Residential Decorative Concrete Market
Residential Decorative Concrete Market Forecasts to 2028 - Global Analysis By Product (Polished, Engraved, Stamped, Stained, Exposed, Epoxy, Coloured, Concrete Overlays and Other Products), Application (Floors, Patios, Walls, Pool Decks, Side Walks, Drive Ways and Other Applications) and End User( Residential, Non Residential and others)
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $16.5 BN |
|
Projected Year Value (2028) |
US $26.05 BN |
|
CAGR (2022 - 2028) |
7.9% |
|
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 |
|
Fastest Growing Market |
North America |
According to Stratistics MRC, the Global Residential Decorative Concrete Market is accounted for $16.5 billion in 2022 and is expected to reach $26.05 billion by 2028 growing at a CAGR of 7.90% during the forecast period. Decorative concrete is the utilization of concrete as an aesthetic improvement to a structure. It contains colour hardeners like cement, colour wax, aggregate broadcast, chemical stains, and sealers. Usual mopping or vacuuming will keep the decorative concrete floors clean and dust-free and it lasts for many decades. It provides a number of forms and styles to provide eye-catching appeal.
According to the National Association of Home Builders, decorative concrete is the most recognized and showcasing innovation. This concrete finishes can transform boring utilitarian concrete into expensive-looking without the high-end cost.
Market Dynamics:
Driver:
Increasing remodelling and renovation activity
Increasing ownership for constructed residential houses involves repairing and remodelling works on a large scale which increments the revenue output. Mostly hotels and resort owners are engaged in renovating their outlet structure to improve the customer base and experience. It mostly focuses on restoring something old into good repair. It helps in boosting the return on investments.
Restraint:
Changing architectural trends
Changing architectural and design trends are leading to more remodelling and renovation operations to improve the beauty of indoor and exterior housing structures, which is impacting the market growth. Balancing the client needs and personal design preferences affects the growth and connectivity.
Opportunity:
Growing acceptance of green construction concepts
Green construction is a concept that reduces or eliminates negative impacts, and can create positive impacts, on our climate and natural environment. Decorative concrete provides an opportunity to eliminate the cost of other floor coverings, such as carpeting, polyvinyl, laminates, wood and other wear surfaces that require replacement several times over the life of a building. As decorative cement is perceived as sustainable material it helps in solving environmental problems.
Threat:
Consumer preference for alternatives
Consumer always prefers brand loyalty, quality and price sensitivity. They only prefer as per the attractiveness and design. Once the taste of consumer differ, everything should be remodelled which takes lot of time consumption. They always look for smooth finishing and free of bumps. Cost is the main threat as the customer always prefers the less price product.
Covid-19 Impact
The pandemic of COVID-19 has had a huge impact on the decorative concrete market. This market has been impacted by slowed raw material production, supply chain disruption, impeded trade movements, declining construction demand, and lower demand for new projects as a result of COVID-19.The market witnessed nominal decline and the demand for new projects decreased.
The Non-residential segment is expected to be the largest during the forecast period
The Non-residential segment is estimated to have a lucrative growth, due to the increasing non-residential remodelling and refurbishment operations. It generates major demand for the flooring application. It was mostly preferred for driveways, patios, sidewalks. The rapid demand is due to longevity, esthetic appeal and high performance properties of the concrete.
The stamped concrete segment is expected to have the highest CAGR during the forecast period
The stamped concrete segment is anticipated to witness the fastest CAGR growth during the forecast period, due to its strong aesthetic appeal as well as resistance to sliding and wear and tear caused by heavy footfall. It has major demand in constructing hotel floors and other commercial buildings. It improves the esthetic appeal of an establishment or facility.
Region with highest share:
North America is projected to hold the largest market share during the forecast period owing to technological advancements in the architecture and construction industries. The use of ornamental and aesthetically pleasing flooring systems in domestic applications has been a major driver of the decorative concrete market.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to an increase in commercial projects as well as residential remodelling and renovation activities. Furthermore, the increasing average age of residences is expected to drive the expansion of the decorative concrete market in the region in the forthcoming years.
Key players in the market
Some of the key players profiled in the Residential Decorative Concrete Market include Heidelberg Cement AG, UltraTech Cement Ltd, CEMEX S.A.B. de C.V, LafargeHolcim Ltd, Breedon Group plc, Vicat, Summit Materials, Boral Ltd, RDC Concrete (India) Pvt Ltd, Oyak Beton, WG Wearne Limited, U.S. Concrete, Inc, CRH plc, River Sands Pty Ltd, Martin Marietta Materials Inc, PPG Industries Inc, BASF SE, 3M Company, Dupont, Arkema S.A, RPM International Inc
Key Developments:
In November 2021, UltraTech Cement Limited, the largest manufacturer of grey cement, white cement and ready-mix concrete in India, announced its commitment to the GCCA 2050 Cement and Concrete Industry Roadmap for Net Zero Concrete.
In November, 2022, DuPont officially launched a new line of wall coverings featuring DuPont™ Tedlar® in New York City. The new wall covering line features six new beautiful and functional patterns in more than 80 colour ways.
Products Covered:
• Polished
• Engraved
• Stamped
• Stained
• Exposed
• Epoxy
• Coloured
• Concrete Overlays
• Other Products
Applications Covered:
• Floors
• Patios
• Walls
• Pool Decks
• Side Walks
• Drive Ways
• Other Applications
End Users Covered:
• Residential
• Non-Residential
• 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 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 Residential Decorative Concrete Market, By Product
5.1 Introduction
5.2 Polished
5.3 Engraved
5.4 Stamped
5.5 Stained
5.6 Exposed
5.7 Epoxy
5.8 Coloured
5.9 Concrete Overlays
5.10 Other Products
6 Global Residential Decorative Concrete Market, By Application
6.1 Introduction
6.2 Floors
6.3 Patios
6.4 Walls
6.5 Pool Decks
6.6 Side Walks
6.7 Drive Ways
6.8 Other Applications
7 Global Residential Decorative Concrete Market, By End User
7.1 Introduction
7.2 Residential
7.3 Non Residential
7.4 Other End Users
8 Global Residential Decorative Concrete 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 Heidelberg Cement AG
10.2 UltraTech Cement Ltd
10.3 CEMEX S.A.B. de C.V
10.4 LafargeHolcim Ltd
10.5 Breedon Group plc
10.6 Vicat
10.7 Summit Materials
10.8 Boral Ltd
10.9 RDC Concrete (India) Pvt Ltd
10.10 Oyak Beton
10.11 WG Wearne Limited
10.12 U.S. Concrete, Inc
10.13 CRH plc
10.14 River Sands Pty Ltd
10.15 Martin Marietta Materials Inc
10.16 PPG Industries Inc
10.17 BASF SE
10.18 3M Company
10.19 Dupont
10.20 Arkema S.A
10.21 RPM International Inc
List of Tables
1 Global Residential Decorative Concrete Market Outlook, By Region (2020-2028) ($MN)
2 Global Residential Decorative Concrete Market Outlook, By Product (2020-2028) ($MN)
3 Global Residential Decorative Concrete Market Outlook, By Polished (2020-2028) ($MN)
4 Global Residential Decorative Concrete Market Outlook, By Engraved (2020-2028) ($MN)
5 Global Residential Decorative Concrete Market Outlook, By Stamped (2020-2028) ($MN)
6 Global Residential Decorative Concrete Market Outlook, By Stained (2020-2028) ($MN)
7 Global Residential Decorative Concrete Market Outlook, By Exposed (2020-2028) ($MN)
8 Global Residential Decorative Concrete Market Outlook, By Epoxy (2020-2028) ($MN)
9 Global Residential Decorative Concrete Market Outlook, By Coloured (2020-2028) ($MN)
10 Global Residential Decorative Concrete Market Outlook, By Concrete Overlays (2020-2028) ($MN)
11 Global Residential Decorative Concrete Market Outlook, By Other Products (2020-2028) ($MN)
12 Global Residential Decorative Concrete Market Outlook, By Application (2020-2028) ($MN)
13 Global Residential Decorative Concrete Market Outlook, By Floors (2020-2028) ($MN)
14 Global Residential Decorative Concrete Market Outlook, By Patios (2020-2028) ($MN)
15 Global Residential Decorative Concrete Market Outlook, By Walls (2020-2028) ($MN)
16 Global Residential Decorative Concrete Market Outlook, By Pool Decks (2020-2028) ($MN)
17 Global Residential Decorative Concrete Market Outlook, By Side Walks (2020-2028) ($MN)
18 Global Residential Decorative Concrete Market Outlook, By Drive Ways (2020-2028) ($MN)
19 Global Residential Decorative Concrete Market Outlook, By Other Applications (2020-2028) ($MN)
20 Global Residential Decorative Concrete Market Outlook, By End User (2020-2028) ($MN)
21 Global Residential Decorative Concrete Market Outlook, By Residential (2020-2028) ($MN)
22 Global Residential Decorative Concrete Market Outlook, By Non Residential (2020-2028) ($MN)
23 Global Residential Decorative Concrete Market Outlook, By Other End Users (2020-2028) ($MN)
24 North America Residential Decorative Concrete Market Outlook, By Country (2020-2028) ($MN)
25 North America Residential Decorative Concrete Market Outlook, By Product (2020-2028) ($MN)
26 North America Residential Decorative Concrete Market Outlook, By Polished (2020-2028) ($MN)
27 North America Residential Decorative Concrete Market Outlook, By Engraved (2020-2028) ($MN)
28 North America Residential Decorative Concrete Market Outlook, By Stamped (2020-2028) ($MN)
29 North America Residential Decorative Concrete Market Outlook, By Stained (2020-2028) ($MN)
30 North America Residential Decorative Concrete Market Outlook, By Exposed (2020-2028) ($MN)
31 North America Residential Decorative Concrete Market Outlook, By Epoxy (2020-2028) ($MN)
32 North America Residential Decorative Concrete Market Outlook, By Coloured (2020-2028) ($MN)
33 North America Residential Decorative Concrete Market Outlook, By Concrete Overlays (2020-2028) ($MN)
34 North America Residential Decorative Concrete Market Outlook, By Other Products (2020-2028) ($MN)
35 North America Residential Decorative Concrete Market Outlook, By Application (2020-2028) ($MN)
36 North America Residential Decorative Concrete Market Outlook, By Floors (2020-2028) ($MN)
37 North America Residential Decorative Concrete Market Outlook, By Patios (2020-2028) ($MN)
38 North America Residential Decorative Concrete Market Outlook, By Walls (2020-2028) ($MN)
39 North America Residential Decorative Concrete Market Outlook, By Pool Decks (2020-2028) ($MN)
40 North America Residential Decorative Concrete Market Outlook, By Side Walks (2020-2028) ($MN)
41 North America Residential Decorative Concrete Market Outlook, By Drive Ways (2020-2028) ($MN)
42 North America Residential Decorative Concrete Market Outlook, By Other Applications (2020-2028) ($MN)
43 North America Residential Decorative Concrete Market Outlook, By End User (2020-2028) ($MN)
44 North America Residential Decorative Concrete Market Outlook, By Residential (2020-2028) ($MN)
45 North America Residential Decorative Concrete Market Outlook, By Non Residential (2020-2028) ($MN)
46 North America Residential Decorative Concrete Market Outlook, By Other End Users (2020-2028) ($MN)
47 Europe Residential Decorative Concrete Market Outlook, By Country (2020-2028) ($MN)
48 Europe Residential Decorative Concrete Market Outlook, By Product (2020-2028) ($MN)
49 Europe Residential Decorative Concrete Market Outlook, By Polished (2020-2028) ($MN)
50 Europe Residential Decorative Concrete Market Outlook, By Engraved (2020-2028) ($MN)
51 Europe Residential Decorative Concrete Market Outlook, By Stamped (2020-2028) ($MN)
52 Europe Residential Decorative Concrete Market Outlook, By Stained (2020-2028) ($MN)
53 Europe Residential Decorative Concrete Market Outlook, By Exposed (2020-2028) ($MN)
54 Europe Residential Decorative Concrete Market Outlook, By Epoxy (2020-2028) ($MN)
55 Europe Residential Decorative Concrete Market Outlook, By Coloured (2020-2028) ($MN)
56 Europe Residential Decorative Concrete Market Outlook, By Concrete Overlays (2020-2028) ($MN)
57 Europe Residential Decorative Concrete Market Outlook, By Other Products (2020-2028) ($MN)
58 Europe Residential Decorative Concrete Market Outlook, By Application (2020-2028) ($MN)
59 Europe Residential Decorative Concrete Market Outlook, By Floors (2020-2028) ($MN)
60 Europe Residential Decorative Concrete Market Outlook, By Patios (2020-2028) ($MN)
61 Europe Residential Decorative Concrete Market Outlook, By Walls (2020-2028) ($MN)
62 Europe Residential Decorative Concrete Market Outlook, By Pool Decks (2020-2028) ($MN)
63 Europe Residential Decorative Concrete Market Outlook, By Side Walks (2020-2028) ($MN)
64 Europe Residential Decorative Concrete Market Outlook, By Drive Ways (2020-2028) ($MN)
65 Europe Residential Decorative Concrete Market Outlook, By Other Applications (2020-2028) ($MN)
66 Europe Residential Decorative Concrete Market Outlook, By End User (2020-2028) ($MN)
67 Europe Residential Decorative Concrete Market Outlook, By Residential (2020-2028) ($MN)
68 Europe Residential Decorative Concrete Market Outlook, By Non Residential (2020-2028) ($MN)
69 Europe Residential Decorative Concrete Market Outlook, By Other End Users (2020-2028) ($MN)
70 Asia Pacific Residential Decorative Concrete Market Outlook, By Country (2020-2028) ($MN)
71 Asia Pacific Residential Decorative Concrete Market Outlook, By Product (2020-2028) ($MN)
72 Asia Pacific Residential Decorative Concrete Market Outlook, By Polished (2020-2028) ($MN)
73 Asia Pacific Residential Decorative Concrete Market Outlook, By Engraved (2020-2028) ($MN)
74 Asia Pacific Residential Decorative Concrete Market Outlook, By Stamped (2020-2028) ($MN)
75 Asia Pacific Residential Decorative Concrete Market Outlook, By Stained (2020-2028) ($MN)
76 Asia Pacific Residential Decorative Concrete Market Outlook, By Exposed (2020-2028) ($MN)
77 Asia Pacific Residential Decorative Concrete Market Outlook, By Epoxy (2020-2028) ($MN)
78 Asia Pacific Residential Decorative Concrete Market Outlook, By Coloured (2020-2028) ($MN)
79 Asia Pacific Residential Decorative Concrete Market Outlook, By Concrete Overlays (2020-2028) ($MN)
80 Asia Pacific Residential Decorative Concrete Market Outlook, By Other Products (2020-2028) ($MN)
81 Asia Pacific Residential Decorative Concrete Market Outlook, By Application (2020-2028) ($MN)
82 Asia Pacific Residential Decorative Concrete Market Outlook, By Floors (2020-2028) ($MN)
83 Asia Pacific Residential Decorative Concrete Market Outlook, By Patios (2020-2028) ($MN)
84 Asia Pacific Residential Decorative Concrete Market Outlook, By Walls (2020-2028) ($MN)
85 Asia Pacific Residential Decorative Concrete Market Outlook, By Pool Decks (2020-2028) ($MN)
86 Asia Pacific Residential Decorative Concrete Market Outlook, By Side Walks (2020-2028) ($MN)
87 Asia Pacific Residential Decorative Concrete Market Outlook, By Drive Ways (2020-2028) ($MN)
88 Asia Pacific Residential Decorative Concrete Market Outlook, By Other Applications (2020-2028) ($MN)
89 Asia Pacific Residential Decorative Concrete Market Outlook, By End User (2020-2028) ($MN)
90 Asia Pacific Residential Decorative Concrete Market Outlook, By Residential (2020-2028) ($MN)
91 Asia Pacific Residential Decorative Concrete Market Outlook, By Non Residential (2020-2028) ($MN)
92 Asia Pacific Residential Decorative Concrete Market Outlook, By Other End Users (2020-2028) ($MN)
93 South America Residential Decorative Concrete Market Outlook, By Country (2020-2028) ($MN)
94 South America Residential Decorative Concrete Market Outlook, By Product (2020-2028) ($MN)
95 South America Residential Decorative Concrete Market Outlook, By Polished (2020-2028) ($MN)
96 South America Residential Decorative Concrete Market Outlook, By Engraved (2020-2028) ($MN)
97 South America Residential Decorative Concrete Market Outlook, By Stamped (2020-2028) ($MN)
98 South America Residential Decorative Concrete Market Outlook, By Stained (2020-2028) ($MN)
99 South America Residential Decorative Concrete Market Outlook, By Exposed (2020-2028) ($MN)
100 South America Residential Decorative Concrete Market Outlook, By Epoxy (2020-2028) ($MN)
101 South America Residential Decorative Concrete Market Outlook, By Coloured (2020-2028) ($MN)
102 South America Residential Decorative Concrete Market Outlook, By Concrete Overlays (2020-2028) ($MN)
103 South America Residential Decorative Concrete Market Outlook, By Other Products (2020-2028) ($MN)
104 South America Residential Decorative Concrete Market Outlook, By Application (2020-2028) ($MN)
105 South America Residential Decorative Concrete Market Outlook, By Floors (2020-2028) ($MN)
106 South America Residential Decorative Concrete Market Outlook, By Patios (2020-2028) ($MN)
107 South America Residential Decorative Concrete Market Outlook, By Walls (2020-2028) ($MN)
108 South America Residential Decorative Concrete Market Outlook, By Pool Decks (2020-2028) ($MN)
109 South America Residential Decorative Concrete Market Outlook, By Side Walks (2020-2028) ($MN)
110 South America Residential Decorative Concrete Market Outlook, By Drive Ways (2020-2028) ($MN)
111 South America Residential Decorative Concrete Market Outlook, By Other Applications (2020-2028) ($MN)
112 South America Residential Decorative Concrete Market Outlook, By End User (2020-2028) ($MN)
113 South America Residential Decorative Concrete Market Outlook, By Residential (2020-2028) ($MN)
114 South America Residential Decorative Concrete Market Outlook, By Non Residential (2020-2028) ($MN)
115 South America Residential Decorative Concrete Market Outlook, By Other End Users (2020-2028) ($MN)
116 Middle East & Africa Residential Decorative Concrete Market Outlook, By Country (2020-2028) ($MN)
117 Middle East & Africa Residential Decorative Concrete Market Outlook, By Product (2020-2028) ($MN)
118 Middle East & Africa Residential Decorative Concrete Market Outlook, By Polished (2020-2028) ($MN)
119 Middle East & Africa Residential Decorative Concrete Market Outlook, By Engraved (2020-2028) ($MN)
120 Middle East & Africa Residential Decorative Concrete Market Outlook, By Stamped (2020-2028) ($MN)
121 Middle East & Africa Residential Decorative Concrete Market Outlook, By Stained (2020-2028) ($MN)
122 Middle East & Africa Residential Decorative Concrete Market Outlook, By Exposed (2020-2028) ($MN)
123 Middle East & Africa Residential Decorative Concrete Market Outlook, By Epoxy (2020-2028) ($MN)
124 Middle East & Africa Residential Decorative Concrete Market Outlook, By Coloured (2020-2028) ($MN)
125 Middle East & Africa Residential Decorative Concrete Market Outlook, By Concrete Overlays (2020-2028) ($MN)
126 Middle East & Africa Residential Decorative Concrete Market Outlook, By Other Products (2020-2028) ($MN)
127 Middle East & Africa Residential Decorative Concrete Market Outlook, By Application (2020-2028) ($MN)
128 Middle East & Africa Residential Decorative Concrete Market Outlook, By Floors (2020-2028) ($MN)
129 Middle East & Africa Residential Decorative Concrete Market Outlook, By Patios (2020-2028) ($MN)
130 Middle East & Africa Residential Decorative Concrete Market Outlook, By Walls (2020-2028) ($MN)
131 Middle East & Africa Residential Decorative Concrete Market Outlook, By Pool Decks (2020-2028) ($MN)
132 Middle East & Africa Residential Decorative Concrete Market Outlook, By Side Walks (2020-2028) ($MN)
133 Middle East & Africa Residential Decorative Concrete Market Outlook, By Drive Ways (2020-2028) ($MN)
134 Middle East & Africa Residential Decorative Concrete Market Outlook, By Other Applications (2020-2028) ($MN)
135 Middle East & Africa Residential Decorative Concrete Market Outlook, By End User (2020-2028) ($MN)
136 Middle East & Africa Residential Decorative Concrete Market Outlook, By Residential (2020-2028) ($MN)
137 Middle East & Africa Residential Decorative Concrete Market Outlook, By Non Residential (2020-2028) ($MN)
138 Middle East & Africa Residential Decorative Concrete 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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