Specialty Polystyrene Resin Market
Speciality Polystyrene Resin Market Forecasts to 2028 - Global Analysis By Type (Super High Impact Polystyrene Resin, High Impact Polystyrene Resin and Medium Impact Polystyrene Resin), Function (Super High Impact Polystyrene Resin, High Impact Polystyrene Resin, Medium Impact Polystyrene Resin and Other Functions), Application (Automotive & Transportation, Building & Construction and Other Applications) and Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $127.38 MN |
|
Projected Year Value (2028) |
US $166.84 MN |
|
CAGR (2022 - 2028) |
4.6% |
|
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 Specialty Polystyrene Resin Market is accounted for $127.38 million in 2022 and is expected to reach $166.84 million by 2028 growing at a CAGR of 4.6% during the forecast period. Polystyrene is a synthetic aromatic polymer. It can be manufactured and used as a component of copolymers such as high-impact polystyrene (HIPS) and acrylonitrile butadiene styrene (ABS). Polystyrene is a transparent and brittle thermoplastic resin with low melting temperatures that is only suited for precision moulding of small parts or components. Specialty polystyrene resin is a significant polystyrene that is created for a variety of applications in industries such as building and construction, automotive, marine, furniture, electronics, and many others.
According to the China Association for Medical Device Industry, the medical device market size was recorded to be around ~USD 80 billion in 2019. About 70% of the growth was majorly fueled by hospital procurement.
Market Dynamics:
Driver:
Growth in demand from the packaging industry
Rise in demand for specialty polystyrene resin in packaging applications for protection of products during transportation is estimated to boost the growth of the segment. Specialty polystyrene resin provides physical and mechanical robustness in packing applications, and it is the most adaptable type of polymer foam. Because of its cross-linked structure, it is lightweight, composed of individual cells of low-density polystyrene, and has a high strength-to-weight ratio. It is useful in the food service and protective packaging applications. The demand for packaged products has increased recently, particularly in emerging economies such as China and India. The demand for packaged goods increased the consumption of specialty polystyrene for their packaging, driving the market.
Restraint:
Volatility in crude oil prices
Rapid change of price of crude oil and strict government regulations on construction are expected to hamper the demand for specialty polystyrene resin. Special raw materials and additives, along with state-of-art facility techniques, are used for the enhancement of polystyrene resin and thus called specialty polystyrene resin. Volatility is measured as the expected change in the price of an instrument in either direction. Even though the crude oil price will not affect the end price of specialty polystyrene resin to a larger extent, but in future, any rise in specialty polystyrene resin price can affect the profitability. A volatile crude oil price which leads to the price variation hampers the potential market growth.
Opportunity:
Easy recyclability of materials made out of polystyrene
The plastic's high insulating property enhances its demand from a variety of industries, including building and construction and packaging. However, the physical properties and chemical makeup of PS have resulted in a material with a huge volume and a low weight. Because of its weight, this plastic contributes significantly to landfill pollution and solid waste. Because of growing environmental concerns, organisations all over the world have taken steps to recycle specialty polystyrene resin goods and prevent the environmental risks that come with them. Germany, France, and Italy are the world's top plastic recyclers. Plastic made from recycled styrene monomers can be used safely in food and medical applications.
Threat:
Availability of high-performance substitutes
Because of its thermal insulation and lightweight qualities, speciality polystyrene resin has a wide range of industrial applications. However, the availability of substitutes is impeding market expansion. Because of their superior physical qualities, other plastics such as polyethylene and polypropylene are progressively replacing PS in packaging and automotive applications. Furthermore, the development of glass wool for thermal insulation in buildings influences product demand in the construction industry. Glass wool provides more efficient thermal insulation. Concerns about health and the environment, as well as a bad public impression of styrenic plastics in the areas, will influence demand.
Covid-19 Impact
The corona virus outbreak has temporarily slowed economic growth in many countries throughout the world. The specialised polystyrene resin market's revenue flow was negatively affected by these operational interruptions. China is a major player in the Asia Pacific specialty polystyrene resin industry. However, the majority of the resin facilities in China have been closed because of the corona virus. Furthermore, many Chinese speciality polystyrene resin manufacturers have reduced production. The advanced material sector has suffered the most as a result of the COVID-19 outbreak, as demand has fallen. This industry is crucial in the production of goods such as plastic, fertilisers, medications, and packaging materials.
The protection segment is expected to be the largest during the forecast period
The protection segment is estimated to have a lucrative growth, due to its cross-linked nature, polystyrene demonstrates high strength-to-weight with very high physical and mechanical strength. Protection function is of immense application value in the healthcare, electrical & electronics, and packaging sectors. Rising demand for specialty polystyrene resin in above mentioned applications for the protection of products during transportation is estimated to boost the growth of the segment.
The healthcare segment is expected to have the highest CAGR during the forecast period
The healthcare segment is anticipated to witness the fastest CAGR growth during the forecast period, because of the expanding population and the formation of an organised healthcare industry in emerging nations, there is a significant demand for healthcare products such as medical lab-ware, pharmaceutical products and components of medical devices, vacutainer trays, and packaging for critical pharmaceuticals. Due to its improved material qualities, specialised polystyrene resin can be conveniently used in highly specified end-use healthcare goods.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the factors such as the availability of low-cost labour and economical & accessible raw materials. The prevalence in demand for furniture, appliances, and automotive industries in developing countries will contribute to the growth of the region. This leads to an increase in investments thereby increasing the production of specialty polystyrene resin in the region. Asia-Pacific is expected to be the fastest-growing Specialty Polystyrene Resin Market.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to its well-established automotive and healthcare industry. The high quality of speciality polystyrene resins has resulted in brand awareness in this region. Because of its shape forming qualities, ease of moulding, and other diverse benefits, the product has uses in a variety of industries. In recent years, Europe has seen an increase in the usage of polystyrene in green building design applications due to its strong environmental benefits, which include increased durability, increased energy efficiency, and a better indoor atmosphere.
Key players in the market
Some of the key players profiled in the Specialty Polystyrene Resin Market include Synthos, NOVA Chemicals Corporation, BASF SE, Sekisui Plastics Co., Ltd., Atlas EPS, LG Chem, Ltd., VERSALIS, Styropek, BEWiSynbra Group AB, Sunpor Kunststoff GmbH, Taita Chemical Co. Ltd., Eastman Chemical Company, Pacur, Llc., JACKON Insulation GmbH, Atlas EPS, Total S.A. and Samsung Fine Chemicals Co., Ltd
Key Developments:
In June 2018, BASF SE announced plans for Neopor, an expandable graphite containing polystyrene, to raise its global production capacity to 40,000 tonnes / year. In the fourth quarter of 2018, BASF SE will increase production at facilities in Ludwigshafen, Germany, and Ulsan, in South Korea.
In March 2018, Atlanta, GA has acquired ACH Foam Technologies which is a leading North American manufacturer of molded polystyrene solutions with manufacturing facilities. With decades of experience, ACH Foam Technologies will help Atlanta, GA grow its global reach and sales. Atlanta also grew its polystyrene foam business in North America with this purchase and became one of the region's largest molded polystyrene manufacturers.
In August 2016, Synthos had acquired INEOS Styrenics European Holding BV (Switzerland)'s EPS business. Through this, the company accelerated growth and introduced additional benefits to both companies ' consumers, providing them with exposure to new technology and an improved product portfolio.
Types Covered:
• Super High Impact Polystyrene Resin
• High Impact Polystyrene Resin
• Medium Impact Polystyrene Resin
Functions Covered:
• Super High Impact Polystyrene Resin
• High Impact Polystyrene Resin
• Medium Impact Polystyrene Resin
Applications Covered:
• Automotive & Transportation
• Building & Construction
• Electrical & Electronics
• Healthcare
• Protective Packaging
• 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 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 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 Speciality Polystyrene Resin Market, By Type
5.1 Introduction
5.2 Super High Impact Polystyrene Resin
5.3 High Impact Polystyrene Resin
5.4 Medium Impact Polystyrene Resin
6 Global Speciality Polystyrene Resin Market, By Function
6.1 Introduction
6.2 Insulation
6.3 Cushioning
6.4 Protection
6.5 Other Functions
7 Global Speciality Polystyrene Resin Market, By Application
7.1 Introduction
7.2 Automotive & Transportation
7.3 Building & Construction
7.4 Electrical & Electronics
7.5 Healthcare
7.6 Protective Packaging
7.7 Other Applications
8 Global Speciality Polystyrene Resin 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 Synthos
10.2 NOVA Chemicals Corporation
10.3 BASF SE
10.4 Sekisui Plastics Co., Ltd.
10.5 Atlas EPS
10.6 LG Chem, Ltd.
10.7 VERSALIS
10.8 Styropek
10.9 BEWiSynbra Group AB
10.10 Sunpor Kunststoff GmbH
10.11 Taita Chemical Co. Ltd.
10.12 Eastman Chemical Company
10.13 Pacur, Llc.
10.14 JACKON Insulation GmbH
10.15 Atlas EPS
10.16 Total S.A.
10.17 Samsung Fine Chemicals Co., Ltd
List of Tables
1 Global Speciality Polystyrene Resin Market Outlook, By Region (2020-2028) ($MN)
2 Global Speciality Polystyrene Resin Market Outlook, By Type (2020-2028) ($MN)
3 Global Speciality Polystyrene Resin Market Outlook, By Super High Impact Polystyrene Resin (2020-2028) ($MN)
4 Global Speciality Polystyrene Resin Market Outlook, By High Impact Polystyrene Resin (2020-2028) ($MN)
5 Global Speciality Polystyrene Resin Market Outlook, By Medium Impact Polystyrene Resin (2020-2028) ($MN)
6 Global Speciality Polystyrene Resin Market Outlook, By Function (2020-2028) ($MN)
7 Global Speciality Polystyrene Resin Market Outlook, By Insulation (2020-2028) ($MN)
8 Global Speciality Polystyrene Resin Market Outlook, By Cushioning (2020-2028) ($MN)
9 Global Speciality Polystyrene Resin Market Outlook, By Protection (2020-2028) ($MN)
10 Global Speciality Polystyrene Resin Market Outlook, By Other Functions (2020-2028) ($MN)
11 Global Speciality Polystyrene Resin Market Outlook, By Application (2020-2028) ($MN)
12 Global Speciality Polystyrene Resin Market Outlook, By Automotive & Transportation (2020-2028) ($MN)
13 Global Speciality Polystyrene Resin Market Outlook, By Building & Construction (2020-2028) ($MN)
14 Global Speciality Polystyrene Resin Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
15 Global Speciality Polystyrene Resin Market Outlook, By Healthcare (2020-2028) ($MN)
16 Global Speciality Polystyrene Resin Market Outlook, By Protective Packaging (2020-2028) ($MN)
17 Global Speciality Polystyrene Resin Market Outlook, By Other Applications (2020-2028) ($MN)
18 North America Speciality Polystyrene Resin Market Outlook, By Country (2020-2028) ($MN)
19 North America Speciality Polystyrene Resin Market Outlook, By Type (2020-2028) ($MN)
20 North America Speciality Polystyrene Resin Market Outlook, By Super High Impact Polystyrene Resin (2020-2028) ($MN)
21 North America Speciality Polystyrene Resin Market Outlook, By High Impact Polystyrene Resin (2020-2028) ($MN)
22 North America Speciality Polystyrene Resin Market Outlook, By Medium Impact Polystyrene Resin (2020-2028) ($MN)
23 North America Speciality Polystyrene Resin Market Outlook, By Function (2020-2028) ($MN)
24 North America Speciality Polystyrene Resin Market Outlook, By Insulation (2020-2028) ($MN)
25 North America Speciality Polystyrene Resin Market Outlook, By Cushioning (2020-2028) ($MN)
26 North America Speciality Polystyrene Resin Market Outlook, By Protection (2020-2028) ($MN)
27 North America Speciality Polystyrene Resin Market Outlook, By Other Functions (2020-2028) ($MN)
28 North America Speciality Polystyrene Resin Market Outlook, By Application (2020-2028) ($MN)
29 North America Speciality Polystyrene Resin Market Outlook, By Automotive & Transportation (2020-2028) ($MN)
30 North America Speciality Polystyrene Resin Market Outlook, By Building & Construction (2020-2028) ($MN)
31 North America Speciality Polystyrene Resin Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
32 North America Speciality Polystyrene Resin Market Outlook, By Healthcare (2020-2028) ($MN)
33 North America Speciality Polystyrene Resin Market Outlook, By Protective Packaging (2020-2028) ($MN)
34 North America Speciality Polystyrene Resin Market Outlook, By Other Applications (2020-2028) ($MN)
35 Europe Speciality Polystyrene Resin Market Outlook, By Country (2020-2028) ($MN)
36 Europe Speciality Polystyrene Resin Market Outlook, By Type (2020-2028) ($MN)
37 Europe Speciality Polystyrene Resin Market Outlook, By Super High Impact Polystyrene Resin (2020-2028) ($MN)
38 Europe Speciality Polystyrene Resin Market Outlook, By High Impact Polystyrene Resin (2020-2028) ($MN)
39 Europe Speciality Polystyrene Resin Market Outlook, By Medium Impact Polystyrene Resin (2020-2028) ($MN)
40 Europe Speciality Polystyrene Resin Market Outlook, By Function (2020-2028) ($MN)
41 Europe Speciality Polystyrene Resin Market Outlook, By Insulation (2020-2028) ($MN)
42 Europe Speciality Polystyrene Resin Market Outlook, By Cushioning (2020-2028) ($MN)
43 Europe Speciality Polystyrene Resin Market Outlook, By Protection (2020-2028) ($MN)
44 Europe Speciality Polystyrene Resin Market Outlook, By Other Functions (2020-2028) ($MN)
45 Europe Speciality Polystyrene Resin Market Outlook, By Application (2020-2028) ($MN)
46 Europe Speciality Polystyrene Resin Market Outlook, By Automotive & Transportation (2020-2028) ($MN)
47 Europe Speciality Polystyrene Resin Market Outlook, By Building & Construction (2020-2028) ($MN)
48 Europe Speciality Polystyrene Resin Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
49 Europe Speciality Polystyrene Resin Market Outlook, By Healthcare (2020-2028) ($MN)
50 Europe Speciality Polystyrene Resin Market Outlook, By Protective Packaging (2020-2028) ($MN)
51 Europe Speciality Polystyrene Resin Market Outlook, By Other Applications (2020-2028) ($MN)
52 Asia Pacific Speciality Polystyrene Resin Market Outlook, By Country (2020-2028) ($MN)
53 Asia Pacific Speciality Polystyrene Resin Market Outlook, By Type (2020-2028) ($MN)
54 Asia Pacific Speciality Polystyrene Resin Market Outlook, By Super High Impact Polystyrene Resin (2020-2028) ($MN)
55 Asia Pacific Speciality Polystyrene Resin Market Outlook, By High Impact Polystyrene Resin (2020-2028) ($MN)
56 Asia Pacific Speciality Polystyrene Resin Market Outlook, By Medium Impact Polystyrene Resin (2020-2028) ($MN)
57 Asia Pacific Speciality Polystyrene Resin Market Outlook, By Function (2020-2028) ($MN)
58 Asia Pacific Speciality Polystyrene Resin Market Outlook, By Insulation (2020-2028) ($MN)
59 Asia Pacific Speciality Polystyrene Resin Market Outlook, By Cushioning (2020-2028) ($MN)
60 Asia Pacific Speciality Polystyrene Resin Market Outlook, By Protection (2020-2028) ($MN)
61 Asia Pacific Speciality Polystyrene Resin Market Outlook, By Other Functions (2020-2028) ($MN)
62 Asia Pacific Speciality Polystyrene Resin Market Outlook, By Application (2020-2028) ($MN)
63 Asia Pacific Speciality Polystyrene Resin Market Outlook, By Automotive & Transportation (2020-2028) ($MN)
64 Asia Pacific Speciality Polystyrene Resin Market Outlook, By Building & Construction (2020-2028) ($MN)
65 Asia Pacific Speciality Polystyrene Resin Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
66 Asia Pacific Speciality Polystyrene Resin Market Outlook, By Healthcare (2020-2028) ($MN)
67 Asia Pacific Speciality Polystyrene Resin Market Outlook, By Protective Packaging (2020-2028) ($MN)
68 Asia Pacific Speciality Polystyrene Resin Market Outlook, By Other Applications (2020-2028) ($MN)
69 South America Speciality Polystyrene Resin Market Outlook, By Country (2020-2028) ($MN)
70 South America Speciality Polystyrene Resin Market Outlook, By Type (2020-2028) ($MN)
71 South America Speciality Polystyrene Resin Market Outlook, By Super High Impact Polystyrene Resin (2020-2028) ($MN)
72 South America Speciality Polystyrene Resin Market Outlook, By High Impact Polystyrene Resin (2020-2028) ($MN)
73 South America Speciality Polystyrene Resin Market Outlook, By Medium Impact Polystyrene Resin (2020-2028) ($MN)
74 South America Speciality Polystyrene Resin Market Outlook, By Function (2020-2028) ($MN)
75 South America Speciality Polystyrene Resin Market Outlook, By Insulation (2020-2028) ($MN)
76 South America Speciality Polystyrene Resin Market Outlook, By Cushioning (2020-2028) ($MN)
77 South America Speciality Polystyrene Resin Market Outlook, By Protection (2020-2028) ($MN)
78 South America Speciality Polystyrene Resin Market Outlook, By Other Functions (2020-2028) ($MN)
79 South America Speciality Polystyrene Resin Market Outlook, By Application (2020-2028) ($MN)
80 South America Speciality Polystyrene Resin Market Outlook, By Automotive & Transportation (2020-2028) ($MN)
81 South America Speciality Polystyrene Resin Market Outlook, By Building & Construction (2020-2028) ($MN)
82 South America Speciality Polystyrene Resin Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
83 South America Speciality Polystyrene Resin Market Outlook, By Healthcare (2020-2028) ($MN)
84 South America Speciality Polystyrene Resin Market Outlook, By Protective Packaging (2020-2028) ($MN)
85 South America Speciality Polystyrene Resin Market Outlook, By Other Applications (2020-2028) ($MN)
86 Middle East & Africa Speciality Polystyrene Resin Market Outlook, By Country (2020-2028) ($MN)
87 Middle East & Africa Speciality Polystyrene Resin Market Outlook, By Type (2020-2028) ($MN)
88 Middle East & Africa Speciality Polystyrene Resin Market Outlook, By Super High Impact Polystyrene Resin (2020-2028) ($MN)
89 Middle East & Africa Speciality Polystyrene Resin Market Outlook, By High Impact Polystyrene Resin (2020-2028) ($MN)
90 Middle East & Africa Speciality Polystyrene Resin Market Outlook, By Medium Impact Polystyrene Resin (2020-2028) ($MN)
91 Middle East & Africa Speciality Polystyrene Resin Market Outlook, By Function (2020-2028) ($MN)
92 Middle East & Africa Speciality Polystyrene Resin Market Outlook, By Insulation (2020-2028) ($MN)
93 Middle East & Africa Speciality Polystyrene Resin Market Outlook, By Cushioning (2020-2028) ($MN)
94 Middle East & Africa Speciality Polystyrene Resin Market Outlook, By Protection (2020-2028) ($MN)
95 Middle East & Africa Speciality Polystyrene Resin Market Outlook, By Other Functions (2020-2028) ($MN)
96 Middle East & Africa Speciality Polystyrene Resin Market Outlook, By Application (2020-2028) ($MN)
97 Middle East & Africa Speciality Polystyrene Resin Market Outlook, By Automotive & Transportation (2020-2028) ($MN)
98 Middle East & Africa Speciality Polystyrene Resin Market Outlook, By Building & Construction (2020-2028) ($MN)
99 Middle East & Africa Speciality Polystyrene Resin Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
100 Middle East & Africa Speciality Polystyrene Resin Market Outlook, By Healthcare (2020-2028) ($MN)
101 Middle East & Africa Speciality Polystyrene Resin Market Outlook, By Protective Packaging (2020-2028) ($MN)
102 Middle East & Africa Speciality Polystyrene Resin Market Outlook, By Other Applications (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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