Ceramics Market

Ceramics Market Size by Application (Bricks & Pipes, Abrasives, Sanitary Ware, Pottery, Tiles, and Others), Product (Advanced and Traditional), End-Use (Industrial, Building & Construction, Medical, and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-13021
  • Published Date: Nov, 2022
  • Pages: 237
  • Category: Chemicals & Materials
  • Format: PDF
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The global ceramics market was valued at USD 227.60 billion in 2022, increasing at a CAGR of 6.26% from 2022 to 2030 and anticipated to reach USD 369.93 billion by 2030. Asia-Pacific is expected to grow the fastest during the forecast period. 

Ceramics can also be formed to act as electrically conductive materials, objects permitting electricity to pass via their insulators, or mass materials preventing the flow of electricity. Ceramics are commonly made by mixing clay, water, earthen elements, and powders and shaping them into desired forms. The properties of ceramic materials, such as all materials, are dictated by the types of bonding between the particles, the types of atoms present, and the way the atoms are packed jointly. This is known as the atomic scale structure. Further, most ceramics are made up of two or more elements. This is called a compound. For instance, alumina (Al2O3) is a compound of oxygen and aluminium atoms. The particles in ceramic materials are held together by a chemical bond. The two most typical chemical bonds for ceramic materials are ionic and covalent. For metals, the chemical bond is called the metallic bond. The bonding of atoms jointly is much more robust in ionic and covalent bonding than in metallic.

Market Introduction:

A ceramic is an inorganic non-metallic solid produced up of either non-metal or metal compounds that have been shaped & then set by heating to high temperatures. Developed ceramics have the properties of high durability, high strength, high hardness, and high toughness. Advanced ceramic materials are now well established in many areas of everyday use, from fridge magnets to an increasing range of industries, including metals production and processing, electronics, aerospace, automotive and personnel protection. Ceramics can be found in products such as snow skies (piezoelectric-ceramics that stress when a voltage is employed to them), watches (quartz tuning forks-the timekeeping devices in watches), automobiles (sparkplugs & ceramic engine parts found in racecars), and phone lines. They can also be found on appliances (enamel coatings), space shuttles, and aeroplanes (nose cones). Depending on their mode of formation, ceramics can be lightweight or dense. Ceramics are generally produced by applying heat to processed clays & other natural raw materials to form a rigid product. Ceramic products that utilize naturally occurring minerals & rocks as starting materials must undergo special processing to control purity, particle size distribution, and heterogeneity. These features play an essential role in the definitive properties of the finished ceramic. Ceramic processing is used to create commercial products that are very different in shape, size, complexity, detail, material composition, structure, and cost. The goal of ceramics processing as an applied science is the natural result of an increasing ability to develop, refine, and characterize ceramic materials.

Ceramics Market Size

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Recent Development

For example, in December 2020, Kyocera Company started constructing a new R&D centre in January 2021 at its Kokubu campus in Kirishima City, Kagoshima, Japan. Kyocera has accomplished a location contract with the mayor of Kirishima City for the new research and development centre, which will concentrate on innovations in environmental preservation, communications and information, and smart energy. 

Market Dynamics:

Drivers:

The increased demand for advanced ceramics: The market growth is the growing penetration of advanced ceramics in different applications, along with the increase in the telecom and medical industries. Advanced ceramics are utilized across numerous industries and for multiple applications. Components made from these materials have become general due to their favourable characteristics that suit the diverging requirements of different industries. Further, many attributes of advanced ceramics are needed for various applications, i.e. thermal and electromagnetic. Additionally, the increasing popularity of 3D printing is propelling the requirement for advanced ceramics for making parts and elements for high-performance applications. Moreover, the expanding usage of photovoltaic modules, wind turbines, and pollution control applications, coupled with the growing use of silicon carbide (SiC) and gallium nitride (GaN), are stimulating the market growth during the forecast period. Furthermore, the rise in investments made by the governments to build & renovate infrastructure for the public welfare of the nations. In addition, developing public recreational spaces, hospitals, schools, and public transport has raised product consumption.

Restraints:

A high cost of advanced ceramics: A high cost of advanced ceramics is restraining the market growth. Further, advanced ceramics are mainly utilized in developing countries, where the per capita income is low compared to developed nations, which affects their adoption to some extent. Moreover, advanced ceramics are costlier than metals & plastics and are irreparable. Also, the low awareness about environmentally-friendly working conditions and the issues related to wastewater, air pollution, and solid waste are restraining the market growth.  

Opportunities:

Technological advancements: Technological advancements such as 3D printing are discoveries of knowledge that advance technology. The new technology allows the development of elements that can be produced later in extensive sequence in a particularly cost-effective and innovative fashion. Further, 3D printing will also play a vital role in manufacturing ceramic material in the foreseeable future due to increasing demand from the dental and medical sectors. Additionally, the increasing technological innovations in ceramic tile manufacturing, such as Nanotechnology, inkjet technology, and roto drum technology, are helping to drive market growth. The continuous development in material sciences has pushed manufacturers to discover novel technological applications of ceramics by modifying their structural & term structural properties, which are also helping to boost the market growth during the forecast period.

Segmentation analysis:

Regional segmentation analysis:

The regions analyzed for the market include Europe, South America, Asia Pacific, North America, the Middle East, and Africa. The Asia Pacific emerged as the largest market for the global ceramics market, with a 39.45% share of the market revenue in 2022. The Asia Pacific dominates the ceramics market due to the growing adoption of advanced ceramics and raw materials for product manufacturing. Further, the increasing standard of living, emerging economies, and rising disposable income propel market growth in this region. Additionally, customers' changing tastes and preferences for residential renovations are driving the market growth in this region during the forecast period. North America is expected to grow the fastest during the forecast period due to the rapid demand for specialized products and the increasing adoption of ceramic coatings. Further, the expanding development of residential & commercial buildings, the rising emphasis on the development of the domestic ceramic tile sector, and the growing customer disposable income in different emerging nations are expected to drive the market growth in this region.

Asia-Pacific Region Ceramics Market Share in 2022 - 39.45%

 

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Application segment analysis

The application segment is divided into bricks & pipes, abrasives, sanitary ware, pottery, tiles, and others. The sanitary ware segment dominated, with a market share of 27.17% in 2022. This growth is attributed to the government policies & measures undertaken to improve sanitation facilities across developing nations. The growing preference for sanitation and hygiene globally also stimulates the segment's market growth. Further, by 2030, the tiles segment will likely dominate the market due to the increasing construction activities in residential and commercial sectors worldwide.

Product segment analysis

The product segment is divided into advanced and traditional. In 2022, the advanced segment dominated the market with the largest market share of 58.14% and market revenue of 132.32 billion. This growth is attributed to the changing technology and the increasing demand for modern infrastructure. Furthermore, advanced ceramics outperform conventional materials like steel & aluminium in terms of corrosion resistance, resulting in lower maintenance and other costs for aircraft, armour, and vehicles are also helping to boost the segment's market growth. Further, by 2030, the traditional segment will likely dominate the market due to the increasing usage of traditional ceramics in producing tableware, clay bricks, and porcelain tiles.

End-Use segment analysis

The end-user segment is divided into industrial, building & construction, medical, and others. In 2022, the building & construction segment dominated the market with the largest market share of 32.16% and market revenue of 73.19 billion. This growth is attributed to the increasing technological advancements and mass production of ceramics. Additionally, the growing government focus on affordable housing in different regions is also helping to boost the segment's market growth.

Some of the Key Market Players:

  • Corning Inc.
  • Morgan Advanced Materials
  • Kyocera Corp.
  • CeremTec.
  • Murata Manufacturing Co. Ltd.
  • McDanel Advanced Ceramic Technologies
  • 3M
  • Saint Gobain
  • CoorsTek
  • Blasch Precision Ceramics Inc.
  • Momentive Performance Materials Inc.
  • Applied Ceramics Inc.
  • Materion Corporation
  • Caesar
  • Imerys Ceramics
  • Rauschert GmbH

Report Description: 

Attribute Description
Market Size Revenue (USD Billion), Volume in kilo tons
Market size value in 2022 USD 227.60 Billion, Volume in kilo tons
Market size value in 2030 USD 369.93 Billion, Volume in kilo tons
CAGR (2022 to 2030) 6.26%
Historical data 2019-2020
Base Year 2021
Forecast 2022-2030
Segments Key Segments are application, product, end-use, and regions
Regional Segments The key regions are North America, South America, Europe, Asia Pacific, and Middle East & Africa.

Frequesntly Asked Questions

Asia Pacific region emerged as the largest market for the ceramics.

The market's growth will be influenced by the rising demand for modern customer electronics appliances.

The high cost of advanced ceramics could hamper the market growth.

The expansion of end-user industries will provide huge opportunities to the market.

Key players are Corning Inc., Morgan Advanced Materials, Kyocera Corp., CeremTec., Murata Manufacturing Co. Ltd., McDanel Advanced Ceramic Technologies, 3M, Saint Gobain, CoorsTek , Blasch Precision Ceramics Inc.

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
          4.3.3. Market Attractiveness Analysis By End-Use
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. The rising demand for modern customer electronics appliances
          5.2.2. The rising demand for clean technology
          5.2.3. A rise in the construction industry
          5.2.4. The growing population and increasing disposable income of individuals
    5.3. Restraints
          5.3.1. The lack of availability of high-standard raw materials at reasonable costs
    5.4. Opportunities
          5.4.1. The expansion of end-user industries
    5.5. Challenges
          5.5.1. The stringent environmental regulations

6. Global Ceramics Market Analysis and Forecast, By Application
    6.1. Segment Overview
    6.2. Bricks & Pipes
    6.3. Abrasives
    6.4. Sanitary Ware
    6.5. Pottery
    6.6. Tiles
    6.7. Others

7. Global Ceramics Market Analysis and Forecast, By Product
    7.1. Segment Overview
    7.2. Advanced
    7.3. Traditional

8. Global Ceramics Market Analysis and Forecast, By End-Use
    8.1. Segment Overview
    8.2. Industrial
    8.3. Building & Construction
    8.4. Medical
    8.5. Others

9. Global Ceramics 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 Ceramics Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in Global Ceramics 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. Corning Inc.
          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. Morgan Advanced Materials
          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. Kyocera Corp.
          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. CeremTec.
          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. Murata Manufacturing 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. McDanel Advanced Ceramic Technologies
          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. 3M
          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. Saint Gobain
          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. CoorsTek
          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. Blasch Precision Ceramics Inc.
          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. Momentive Performance Materials Inc.
          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
    11.12. Applied Ceramics Inc.
          11.12.1. Business Overview
          11.12.2. Company Snapshot
          11.12.3. Company Market Share Analysis
          11.12.4. Company Product Portfolio
          11.12.5. Recent Developments
          11.12.6. SWOT Analysis
    11.13. Materion Corporation
          11.13.1. Business Overview
          11.13.2. Company Snapshot
          11.13.3. Company Market Share Analysis
          11.13.4. Company Product Portfolio
          11.13.5. Recent Developments
          11.13.6. SWOT Analysis
    11.14. Caesar
          11.14.1. Business Overview
          11.14.2. Company Snapshot
          11.14.3. Company Market Share Analysis
          11.14.4. Company Product Portfolio
          11.14.5. Recent Developments
          11.14.6. SWOT Analysis
    11.15. Imerys Ceramics
          11.15.1. Business Overview
          11.15.2. Company Snapshot
          11.15.3. Company Market Share Analysis
          11.15.4. Company Product Portfolio
          11.15.5. Recent Developments
          11.15.6. SWOT Analysis
    11.16. Rauschert GmbH
          11.16.1. Business Overview
          11.16.2. Company Snapshot
          11.16.3. Company Market Share Analysis
          11.16.4. Company Product Portfolio
          11.16.5. Recent Developments
          11.16.6. SWOT Analysis

List of Table

1. Global Ceramics Market, By Application, 2019-2030 (USD Billion)

2. Global Bricks & Pipes, Ceramics Market, By Region, 2019-2030 (USD Billion) 

3. Global Abrasives, Ceramics Market, By Region, 2019-2030 (USD Billion) 

4. Global Sanitary Ware, Ceramics Market, By Region, 2019-2030 (USD Billion) 

5. Global Pottery, Ceramics Market, By Region, 2019-2030 (USD Billion) 

6. Global Tiles, Ceramics Market, By Region, 2019-2030 (USD Billion) 

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

8. Global Ceramics Market, By Product, 2019-2030 (USD Billion)

9. Global Advanced, Ceramics Market, By Region, 2019-2030 (USD Billion)

10. Global Traditional, Ceramics Market, By Region, 2019-2030 (USD Billion)

11. Global Ceramics Market, By End-Use, 2019-2030 (USD Billion)

12. Global Industrial, Ceramics Market, By Region, 2019-2030 (USD Billion)

13. Global Building & Construction, Ceramics Market, By Region, 2019-2030 (USD Billion)

14. Global Medical, Ceramics Market, By Region, 2019-2030 (USD Billion)

15. Global Others, Ceramics Market, By Region, 2019-2030 (USD Billion)

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

17. North America Ceramics Market, By Product, 2019-2030 (USD Billion)

18. North America Ceramics Market, By End-Use, 2019-2030 (USD Billion)

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

20. U.S. Ceramics Market, By Product, 2019-2030 (USD Billion)

21. U.S. Ceramics Market, By End-Use, 2019-2030 (USD Billion)

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

23. Canada Ceramics Market, By Product, 2019-2030 (USD Billion)

24. Canada Ceramics Market, By End-Use, 2019-2030 (USD Billion)

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

26. Mexico Ceramics Market, By Product, 2019-2030 (USD Billion)

27. Mexico Ceramics Market, By End-Use, 2019-2030 (USD Billion)

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

29. Europe Ceramics Market, By Product, 2019-2030 (USD Billion)

30. Europe Ceramics Market, By End-Use, 2019-2030 (USD Billion)

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

32. Germany Ceramics Market, By Product, 2019-2030 (USD Billion)

33. Germany Ceramics Market, By End-Use, 2019-2030 (USD Billion)

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

35. France Ceramics Market, By Product, 2019-2030 (USD Billion)

36. France Ceramics Market, By End-Use, 2019-2030 (USD Billion)

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

38. U.K. Ceramics Market, By Product, 2019-2030 (USD Billion)

39. U.K. Ceramics Market, By End-Use, 2019-2030 (USD Billion)

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

41. Italy Ceramics Market, By Product, 2019-2030 (USD Billion)

42. Italy Ceramics Market, By End-Use, 2019-2030 (USD Billion)

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

44. Spain Ceramics Market, By Product, 2019-2030 (USD Billion)

45. Spain Ceramics Market, By End-Use, 2019-2030 (USD Billion)

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

47. Asia Pacific Ceramics Market, By Product, 2019-2030 (USD Billion)

48. Asia Pacific Ceramics Market, By End-Use, 2019-2030 (USD Billion)

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

50. Japan Ceramics Market, By Product, 2019-2030 (USD Billion)

51. Japan Ceramics Market, By End-Use, 2019-2030 (USD Billion)

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

53. China Ceramics Market, By Product, 2019-2030 (USD Billion)

54. China Ceramics Market, By End-Use, 2019-2030 (USD Billion)

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

56. India Ceramics Market, By Product, 2019-2030 (USD Billion)

57. India Ceramics Market, By End-Use, 2019-2030 (USD Billion)

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

59. South America Ceramics Market, By Product, 2019-2030 (USD Billion)

60. South America Ceramics Market, By End-Use, 2019-2030 (USD Billion)

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

62. Brazil Ceramics Market, By Product, 2019-2030 (USD Billion)

63. Brazil Ceramics Market, By End-Use, 2019-2030 (USD Billion)

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

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

66. Middle East and Africa Ceramics Market, By End-Use, 2019-2030 (USD Billion)

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

68. UAE Ceramics Market, By Product, 2019-2030 (USD Billion)

69. UAE Ceramics Market, By End-Use, 2019-2030 (USD Billion)

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

71. South Africa Ceramics Market, By Product, 2019-2030 (USD Billion)

72. South Africa Ceramics Market, By End-Use, 2019-2030 (USD Billion)

List of Figures 

1. Global Ceramics Market Segmentation

2. Global Ceramics Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top- Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Ceramics Market Attractiveness Analysis By Application

9. Global Ceramics Market Attractiveness Analysis By Product 

10. Global Ceramics Market Attractiveness Analysis By End-Use

11. Global Ceramics Market Attractiveness Analysis By Region

12. Global Ceramics Market: Dynamics

13. Global Ceramics Market Share By Application (2022 & 2030)

14. Global Ceramics Market Share By Product (2022 & 2030)

15. Global Ceramics Market Share By End-Use (2022 & 2030)

16. Global Ceramics Market Share By Regions (2022 & 2030)

17. Global Ceramics 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 ceramics based on below mentioned segments:

Global Ceramics Market by Application:

  • Bricks & Pipes
  • Abrasives
  • Sanitary Ware
  • Pottery
  • Tiles
  • Others

Global Ceramics Market by Product:

  • Advanced
  • Traditional

Global Ceramics Market by End-Use:

  • Industrial
  • Building & Construction
  • Medical
  • Others

Global Ceramics 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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