Abrasives Market

Abrasives Market Size by Raw Material (Natural, Synthetic), Type (Coated Abrasives, Bonded Abrasives, And Super Abrasives), End Use Industry, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2028

Base Year: 2020 Historical Data: 2018-19
  • Report ID: TBI-12551
  • Published Date: Oct, 2021
  • Pages: 234
  • Category: Chemicals & Materials
  • Format: PDF
Buy @ $4700.00 Request Sample PDF

The global abrasives market is expected to reach USD 66.71 billion by 2028, at a CAGR of 7.13% during the forecast period 2021-2028. Growing demand for abrasives from the automotive industry is driving the growth of global abrasives market.

Market Overview:

Abrasive materials refers to the hard crystals that are either found in nature or manufactured. This material is usually minerals, which are utilized to finish or shape work pieces through the tear, rubbing, or leading to wear. The most common material used as abrasives are boron nitride, silicon, aluminium, diamond, glass and walnut shells. These are specifically used in the metalworking as the abrasive grains can penetrate the hardest metal and alloys. The hardness of abrasive materials makes them suitable for working with the hardest materials such as glass, plastics, and stones. It is also used with soft materials such as rubber and wood.

Various applications of abrasives are including shaping, as in form grinding and tool sharpening; cleaning the surfaces by removing excess material, and sizing the material in precision grinding. The abrasives corrosion applications can be found in painting, printing, and coatings industries.  The abrasives are mainly classified into two types, such as natural and synthetic. Both types of abrasive materials are used in the various applications. Abrasive are usually supplies in the paste, powders, gains, and slurries form. The grain form of abrasives are classified on the basis of grain size. From the past few years, the manufacturing of abrasives are shifting from synthetic to naturals.  Increasing usage of abrasives for various end-use application is offering growth opportunities in the market.

Get an overview of this study by requesting a free sample

Market Dynamics:

Drivers:
  • Rise in demand for abrasives in the automotive sector

With the increasing technological advancement in the automotive industry, the need for abrasive are rising steadily. The abrasive materials play a vital role in the manufacturing of various components and parts in the automotive industry. The abrasives are used for the various applications, including polishing, coating, core sanding, and repair sanding. In addition to this, the abrasives are also used for cleaning, dusting, and polishing applications in the automotive industry. Thus, rising demand for abrasives in the automotive industry for various applications, driving the growth of the market.

  • The expansion of the manufacturing sector across the globe

The rapid increase in the manufacturing sectors in all over the world is one of the key contributing factors for the growth of the market. The manufacturing industry is always focused on the precision and accuracy of every part produced. Thus, to get the précised and accurate fining of parts, manufacturing sector is actively using abrasives materials. The abrasive materials provide the cleaning, coating, and finishing applications. Thus, the manufacturing industry is growing at a rapid pace, to meet the increasing demand, resulting in the rising demand for abrasives.

Restraints:
  • The high operating cost

The high operating cost of abrasive materials could hamper the growth of the market over the forecast period. The operating cost of abrasives are very high, as the raw materials required for the abrasives are imported from various countries. In addition to this, the high prices of these raw materials, further making it difficult for the vendors to gain the profit in the business.

Opportunities:
  • Technological advancement and product innovation in the abrasives market

Factors such as technological advancement and innovation in the product are likely to offer the various growth opportunities for the vendors in the global abrasives market.  For the industries such as metal fabrication and metalworking, there is a growing need for abrasive which have high performance. Thus, with the technological advancement, many vendors have developed the abrasives that cut faster and lasted longer than conventional crushed grain abrasives.

Challenges:
  • The high fluctuation in the raw material of abrasives

The fluctuation in the raw material prices which are required for the manufacturing of abrasives is one of the key challenges in the market. The raw materials necessary for the abrasives are aluminium, steel, and diamonds. The increase in the raw material prices results in high production cost. Therefore, fluctuation in raw material prices may hamper the growth of the market.

Segmentation Analysis:

The global abrasives market has been segmented based on raw material, type, end use industry, and regions.

  • The raw material type segment is divided into natural and synthetic. The natural segment accounted for the major market of 51.26% in the year 2020. This is mainly due to the increasing usage of natural raw materials for the manufacturing of abrasives. The abrasives made up from the natural raw materials are used in the various end-use verticals such as automotive, construction, and metal fabrication industry. Thus, high demand for natural raw materials for abrasives, driving the growth of the market.
  • The type segment includes coated abrasives, bonded abrasives, and super abrasives. Coated abrasives are projected to grow at the highest CAGR of 7.56% over the forecast period. The coated abrasives are a thin layer of grains which are attached to the substrates with the help of adhesives. The coated abrasives are available in the various formats such as roll, sheet and disks. Thus, increasing demand for coated abrasives driving the growth of the market.
  • The end-use industry segment includes aerospace, automotive, machinery, metal fabrication, electrical & electronics equipment, and others. The automotive segment dominated the global market and held the major market share of 39.68% in the year 2020. High adoption of abrasives in the manufacturing of automobile parts driving the growth of the market.
Regional Segmentation Analysis:

The regions analyzed for the global abrasives market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. The Asia Pacific region accounted for the major market of 53.56% in the year 2020.

  • The growth is mainly due to increasing abrasive usage in the various end-use industries such as automotive, metal fabrication, and construction industry. In addition to this, the presence of many local and global players in the countries such as India, Taiwan, and China, further boosting production of abrasives in the region. In the Asia Pacific region, China accounted for the major market share in the Asia Pacific region, due to the presence of many local manufacturers.
  • North America region is anticipated to grow at the prominent CAGR of 8.2% over the forecast period. The trend of Industry 4.0 and rising demand for abrasives in the automotive sector driving the growth of the market. U.S. and China are some of the prominent countries for the growth of the market in the North America region

Asia Pacific Abrasives Market Share in 2020 - 53.56%

 

www.thebrainyinsights.com

Check the geographical analysis of this market by requesting a free sample

Competitive Analysis:

In April 2015, Compagnie de Saint-Gobain S.A. announced that it has acquired the 70% stake in Brazil-based British Indústria e ComércioLtda, which manufactures and sells non-woven abrasives for industrial applications. This acquisition helps to strengthen the position of Compagnie de Saint-Gobain S.A. in market and will help to broaden the customer portfolio.

In March 2018, Fujimi Incorporated and Cabot Microelectronics Corporation, the supplier of chemical mechanical planarization (CMP) polishing slurries, announced the collaboration for the development of solution for the semiconductor industry.

List of Key Market Players:

  • Robert Bosch GMBH
  • 3M Company
  • Compagnie de Saint-Gobain S.A.
  • Fujimi Incorporated
  • Henkel
  • Tyrolit Group
  • Asahi Diamond Industrial
  • Deerfos
  • Sak Industries
  • Carborundum Universal Limited

Key Target Audience

  • Government Bodies
  • Technology Investors
  • Investors/Shareholders
  • Automobile OEMs
  • Construction companies
  • Metal Fabrication vendors

Report Description:

  • Global Abrasives Market, Industry Analysis, Trends, Analysis and Forecast, 2021 to 2028 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2020 is considered as the base year of the report. 2018 and 2019 are considered as the historic years and 2021 to 2028 are the forecast years. The global abrasives market is based on revenue (USD Million/Billion), volume (Kilotons), and price. The report incorporates the market study on the basis of revenue and volume. The study covers the market share revenue/market share/volume for each of the segments, regions and countries catering to global abrasives market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses with the relative data & information, which have been validated by the leading industry professionals and experts all across the globe. The research report also delivers an outline of the attractiveness of abrasives and regions which are deduced and formulated on the basis of their growth rate (CAGR), market size, and attractiveness by analyzing the present and future prospects to market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to global abrasives market. This offers vital and in depth insights in order to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global abrasives market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario. 
  • The report provides an elaborative assessment of the porter’s five forces analysis coupled with SWOT analysis so as to provide business related data and information’s. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company growth and development in order to sustain and survive in the long run.
  • Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which act as a key potential for the investors. 
  • Potential growth prospects along with the penetration rate analysis of the products (market related i.e., global abrasives market is covered in order to comprehend the adoption rate and evaluate the market size.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the abrasives market was valued at USD 38.87 billion in 2020 and is anticipated to reach USD 66.71 billion by 2028.

Global abrasives market is growing at a CAGR of 7.13% during the forecast period 2021-2028.

The global abrasives market has been segmented based on raw material, type, end use industry, and regions. The natural raw material segment led the abrasives market.

The Asia Pacific region emerged as the largest market for the abrasives.

The rapid increase in the manufacturing sectors in all over the world is one of the key contributing factor for the growth of market.

The high operating cost of abrasive materials could hamper the growth of the market over the forecast period.

Technological advancement and product innovation in the abrasives market are expected to offer the future growth opportunity in the market.

Key players are Tyrolit Group, Asahi Diamond Industrial, 3M Company, Robert Bosch GMBH, Compagnie de Saint-Gobain S.A., Henkel, Deerfos, Sak Industries, Fujimi Incorporated, and Carborundum Universal Limited among others.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Raw Material
          4.3.2. Market Attractiveness Analysis By Type
          4.3.3. Market Attractiveness Analysis By End Use
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Rise in demand for abrasives in the automotive sector
          5.2.2. The expansion of the manufacturing sector across the globe
    5.3. Restrains
          5.3.1. High operating cost
    5.4. Opportunities
          5.4.1. Increasing technological advancement and product innovation in the abrasives market
    5.5. Challenges
          5.5.1. Fluctuation in the raw material prices

6. Global Abrasives Market Analysis and Forecast, By Raw Material
    6.1. Segment Overview
    6.2. Natural
    6.3. Synthetic

7. Global Abrasives Market Analysis and Forecast, By Type
    7.1. Segment Overview
    7.2. Coated Abrasives
    7.3. Bonded Abrasive
    7.4. Super Abrasives

8. Global Abrasives Market Analysis and Forecast, By End Use
    8.1. Segment Overview
    8.2. Aerospace
    8.3. Automotive
    8.4. Machinery
    8.5. Metal Fabrication
    8.6. Electric and Electronic Component
    8.7. Others

9. Global Abrasives Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Abrasives Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Abrasives Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. 3M
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Tyrolit Group
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Asahi Diamond Industrial
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Robert Bosch GMBH
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Compagnie de Saint-Gobain S.A.
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Henkel
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Deerfos
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Sak Industries
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Fujimi Incorporated
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Carborundum Universal Limited
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
 

List of Table

1.Global Abrasives Market, By Raw Material, 2018–2028 (USD Billion) (Kilotons)

2.Global Natural, Abrasives  Market, By Region, 2018–2028 (USD Billion) (Kilotons)

3.Global Synthetic, Abrasives Market, By Region, 2018–2028 (USD Billion) (Kilotons)

4.Global Abrasives Market, By Type, 2018–2028 (USD Billion) (Kilotons)

5.Global Coated Abrasives Market, By Region, 2018–2028 (USD Billion) (Kilotons)

6.Global Bonded Abrasives Market, By Region, 2018–2028 (USD Billion) (Kilotons)

7.Global Super Abrasives Market, By Region, 2018–2028(USD Billion)

8.Global Abrasives Market, By End Use, 2018–2028 (USD Billion) (Kilotons)

9.Global Aerospace Abrasives Market, By Region, 2018–2028 (USD Billion) (Kilotons)

10.Global Automotive Abrasives Market, By Region, 2018–2028 (USD Billion) (Kilotons)

11.Global Machinery Abrasives Market, By Region, 2018–2028 (USD Billion) (Kilotons)

12.Global Metal Fabrication Abrasives Market, By Region, 2018–2028 (USD Billion) (Kilotons)

13.Global Electric and Electronic Component Abrasives Market, By Region, 2018–2028(USD Billion)

14.Global Others Abrasives Market, By Region, 2018–2028 (USD Billion) (Kilotons)

15.Global Abrasives Market, By Region, 2018–2028 (USD Billion) (Kilotons)

16.North America Abrasives Market, By Raw Material, 2018–2028 (USD Billion) (Kilotons)

17.North America Abrasives Market, By Type, 2018–2028 (USD Billion) (Kilotons)

18.North America Abrasives Market, By End Use, 2018–2028 (USD Billion) (Kilotons)

19.U.S. Abrasives Market, By Raw Material, 2018–2028 (USD Billion) (Kilotons)

20.U.S. Abrasives Market, By Type, 2018–2028 (USD Billion) (Kilotons)

21.U.S. Abrasives Market, By End Use, 2018–2028 (USD Billion) (Kilotons)

22.Canada Abrasives Market, By Raw Material, 2018–2028 (USD Billion) (Kilotons)

23.Canada Abrasives Market, By Type, 2018–2028 (USD Billion) (Kilotons)

24.Canada Abrasives Market, By End Use, 2018–2028 (USD Billion) (Kilotons)

25.Mexico Abrasives Market, By Raw Material, 2018–2028 (USD Billion) (Kilotons)

26.Mexico Abrasives Market, By Type, 2018–2028 (USD Billion) (Kilotons)

27.Mexico Abrasives Market, By End Use, 2018–2028 (USD Billion) (Kilotons)

28.Europe Abrasives Market, By Raw Material, 2018–2028 (USD Billion) (Kilotons)

29.Europe Abrasives Market, By Type, 2018–2028 (USD Billion) (Kilotons)

30.Europe Abrasives Market, By End Use, 2018–2028 (USD Billion) (Kilotons)

31.Germany Abrasives Market, By Raw Material, 2018–2028 (USD Billion) (Kilotons)

32.Germany Abrasives Market, By Type, 2018–2028 (USD Billion) (Kilotons)

33.Germany Abrasives Market, By End Use, 2018–2028 (USD Billion) (Kilotons)

34.France Abrasives Market, By Raw Material, 2018–2028 (USD Billion) (Kilotons)

35.France Abrasives Market, By Type, 2018–2028 (USD Billion) (Kilotons)

36.France Abrasives Market, By End Use, 2018–2028 (USD Billion) (Kilotons)

37.U.K. Abrasives Market, By Raw Material, 2018–2028 (USD Billion) (Kilotons)

38.U.K. Abrasives Market, By Type, 2018–2028 (USD Billion) (Kilotons)

39.U.K. Abrasives Market, By End Use, 2018–2028 (USD Billion) (Kilotons)

40.Italy Abrasives Market, By Raw Material, 2018–2028 (USD Billion) (Kilotons)

41.Italy Abrasives Market, By Type, 2018–2028 (USD Billion) (Kilotons)

42.Italy Abrasives Market, By End Use, 2018–2028 (USD Billion) (Kilotons)

43.Spain Abrasives Market, By Raw Material, 2018–2028 (USD Billion) (Kilotons)

44.Spain Abrasives Market, By Type, 2018–2028 (USD Billion) (Kilotons)

45.Spain Abrasives Market, By End Use, 2018–2028 (USD Billion) (Kilotons)

46.Asia Pacific Abrasives Market, By Raw Material, 2018–2028 (USD Billion) (Kilotons)

47.Asia Pacific Abrasives Market, By Type, 2018–2028 (USD Billion) (Kilotons)

48.Asia Pacific Abrasives Market, By End Use, 2018–2028 (USD Billion) (Kilotons)

49.Japan Abrasives Market, By Raw Material, 2018–2028 (USD Billion) (Kilotons)

50.Japan Abrasives Market, By Type, 2018–2028 (USD Billion) (Kilotons)

51.Japan Abrasives Market, By End Use, 2018–2028 (USD Billion) (Kilotons)

52.China Abrasives Market, By Raw Material, 2018–2028 (USD Billion) (Kilotons)

53.China Abrasives Market, By Type, 2018–2028 (USD Billion) (Kilotons)

54.China Abrasives Market, By End Use, 2018–2028 (USD Billion) (Kilotons)

55.India Abrasives Market, By Raw Material, 2018–2028 (USD Billion) (Kilotons)

56.India Abrasives Market, By Type, 2018–2028 (USD Billion) (Kilotons)

57.India Abrasives Market, By End Use, 2018–2028 (USD Billion) (Kilotons)

58.South America Abrasives Market, By Raw Material, 2018–2028 (USD Billion) (Kilotons)

59.South America Abrasives Market, By Type, 2018–2028 (USD Billion) (Kilotons)

60.South America Abrasives Market, By End Use, 2018–2028 (USD Billion) (Kilotons)

61.Brazil Abrasives Market, By Raw Material, 2018–2028 (USD Billion) (Kilotons)

62.Brazil Abrasives Market, By Type, 2018–2028 (USD Billion) (Kilotons)

63.Brazil Abrasives Market, By End Use, 2018–2028 (USD Billion) (Kilotons)

64.Middle East and Africa Abrasives Market, By Raw Material, 2018–2028 (USD Billion) (Kilotons)

65.Middle East and Africa Abrasives Market, By Type, 2018–2028 (USD Billion) (Kilotons)

66.Middle East and Africa Abrasives Market, By End Use, 2018–2028 (USD Billion) (Kilotons)

67.UAE Abrasives Market, By Raw Material, 2018–2028 (USD Billion) (Kilotons)

68.UAE Abrasives Market, By Type, 2018–2028 (USD Billion) (Kilotons)

69.UAE Abrasives Market, By End Use, 2018–2028 (USD Billion) (Kilotons)

70.South Africa Abrasives Market, By Raw Material, 2018–2028 (USD Billion) (Kilotons)

71.South Africa Abrasives Market, By Type, 2018–2028 (USD Billion) (Kilotons)

72.South Africa Abrasives Market, By End Use, 2018–2028 (USD Billion) (Kilotons)

List of Figures 

1.Global Abrasives Market Segmentation

2.Abrasives Market: Research Methodology

3.Market Size Estimation Methodology: Bottom-Up Approach

4.Market Size Estimation Methodology: Top-Down Approach

5.Data Triangulation

6.Porter’s Five Forces Analysis

7.Value Chain Analysis

8.Global Abrasives Market Attractiveness Analysis By Raw Material

9.Global Abrasives Market Attractiveness Analysis By Type

10.Global Abrasives Market Attractiveness Analysis By End Use

11.Global Abrasives Market Attractiveness Analysis By Region

12.Global Abrasives Market: Dynamics

13.Global Abrasives Market Share By Raw Material(2021 & 2028)

14.Global Abrasives Market Share By Type(2021 & 2028)

15.Global Abrasives Market Share By End Use(2021 & 2028)

16.Global Abrasives Market Share by Regions (2021 & 2028)

17.Global Abrasives Market Share by Company (2021)

This study forecasts revenue and volume growth at global, regional, and country levels from 2018 to 2028. The Brainy Insights has segmented the global abrasives market on the basis of below mentioned segments:

Global Abrasives Market by Raw Material:

  • Natural
  • Synthetic

Global Abrasives Market by Type:

  • Coated Abrasives
  • Bonded Abrasives
  • Super Abrasives

Global Abrasives Market by End Use Industry:

  • Aerospace
  • Automotive
  • Machinery
  • Metal Fabrication
  • Electrical & Electronics Equipment
  • Others

Global Abrasives Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

Some Facts About The Brainy Insights

50%

Free Customization

300+

Fortune 500 Clients

1

Free Yearly Update On Purchase Of Multi/Corporate License

900+

Companies Served Till Date