Hydrocarbon Resins Market
Hydrocarbon Resins Market Forecasts to 2030 - Global Analysis By Type (C5 Petroleum Resins, C9 Petroleum Resins and Other Types), Application (Adhesives and Sealants, Printing Inks and Other Applications) and By Geography
According to Stratistics MRC, the Global Hydrocarbon Resins Market is accounted for $2.8 billion in 2023 and is expected to reach $5.10 billion by 2030 growing at a CAGR of 8.94% during the forecast period. Hydrocarbon resins are a versatile class of synthetic polymers derived from petroleum feedstocks. These resins are characterized by their excellent adhesive, binding, and thermal properties, making them widely used in various industrial applications. They are typically formed through the polymerization of aliphatic or aromatic hydrocarbons, resulting in a wide range of molecular weights and compositions tailored to specific applications. Hydrocarbon resins find extensive use in adhesives, coatings, inks, rubber compounding, and other industries due to their ability to improve product performance and processability.
According to the United Nations Conference on Trade and Development (UNSTAD), covid 19 boosted the percentage of online commerce, resulting in a 19 percent total share in 2022. Global e-commerce reached a record high of USD 26.7 trillion, up 4% from the previous year.
Market Dynamics:
Driver:
Growth in end-use industries
Growth in end-use industries serves as a significant driver for hydrocarbon resins. These resins find extensive application across various sectors, including adhesives, coatings, printing inks, and rubber compounding. As end-user industries such as construction, automotive, packaging, and textiles expand, the demand for hydrocarbon resins increases correspondingly. Their versatility, ranging from enhancing product performance to providing adhesion and durability, makes them indispensable in diverse manufacturing processes.
Restraint:
Toxicity
Toxicity restraint involves stringent control measures to minimize harmful effects on human health and the environment. This includes ensuring the use of raw materials with low toxicity levels and employing efficient manufacturing processes to reduce the generation of hazardous by-products. Regular monitoring and testing are essential to detect any potential toxicity concerns early on, allowing for prompt corrective action. Furthermore, regulatory compliance and adherence to industry standards play a crucial role in ensuring the safety and sustainability of hydrocarbon resin applications across various sectors.
Opportunity:
Rubber compounding
Hydrocarbon resins offer a promising opportunity in rubber compounding due to their versatile properties. These resins can act as tackifiers, reinforcing agents, and viscosity modifiers in rubber formulations, enhancing adhesive strength, modulus, and processing characteristics. Their compatibility with various elastomers allows for tailored blends catering to specific application needs, such as tire manufacturing, industrial rubber goods, and adhesives. Additionally, leveraging these advantages, manufacturers can optimize rubber compound formulations for improved performance, cost-effectiveness, and sustainability in diverse end-use applications.
Threat:
Environmental impact
Hydrocarbon resins pose environmental impact threats primarily due to their non-biodegradable nature. When released into the environment through manufacturing processes or product disposal, these resins can persist for long periods, accumulating in soil and water bodies. Their chemical composition can also leach harmful substances into ecosystems, potentially disrupting aquatic life and soil fertility. Additionally, the production of hydrocarbon resins often involves the use of fossil fuels, contributing to carbon emissions and climate change. Efforts to mitigate these impacts include improving recycling methods and exploring alternative, more eco-friendly resin formulations.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted hydrocarbon resins, which are crucial components in various industries such as adhesives, coatings, and printing inks. Supply chain disruptions, reduced demand due to economic slowdowns, and workforce shortages disrupted production and distribution channels. Fluctuating oil prices also affected the cost of raw materials, influencing resin prices. However, as economies gradually recover and industries resume operations, the demand for hydrocarbon resins is expected to stabilize, albeit with potential shifts in market dynamics and consumer preferences influenced by the pandemic's lasting effects.
The c9 petroleum resins segment is expected to be the largest during the forecast period
The C9 Petroleum Resins segment has experienced notable growth within the hydrocarbon resins market due to including increased demand from industries such as adhesives, coatings, and printing inks. C9 petroleum resins offer desirable properties such as excellent adhesion, compatibility, and thermal stability, making them ideal for a wide range of applications. Advancements in technology have led to the development of specialized C9 petroleum resins tailored to meet specific industry requirements. Additionally, the expanding construction and automotive sectors have boosted demand for adhesives and coatings, driving the need for C9 petroleum resins as key ingredients.
The building & construction segment is expected to have the highest CAGR during the forecast period
The building and construction segment has experienced notable growth in the utilization of hydrocarbon resins. These resins are increasingly employed in various construction applications due to their exceptional durability, and versatility. They are used in adhesives, sealants, coatings, and roofing materials, among others. The demand for hydrocarbon resins in this sector is driven by the booming construction industry, particularly in emerging economies where infrastructure development is robust. Furthermore, the shift towards eco-friendly and sustainable construction practices has further propelled the adoption of hydrocarbon resins, as they offer viable alternatives to traditional petroleum-based products.
Region with largest share:
North American region has experienced significant growth in the production and utilization of hydrocarbon resins. This expansion can be attributed to several factors, including increased demand across various industries such as adhesives, coatings, and printing inks. The region's thriving manufacturing sector, coupled with advancements in technology and resin formulations, has further fueled this growth. Additionally, the growing emphasis on sustainability and environmental regulations has prompted the adoption of hydrocarbon resins as eco-friendly alternatives to traditional petroleum-based products.
Region with highest CAGR:
The Asia-Pacific region has experienced substantial growth due to rapid industrialization and urbanization in countries like China, India, and Southeast Asian nations. The expanding automotive and construction sectors have further boosted the demand for these resins in coatings and adhesives for various manufacturing processes. Additionally, favourable government policies promoting infrastructural development and foreign investments have contributed to the market's growth trajectory.
Key players in the market
Some of the key players in Hydrocarbon Resins market include Arakawa Chemical Industries Ltd, Cray Valley, Eastman Chemical Company, Exxon Mobil Corporation, Hi-gree, Kolon Industries Inc., Lesco Chemical Limited, Mitsui Chemicals America, Neville Chemical Company, Puyang Tiacheng Chemcal Co. , Ltd, Qingdao Eastsun New Materials Corporation, RÜTGERS Group, Shandong Landun Petroleum Resin Co., Ltd and Zeon Corporation.
Key Developments:
In February 2024, EnLink Midstream has collaborated with ExxonMobil to explore additional CCS opportunities along the Gulf Coast. The initiative aims to extend beyond the south-east Louisiana Mississippi River Corridor and into several other areas, addressing one of the highest concentrations of industrial CO? emissions in the US.
In February 2024, Eastman Chemical Co, based in Kingsport, Tennessee, has unveiled a comprehensive and long-term agreement with Nord Pal Plast SA, a part of Dentis Group, a prominent Italian multinational specializing in the recovery and mechanical recycling of PET packaging waste. This strategic collaboration extends across Dentis Group's mechanical recycling sites situated in France, Spain, and Italy.
Types Covered:
• C5 Petroleum Resins
• C9 Petroleum Resins
• C5/C9 Petroleum Resins
• Dicyclopentadiene (DCPD) Resins
• Other Types
Applications Covered:
• Adhesives and Sealants
• Printing Inks
• Rubber Compounding
• Paints and Coatings
• Tapes and Labels
• Building & Construction
• Personal Hygiene
• Tires
• 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 Application Analysis
3.7 Emerging Markets
3.8 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 Hydrocarbon Resins Market, By Type
5.1 Introduction
5.2 C5 Petroleum Resins
5.2.1 Hydrogenated C5 Resins
5.2.2 Non-Hydrogenated C5 Resins
5.3 C9 Petroleum Resins
5.4 C5/C9 Petroleum Resins
5.5 Dicyclopentadiene (DCPD) Resins
5.6 Other Types
6 Global Hydrocarbon Resins Market, By Application
6.1 Introduction
6.2 Adhesives and Sealants
6.3 Printing Inks
6.4 Rubber Compounding
6.5 Paints and Coatings
6.6 Tapes and Labels
6.7 Building & Construction
6.8 Personal Hygiene
6.9 Tires
6.10 Other Applications
7 Global Hydrocarbon Resins 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 Arakawa Chemical Industries Ltd
9.2 Cray Valley
9.3 Eastman Chemical Company
9.4 Exxon Mobil Corporation
9.5 Hi-gree
9.6 Kolon Industries Inc.
9.7 Lesco Chemical Limited
9.8 Mitsui Chemicals America
9.9 Neville Chemical Company
9.10 Puyang Tiacheng Chemcal Co. , Ltd
9.11 Qingdao Eastsun New Materials Corporation
9.12 RÜTGERS Group
9.13 Shandong Landun Petroleum Resin Co., Ltd
9.14 Zeon Corporation
List of Tables
1 Global Hydrocarbon Resins Market Outlook, By Region (2021-2030) ($MN)
2 Global Hydrocarbon Resins Market Outlook, By Type (2021-2030) ($MN)
3 Global Hydrocarbon Resins Market Outlook, By C5 Petroleum Resins (2021-2030) ($MN)
4 Global Hydrocarbon Resins Market Outlook, By Hydrogenated C5 Resins (2021-2030) ($MN)
5 Global Hydrocarbon Resins Market Outlook, By Non-Hydrogenated C5 Resins (2021-2030) ($MN)
6 Global Hydrocarbon Resins Market Outlook, By C9 Petroleum Resins (2021-2030) ($MN)
7 Global Hydrocarbon Resins Market Outlook, By C5/C9 Petroleum Resins (2021-2030) ($MN)
8 Global Hydrocarbon Resins Market Outlook, By Dicyclopentadiene (DCPD) Resins (2021-2030) ($MN)
9 Global Hydrocarbon Resins Market Outlook, By Other Types (2021-2030) ($MN)
10 Global Hydrocarbon Resins Market Outlook, By Application (2021-2030) ($MN)
11 Global Hydrocarbon Resins Market Outlook, By Adhesives and Sealants (2021-2030) ($MN)
12 Global Hydrocarbon Resins Market Outlook, By Printing Inks (2021-2030) ($MN)
13 Global Hydrocarbon Resins Market Outlook, By Rubber Compounding (2021-2030) ($MN)
14 Global Hydrocarbon Resins Market Outlook, By Paints and Coatings (2021-2030) ($MN)
15 Global Hydrocarbon Resins Market Outlook, By Tapes and Labels (2021-2030) ($MN)
16 Global Hydrocarbon Resins Market Outlook, By Building & Construction (2021-2030) ($MN)
17 Global Hydrocarbon Resins Market Outlook, By Personal Hygiene (2021-2030) ($MN)
18 Global Hydrocarbon Resins Market Outlook, By Tires (2021-2030) ($MN)
19 Global Hydrocarbon Resins Market Outlook, By Other Applications (2021-2030) ($MN)
20 North America Hydrocarbon Resins Market Outlook, By Country (2021-2030) ($MN)
21 North America Hydrocarbon Resins Market Outlook, By Type (2021-2030) ($MN)
22 North America Hydrocarbon Resins Market Outlook, By C5 Petroleum Resins (2021-2030) ($MN)
23 North America Hydrocarbon Resins Market Outlook, By Hydrogenated C5 Resins (2021-2030) ($MN)
24 North America Hydrocarbon Resins Market Outlook, By Non-Hydrogenated C5 Resins (2021-2030) ($MN)
25 North America Hydrocarbon Resins Market Outlook, By C9 Petroleum Resins (2021-2030) ($MN)
26 North America Hydrocarbon Resins Market Outlook, By C5/C9 Petroleum Resins (2021-2030) ($MN)
27 North America Hydrocarbon Resins Market Outlook, By Dicyclopentadiene (DCPD) Resins (2021-2030) ($MN)
28 North America Hydrocarbon Resins Market Outlook, By Other Types (2021-2030) ($MN)
29 North America Hydrocarbon Resins Market Outlook, By Application (2021-2030) ($MN)
30 North America Hydrocarbon Resins Market Outlook, By Adhesives and Sealants (2021-2030) ($MN)
31 North America Hydrocarbon Resins Market Outlook, By Printing Inks (2021-2030) ($MN)
32 North America Hydrocarbon Resins Market Outlook, By Rubber Compounding (2021-2030) ($MN)
33 North America Hydrocarbon Resins Market Outlook, By Paints and Coatings (2021-2030) ($MN)
34 North America Hydrocarbon Resins Market Outlook, By Tapes and Labels (2021-2030) ($MN)
35 North America Hydrocarbon Resins Market Outlook, By Building & Construction (2021-2030) ($MN)
36 North America Hydrocarbon Resins Market Outlook, By Personal Hygiene (2021-2030) ($MN)
37 North America Hydrocarbon Resins Market Outlook, By Tires (2021-2030) ($MN)
38 North America Hydrocarbon Resins Market Outlook, By Other Applications (2021-2030) ($MN)
39 Europe Hydrocarbon Resins Market Outlook, By Country (2021-2030) ($MN)
40 Europe Hydrocarbon Resins Market Outlook, By Type (2021-2030) ($MN)
41 Europe Hydrocarbon Resins Market Outlook, By C5 Petroleum Resins (2021-2030) ($MN)
42 Europe Hydrocarbon Resins Market Outlook, By Hydrogenated C5 Resins (2021-2030) ($MN)
43 Europe Hydrocarbon Resins Market Outlook, By Non-Hydrogenated C5 Resins (2021-2030) ($MN)
44 Europe Hydrocarbon Resins Market Outlook, By C9 Petroleum Resins (2021-2030) ($MN)
45 Europe Hydrocarbon Resins Market Outlook, By C5/C9 Petroleum Resins (2021-2030) ($MN)
46 Europe Hydrocarbon Resins Market Outlook, By Dicyclopentadiene (DCPD) Resins (2021-2030) ($MN)
47 Europe Hydrocarbon Resins Market Outlook, By Other Types (2021-2030) ($MN)
48 Europe Hydrocarbon Resins Market Outlook, By Application (2021-2030) ($MN)
49 Europe Hydrocarbon Resins Market Outlook, By Adhesives and Sealants (2021-2030) ($MN)
50 Europe Hydrocarbon Resins Market Outlook, By Printing Inks (2021-2030) ($MN)
51 Europe Hydrocarbon Resins Market Outlook, By Rubber Compounding (2021-2030) ($MN)
52 Europe Hydrocarbon Resins Market Outlook, By Paints and Coatings (2021-2030) ($MN)
53 Europe Hydrocarbon Resins Market Outlook, By Tapes and Labels (2021-2030) ($MN)
54 Europe Hydrocarbon Resins Market Outlook, By Building & Construction (2021-2030) ($MN)
55 Europe Hydrocarbon Resins Market Outlook, By Personal Hygiene (2021-2030) ($MN)
56 Europe Hydrocarbon Resins Market Outlook, By Tires (2021-2030) ($MN)
57 Europe Hydrocarbon Resins Market Outlook, By Other Applications (2021-2030) ($MN)
58 Asia Pacific Hydrocarbon Resins Market Outlook, By Country (2021-2030) ($MN)
59 Asia Pacific Hydrocarbon Resins Market Outlook, By Type (2021-2030) ($MN)
60 Asia Pacific Hydrocarbon Resins Market Outlook, By C5 Petroleum Resins (2021-2030) ($MN)
61 Asia Pacific Hydrocarbon Resins Market Outlook, By Hydrogenated C5 Resins (2021-2030) ($MN)
62 Asia Pacific Hydrocarbon Resins Market Outlook, By Non-Hydrogenated C5 Resins (2021-2030) ($MN)
63 Asia Pacific Hydrocarbon Resins Market Outlook, By C9 Petroleum Resins (2021-2030) ($MN)
64 Asia Pacific Hydrocarbon Resins Market Outlook, By C5/C9 Petroleum Resins (2021-2030) ($MN)
65 Asia Pacific Hydrocarbon Resins Market Outlook, By Dicyclopentadiene (DCPD) Resins (2021-2030) ($MN)
66 Asia Pacific Hydrocarbon Resins Market Outlook, By Other Types (2021-2030) ($MN)
67 Asia Pacific Hydrocarbon Resins Market Outlook, By Application (2021-2030) ($MN)
68 Asia Pacific Hydrocarbon Resins Market Outlook, By Adhesives and Sealants (2021-2030) ($MN)
69 Asia Pacific Hydrocarbon Resins Market Outlook, By Printing Inks (2021-2030) ($MN)
70 Asia Pacific Hydrocarbon Resins Market Outlook, By Rubber Compounding (2021-2030) ($MN)
71 Asia Pacific Hydrocarbon Resins Market Outlook, By Paints and Coatings (2021-2030) ($MN)
72 Asia Pacific Hydrocarbon Resins Market Outlook, By Tapes and Labels (2021-2030) ($MN)
73 Asia Pacific Hydrocarbon Resins Market Outlook, By Building & Construction (2021-2030) ($MN)
74 Asia Pacific Hydrocarbon Resins Market Outlook, By Personal Hygiene (2021-2030) ($MN)
75 Asia Pacific Hydrocarbon Resins Market Outlook, By Tires (2021-2030) ($MN)
76 Asia Pacific Hydrocarbon Resins Market Outlook, By Other Applications (2021-2030) ($MN)
77 South America Hydrocarbon Resins Market Outlook, By Country (2021-2030) ($MN)
78 South America Hydrocarbon Resins Market Outlook, By Type (2021-2030) ($MN)
79 South America Hydrocarbon Resins Market Outlook, By C5 Petroleum Resins (2021-2030) ($MN)
80 South America Hydrocarbon Resins Market Outlook, By Hydrogenated C5 Resins (2021-2030) ($MN)
81 South America Hydrocarbon Resins Market Outlook, By Non-Hydrogenated C5 Resins (2021-2030) ($MN)
82 South America Hydrocarbon Resins Market Outlook, By C9 Petroleum Resins (2021-2030) ($MN)
83 South America Hydrocarbon Resins Market Outlook, By C5/C9 Petroleum Resins (2021-2030) ($MN)
84 South America Hydrocarbon Resins Market Outlook, By Dicyclopentadiene (DCPD) Resins (2021-2030) ($MN)
85 South America Hydrocarbon Resins Market Outlook, By Other Types (2021-2030) ($MN)
86 South America Hydrocarbon Resins Market Outlook, By Application (2021-2030) ($MN)
87 South America Hydrocarbon Resins Market Outlook, By Adhesives and Sealants (2021-2030) ($MN)
88 South America Hydrocarbon Resins Market Outlook, By Printing Inks (2021-2030) ($MN)
89 South America Hydrocarbon Resins Market Outlook, By Rubber Compounding (2021-2030) ($MN)
90 South America Hydrocarbon Resins Market Outlook, By Paints and Coatings (2021-2030) ($MN)
91 South America Hydrocarbon Resins Market Outlook, By Tapes and Labels (2021-2030) ($MN)
92 South America Hydrocarbon Resins Market Outlook, By Building & Construction (2021-2030) ($MN)
93 South America Hydrocarbon Resins Market Outlook, By Personal Hygiene (2021-2030) ($MN)
94 South America Hydrocarbon Resins Market Outlook, By Tires (2021-2030) ($MN)
95 South America Hydrocarbon Resins Market Outlook, By Other Applications (2021-2030) ($MN)
96 Middle East & Africa Hydrocarbon Resins Market Outlook, By Country (2021-2030) ($MN)
97 Middle East & Africa Hydrocarbon Resins Market Outlook, By Type (2021-2030) ($MN)
98 Middle East & Africa Hydrocarbon Resins Market Outlook, By C5 Petroleum Resins (2021-2030) ($MN)
99 Middle East & Africa Hydrocarbon Resins Market Outlook, By Hydrogenated C5 Resins (2021-2030) ($MN)
100 Middle East & Africa Hydrocarbon Resins Market Outlook, By Non-Hydrogenated C5 Resins (2021-2030) ($MN)
101 Middle East & Africa Hydrocarbon Resins Market Outlook, By C9 Petroleum Resins (2021-2030) ($MN)
102 Middle East & Africa Hydrocarbon Resins Market Outlook, By C5/C9 Petroleum Resins (2021-2030) ($MN)
103 Middle East & Africa Hydrocarbon Resins Market Outlook, By Dicyclopentadiene (DCPD) Resins (2021-2030) ($MN)
104 Middle East & Africa Hydrocarbon Resins Market Outlook, By Other Types (2021-2030) ($MN)
105 Middle East & Africa Hydrocarbon Resins Market Outlook, By Application (2021-2030) ($MN)
106 Middle East & Africa Hydrocarbon Resins Market Outlook, By Adhesives and Sealants (2021-2030) ($MN)
107 Middle East & Africa Hydrocarbon Resins Market Outlook, By Printing Inks (2021-2030) ($MN)
108 Middle East & Africa Hydrocarbon Resins Market Outlook, By Rubber Compounding (2021-2030) ($MN)
109 Middle East & Africa Hydrocarbon Resins Market Outlook, By Paints and Coatings (2021-2030) ($MN)
110 Middle East & Africa Hydrocarbon Resins Market Outlook, By Tapes and Labels (2021-2030) ($MN)
111 Middle East & Africa Hydrocarbon Resins Market Outlook, By Building & Construction (2021-2030) ($MN)
112 Middle East & Africa Hydrocarbon Resins Market Outlook, By Personal Hygiene (2021-2030) ($MN)
113 Middle East & Africa Hydrocarbon Resins Market Outlook, By Tires (2021-2030) ($MN)
114 Middle East & Africa Hydrocarbon Resins 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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