Ethyl Acetate Market

Ethyl Acetate Market Size by Application (Pigments, Adhesives & Sealants, Paints & Coatings, Inks, Process Solvents and Others), End-users (Food & Beverages, Pharmaceutical, Automotive, Leather, Packaging and Others), Distribution Channel (Online and Offline), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-12533
  • Published Date: Jan, 2024
  • Pages: 239
  • Category: Chemicals & Materials
  • Format: PDF
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The global ethyl acetate market was valued at USD 5.12 Billion in 2022 and grew at a CAGR of 6.52% from 2023 to 2032. The market is expected to reach USD 9.62 Billion by 2032. The demand for ethyl acetate is increasing among end-user industries, such as automotive, food and beverages, pharmaceutical, and packaging.

Market Introduction:

Ethyl acetates are organic chemicals that are mostly utilized as a solvent in various processes is ethyl acetate, sometimes referred to as ethyl ethanoate. High-flammability ethyl acetate is typically present in alcoholic beverages like wines. It is even used as an organic solvent in cellulose, paints, rubber, and other products. The chemical molecule ethyl acetate, also known as systemically ethyl ethanoate, EtOAc, or EA, has the formula CH3CO2CH2CH3. The ester of ethanol and acetic acid, ethyl acetate, is produced in huge quantities as a solvent. Several industries produce or utilize it in their operations, including the chemical and pharmaceutical sectors and those that produce varnishes, paints, and lacquers. Nitrocellulose, celluloid, cellulose ethers, chlorinated rubber, a few natural resins, and a wide variety of synthetic resins, including plasticizers, fats, waxes, and oils,  are all effective solvents for ethyl acetate.

Ethyl Acetate Market Size

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Market Dynamics:

Drivers

Increasing use in paints and coatings: Paints, adhesives, and coating additives are just a few industrial uses for ethylene vinyl acetate. Epoxies, polyurethanes and urethanes are just a few of the coating formulas that can be made from ethyl acetate. Paints used on surfaces might dry faster due to ethylene acetate. Its low boiling point makes removing excess oil from paint films simple, which is the major reason it is employed as a thinner for oil paints. Additionally, ethyl acetate is a solvent in producing coatings and polymers. Ethyl acetate is essential to the flexo printing business as a solvent in ink formulation. It facilitates the dissolution and dispersion of diverse colourants and pigments, guaranteeing a consistent and flawless ink application on various substrates. Moreover, ethyl acetate rapidly evaporates during printing, enabling quicker drying times, a crucial feature for high-speed printing operations.

Restraints:

Fluctuating cost of raw materials: Ethyl acetate products are manufactured using raw materials such as ethanol and acetic acid. Conventionally, petrochemical feedstocks like natural gas, coal, or oil and feedstock intermediates like starchy, syngas, or cellulose materials are used to create ethanol for use in ethyl acetate manufacturing. The cost of ethanol produced conventionally fluctuates due in part to the instability of petrochemical feedstock pricing, which hampers the demand for the final product.

Opportunities:

Expansion of the chemical industry: The chemical sector is among the main drivers of the expansion of several economic industries. Ethyl acetate has long been employed in the different end-user industries. The worldwide chemical business has seen a rapid pattern shift during the past few decades. The utilization of higher-quality raw materials, significant improvements in chemical processes, and technological breakthroughs are only a few of the reasons contributing to the recent growth in the chemical industry. Economic factors will still be important in the global rise of ethyl acetate, but the rapidly expanding population will also increase demand for food and drink, pharmaceuticals, and automobiles.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia-Pacific emerged as the most significant ethyl acetate market, with a 46.27% market revenue share in 2022.

Asia-Pacific region will account for the largest market share with revenue growth. Nations such as India, China and Japan have a tremendous demand for ethyl acetate due to growing usage in paint and coatings, leather, packaging and process solvent applications. Further, abundant raw materials have led to a high production of ethyl acetate in the region. The regional automobile industry has a high demand for ethyl acetate for different components. Further, many production companies are entering into joint ventures and mergers, providing lucrative opportunities for the ethyl acetate market.

Asia-Pacific region Ethyl Acetate Market Share in 2022 - 46.27%

 

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Application Segment Analysis

The application segment is divided into pigments, adhesives & sealants, paints & coatings, inks, process solvents and others. The paints & coatings segment dominated the market, with a share of around 36.21% in 2022. Ethylene acetate is used extensively in producing nitrocellulose lacquers, thinners and varnishes. Among industrial organic solvents, it is the least hazardous and shows good dilution ratios with both aliphatic and aromatic diluents.

End-users Segment Analysis

The end-users segment is divided into food & beverages, pharmaceutical, automotive, leather, packaging and others. The automotive segment dominated the market, with a share of around 35.79% in 2022. In the automobile sector, ethyl acetate is utilized as a solvent for synthetic polymers like epoxy and polyurethane. Rubber, metal and plastic automotive components can all be bonded together with the help of these adhesives.

Distribution Channel Segment Analysis

The distribution channel segment is divided into online and offline. The offline segment dominated the market, with a share of around 78.11% in 2022. Many consumers prefer to purchase chemicals from ethyl acetate. The customers can check the quality of the product and order as per their requirements.

Some of the Key Market Players:
  • INEOS
  • Celanese Corp.
  • Solvay
  • Eastman Chemical Company
  • Sasol Ltd.
  • IOL
  • SHOWA DENKO KK
  • Daicel Corporation
  • Jubilant Ingrevia Limited
  • Sipchem

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 5.12 Billion
Market size value in 2032 USD 9.62 Billion
CAGR (2023 to 2032) 6.52%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Application, End-users and Distribution Channel

Frequesntly Asked Questions

As per The Brainy Insights, the size of the ethyl acetate market was valued USD 5.12 billion in 2022 to USD 9.62 billion by 2032.

Global ethyl acetate market is growing at a CAGR of 6.52% during the forecast period 2023-2032.

Asia-Pacific region emerged as the largest market for the ethyl acetate.

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

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

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

Key players are INEOS, Celanese Corp., Solvay, Eastman Chemical Company, Sasol Ltd., IOL, SHOWA DENKO KK, Daicel Corporation, Jubilant Ingrevia Limited, Sipchem among others.

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

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis by Application
          4.3.2. Market Attractiveness Analysis by End-users
          4.3.3. Market Attractiveness Analysis by Distribution Channel
          4.3.4. Market Attractiveness Analysis by Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increasing use of ethyl acetate in different end-users
    5.3. Restraints
          5.3.1. Fluctuating cost of raw materials
    5.4. Opportunities
          5.4.1. Increasing investment in flexible packaging industry
    5.5. Challenges
          5.5.1. Harmful exposure effects

6. Global Ethyl Acetate Market Analysis and Forecast, By Application
    6.1. Segment Overview
    6.2. Pigments
    6.3. Adhesives & Sealants
    6.4. Paints & Coatings
    6.5. Inks
    6.6. Process Solvents
    6.7. Others

7. Global Ethyl Acetate Market Analysis and Forecast, By End-users
    7.1. Segment Overview
    7.2. Food & Beverages
    7.3. Pharmaceutical
    7.4. Automotive
    7.5. Leather
    7.6. Packaging
    7.7. Others

8. Global Ethyl Acetate Market Analysis and Forecast, By Distribution Channel
    8.1. Segment Overview
    8.2. Online
    8.3. Offline

9. Global Ethyl Acetate 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 Ethyl Acetate Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Ethyl Acetate 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. INEOS
          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. Celanese Corp.
          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. Solvay
          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. Eastman Chemical Company
          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. Sasol 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. IOL
          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. SHOWA DENKO KK
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Daicel Corporation
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Jubilant Ingrevia Limited, Sipchem
          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. Sipchem
          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 Ethyl Acetate Market, By Application, 2019-2032 (USD Billion) 

2. Global Pigments, Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

3. Global Adhesives & Sealants, Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

4. Global Paints & Coatings, Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

5. Global Inks, Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

6. Global Process Solvents, Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

7. Global Others, Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

8. Global Ethyl Acetate Market, By End-users , 2019-2032 (USD Billion) 

9. Global Food & Beverages, Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

10. Global Pharmaceutical, Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

11. Global Automotive, Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

12. Global Leather, Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

13. Global Packaging, Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

14. Global Others, Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

15. Global Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

16. Global Online, Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

17. Global Offline, Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

18. Global Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

19. North America Ethyl Acetate Market, By Application, 2019-2032 (USD Billion) 

20. North America Ethyl Acetate Market, By End-users , 2019-2032 (USD Billion) 

21. North America Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion)

22. U.S. Ethyl Acetate Market, By Application, 2019-2032 (USD Billion) 

23. U.S. Ethyl Acetate Market, By End-users , 2019-2032 (USD Billion) 

24. U.S. Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

25. Canada Ethyl Acetate Market, By Application, 2019-2032 (USD Billion) 

26. Canada Ethyl Acetate Market, By End-users , 2019-2032 (USD Billion) 

27. Canada Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

28. Mexico Ethyl Acetate Market, By Application, 2019-2032 (USD Billion) 

29. Mexico Ethyl Acetate Market, By End-users , 2019-2032 (USD Billion) 

30. Mexico Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

31. Europe Ethyl Acetate Market, By Application, 2019-2032 (USD Billion) 

32. Europe Ethyl Acetate Market, By End-users , 2019-2032 (USD Billion) 

33. Europe Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion)

34. Germany Ethyl Acetate Market, By Application, 2019-2032 (USD Billion) 

35. Germany Ethyl Acetate Market, By End-users , 2019-2032 (USD Billion) 

36. Germany Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

37. France Ethyl Acetate Market, By Application, 2019-2032 (USD Billion) 

38. France Ethyl Acetate Market, By End-users , 2019-2032 (USD Billion) 

39. France Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

40. U.K. Ethyl Acetate Market, By Application, 2019-2032 (USD Billion) 

41. U.K. Ethyl Acetate Market, By End-users , 2019-2032 (USD Billion) 

42. U.K. Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

43. Italy Ethyl Acetate Market, By Application, 2019-2032 (USD Billion) 

44. Italy Ethyl Acetate Market, By End-users , 2019-2032 (USD Billion) 

45. Italy Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

46. Spain Ethyl Acetate Market, By Application, 2019-2032 (USD Billion) 

47. Spain Ethyl Acetate Market, By End-users , 2019-2032 (USD Billion) 

48. Spain Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

49. Asia Pacific Ethyl Acetate Market, By Application, 2019-2032 (USD Billion) 

50. Asia Pacific Ethyl Acetate Market, By End-users , 2019-2032 (USD Billion) 

51. Asia Pacific Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

52. Japan Ethyl Acetate Market, By Application, 2019-2032 (USD Billion) 

53. Japan Ethyl Acetate Market, By End-users , 2019-2032 (USD Billion) 

54. Japan Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion)

55. China Ethyl Acetate Market, By Application, 2019-2032 (USD Billion) 

56. China Ethyl Acetate Market, By End-users , 2019-2032 (USD Billion) 

57. China Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

58. India Ethyl Acetate Market, By Application, 2019-2032 (USD Billion) 

59. India Ethyl Acetate Market, By End-users , 2019-2032 (USD Billion) 

60. India Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

61. South America Ethyl Acetate Market, By Application, 2019-2032 (USD Billion) 

62. South America Ethyl Acetate Market, By End-users , 2019-2032 (USD Billion) 

63. South America Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

64. Brazil Ethyl Acetate Market, By Application, 2019-2032 (USD Billion) 

65. Brazil Ethyl Acetate Market, By End-users , 2019-2032 (USD Billion) 

66. Brazil Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

67. Middle East and Africa Ethyl Acetate Market, By Application, 2019-2032 (USD Billion) 

68. Middle East and Africa Ethyl Acetate Market, By End-users , 2019-2032 (USD Billion) 

69. Middle East and Africa Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

70. UAE Ethyl Acetate Market, By Application, 2019-2032 (USD Billion) 

71. UAE Ethyl Acetate Market, By End-users , 2019-2032 (USD Billion) 

72. UAE Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

73. South Africa Ethyl Acetate Market, By Application, 2019-2032 (USD Billion) 

74. South Africa Ethyl Acetate Market, By End-users , 2019-2032 (USD Billion) 

75. South Africa Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

List of Figures

1. Global Ethyl Acetate Market Segmentation

2. Ethyl Acetate 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 Ethyl Acetate Market Attractiveness Analysis by Application

9. Global Ethyl Acetate Market Attractiveness Analysis by End-users 

10. Global Ethyl Acetate Market Attractiveness Analysis by Distribution Channel

11. Global Ethyl Acetate Market Attractiveness Analysis by Region

12. Global Ethyl Acetate Market: Dynamics

13. Global Ethyl Acetate Market Share by Application (2022 & 2032)

14. Global Ethyl Acetate Market Share by End-users  (2022 & 2032)

15. Global Ethyl Acetate Market Share by Distribution Channel (2022 & 2032)

16. Global Ethyl Acetate Market Share by Regions (2022 & 2032)

17. Global Ethyl Acetate Market Share by Company (2022)

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

Global Ethyl Acetate Market by Application:

  • Pigments
  • Adhesives & Sealants
  • Paints & Coatings
  • Inks
  • Process Solvents
  • Others

Global Ethyl acetate Market by End-users:

  • Food & Beverages
  • Pharmaceutical
  • Automotive
  • Leather
  • Packaging
  • Others

Global Ethyl acetate Market by Distribution Channel:

  • Online
  • Offline

Global Ethyl acetate 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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