Acetic Acid Market

Acetic Acid Market Size by Application (Purified Terephthalic Acid, Vinyl Acetate Monomer, Acetic Anhydride, Ester Solvents and Others), End-users (Plastics and Polymer, Paints and Coatings, Food and Beverage, Pharmaceutical, and Others), Distribution Channel (Direct and Indirect), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-12497
  • Published Date: Nov, 2023
  • Pages: 198
  • Category: Chemicals & Materials
  • Format: PDF
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The global acetic acid market was valued at USD 13.42 Billion in 2022 and grew at a CAGR of 8.33% from 2023 to 2032. The market is expected to reach USD 29.87 Billion by 2032. The demand for acetic acid is increasing among end-user industries, such as plastics, food and beverages, and pharmaceuticals.

Market Introduction:

The chemical compound acetic acid has the formula CH3COOH. Ethanoic acid is another name for acetic acid, and C2H4O2 is also its chemical formula. In vinegar, acetic acid and water are dissolved, and ethanoic acid makes up 5% to 20% of the total volume. Rubber, plastics, dyes, pesticides, cellulose acetate, photographic chemicals, vinyl acetate monomer, acetic esters, and chloroacetic acid are all made from acetic acid. The liquid form of acetic acid is colourless, transparent, and organic. Acetic acid is utilized as a solvent and raw material in the food and pharmaceutical industries, as well as in the manufacturing of various chemical goods and oil and gas. Methanol is carbonylated in an industrial setting to make acetic acid. Acetic acid undergoes chemical reactions comparable to those of other carboxylic acids.

Acetic Acid Market Size

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Market Dynamics:

Drivers

Increasing use in the food and beverages industry: The food sector mostly uses acetic acid, which is created by fermentation, in the form of vinegar. These days, vinegar is used in a wider variety of methods that are more creatively tailored to the cuisine and lifestyle of the present day. With multiple uses in the food industries, acetic acid is a commodity chemical with an annual global demand of over 15 million tonnes. It also functions as an acidulant, which gives food its distinct flavour profile. In the food business, it can be used as a moderate descaling agent and for microbiological decontamination of meat. Acetic acid has reportedly been utilized as an antibacterial food-coating agent more recently. The diverse food culture greatly aids the growth of this innovation, and acetic acid can be a useful remedy. The various acetic acid concentrations are employed as a food preservative and to enhance the flavour of foods with extended shelf lives.

Restraints:

Fluctuating cost of raw materials: The fluctuating cost of acetic acid is a restraint in the market. The medium and small-scale industries need help to cope with the capital cost of machinery and processing expenses. There are several costs associated with the manufacturing process of acetic acid. Costs of raw materials are rising, supply of them is tightening, and environmental compliance costs are rising.

Opportunities:

Expansion of the chemical industry: As more end users purchase appliances, automobiles, consumer goods, and other products that require chemicals. The demand for chemicals will continue to be high due to rising living standards and the growth of the middle class in emerging markets. Leading businesses are quickening their digital transformations through technology, processes, and people as the chemical sector searches for methods to stand out and prosper in a highly competitive, consolidated world. Chemicals have grown particularly significant to the economy's expansion, the main cause of the sector's remarkable recent growth. Additionally, they offer a fascinating and mostly unnoticed financial potential.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia-Pacific emerged as the most significant acetic acid market, with a 43.11% market revenue share in 2022.

Asia-Pacific region will account for the largest market share with revenue growth. Nations such as India, China and Japan have a tremendous demand for acetic acid due to growing usage in paint and coatings, textile, food and beverage, etc. Further, abundant raw materials have led to a high acetic acid production in the region. The regional food and beverages industry has a high demand for acetic acid in different food products and packaging. Further, many production companies are entering into joint ventures and mergers, providing lucrative opportunities for the acetic acid market.

Asia-Pacific region Acetic Acid Market Share in 2022 - 43.11%

 

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Application Segment Analysis

The application segment is divided into purified terephthalic acid, vinyl acetate monomer, acetic anhydride, ester solvents and others. The vinyl acetate monomer segment dominated the market, with a share of around 41.12% in 2022. Many water-based polymers require vinyl acetate monomers as fundamental building components. Ethylene is converted to vinyl acetate by reacting it with oxygen and acetic acid in the presence of a palladium catalyst. It is possible to polymerize vinyl acetate monomer using bulk, suspension, solution, or emulsion methods.

End-users Segment Analysis

The end-users segment is divided into plastics and polymer, paints and coatings, food and beverage, pharmaceuticals, and others. The paints and coatings segment dominated the market, with a share of around 39.93% in 2022. Acid is utilized to synthesize certain resins and as a pH regulator. It is present in many coatings, such as paints that are water-based. These solvents are widely utilized in oil-based paints and coatings, such as industrial coatings and oil-based enamels.

Distribution Channel Segment Analysis

The distribution channel segment is divided into direct and indirect. The indirect segment dominated the market, with a share of around 72.09% in 2022. A sales channel that involves the indirect selling of products and services from the producer to end users via independent intermediaries is known as an indirect channel. An indirect sales channel is one where there is a middleman between the producer and the final consumer.

Some of the Key Market Players:
  • Celanese Corporation
  • Eastman Chemical Company
  • LyondellBasell Industries Holdings B.V.
  • HELM AG
  • SABIC
  • Indian Oil Corporation Ltd.
  • DubiChem
  • DAICEL CORPORATION
  • INEOS
  • Pentokey Organy
  • Airedale Chemical Company Limited

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 13.42 Billion
Market size value in 2032 USD 29.87 Billion
CAGR (2023 to 2032) 8.33%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Application, End-users and Distribution Channel

Frequesntly Asked Questions

As per The Brainy Insights, the size of the acetic acid market was valued USD 13.42 billion in 2022 to USD 29.87 billion by 2032.

Global acetic acid market is growing at a CAGR of 8.33% during the forecast period 2023-2032.

Asia Pacific region emerged as the largest market for the acetic acid.

The market's growth will be influenced by the rising usage of acetic acid in different applications.

The fluctuating cost of raw materials can hamper the market growth.

The rising investment in chemical industry is providing lucrative opportunities to the market.

Key players are Celanese Corporation, Eastman Chemical Company, LyondellBasell Industries Holdings B.V., HELM AG, SABIC, Indian Oil Corporation Ltd., DubiChem, DAICEL CORPORATION, INEOS, Pentokey Organy, Airedale Chemical Company 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 Application
          4.3.2. Market Attractiveness Analysis by End-users
          4.3.3. Market Attractiveness Analysis by Distribution Channel
          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. Increasing use of acetic acid in different end-users
    5.3. Restraints
          5.3.1. Fluctuating cost of raw materials
    5.4. Opportunities
          5.4.1. Increasing investment in chemical industry
    5.5. Challenges
          5.5.1. Harmful exposure effects

6. Global Acetic Acid Market Analysis and Forecast, By Application
    6.1. Segment Overview
    6.2. Purified Terephthalic Acid
    6.3. Vinyl Acetate Monomer
    6.4. Acetic Anhydride
    6.5. Ester Solvents
    6.6. Others

7. Global Acetic Acid Market Analysis and Forecast, By End-users
    7.1. Segment Overview
    7.2. Plastics and Polymer
    7.3. Paints and Coatings
    7.4. Food and Beverage
    7.5. Pharmaceutical
    7.6. Others

8. Global Acetic Acid Market Analysis and Forecast, By Distribution Channel
    8.1. Segment Overview
    8.2. Direct
    8.3. Indirect

9. Global Acetic Acid 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 Acetic Acid Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Acetic Acid 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. Celanese Corporation
          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. Eastman Chemical Company
          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. LyondellBasell Industries Holdings B.V.
          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. HELM AG
          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. SABIC
          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. Indian Oil Corporation Ltd.
          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. DubiChem
          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. DAICEL CORPORATION
          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. INEOS
          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. Pentokey Organy
          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
    11.11. Airedale Chemical Company Limited
          11.11.1. Business Overview
          11.11.2. Company Snapshot
          11.11.3. Company Market Share Analysis
          11.11.4. Company Product Portfolio
          11.11.5. Recent Developments
          11.11.6. SWOT Analysis
 

List of Table

1. Global Acetic Acid Market, By Application, 2019-2032 (USD Billion) 

2. Global Purified Terephthalic Acid, Acetic Acid Market, By Region, 2019-2032 (USD Billion) 

3. Global Vinyl Acetate Monomer, Acetic Acid Market, By Region, 2019-2032 (USD Billion) 

4. Global Acetic Anhydride, Acetic Acid Market, By Region, 2019-2032 (USD Billion) 

5. Global Ester Solvents, Acetic Acid Market, By Region, 2019-2032 (USD Billion) 

6. Global Others, Acetic Acid Market, By Region, 2019-2032 (USD Billion) 

7. Global Acetic Acid Market, By End-users , 2019-2032 (USD Billion) 

8. Global Plastics and Polymer, Acetic Acid Market, By Region, 2019-2032 (USD Billion) 

9. Global Paints and Coatings, Acetic Acid Market, By Region, 2019-2032 (USD Billion) 

10. Global Food and Beverage, Acetic Acid Market, By Region, 2019-2032 (USD Billion) 

11. Global Pharmaceutical, Acetic Acid Market, By Region, 2019-2032 (USD Billion) 

12. Global Others, Acetic Acid Market, By Region, 2019-2032 (USD Billion) 

13. Global Acetic Acid Market, By Distribution Channel, 2019-2032 (USD Billion) 

14. Global Direct, Acetic Acid Market, By Region, 2019-2032 (USD Billion) 

15. Global Indirect, Acetic Acid Market, By Region, 2019-2032 (USD Billion) 

16. Global Acetic Acid Market, By Region, 2019-2032 (USD Billion) 

17. North America Acetic Acid Market, By Application, 2019-2032 (USD Billion) 

18. North America Acetic Acid Market, By End-users , 2019-2032 (USD Billion) 

19. North America Acetic Acid Market, By Distribution Channel, 2019-2032 (USD Billion)

20. U.S. Acetic Acid Market, By Application, 2019-2032 (USD Billion) 

21. U.S. Acetic Acid Market, By End-users , 2019-2032 (USD Billion) 

22. U.S. Acetic Acid Market, By Distribution Channel, 2019-2032 (USD Billion) 

23. Canada Acetic Acid Market, By Application, 2019-2032 (USD Billion) 

24. Canada Acetic Acid Market, By End-users , 2019-2032 (USD Billion) 

25. Canada Acetic Acid Market, By Distribution Channel, 2019-2032 (USD Billion) 

26. Mexico Acetic Acid Market, By Application, 2019-2032 (USD Billion) 

27. Mexico Acetic Acid Market, By End-users , 2019-2032 (USD Billion) 

28. Mexico Acetic Acid Market, By Distribution Channel, 2019-2032 (USD Billion) 

29. Europe Acetic Acid Market, By Application, 2019-2032 (USD Billion) 

30. Europe Acetic Acid Market, By End-users , 2019-2032 (USD Billion) 

31. Europe Acetic Acid Market, By Distribution Channel, 2019-2032 (USD Billion)

32. Germany Acetic Acid Market, By Application, 2019-2032 (USD Billion) 

33. Germany Acetic Acid Market, By End-users , 2019-2032 (USD Billion) 

34. Germany Acetic Acid Market, By Distribution Channel, 2019-2032 (USD Billion) 

35. France Acetic Acid Market, By Application, 2019-2032 (USD Billion) 

36. France Acetic Acid Market, By End-users , 2019-2032 (USD Billion) 

37. France Acetic Acid Market, By Distribution Channel, 2019-2032 (USD Billion) 

38. U.K. Acetic Acid Market, By Application, 2019-2032 (USD Billion) 

39. U.K. Acetic Acid Market, By End-users , 2019-2032 (USD Billion) 

40. U.K. Acetic Acid Market, By Distribution Channel, 2019-2032 (USD Billion) 

41. Italy Acetic Acid Market, By Application, 2019-2032 (USD Billion) 

42. Italy Acetic Acid Market, By End-users , 2019-2032 (USD Billion) 

43. Italy Acetic Acid Market, By Distribution Channel, 2019-2032 (USD Billion) 

44. Spain Acetic Acid Market, By Application, 2019-2032 (USD Billion) 

45. Spain Acetic Acid Market, By End-users , 2019-2032 (USD Billion) 

46. Spain Acetic Acid Market, By Distribution Channel, 2019-2032 (USD Billion) 

47. Asia Pacific Acetic Acid Market, By Application, 2019-2032 (USD Billion) 

48. Asia Pacific Acetic Acid Market, By End-users , 2019-2032 (USD Billion) 

49. Asia Pacific Acetic Acid Market, By Distribution Channel, 2019-2032 (USD Billion) 

50. Japan Acetic Acid Market, By Application, 2019-2032 (USD Billion) 

51. Japan Acetic Acid Market, By End-users , 2019-2032 (USD Billion) 

52. Japan Acetic Acid Market, By Distribution Channel, 2019-2032 (USD Billion)

53. China Acetic Acid Market, By Application, 2019-2032 (USD Billion) 

54. China Acetic Acid Market, By End-users , 2019-2032 (USD Billion) 

55. China Acetic Acid Market, By Distribution Channel, 2019-2032 (USD Billion) 

56. India Acetic Acid Market, By Application, 2019-2032 (USD Billion) 

57. India Acetic Acid Market, By End-users , 2019-2032 (USD Billion) 

58. India Acetic Acid Market, By Distribution Channel, 2019-2032 (USD Billion) 

59. South America Acetic Acid Market, By Application, 2019-2032 (USD Billion) 

60. South America Acetic Acid Market, By End-users , 2019-2032 (USD Billion) 

61. South America Acetic Acid Market, By Distribution Channel, 2019-2032 (USD Billion) 

62. Brazil Acetic Acid Market, By Application, 2019-2032 (USD Billion) 

63. Brazil Acetic Acid Market, By End-users , 2019-2032 (USD Billion) 

64. Brazil Acetic Acid Market, By Distribution Channel, 2019-2032 (USD Billion) 

65. Middle East and Africa Acetic Acid Market, By Application, 2019-2032 (USD Billion) 

66. Middle East and Africa Acetic Acid Market, By End-users , 2019-2032 (USD Billion) 

67. Middle East and Africa Acetic Acid Market, By Distribution Channel, 2019-2032 (USD Billion) 

68. UAE Acetic Acid Market, By Application, 2019-2032 (USD Billion) 

69. UAE Acetic Acid Market, By End-users , 2019-2032 (USD Billion) 

70. UAE Acetic Acid Market, By Distribution Channel, 2019-2032 (USD Billion) 

71. South Africa Acetic Acid Market, By Application, 2019-2032 (USD Billion) 

72. South Africa Acetic Acid Market, By End-users , 2019-2032 (USD Billion) 

73. South Africa Acetic Acid Market, By Distribution Channel, 2019-2032 (USD Billion) 

List of Figures

1. Global Acetic Acid Market Segmentation

2. Acetic Acid 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 Acetic Acid Market Attractiveness Analysis by Application

9. Global Acetic Acid Market Attractiveness Analysis by End-users 

10. Global Acetic Acid Market Attractiveness Analysis by Distribution Channel

11. Global Acetic Acid Market Attractiveness Analysis by Region

12. Global Acetic Acid Market: Dynamics

13. Global Acetic Acid Market Share by Application (2022 & 2032)

14. Global Acetic Acid Market Share by End-users  (2022 & 2032)

15. Global Acetic Acid Market Share by Distribution Channel (2022 & 2032)

16. Global Acetic Acid Market Share by Regions (2022 & 2032)

17. Global Acetic Acid Market Share by Company (2022)

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global acetic acid market based on below mentioned segments:

Global Acetic Acid Market by Application:

  • Purified Terephthalic Acid
  • Vinyl Acetate Monomer
  • Acetic Anhydride
  • Ester Solvents
  • Others

Global Acetic Acid Market by End-users:

  • Plastics and Polymer
  • Paints and Coatings
  • Food and Beverage
  • Pharmaceutical
  • Others  

Global Acetic Acid Market by Distribution Channel:

  • Direct
  • Indirect

Global Acetic acid 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.

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