Neodymium Market
Neodymium Market Forecasts to 2028 - Global Analysis By Product (Neodymium Nitrate, Neodymium Metal and Neodymium Oxide), By Application (Magnets, Glass and Other Applications), By End User (Electrical & Electronics, Automotive, Healthcare, Wind Energy, General Industrial and Medical Devices) and Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $2.42 BN |
|
Projected Year Value (2028) |
US $6.21 BN |
|
CAGR (2022 - 2028) |
17.0% |
|
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 |
North America |
|
Highest Growing Market |
Europe |
According to Stratistics MRC, the Global Neodymium Market is accounted for $2.42 billion in 2022 and is expected to reach $6.21 billion by 2028 growing at a CAGR of 17.0% during the forecast period. Neodymium, which is one of the raw materials used to produce Neodymium-Iron-Boron (NdFeB), also referred to as NIB magnets, is widely used to make powerful magnets. Cell phones, laptops, wind turbines, toys, motors, audio systems, and medical equipment commonly use these magnets. Neodymium has enabled the electronics industry's ability to miniaturise due to the tremendous power of these magnets. High power lasers made of neodymium-doped yttrium aluminium garnet have a wide range of uses, including the treatment of skin cancer and laser hair removal. Due to neodymium's strong magnetic abilities, MRI scanners can produce precise images of the bone structure without the use of radiation.
According to the U.S. Geological Survey, 80% of rare earth imports in 2019 came from China. 110,000 tonnes of rare earth were produced in Chinese mines in 2020, accounting for more than 55% of all mining output worldwide.
Market Dynamics:
Driver:
Rise in Usage of Neodymium in Permanent Magnets
Hard disks, mobile phones, and the video and audio components of televisions all make extensive use of neodymium magnets. Magnetic separators, filters, and ionisers often use neodymium magnets. Additionally, they work on the development of security systems and on/off switches. To efficiently filter out iron powder in oil, grease filter producers use neodymium magnets in metal separators. They are used for producing magnetic tool belts as well as awnings on cars and machine covers. Additionally, they are used in badges and jewellery clips. They are also utilised in the production of baby strollers, which are attracted to carriers.
Restraint:
Availability of substitutes
The magnet uses lanthanum and cerium instead of dysprosium or neodymium, two less expensive rare-earth metals that lower the amount of neodymium in the magnet. Toyota developed a magnet that has the same heat resistance as older neodymium magnets while using up to 50% less neodymium, and they achieved this by developing new technologies that limit the degradation of coercivity and heat resistance even when neodymium is substituted with lanthanum and cerium.
Opportunity:
Demand for Neodymium in Green Energy Technologies
For energy production, neodymium is widely used. Because of global warming, several countries are striving to meet their energy requirements with green energy sources. Therefore, the use of solar and wind energy has increased. Large-scale wind farms require effective turbines to produce this energy. A unique rare-earth magnet known as neodymium is used in the internal motors of these wind turbines. The use of this rare-earth magnet in wind turbine motors has been made possible by special features that exist in the magnet.
Threat:
Fluctuations in the prices
Due to fluctuations in the price of raw materials, producers must determine whether to absorb additional costs or raise product pricing. Furthermore, the end-user industries have the major effect on the applications' demand. As a result, there are two sources of supply for neodymium metal, which raises the final price that manufacturers demand.
Covid-19 Impact:
The COVID-19 outbreak has spread to several nations worldwide, and the World Health Organization has declared it a public health emergency. The coronavirus disease's effects are already being seen on a global scale, and they will have a major impact on the market for neodymium (Nd). Due to the significant decrease in the supply of neodymium, restaurants have closed, and all indoor gatherings have been prohibited. The COVID-19 pandemic has also resulted in increased panic, stock market volatility, declining business confidence among the public, and uncertainty about the future.
The neodymium oxide segment is expected to be the largest during the forecast period
Due to its high-quality, insoluble, thermally stable neodymium source that is appropriate for ceramic, glass, and optical applications, the neodymium oxide segment seemed to have the largest revenue share during the forecast period. Some of the major uses are dielectrics, glass colouring, tinting, and lasers. As neodymium hydroxide or neodymium nitride is burned in the air, neodymium oxide is produced. Globally, around 7,000 metric tonnes of neodymium oxide are generated annually. There are several different forms of neodymium oxide, including tablets, pellets, bits, sputtering targets, and nanopowder.
The magnets segment is expected to have the highest CAGR during the forecast period
A permanent magnet is produced when neodymium, iron, and boron are combined. Small-size electronics like smartphones, loudspeakers, and computer hard drives, as well as many other consumer and automotive electrical products, have been produced. The neodymium market is anticipated to expand as a result of the rising middle-class populations and the rising demands of an increasing population in this segment.
Region with largest share:
Over the projection period, it is predicted that the expansion of the region's oil and gas industry will increase demand for catalysts in North America. For instance, the U.S. President required additional diesel and gasoline production from the nation's oil refineries. Refineries convert crude oil into refined fuels including jet fuel, diesel, and gasoline.
Region with highest CAGR:
HyProMag GmbH's foundation provides a strong platform for the region's businesses to grow. Europe's largest producer and consumer of rare earth magnets is Germany. Germany is able to supply primary rare earths. By developing local sources of recycled rare earth using the patented HPMS, there is a significant chance to diversify and strengthen the development of a more reliable rare earth supply chain in Europe.
Key players in the market
Some of the key players in Neodymium market include Rainbow Rare Earths Limited, HEFA Rare Earth, China Rare Earth Holdings Limited, Lenntech Water Treatment Solutions, Peak Rare Earths, Texas Mineral Resources Corp., Arafura Resources, Greenland Minerals Ltd., MP Materials, China Minmetals Rare Earth Co. Ltd, Neo Performance Materials Inc, Lynas Rare Earths Ltd, Australian Strategic Materials Ltd, Noah Technologies Corporation and Metall Rare Earth Limited.
Key Developments:
In March 2022, Mkango Resources Ltd. announced that it has successfully produced neodymium and praseodymium enriched rare earth carbonate for the Songwe Hill Rare Earths Project in Malawi from the final stages of hydrometallurgical piloting at ANSTO in Australia.
In December 2021, General Motors (GM) Co. announced its plans to source rare-earth magnets for its future EVs from two new U.S.-based rare-earth material mining companies, including MP Materials Inc. and Vacuumschmelze, under two separate business agreements. As part of the company’s agreement with MP Materials Inc., MP Materials will build a neodymium magnet (NdFeB) production facility in Texas by 2023, to supply magnets for up to 500,000 electric vehicle motors. The financial terms of the agreement were not disclosed by GM.
Products Covered:
• Neodymium Nitrate
• Neodymium Metal
• Neodymium Oxide
Applications Covered:
• Magnets
• Glass
• Catalysts
• Lasers
• Ceramics
• Electric Capacitors
• Phosphors & Luminescence
• Metallurgy
End Users Covered:
• Electrical & Electronics
• Automotive
• Healthcare
• Wind Energy
• General Industrial
• Medical Devices
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
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 End User Analysis
3.9 Emerging Markets
3.10 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 Neodymium Market, By Product
5.1 Introduction
5.2 Neodymium Nitrate
5.3 Neodymium Metal
5.4 Neodymium Oxide
6 Global Neodymium Market, By Application
6.1 Introduction
6.2 Magnets
6.2.1 Sintered Magnets
6.2.2 Bonded Magnets
6.3 Glass
6.4 Catalysts
6.5 Lasers
6.6 Ceramics
6.7 Electric Capacitors
6.8 Phosphors & Luminescence
6.9 Metallurgy
7 Global Neodymium Market, By End User
7.1 Introduction
7.2 Electrical & Electronics
7.3 Automotive
7.4 Healthcare
7.5 Wind Energy
7.6 General Industrial
7.7 Medical Devices
8 Global Neodymium 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 Rainbow Rare Earths Limited
10.2 HEFA Rare Earth
10.3 China Rare Earth Holdings Limited
10.4 Lenntech Water Treatment Solutions
10.5 Peak Rare Earths
10.6 Texas Mineral Resources Corp.
10.7 Arafura Resources
10.8 Greenland Minerals Ltd.
10.9 MP Materials
10.10 China Minmetals Rare Earth Co. Ltd
10.11 Neo Performance Materials Inc
10.12 Lynas Rare Earths Ltd
10.13 Australian Strategic Materials Ltd
10.14 Noah Technologies Corporation
10.15 Metall Rare Earth Limited
List of Tables
1 Global Neodymium Market Outlook, By Region (2020-2028) ($MN)
2 Global Neodymium Market Outlook, By Product (2020-2028) ($MN)
3 Global Neodymium Market Outlook, By Neodymium Nitrate (2020-2028) ($MN)
4 Global Neodymium Market Outlook, By Neodymium Metal (2020-2028) ($MN)
5 Global Neodymium Market Outlook, By Neodymium Oxide (2020-2028) ($MN)
6 Global Neodymium Market Outlook, By Application (2020-2028) ($MN)
7 Global Neodymium Market Outlook, By Magnets (2020-2028) ($MN)
8 Global Neodymium Market Outlook, By Sintered Magnets (2020-2028) ($MN)
9 Global Neodymium Market Outlook, By Bonded Magnets (2020-2028) ($MN)
10 Global Neodymium Market Outlook, By Glass (2020-2028) ($MN)
11 Global Neodymium Market Outlook, By Catalysts (2020-2028) ($MN)
12 Global Neodymium Market Outlook, By Lasers (2020-2028) ($MN)
13 Global Neodymium Market Outlook, By Ceramics (2020-2028) ($MN)
14 Global Neodymium Market Outlook, By Electric Capacitors (2020-2028) ($MN)
15 Global Neodymium Market Outlook, By Phosphors & Luminescence (2020-2028) ($MN)
16 Global Neodymium Market Outlook, By Metallurgy (2020-2028) ($MN)
17 Global Neodymium Market Outlook, By End User (2020-2028) ($MN)
18 Global Neodymium Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
19 Global Neodymium Market Outlook, By Automotive (2020-2028) ($MN)
20 Global Neodymium Market Outlook, By Healthcare (2020-2028) ($MN)
21 Global Neodymium Market Outlook, By Wind Energy (2020-2028) ($MN)
22 Global Neodymium Market Outlook, By General Industrial (2020-2028) ($MN)
23 Global Neodymium Market Outlook, By Medical Devices (2020-2028) ($MN)
24 North America Neodymium Market Outlook, By Country (2020-2028) ($MN)
25 North America Neodymium Market Outlook, By Product (2020-2028) ($MN)
26 North America Neodymium Market Outlook, By Neodymium Nitrate (2020-2028) ($MN)
27 North America Neodymium Market Outlook, By Neodymium Metal (2020-2028) ($MN)
28 North America Neodymium Market Outlook, By Neodymium Oxide (2020-2028) ($MN)
29 North America Neodymium Market Outlook, By Application (2020-2028) ($MN)
30 North America Neodymium Market Outlook, By Magnets (2020-2028) ($MN)
31 North America Neodymium Market Outlook, By Sintered Magnets (2020-2028) ($MN)
32 North America Neodymium Market Outlook, By Bonded Magnets (2020-2028) ($MN)
33 North America Neodymium Market Outlook, By Glass (2020-2028) ($MN)
34 North America Neodymium Market Outlook, By Catalysts (2020-2028) ($MN)
35 North America Neodymium Market Outlook, By Lasers (2020-2028) ($MN)
36 North America Neodymium Market Outlook, By Ceramics (2020-2028) ($MN)
37 North America Neodymium Market Outlook, By Electric Capacitors (2020-2028) ($MN)
38 North America Neodymium Market Outlook, By Phosphors & Luminescence (2020-2028) ($MN)
39 North America Neodymium Market Outlook, By Metallurgy (2020-2028) ($MN)
40 North America Neodymium Market Outlook, By End User (2020-2028) ($MN)
41 North America Neodymium Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
42 North America Neodymium Market Outlook, By Automotive (2020-2028) ($MN)
43 North America Neodymium Market Outlook, By Healthcare (2020-2028) ($MN)
44 North America Neodymium Market Outlook, By Wind Energy (2020-2028) ($MN)
45 North America Neodymium Market Outlook, By General Industrial (2020-2028) ($MN)
46 North America Neodymium Market Outlook, By Medical Devices (2020-2028) ($MN)
47 Europe Neodymium Market Outlook, By Country (2020-2028) ($MN)
48 Europe Neodymium Market Outlook, By Product (2020-2028) ($MN)
49 Europe Neodymium Market Outlook, By Neodymium Nitrate (2020-2028) ($MN)
50 Europe Neodymium Market Outlook, By Neodymium Metal (2020-2028) ($MN)
51 Europe Neodymium Market Outlook, By Neodymium Oxide (2020-2028) ($MN)
52 Europe Neodymium Market Outlook, By Application (2020-2028) ($MN)
53 Europe Neodymium Market Outlook, By Magnets (2020-2028) ($MN)
54 Europe Neodymium Market Outlook, By Sintered Magnets (2020-2028) ($MN)
55 Europe Neodymium Market Outlook, By Bonded Magnets (2020-2028) ($MN)
56 Europe Neodymium Market Outlook, By Glass (2020-2028) ($MN)
57 Europe Neodymium Market Outlook, By Catalysts (2020-2028) ($MN)
58 Europe Neodymium Market Outlook, By Lasers (2020-2028) ($MN)
59 Europe Neodymium Market Outlook, By Ceramics (2020-2028) ($MN)
60 Europe Neodymium Market Outlook, By Electric Capacitors (2020-2028) ($MN)
61 Europe Neodymium Market Outlook, By Phosphors & Luminescence (2020-2028) ($MN)
62 Europe Neodymium Market Outlook, By Metallurgy (2020-2028) ($MN)
63 Europe Neodymium Market Outlook, By End User (2020-2028) ($MN)
64 Europe Neodymium Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
65 Europe Neodymium Market Outlook, By Automotive (2020-2028) ($MN)
66 Europe Neodymium Market Outlook, By Healthcare (2020-2028) ($MN)
67 Europe Neodymium Market Outlook, By Wind Energy (2020-2028) ($MN)
68 Europe Neodymium Market Outlook, By General Industrial (2020-2028) ($MN)
69 Europe Neodymium Market Outlook, By Medical Devices (2020-2028) ($MN)
70 Asia Pacific Neodymium Market Outlook, By Country (2020-2028) ($MN)
71 Asia Pacific Neodymium Market Outlook, By Product (2020-2028) ($MN)
72 Asia Pacific Neodymium Market Outlook, By Neodymium Nitrate (2020-2028) ($MN)
73 Asia Pacific Neodymium Market Outlook, By Neodymium Metal (2020-2028) ($MN)
74 Asia Pacific Neodymium Market Outlook, By Neodymium Oxide (2020-2028) ($MN)
75 Asia Pacific Neodymium Market Outlook, By Application (2020-2028) ($MN)
76 Asia Pacific Neodymium Market Outlook, By Magnets (2020-2028) ($MN)
77 Asia Pacific Neodymium Market Outlook, By Sintered Magnets (2020-2028) ($MN)
78 Asia Pacific Neodymium Market Outlook, By Bonded Magnets (2020-2028) ($MN)
79 Asia Pacific Neodymium Market Outlook, By Glass (2020-2028) ($MN)
80 Asia Pacific Neodymium Market Outlook, By Catalysts (2020-2028) ($MN)
81 Asia Pacific Neodymium Market Outlook, By Lasers (2020-2028) ($MN)
82 Asia Pacific Neodymium Market Outlook, By Ceramics (2020-2028) ($MN)
83 Asia Pacific Neodymium Market Outlook, By Electric Capacitors (2020-2028) ($MN)
84 Asia Pacific Neodymium Market Outlook, By Phosphors & Luminescence (2020-2028) ($MN)
85 Asia Pacific Neodymium Market Outlook, By Metallurgy (2020-2028) ($MN)
86 Asia Pacific Neodymium Market Outlook, By End User (2020-2028) ($MN)
87 Asia Pacific Neodymium Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
88 Asia Pacific Neodymium Market Outlook, By Automotive (2020-2028) ($MN)
89 Asia Pacific Neodymium Market Outlook, By Healthcare (2020-2028) ($MN)
90 Asia Pacific Neodymium Market Outlook, By Wind Energy (2020-2028) ($MN)
91 Asia Pacific Neodymium Market Outlook, By General Industrial (2020-2028) ($MN)
92 Asia Pacific Neodymium Market Outlook, By Medical Devices (2020-2028) ($MN)
93 South America Neodymium Market Outlook, By Country (2020-2028) ($MN)
94 South America Neodymium Market Outlook, By Product (2020-2028) ($MN)
95 South America Neodymium Market Outlook, By Neodymium Nitrate (2020-2028) ($MN)
96 South America Neodymium Market Outlook, By Neodymium Metal (2020-2028) ($MN)
97 South America Neodymium Market Outlook, By Neodymium Oxide (2020-2028) ($MN)
98 South America Neodymium Market Outlook, By Application (2020-2028) ($MN)
99 South America Neodymium Market Outlook, By Magnets (2020-2028) ($MN)
100 South America Neodymium Market Outlook, By Sintered Magnets (2020-2028) ($MN)
101 South America Neodymium Market Outlook, By Bonded Magnets (2020-2028) ($MN)
102 South America Neodymium Market Outlook, By Glass (2020-2028) ($MN)
103 South America Neodymium Market Outlook, By Catalysts (2020-2028) ($MN)
104 South America Neodymium Market Outlook, By Lasers (2020-2028) ($MN)
105 South America Neodymium Market Outlook, By Ceramics (2020-2028) ($MN)
106 South America Neodymium Market Outlook, By Electric Capacitors (2020-2028) ($MN)
107 South America Neodymium Market Outlook, By Phosphors & Luminescence (2020-2028) ($MN)
108 South America Neodymium Market Outlook, By Metallurgy (2020-2028) ($MN)
109 South America Neodymium Market Outlook, By End User (2020-2028) ($MN)
110 South America Neodymium Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
111 South America Neodymium Market Outlook, By Automotive (2020-2028) ($MN)
112 South America Neodymium Market Outlook, By Healthcare (2020-2028) ($MN)
113 South America Neodymium Market Outlook, By Wind Energy (2020-2028) ($MN)
114 South America Neodymium Market Outlook, By General Industrial (2020-2028) ($MN)
115 South America Neodymium Market Outlook, By Medical Devices (2020-2028) ($MN)
116 Middle East & Africa Neodymium Market Outlook, By Country (2020-2028) ($MN)
117 Middle East & Africa Neodymium Market Outlook, By Product (2020-2028) ($MN)
118 Middle East & Africa Neodymium Market Outlook, By Neodymium Nitrate (2020-2028) ($MN)
119 Middle East & Africa Neodymium Market Outlook, By Neodymium Metal (2020-2028) ($MN)
120 Middle East & Africa Neodymium Market Outlook, By Neodymium Oxide (2020-2028) ($MN)
121 Middle East & Africa Neodymium Market Outlook, By Application (2020-2028) ($MN)
122 Middle East & Africa Neodymium Market Outlook, By Magnets (2020-2028) ($MN)
123 Middle East & Africa Neodymium Market Outlook, By Sintered Magnets (2020-2028) ($MN)
124 Middle East & Africa Neodymium Market Outlook, By Bonded Magnets (2020-2028) ($MN)
125 Middle East & Africa Neodymium Market Outlook, By Glass (2020-2028) ($MN)
126 Middle East & Africa Neodymium Market Outlook, By Catalysts (2020-2028) ($MN)
127 Middle East & Africa Neodymium Market Outlook, By Lasers (2020-2028) ($MN)
128 Middle East & Africa Neodymium Market Outlook, By Ceramics (2020-2028) ($MN)
129 Middle East & Africa Neodymium Market Outlook, By Electric Capacitors (2020-2028) ($MN)
130 Middle East & Africa Neodymium Market Outlook, By Phosphors & Luminescence (2020-2028) ($MN)
131 Middle East & Africa Neodymium Market Outlook, By Metallurgy (2020-2028) ($MN)
132 Middle East & Africa Neodymium Market Outlook, By End User (2020-2028) ($MN)
133 Middle East & Africa Neodymium Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
134 Middle East & Africa Neodymium Market Outlook, By Automotive (2020-2028) ($MN)
135 Middle East & Africa Neodymium Market Outlook, By Healthcare (2020-2028) ($MN)
136 Middle East & Africa Neodymium Market Outlook, By Wind Energy (2020-2028) ($MN)
137 Middle East & Africa Neodymium Market Outlook, By General Industrial (2020-2028) ($MN)
138 Middle East & Africa Neodymium Market Outlook, By Medical Devices (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.
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