Activated Carbon Market

Activated Carbon Market Size by Application (Gas-Phase Application and Liquid-Phase Application), Product Type (Powdered Activated Carbon, Granular Activated Carbon, and Others), End-User Industry, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-12853
  • Published Date: Jul, 2022
  • Pages: 235
  • Category: Chemicals & Materials
  • Format: PDF
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The global activated carbon market is expected to reach USD 5.98 billion by 2030, at a CAGR of 5.56% from 2022 to 2030. Activated carbon market growth would be driven by the growing demand for water purification technologies, given the rising world population and depleting freshwater resources. Rapid urbanization & industrialization are the primary factors responsible for the increasing need for water purification. The new technological advancements have paved the way for the development of improved grades of activated carbon that are more efficient, and this development  will also contribute to the market's growth. Given its rising applications, the growing demand for activated carbon in the automotive, pharmaceutical, and food & beverage industries will also contribute to the development of the activated carbon market.

Market Overview:

Carbon is an element with 6 electrons. Carbon is a non-metal. It has 6 electrons and 6 protons. The outermost orbit of the carbon atom has 4 electrons and this property of carbon is called tetravalency. It only forms a covalent bond because of the tetravalency. The study of carbon and its compound is called organic chemistry. Carbon forms the basis of all living organisms, meaning it is present in different amounts in all living beings, including plants and animals. Carbon bonds with others elements like hydrogen, oxygen, and nitrogen to form the organic compounds found in living organisms. Carbon can bond with itself, creating long chains; this property of carbon is called catenation. Activated carbon is a form of carbon that is treated in a tank without oxygen at high temperatures. The treatment increases the surface area of the carbon by reducing the particle size. The reduction in particle size makes it more adsorptive and suitable for filtration. Activated carbon is chemically inert and hence stable. Activated carbon removes unwanted foreign particles from gases, liquids, and solids. It is used to purify municipal drinking water, deodorization, and control industrial pollution. It also stores hydrogen for decaffeination, gold purification, and solvent recovery.

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Market Dynamics:

Drivers:
  • The rising world population coupled with decreasing potable water resources

The growing world population, rapid urbanization & industrialization has increased the demand for potable water. Water finds its applications in households, commercial sectors, manufacturing & construction. The existing freshwater supply on earth cannot meet the growing water demand. These resources are already over-exploited, which has led to their depletion and scarcity of water across the globe. The release of industrial effluents and other anthropogenic activities has led to water pollution, making it unsuitable for consumption. Activated carbon is used for treating contaminated water; it removes unwanted foreign particles and makes the water fit for consumption. Similarly, it is also used for processing industrial water before it is released into the natural water bodies to prevent water pollution. The cost-effective, accessible, simple application and environmentally friendly nature of activated carbon make it the ideal choice for water treatment.

Restraints:
  • The uncertain supply of raw materials

The raw materials used to manufacture activated carbon are coal, wood, peat, and coconut shells. Coconut shells are primarily used for the production of activated carbon. However, the fluctuations in the supply of coconut shells, given its broad scope of application in other industries like steel, oil, iron, electricity, and cement, will hamper the market's growth.

Opportunities:
  • The growing number of applications  

Activated carbon is primarily used in treating water to make it fit for consumption. It is used to treat industrial discharge before it is released into the natural water bodies to reduce water pollution. With rapid industrialization and the growing population, air pollution has risen recently. The increased number of people dying due to pulmonary ailments has raised the alarm for government authorities to devise programs to reduce air pollution and preserve human health. Activated carbon is increasingly being used for air purification at residential, commercial, and industrial levels. It is also used in the food and beverages industry to remove unwanted color and odor of sweeteners, syrups, juices, and other condiments. The rise in the number of applications will provide lucrative opportunities to the market players for the forecast period.

Challenges:
  • Presence of alternatives

The increased cost of some activated carbon grades has led consumers to explore other water treatment alternatives. The invention of super sand to purify water has gained popularity, given its ability to filter contaminated water five times more efficiently than regular sand. It is a low-cost method to purify water and can challenge the growth of the activated carbon market during the forecast period.

Segmentation Analysis:

The global activated carbon market has been segmented based on application, product type, end-use industry, and region.

  • The application segment is divided into gas-phase application and liquid-phase application. The gas-phase application segment dominated the market, with a market share of around 54% in 2021. The gas phase application is predominantly used for air purification processes. Gas phase activated carbon primarily finds use in the automotive and industrial units/sectors. Gas phase activated carbon is used to deodorize and filtrate exhaust fumes, smoking rooms, chemical processing plants, and industrial air. Given the stringent regulatory guidelines to control air pollution caused by exhaust fumes and industrial units, applying gas-phase activated carbon is bound to witness growth during the forecast period.
  • The product type segment is divided into powdered activated carbon, granular activated carbon, and others. Over the forecast period, the granular activated carbon segment is expected to grow at the fastest CAGR of 8.6%. Granulated activated carbon is larger than powdered activated carbon. Granulated activated carbon is reusable and can be regenerated, making them sustainable and environmentally friendly. Given their larger particle size, they can easily remove foreign particles from solids, liquids, and gases. The application in all states of matter increases the scope of its application. One such example would be the growing use of granulated activated carbon in the food and beverages industry to remove unwanted odor and color from sweeteners, syrups, and juices.
  • The end-user industry segment is divided into water treatment, automotive industry, air purification, food & beverages, pharmaceuticals & medical, and others. In 2021, the water treatment segment dominated the market, accounting for around 45% of global revenue. The cost-effective, easy, and environmentally friendly nature of activated carbon to treat contaminated water is responsible for the rising use of activated carbon in water treatment globally. The decreasing potable water resources have created a market for water purification technologies. The market players are developing new variants of activated carbon to be used in water purification, giving the necessary impetus for the growth of this segment.
Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The Asia Pacific emerged as the largest market for the global activated carbon market, with a 39.6% share of the market revenue in 2021.

  • The Asia Pacific region currently dominates the activated carbon market due to the growing population of the region, which has led to the increase in demand for activated carbon for water treatment and air purification applications across the region. The rise in government initiatives and guidelines to provide potable water to remote parts of the region will aid in developing the activated carbon market. The region is known for the abundant presence of raw materials required for the production of activated carbon. The ease of raw material availability translates to the low production cost, attracting various manufacturers to the region, resulting in the growth of the Asia Pacific activated carbon market.

The Asia Pacific Region Activated Carbon Market Share in 2021 - 39.6%

 

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global activated carbon industry.

The sale of Cabot Corporation's Purification Solutions division, which includes the activated carbon division, to One Equity Partners, was announced in November 2021.

List of Key Market Players:

  • Cabot Corporation
  • Kuraray Co. Ltd.
  • JACOBI CARBONS GROUP
  • CARBOTECH AC GMBH
  • Osaka Gas Co. Ltd.
  • Haycarb PLC
  • Kureha Corporation
  • CarbPure Technologies
  • Boyce Carbon
  • Donau Chemie AG

Key Target Audience

  • Industrial Units
  • Municipal Authorities
  • Market Players
  • End-Users
  • Investors
  • Government Authorities
  • Consulting And Research Firm
  • Venture capitalists
  • Third-party knowledge providers
  • Value-Added Resellers (VARs)

Report Description:

  • Global Activated Carbon Market, Industry Analysis, Trends, Analysis and Forecast, 2022 to 2030 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2021 is considered as the base year of the report. 2019 and 2020 are the historic years, and 2022 to 2030 are the forecast years. The global activated carbon market is based on revenue (USD Billion). The report incorporates the market study based on revenue. The study covers the market share revenue/market share/volume for each segment, region, and country catering to the global activated carbon 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 the relative data & information, which have been validated by the leading industry professionals and experts across the globe. The research report also delivers an outline of the attractiveness of activated carbon based on application, product type, end user industry, and regions which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and prospects to fathom 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 the global activated carbon market. This offers vital and in-depth insights to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global activated carbon 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 to provide business related data and information. 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's growth and development 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 product (market related, i.e., global activated carbon market) is covered to comprehend the adoption rate and evaluate the market size. 

Frequesntly Asked Questions

As per The Brainy Insights, the size of the activated carbon market was valued at USD 3.68 billion in 2021 to USD 5.98 billion by 2030.

The global activated carbon market is growing at a CAGR of 5.56% during the forecast period 2022-2030.

The global activated carbon market has been segmented based on application, product type, end user industry, and regions. The gas phase application segment led the market in 2021.

The Asia Pacific region emerged as the largest market for activated carbon.

The market's growth will be influenced by the rising world population coupled with decreasing potable water resources.

The uncertain supply of raw materials could hamper market growth.

The growing number of applications will provide huge opportunities to the market.

Key players are Cabot Corporation, Kuraray Co. Ltd., JACOBI CARBONS GROUP, CARBOTECH AC GMBH, Osaka Gas Co. Ltd., Haycarb PLC, Kureha Corporation, CarbPure Technologies, Boyce Carbon, and Donau Chemie AG.

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 Product Type
          4.3.3. Market Attractiveness Analysis by End-User Industry
          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. The rising world population coupled with decreasing potable water resources
    5.3. Restraints
          5.3.1. The uncertain supply of raw materials
    5.4. Opportunities
          5.4.1. The growing number of applications
    5.5. Challenges
          5.5.1. Presence of alternatives

6. Global Activated Carbon Market Analysis and Forecast, By Application
    6.1. Segment Overview
    6.2. Gas-Phase Application
    6.3. Liquid-Phase Application
    6.4. Others

7. Global Activated Carbon Market Analysis and Forecast, By Product Type
    7.1. Segment Overview
    7.2. Powdered Activated Carbon
    7.3. Granular Activated Carbon
    7.4. Others

8. Global Activated Carbon Market Analysis and Forecast, By End-User Industry
    8.1. Segment Overview
    8.2. Water Treatment
    8.3. Automotive Industry
    8.4. Air Purification
    8.5. Food & Beverages
    8.6. Pharmaceuticals & Medical
    8.7. Others

9. Global Activated Carbon 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 Activated Carbon Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Activated Carbon 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. Cabot 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. Kuraray Co. Ltd.
          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. JACOBI CARBONS GROUP
          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. CARBOTECH AC 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. Osaka Gas Co. Ltd.
          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. Haycarb PLC
          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. Kureha Corporation
          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. CarbPure Technologies
          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. Boyce Carbon
          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. Donau Chemie AG
          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 Activated Carbon Market, By Application, 2019-2030 (USD Billion) 

2. Global Gas-Phase Application Activated Carbon Market, By Region, 2019-2030 (USD Billion) 

3. Global Liquid-Phase Application Activated Carbon Market, By Region, 2019-2030 (USD Billion) 

4. Global Activated Carbon Market, By Product Type, 2019-2030 (USD Billion) 

5. Global Powdered Activated Carbon Market, By Region, 2019-2030 (USD Billion) 

6. Global Granular Activated Carbon Market, By Region, 2019-2030 (USD Billion) 

7. Global Others Activated Carbon Market, By Region, 2019-2030 (USD Billion) 

8. Global Activated Carbon Market, By End-User Industry, 2019-2030 (USD Billion) 

9. Global Water Treatment Activated Carbon Market, By Region, 2019-2030 (USD Billion) 

10. Global Automotive Industry Activated Carbon Market, By Region, 2019-2030 (USD Billion) 

11. Global Air Purification Activated Carbon Market, By Region, 2019-2030 (USD Billion) 

12. Global Food & Beverages Activated Carbon Market, By Region, 2019-2030 (USD Billion) 

13. Global Pharmaceuticals & Medical Activated Carbon Market, By Region, 2019-2030 (USD Billion) 

14. Global Others Activated Carbon Market, By Region, 2019-2030 (USD Billion) 

15. Global Activated Carbon Market, By Region, 2019-2030 (USD Billion) 

16. North America Activated Carbon Market, By Application, 2019-2030 (USD Billion) 

17. North America Activated Carbon Market, By Product Type, 2019-2030 (USD Billion) 

18. North America Activated Carbon Market, By End-User Industry, 2019-2030 (USD Billion) 

19. U.S. Activated Carbon Market, By Application, 2019-2030 (USD Billion) 

20. U.S. Activated Carbon Market, By Product Type, 2019-2030 (USD Billion) 

21. U.S. Activated Carbon Market, By End-User Industry, 2019-2030 (USD Billion) 

22. Canada Activated Carbon Market, By Application, 2019-2030 (USD Billion) 

23. Canada Activated Carbon Market, By Product Type, 2019-2030 (USD Billion) 

24. Canada Activated Carbon Market, By End-User Industry, 2019-2030 (USD Billion) 

25. Mexico Activated Carbon Market, By Application, 2019-2030 (USD Billion) 

26. Mexico Activated Carbon Market, By Product Type, 2019-2030 (USD Billion) 

27. Mexico Activated Carbon Market, By End-User Industry, 2019-2030 (USD Billion) 

28. Europe Activated Carbon Market, By Application, 2019-2030 (USD Billion) 

29. Europe Activated Carbon Market, By Product Type, 2019-2030 (USD Billion) 

30. Europe Activated Carbon Market, By End-User Industry, 2019-2030 (USD Billion) 

31. Germany Activated Carbon Market, By Application, 2019-2030 (USD Billion) 

32. Germany Activated Carbon Market, By Product Type, 2019-2030 (USD Billion) 

33. Germany Activated Carbon Market, By End-User Industry, 2019-2030 (USD Billion) 

34. France Activated Carbon Market, By Application, 2019-2030 (USD Billion) 

35. France Activated Carbon Market, By Product Type, 2019-2030 (USD Billion) 

36. France Activated Carbon Market, By End-User Industry, 2019-2030 (USD Billion) 

37. U.K. Activated Carbon Market, By Application, 2019-2030 (USD Billion) 

38. U.K. Activated Carbon Market, By Product Type, 2019-2030 (USD Billion) 

39. U.K. Activated Carbon Market, By End-User Industry, 2019-2030 (USD Billion) 

40. Italy Activated Carbon Market, By Application, 2019-2030 (USD Billion) 

41. Italy Activated Carbon Market, By Product Type, 2019-2030 (USD Billion) 

42. Italy Activated Carbon Market, By End-User Industry, 2019-2030 (USD Billion) 

43. Spain Activated Carbon Market, By Application, 2019-2030 (USD Billion) 

44. Spain Activated Carbon Market, By Product Type, 2019-2030 (USD Billion) 

45. Spain Activated Carbon Market, By End-User Industry, 2019-2030 (USD Billion) 

46. Asia Pacific Activated Carbon Market, By Application, 2019-2030 (USD Billion) 

47. Asia Pacific Activated Carbon Market, By Product Type, 2019-2030 (USD Billion) 

48. Asia Pacific Activated Carbon Market, By End-User Industry, 2019-2030 (USD Billion) 

49. Japan Activated Carbon Market, By Application, 2019-2030 (USD Billion) 

50. Japan Activated Carbon Market, By Product Type, 2019-2030 (USD Billion) 

51. Japan Activated Carbon Market, By End-User Industry, 2019-2030 (USD Billion) 

52. China Activated Carbon Market, By Application, 2019-2030 (USD Billion) 

53. China Activated Carbon Market, By Product Type, 2019-2030 (USD Billion) 

54. China Activated Carbon Market, By End-User Industry, 2019-2030 (USD Billion) 

55. India Activated Carbon Market, By Application, 2019-2030 (USD Billion) 

56. India Activated Carbon Market, By Product Type, 2019-2030 (USD Billion) 

57. India Activated Carbon Market, By End-User Industry, 2019-2030 (USD Billion) 

58. South America Activated Carbon Market, By Application, 2019-2030 (USD Billion) 

59. South America Activated Carbon Market, By Product Type, 2019-2030 (USD Billion) 

60. South America Activated Carbon Market, By End-User Industry, 2019-2030 (USD Billion) 

61. Brazil Activated Carbon Market, By Application, 2019-2030 (USD Billion) 

62. Brazil Activated Carbon Market, By Product Type, 2019-2030 (USD Billion) 

63. Brazil Activated Carbon Market, By End-User Industry, 2019-2030 (USD Billion) 

64. Middle East and Africa Activated Carbon Market, By Application, 2019-2030 (USD Billion) 

65. Middle East and Africa Activated Carbon Market, By Product Type, 2019-2030 (USD Billion) 

66. Middle East and Africa Activated Carbon Market, By End-User Industry, 2019-2030 (USD Billion) 

67. UAE Activated Carbon Market, By Application, 2019-2030 (USD Billion) 

68. UAE Activated Carbon Market, By Product Type, 2019-2030 (USD Billion) 

69. UAE Activated Carbon Market, By End-User Industry, 2019-2030 (USD Billion) 

70. South Africa Activated Carbon Market, By Application, 2019-2030 (USD Billion) 

71. South Africa Activated Carbon Market, By Product Type, 2019-2030 (USD Billion) 

72. South Africa Activated Carbon Market, By End-User Industry, 2019-2030 (USD Billion) 

List of Figures 

1. Global Activated Carbon Market Segmentation

2. Activated Carbon 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 Activated Carbon Market Attractiveness Analysis by Application

9. Global Activated Carbon Market Attractiveness Analysis by Product Type

10. Global Activated Carbon Market Attractiveness Analysis by End-User Industry

11. Global Activated Carbon Market Attractiveness Analysis by Region

12. Global Activated Carbon Market: Dynamics

13. Global Activated Carbon Market Share by Application (2022 & 2030)

14. Global Activated Carbon Market Share by Product Type (2022 & 2030)

15. Global Activated Carbon Market Share by End-User Industry (2022 & 2030)

16. Global Activated Carbon Market Share by Regions (2022 & 2030)

17. Global Activated Carbon Market Share by Company (2021)

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global activated carbon market based on below-mentioned segments:

Global Activated Carbon Market by Application:

  • Gas-Phase Application
  • Liquid-Phase Application 

Global Activated Carbon Market by Product Type:

  • Powdered Activated Carbon
  • Granular Activated Carbon
  • Others

Global Activated Carbon Market by End-User Industry:

  • Water Treatment
  • Automotive Industry
  • Air Purification
  • Food & Beverages
  • Pharmaceuticals & Medical
  • Others

Global Activated Carbon 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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