plastics is apparently booming, but recycling is still a significant obstacle. Moreover, plastic recycling rates are astonishingly low in every location, leading to even higher trash quantities that are either burned or dumped. Strict recycling regulations are made as they generate large volume of wastes which in turn limiting the market expansion.
Covid-19 Impact
The COVID-19 pandemic caused significant disturbances to the world's supply chain networks, which hurt the engineering plastics industry. These disruptions were brought on by lockdowns, societal barriers, and trade restrictions. The early 2021 activity suspension had a negative impact on the automotive and construction industries. The second part of 2021 saw positive development in several sectors, which boosted demand for engineering plastics. Interestingly, the packaging and medical sectors' demand for engineering plastics remained strong during the epidemic.
The automotive & transportation segment is expected to be the largest during the forecast period
The automotive & transportation segment is estimated to have a lucrative growth, due to its wide range of applications. Engineering plastics are displacing a number of other materials as the focus shifts to reducing vehicle weight, enhancing fuel economy and controlling emissions. Automotives benefit from the flexibility and thermal stability of engineering plastics. Its high performance and extremely low lead content are driving the segment’s demand.
The liquid crystal polymers segment is expected to have the highest CAGR during the forecast period
The liquid crystal polymers segment is anticipated to witness the fastest CAGR growth during the forecast period, due to its exceptional mechanical properties at high temperatures. They have excellent electrochemical resistance. Liquid crystal polymers inherent flame retardancy and good weather ability. They are available in a range of shapes, including high-temperature sinterable and injection mouldable compositions.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the rapid industrialization. The engineering plastics market is experiencing increased demand as a result of the rising demand from sectors including chemicals, packaging, automotive, and power generation. Due to the move toward stronger, lighter materials, the automotive and electronics sectors in China are growing quickly, they are creating several opportunities for robust market growth in this region.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to stringent government regulations. The government in this region made strict rules and regulations regarding greenhouse gas emissions, and persuasion for developing lightweight materials for automotive industry. The abundant availability of raw materials and increasing automotive production in the region are the core factors exhibiting steadfast market growth.
Key players in the market
Some of the key players profiled in the Engineering Plastics Market include Covestro AG, BASF SE, Celanese Corporation, Solvay S.A., Dow Chemical Company, LG Chem Ltd., Evonik Industries AG, LANXESS AG, Mitsubishi Chemical Holdings Corporation, AdvanSix Inc., Asahi Kasei Corporation, DuPont, Grand Pacific Petrochemical Corporation, Polyplastics Co., Ltd., Daicel Corporation, Eastman Chemical Company, Chi Mei Corporation, Trinseo and Teijin Limited.
Key Developments:
In March 2023, Evonik launched a new GMP facility to manufacture lipids for advanced, pharmaceutical drug delivery applications. The lipid launch facility is located at the company’s site in Hanau, Germany and provides customers with quantities of lipids as needed for clinical and small-scale commercial manufacturing.
In June 2022, BASF launches VerdessenceTM RiceTouch, a new biopolymer for a smooth and powdery light skin feel, suitable for a broad range of personal care products. This plant based sensory powder with small particle size provides powdery light and smooth skin feel and is ideal for matte type cosmetics.
Product Types Covered:
• Polycarbonate (PC)
• Acrylonitrile Butadiene Styrene
• Liquid Crystal Polymers
• Thermoplastic Polyesters
• Polyoxymethylene (POM)
• Styrene Copolymers
• Polyamides
• Polyether Ether Ketone
• Polyimides
• Other Product Types
End Users Covered:
• Automotive & Transportation
• Building & Construction
• Consumer Goods
• Electrical & Electronics
• Packaging
• Industrial & Machinery
• Other End Users
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 2020, 2021, 2022, 2025, and 2028
- 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 End User 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 Engineering Plastics Market, By Product Type
5.1 Introduction
5.2 Polycarbonate (PC)
5.3 Acrylonitrile Butadiene Styrene
5.4 Liquid Crystal Polymers
5.5 Thermoplastic Polyesters
5.6 Polyoxymethylene (POM)
5.7 Styrene Copolymers
5.8 Polyamides
5.9 Polyether Ether Ketone
5.10 Polyimides
5.11 Other Product Types
6 Global Engineering Plastics Market, By End User
6.1 Introduction
6.2 Automotive & Transportation
6.3 Building & Construction
6.4 Consumer Goods
6.5 Electrical & Electronics
6.6 Packaging
6.7 Industrial & Machinery
6.8 Other End Users
7 Global Engineering Plastics 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 Covestro AG
9.2 BASF SE
9.3 Celanese Corporation
9.4 Solvay S.A.
9.5 Dow Chemical Company
9.6 LG Chem Ltd.
9.7 Evonik Industries AG
9.8 LANXESS AG
9.9 Mitsubishi Chemical Holdings Corporation
9.10 AdvanSix Inc.
9.11 Asahi Kasei Corporation
9.12 DuPont
9.13 Grand Pacific Petrochemical Corporation
9.14 Polyplastics Co., Ltd.
9.15 Daicel Corporation
9.16 Eastman Chemical Company
9.17 Chi Mei Corporation
9.18 Trinseo
9.19 Teijin Limited
List of Tables
1 Global Engineering Plastics Market Outlook, By Region (2020-2028) ($MN)
2 Global Engineering Plastics Market Outlook, By Product Type (2020-2028) ($MN)
3 Global Engineering Plastics Market Outlook, By Polycarbonate (PC) (2020-2028) ($MN)
4 Global Engineering Plastics Market Outlook, By Acrylonitrile Butadiene Styrene (2020-2028) ($MN)
5 Global Engineering Plastics Market Outlook, By Liquid Crystal Polymers (2020-2028) ($MN)
6 Global Engineering Plastics Market Outlook, By Thermoplastic Polyesters (2020-2028) ($MN)
7 Global Engineering Plastics Market Outlook, By Polyoxymethylene (POM) (2020-2028) ($MN)
8 Global Engineering Plastics Market Outlook, By Styrene Copolymers (2020-2028) ($MN)
9 Global Engineering Plastics Market Outlook, By Polyamides (2020-2028) ($MN)
10 Global Engineering Plastics Market Outlook, By Polyether Ether Ketone (2020-2028) ($MN)
11 Global Engineering Plastics Market Outlook, By Polyimides (2020-2028) ($MN)
12 Global Engineering Plastics Market Outlook, By Other Product Types (2020-2028) ($MN)
13 Global Engineering Plastics Market Outlook, By End User (2020-2028) ($MN)
14 Global Engineering Plastics Market Outlook, By Automotive & Transportation (2020-2028) ($MN)
15 Global Engineering Plastics Market Outlook, By Building & Construction (2020-2028) ($MN)
16 Global Engineering Plastics Market Outlook, By Consumer Goods (2020-2028) ($MN)
17 Global Engineering Plastics Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
18 Global Engineering Plastics Market Outlook, By Packaging (2020-2028) ($MN)
19 Global Engineering Plastics Market Outlook, By Industrial & Machinery (2020-2028) ($MN)
20 Global Engineering Plastics Market Outlook, By Other End Users (2020-2028) ($MN)
21 North America Engineering Plastics Market Outlook, By Country (2020-2028) ($MN)
22 North America Engineering Plastics Market Outlook, By Product Type (2020-2028) ($MN)
23 North America Engineering Plastics Market Outlook, By Polycarbonate (PC) (2020-2028) ($MN)
24 North America Engineering Plastics Market Outlook, By Acrylonitrile Butadiene Styrene (2020-2028) ($MN)
25 North America Engineering Plastics Market Outlook, By Liquid Crystal Polymers (2020-2028) ($MN)
26 North America Engineering Plastics Market Outlook, By Thermoplastic Polyesters (2020-2028) ($MN)
27 North America Engineering Plastics Market Outlook, By Polyoxymethylene (POM) (2020-2028) ($MN)
28 North America Engineering Plastics Market Outlook, By Styrene Copolymers (2020-2028) ($MN)
29 North America Engineering Plastics Market Outlook, By Polyamides (2020-2028) ($MN)
30 North America Engineering Plastics Market Outlook, By Polyether Ether Ketone (2020-2028) ($MN)
31 North America Engineering Plastics Market Outlook, By Polyimides (2020-2028) ($MN)
32 North America Engineering Plastics Market Outlook, By Other Product Types (2020-2028) ($MN)
33 North America Engineering Plastics Market Outlook, By End User (2020-2028) ($MN)
34 North America Engineering Plastics Market Outlook, By Automotive & Transportation (2020-2028) ($MN)
35 North America Engineering Plastics Market Outlook, By Building & Construction (2020-2028) ($MN)
36 North America Engineering Plastics Market Outlook, By Consumer Goods (2020-2028) ($MN)
37 North America Engineering Plastics Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
38 North America Engineering Plastics Market Outlook, By Packaging (2020-2028) ($MN)
39 North America Engineering Plastics Market Outlook, By Industrial & Machinery (2020-2028) ($MN)
40 North America Engineering Plastics Market Outlook, By Other End Users (2020-2028) ($MN)
41 Europe Engineering Plastics Market Outlook, By Country (2020-2028) ($MN)
42 Europe Engineering Plastics Market Outlook, By Product Type (2020-2028) ($MN)
43 Europe Engineering Plastics Market Outlook, By Polycarbonate (PC) (2020-2028) ($MN)
44 Europe Engineering Plastics Market Outlook, By Acrylonitrile Butadiene Styrene (2020-2028) ($MN)
45 Europe Engineering Plastics Market Outlook, By Liquid Crystal Polymers (2020-2028) ($MN)
46 Europe Engineering Plastics Market Outlook, By Thermoplastic Polyesters (2020-2028) ($MN)
47 Europe Engineering Plastics Market Outlook, By Polyoxymethylene (POM) (2020-2028) ($MN)
48 Europe Engineering Plastics Market Outlook, By Styrene Copolymers (2020-2028) ($MN)
49 Europe Engineering Plastics Market Outlook, By Polyamides (2020-2028) ($MN)
50 Europe Engineering Plastics Market Outlook, By Polyether Ether Ketone (2020-2028) ($MN)
51 Europe Engineering Plastics Market Outlook, By Polyimides (2020-2028) ($MN)
52 Europe Engineering Plastics Market Outlook, By Other Product Types (2020-2028) ($MN)
53 Europe Engineering Plastics Market Outlook, By End User (2020-2028) ($MN)
54 Europe Engineering Plastics Market Outlook, By Automotive & Transportation (2020-2028) ($MN)
55 Europe Engineering Plastics Market Outlook, By Building & Construction (2020-2028) ($MN)
56 Europe Engineering Plastics Market Outlook, By Consumer Goods (2020-2028) ($MN)
57 Europe Engineering Plastics Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
58 Europe Engineering Plastics Market Outlook, By Packaging (2020-2028) ($MN)
59 Europe Engineering Plastics Market Outlook, By Industrial & Machinery (2020-2028) ($MN)
60 Europe Engineering Plastics Market Outlook, By Other End Users (2020-2028) ($MN)
61 Asia Pacific Engineering Plastics Market Outlook, By Country (2020-2028) ($MN)
62 Asia Pacific Engineering Plastics Market Outlook, By Product Type (2020-2028) ($MN)
63 Asia Pacific Engineering Plastics Market Outlook, By Polycarbonate (PC) (2020-2028) ($MN)
64 Asia Pacific Engineering Plastics Market Outlook, By Acrylonitrile Butadiene Styrene (2020-2028) ($MN)
65 Asia Pacific Engineering Plastics Market Outlook, By Liquid Crystal Polymers (2020-2028) ($MN)
66 Asia Pacific Engineering Plastics Market Outlook, By Thermoplastic Polyesters (2020-2028) ($MN)
67 Asia Pacific Engineering Plastics Market Outlook, By Polyoxymethylene (POM) (2020-2028) ($MN)
68 Asia Pacific Engineering Plastics Market Outlook, By Styrene Copolymers (2020-2028) ($MN)
69 Asia Pacific Engineering Plastics Market Outlook, By Polyamides (2020-2028) ($MN)
70 Asia Pacific Engineering Plastics Market Outlook, By Polyether Ether Ketone (2020-2028) ($MN)
71 Asia Pacific Engineering Plastics Market Outlook, By Polyimides (2020-2028) ($MN)
72 Asia Pacific Engineering Plastics Market Outlook, By Other Product Types (2020-2028) ($MN)
73 Asia Pacific Engineering Plastics Market Outlook, By End User (2020-2028) ($MN)
74 Asia Pacific Engineering Plastics Market Outlook, By Automotive & Transportation (2020-2028) ($MN)
75 Asia Pacific Engineering Plastics Market Outlook, By Building & Construction (2020-2028) ($MN)
76 Asia Pacific Engineering Plastics Market Outlook, By Consumer Goods (2020-2028) ($MN)
77 Asia Pacific Engineering Plastics Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
78 Asia Pacific Engineering Plastics Market Outlook, By Packaging (2020-2028) ($MN)
79 Asia Pacific Engineering Plastics Market Outlook, By Industrial & Machinery (2020-2028) ($MN)
80 Asia Pacific Engineering Plastics Market Outlook, By Other End Users (2020-2028) ($MN)
81 South America Engineering Plastics Market Outlook, By Country (2020-2028) ($MN)
82 South America Engineering Plastics Market Outlook, By Product Type (2020-2028) ($MN)
83 South America Engineering Plastics Market Outlook, By Polycarbonate (PC) (2020-2028) ($MN)
84 South America Engineering Plastics Market Outlook, By Acrylonitrile Butadiene Styrene (2020-2028) ($MN)
85 South America Engineering Plastics Market Outlook, By Liquid Crystal Polymers (2020-2028) ($MN)
86 South America Engineering Plastics Market Outlook, By Thermoplastic Polyesters (2020-2028) ($MN)
87 South America Engineering Plastics Market Outlook, By Polyoxymethylene (POM) (2020-2028) ($MN)
88 South America Engineering Plastics Market Outlook, By Styrene Copolymers (2020-2028) ($MN)
89 South America Engineering Plastics Market Outlook, By Polyamides (2020-2028) ($MN)
90 South America Engineering Plastics Market Outlook, By Polyether Ether Ketone (2020-2028) ($MN)
91 South America Engineering Plastics Market Outlook, By Polyimides (2020-2028) ($MN)
92 South America Engineering Plastics Market Outlook, By Other Product Types (2020-2028) ($MN)
93 South America Engineering Plastics Market Outlook, By End User (2020-2028) ($MN)
94 South America Engineering Plastics Market Outlook, By Automotive & Transportation (2020-2028) ($MN)
95 South America Engineering Plastics Market Outlook, By Building & Construction (2020-2028) ($MN)
96 South America Engineering Plastics Market Outlook, By Consumer Goods (2020-2028) ($MN)
97 South America Engineering Plastics Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
98 South America Engineering Plastics Market Outlook, By Packaging (2020-2028) ($MN)
99 South America Engineering Plastics Market Outlook, By Industrial & Machinery (2020-2028) ($MN)
100 South America Engineering Plastics Market Outlook, By Other End Users (2020-2028) ($MN)
101 Middle East & Africa Engineering Plastics Market Outlook, By Country (2020-2028) ($MN)
102 Middle East & Africa Engineering Plastics Market Outlook, By Product Type (2020-2028) ($MN)
103 Middle East & Africa Engineering Plastics Market Outlook, By Polycarbonate (PC) (2020-2028) ($MN)
104 Middle East & Africa Engineering Plastics Market Outlook, By Acrylonitrile Butadiene Styrene (2020-2028) ($MN)
105 Middle East & Africa Engineering Plastics Market Outlook, By Liquid Crystal Polymers (2020-2028) ($MN)
106 Middle East & Africa Engineering Plastics Market Outlook, By Thermoplastic Polyesters (2020-2028) ($MN)
107 Middle East & Africa Engineering Plastics Market Outlook, By Polyoxymethylene (POM) (2020-2028) ($MN)
108 Middle East & Africa Engineering Plastics Market Outlook, By Styrene Copolymers (2020-2028) ($MN)
109 Middle East & Africa Engineering Plastics Market Outlook, By Polyamides (2020-2028) ($MN)
110 Middle East & Africa Engineering Plastics Market Outlook, By Polyether Ether Ketone (2020-2028) ($MN)
111 Middle East & Africa Engineering Plastics Market Outlook, By Polyimides (2020-2028) ($MN)
112 Middle East & Africa Engineering Plastics Market Outlook, By Other Product Types (2020-2028) ($MN)
113 Middle East & Africa Engineering Plastics Market Outlook, By End User (2020-2028) ($MN)
114 Middle East & Africa Engineering Plastics Market Outlook, By Automotive & Transportation (2020-2028) ($MN)
115 Middle East & Africa Engineering Plastics Market Outlook, By Building & Construction (2020-2028) ($MN)
116 Middle East & Africa Engineering Plastics Market Outlook, By Consumer Goods (2020-2028) ($MN)
117 Middle East & Africa Engineering Plastics Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
118 Middle East & Africa Engineering Plastics Market Outlook, By Packaging (2020-2028) ($MN)
119 Middle East & Africa Engineering Plastics Market Outlook, By Industrial & Machinery (2020-2028) ($MN)
120 Middle East & Africa Engineering Plastics Market Outlook, By Other End Users (2020-2028) ($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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