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Automotive Lightweight Material Market

Automotive Lightweight Material Market Size By Material (Metal, Composite, and Plastics), By End User (Passenger Cars, LCVs, and HCVs), by Application (Body in White, Chassis and Suspension, Powertrain, Closure, Interior, and Others), Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-13046
  • Published Date: Nov, 2022
  • Pages: 237
  • Category: Automotive & Transportation
  • Format: PDF
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The automotive lightweight material market was estimated at around USD 77.12 billion in 2021, growing at a CAGR of nearly 7.5% during 2022-2030. The market is projected to reach approximately USD 148.56 billion by 2030.   

Automotive lightweight material Market: Overview

Modern automobiles require innovative materials in order to increase fuel efficiency while preserving performance and safety. Because accelerating a lighter item requires less energy than one that is heavier, lightweight materials have a tremendous potential for improving vehicle economy. Fuel efficiency can increase by 6% to 8% with a 10% decrease in vehicle weight. By utilizing lightweight structural materials, cars can carry more sophisticated pollution control systems, safety equipment, and electronic systems that are integrated without adding to the total weight of the vehicle. Although lightweight materials can be utilized in any vehicle, electric, plug-in hybrid, and hybrid vehicles are the most dependent on them. These cars' use of lightweight materials can offset the weight of the electric motors and batteries, which increases efficiency and extends the all-electric range. To maintain the all-electric range of plug-in vehicles, the use of lightweight materials may require the use of a smaller and more economic battery. Research and development into lightweight materials is essential for reducing costs, enhancing recycling potential, maximizing fuel efficiency benefits, and enabling integration with vehicles.

Automotive Lightweight Material Market Size

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Automotive lightweight material Market: COVID Impact Analysis

Over the past few years, the market for automotive lightweight materials has grown moderately at a CAGR of 3.3%. However, the current COVID-19 outbreak has severely reduced automobile production in quarter Q2 of FY2020, which has had a domino impact on demand for automotive light-weight materials. Due to the protracted COVID-19 effect on the automobile industry, the market is expected to experience a more than twofold reduction over the short-term forecast period. Due to the return to normalcy in automotive manufacturing, demand for lightweight materials is anticipated to rise by the first quarter of FY2022.

Automotive lightweight material Market: Growth Drivers

Increased demand for vehicles with better performance and safety to accelerate the market’s growth

When compared to traditional materials, lightweight materials exhibit qualities like significant weight reduction and increased strength, both of which play a major role in the production of vehicles. A number of high-end technology enabled devices have also been developed in the current era of advanced mobility solutions to address the evolving needs of automobile consumers. Systems including safety devices, cutting-edge pollution control systems, and integrated electrical systems make use of lightweight materials to increase operational effectiveness while reducing vehicle weight. As a result, it is anticipated that the usage of lightweight materials in the automobile will fulfil the demand for increased strength and top-tier operating efficiency, which in turn will help fuel the expansion of the global market for automotive lightweight materials.

Strict emission and fuel efficiency standards

Globally, a number of nations have established stringent regulations for vehicle emissions and fuel economy. More lightweight materials, such as composites, and polymers, are increasingly needed of automotive OEMs. Modern lightweight materials let vehicles use less fuel while maintaining performance and safety. The fuel efficiency of a vehicle can increase by 6 to 8% with a 10% mass reduction. Because less weight requires less energy to accelerate, the use of lightweight materials lowers fuel consumption in a vehicle. Modern materials used in engine components allow them to tolerate high pressure and temperature, which helps to boost efficiency and reduce emissions. The multi-material designs combine HSS, magnesium, composites, aluminum, and other materials in a way that keeps the optimum qualities of each material in the right spot. Light weighting can be achieved by good design, material selection, production, and assembly.

Automotive lightweight material Market: Segmentation Analysis

The automotive lightweight material market is segmented into the material, end user, and application. Based on material, the market for metal segment is estimated to lead the market during the forecast period. These metals include high-strength steel, titanium, magnesium, and aluminum. Demand for metallic products is anticipated to rise as durability requirements for chassis, passenger compartment frames, under-body floors, instrument panels, and other components rise. Metallic components are employed to increase the rigidity of the vehicle because they are stable and long-lasting. It is anticipated that concerns about passenger safety and a growth in the adoption of the safest automobiles in Europe and the Asia Pacific will support demand for metallic materials.      

By end user, the passenger car segment is anticipated to dominate the market during the forecast period. The market for lightweight cars is likely to be driven by the rising middle-class population, and high income levels of the people, in the Asia Pacific region as well as Central and South America. Rising consumer demand is responsible for the expansion of the passenger car segment. The players have been forced to adopt lightweight materials due to the trend towards high-performance and fuel-efficient automobiles, encouraging the segment's growth.        

By application, the body in white segment is anticipated to dominant the automotive lightweight material market during the forecast period. The segment expansion will be supported by the usage of materials in more areas of the vehicle, such as the cross and side beams, passenger compartment frame, under-body floors, front end structures, and panels.

Report Scope

Attribute Description
Base Year 2021
Forecast period 2022-2030
Report Coverage      Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends
Regional scope North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Market Size (unit) USD Billion
CAGR 7.5%
Segments Covered

By Material
By End User
By Application

Key Insights:

  • Based on material segmentation, the metal segment is estimated to hold the largest market share during the forecast period.
  • Based on end user segmentation, the passenger cars segment is the leading revenue-generating category during the forecast period.
  • Based on application segmentation, the body in white segment is the leading revenue-generating category during the forecast period.
  • On the basis of geography/region, the Europe region was the leading revenue generator in 2021.

Recent Development

  • May 2021: At its facility in Wesseling, Germany, LyondellBasell (NYSE: LYB) said today that it has taken another step toward realizing its goal of advancing the circular economy by producing virgin quality polymers from raw materials collected from plastic trash. This raw material, which is created by the thermal conversion of plastic waste, is processed into ethylene and propylene in the LyondellBasell manufacturing facilities before being turned into polypropylene (PP) and polyethylene (PE) in the downstream units for the production of plastics.
  • May 2019: At its proposed integrated chemical production ("Verbund") location in Zhanjiang, China, BASF SE plans to build a Thermoplastic Polyurethane (TPU) plant as well as a compounding facility for engineering plastics.

Regional Landscape

Europe is anticipated to remain one of the most appealing marketplaces over the projection period, accounting for the majority of the market's revenue share. The market expansion has been accelerated by the regional presence of major suppliers of the lightweight materials as well as international automakers. Additionally, significant participant investment in R&D is anticipated to promote market expansion.  

List of the prominent players in the Global Automotive lightweight material market:

  • Alcoa Inc.
  • Owens Corning
  • Toray
  • BASF SE
  • LyondellBasell
  • SABIC
  • Huntsman
  • Novelis Inc.
  • POSCO
  • DowDuPont
  • Tata Steel Limited
  • US Magnesium

The global Automotive lightweight material market is segmented as follows:

By Material

  • Metal
  • Composite
  • Plastics
  • Elastomer

By End user

  • Passenger Cars
  • LCVs
  • HCVs

By Application

  • Body in White
  • Chassis and Suspension
  • Powertrain
  • Closure
  • Interior
  • Others

By Region/Geography

  • North America
  • The U.S.
  • Canada
  • Mexico
  • Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
  • The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of the Middle East & Africa
  • Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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  • Further segmentation of the market on the basis of type, application, end use, product, technology, method, process and any other segment depending on the market
  • Segmentation on the basis of any specific country or region
  • Any segment can be classified on the basis of application
  • Application segment can be further divided on the basis of companies
  • The companies profiled are not limited, we can incorporate additional companies of your choice
  • We can split the company market share on the basis of product, application and region
  • Report can be prepared for any specific country/region/segment
  • Customers can be added on the basis of regions and countries
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1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope

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 Material
          4.3.2. Market Attractiveness Analysis By End User
          4.3.3. Market Attractiveness Analysis By Application
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increased demand for vehicles with better performance and safety to accelerate the market’s growth
          5.2.2. Strict emission and fuel efficiency standards
    5.3. Restrains
          5.3.1. Huge cost of materials will hamper the market
    5.4. Opportunities
          5.4.1. Rising automotive industry

6. Global Automotive Lightweight Material Market Analysis and Forecast, By Material
    6.1. Segment Overview
    6.2. Metal
    6.3. Composite
    6.4. Plastics
    6.5. Elastomer

7. Global Automotive Lightweight Material Market Analysis and Forecast, By End User
    7.1. Segment Overview
    7.2. Passenger Cars
    7.3. LCVs
    7.4. HCVs

8. Global Automotive Lightweight Material Market Analysis and Forecast, By Application
    8.1. Segment Overview
    8.2. Body in White
    8.3. Chassis and Suspension
    8.4. Powertrain
    8.5. Closure
    8.6. Interior
    8.7. Others

9. Global Automotive Lightweight Material 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
          9.3.6. Rest of Europe
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
          9.4.4. Australia
          9.4.5. South Korea
          9.4.6. Rest of Asia-Pacific
    9.5. South America
          9.5.1. Brazil
          9.5.2. Argentina
          9.5.3. Rest of South America
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa
          9.6.3. Saudi Arabia
          9.6.4. Rest of Middle East & Africa

10. Global Automotive Lightweight Material Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Automotive Lightweight Material 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. Material Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Alcoa Inc.
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Application Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Owens Corning
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Application Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Toray
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Application Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. BASF SE
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Application Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. LyondellBasell
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Application Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. SABIC
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Application Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Huntsman
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Application Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Novelis Inc.
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Application Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Tata Steel Limited
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Application Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. US Magnesium
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Application Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
 

List of Table

1. Global Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

2. Global Metal Automotive Lightweight Material Market, By Region, 2022-2030(USD Million) 

3. Global Composite Automotive Lightweight Material Market, By Region, 2022-2030(USD Million) 

4. Global Plastics Automotive Lightweight Material Market, By Region, 2022-2030(USD Million) 

5. Global Elastomer Automotive Lightweight Material Market, By Region, 2022-2030(USD Million) 

6. Global Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

7. Global Passenger Cars Automotive Lightweight Material Market, By Region, 2022-2030(USD Million) 

8. Global LCVs Automotive Lightweight Material Market, By Region, 2022-2030(USD Million) 

9. Global HCVs Automotive Lightweight Material Market, By Region, 2022-2030(USD Million) 

10. Global Automotive Lightweight Material Market, By Application, 2022-2030(USD Million) 

11. Global Body in White Automotive Lightweight Material Market, By Region, 2022-2030(USD Million) 

12. Global Chassis and Suspension Automotive Lightweight Material Market, By Region, 2022-2030(USD Million) 

13. Global Powertrain Automotive Lightweight Material Market, By Region, 2022-2030(USD Million) 

14. Global Closure Automotive Lightweight Material Market, By Region, 2022-2030(USD Million) 

15. Global Interior Automotive Lightweight Material Market, By Region, 2022-2030(USD Million) 

16. Global Others Automotive Lightweight Material Market, By Region, 2022-2030(USD Million) 

17. Global Automotive Lightweight Material Market, By Region, 2022-2030(USD Million) 

18. Global Automotive Lightweight Material Market, By North America, 2022-2030(USD Million) 

19. North America Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

20. North America Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

21. North America Automotive Lightweight Material Market, By Application, 2022-2030(USD Million) 

22. U.S. Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

23. U.S. Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

24. U.S. Automotive Lightweight Material Market, By Application, 2022-2030(USD Million)  

25. Canada Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

26. Canada Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

27. Canada Automotive Lightweight Material Market, By Application, 2022-2030(USD Million) 

28. Mexico Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

29. Mexico Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

30. Mexico Automotive Lightweight Material Market, By Application, 2022-2030(USD Million) 

31. Europe Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

32. Europe Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

33. Europe Automotive Lightweight Material Market, By Application, 2022-2030(USD Million) 

34. Germany Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

35. Germany Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

36. Germany Automotive Lightweight Material Market, By Application, 2022-2030(USD Million) 

37. France Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

38. France Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

39. France Automotive Lightweight Material Market, By Application, 2022-2030(USD Million) 

40. U.K. Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

41. U.K. Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

42. U.K. Automotive Lightweight Material Market, By Application, 2022-2030(USD Million)  

43. Italy Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

44. Italy Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

45. Italy Automotive Lightweight Material Market, By Application, 2022-2030(USD Million) 

46. Spain Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

47. Spain Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

48. Spain Automotive Lightweight Material Market, By Application, 2022-2030(USD Million

49. Rest of Europe Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

50. Rest of Europe Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

51. Rest of Europe Automotive Lightweight Material Market, By Application, 2022-2030(USD Million

52. Asia Pacific Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

53. Asia Pacific Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

54. Asia Pacific Automotive Lightweight Material Market, By Application, 2022-2030(USD Million) 

55. Japan Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

56. Japan Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

57. Japan Automotive Lightweight Material Market, By Application, 2022-2030(USD Million) 

58. China Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

59. China Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

60. China Automotive Lightweight Material Market, By Application, 2022-2030(USD Million) 

61. India Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

62. India Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

63. India Automotive Lightweight Material Market, By Application, 2022-2030(USD Million) 

64. Australia Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

65. Australia Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

66. Australia Automotive Lightweight Material Market, By Application, 2022-2030(USD Million)

67. South Korea Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

68. South Korea Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

69. South Korea Automotive Lightweight Material Market, By Application, 2022-2030(USD Million)

70. Rest of Asia-Pacific Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

71. Rest of Asia-Pacific Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

72. Rest of Asia-Pacific Automotive Lightweight Material Market, By Application, 2022-2030(USD Million)

73. South America Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

74. South America Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

75. South America Automotive Lightweight Material Market, By Application, 2022-2030(USD Million)  

76. Brazil Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

77. Brazil Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

78. Brazil Automotive Lightweight Material Market, By Application, 2022-2030(USD Million) 

79. Argentina Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

80. Argentina Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

81. Argentina Automotive Lightweight Material Market, By Application, 2022-2030(USD Million) 

82. Rest of South America Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

83. Rest of South America Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

84. Rest of South America Automotive Lightweight Material Market, By Application, 2022-2030(USD Million) 

85. Middle East and Africa Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

86. Middle East and Africa Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

87. Middle East and Africa Automotive Lightweight Material Market, By Application, 2022-2030(USD Million) 

88. UAE Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

89. UAE Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

90. UAE Automotive Lightweight Material Market, By Application, 2022-2030(USD Million) 

91. South Africa Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

92. South Africa Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

93. South Africa Automotive Lightweight Material Market, By Application, 2022-2030(USD Million) 

94. Saudi Arabia Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

95. Saudi Arabia Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

96. Saudi Arabia Automotive Lightweight Material Market, By Application, 2022-2030(USD Million) 

97. Rest of Middle East & Africa Automotive Lightweight Material Market, By Material, 2022-2030(USD Million) 

98. Rest of Middle East & Africa Automotive Lightweight Material Market, By End User, 2022-2030(USD Million) 

99. Rest of Middle East & Africa Automotive Lightweight Material Market, By Application, 2022-2030(USD Million) 

List of Figures 

1. Global Automotive Lightweight Material Market Segmentation

2. Automotive Lightweight Material 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 Automotive Lightweight Material Market Attractiveness Analysis By Material

9. Global Automotive Lightweight Material Market Attractiveness Analysis By End User

10. Global Automotive Lightweight Material Market Attractiveness Analysis By Application

11. Global Automotive Lightweight Material Market Attractiveness Analysis By Region

12. Global Automotive Lightweight Material Market: Dynamics

13. Global Automotive Lightweight Material Market Share By Material(2022 & 2030)

14. Global Automotive Lightweight Material Market Share By End User(2022 & 2030)

15. Global Automotive Lightweight Material Market Share By Application(2022 & 2030)

16. Global Automotive Lightweight Material Market Share by Regions (2022 & 2030)

17. Global Automotive Lightweight Material Market Share by Company (2021)

By Material

  • Metal
  • Composite
  • Plastics
  • Elastomer

By End user

  • Passenger Cars
  • LCVs
  • HCVs

By Application

  • Body in White
  • Chassis and Suspension
  • Powertrain
  • Closure
  • Interior
  • Others

By Region/Geography

  • North America
  • The U.S.
  • Canada
  • Mexico
  • Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
  • The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of the Middle East & Africa
  • Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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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