Ferroalloys Market

Ferroalloys Market Size by Type (Ferrochrome, Ferromanganese, Ferro Silico Manganese, Ferrosilicon), Application (Carbon & Low Alloy steel, Stainless Steel, Alloy Steel, Cast Iron), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2030

Base Year: 2020 Historical Data: 2018-19
  • Report ID: TBI-12643
  • Published Date: Jan, 2022
  • Pages: 234
  • Category: Chemicals & Materials
  • Format: PDF
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Global ferroalloys market is anticipated to reach USD 74.92 billion by 2030, at a CAGR of 7.46% from 2021 to 2030. The rising steel demand in the various end use sectors such as construction, automotive, shipbuilding etc. is boosting the production of ferroalloys over the forecast period.

Market Overview:

Ferroalloys are the group of alloys of iron that contain one or more additional elements other than carbon. Ferroalloys have a high percentage of chromium, silicon, manganese, aluminum, etc. These ferroalloys are mainly used in the production of steel and cast iron. This is mainly because it is one of the economical ways to introduce the alloys into the steel melt. Ferroalloys are incorporated in the molten stage of steel making for the purpose of producing specific characteristics in the steel. The Ferroalloys industry is closely related to the steel and iron industry as the ferroalloys are widely used in steelmaking.

Ferroalloys are the integral components of steel making business, as they are highly used material for refining, desulphurization, and deoxidation to achieve the desired physical and chemical properties in the steel. Therefore, they have a more significant influence on the steel and iron sector globally. They are one of the essential raw materials in the production of steel alloys and stainless steel. The ferroalloys are generally classified into broad categories such as bulk ferroalloys and normal or special ferroalloys. The bulk ferroalloys are mainly produced in large quantities in electric arc furnaces. The special ferroalloys are produced in small quantities.

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Market Dynamics:

Drivers:
  • Rising steel demand across the globe

The World Steel Association has released the report for 2021 and 2022, which states that steel demand is expected to grow by 4.5% in 2021 to reach 1.874 billion mt, after 0.1% growth in the year 2020. In 2022, the steel demand will further increase by 2.2%. Rising manufacturing activities across the globe are one of the key factors which are driving the demand for steel. Ferroalloys are mainly used in steelmaking to introduce the specific properties of steel. Thus, rising steel demand across the globe is boosting the growth of ferroalloys over the forecast period.

  • Increasing industrialization and booming construction sector

The increasing popularity of steel in various end-use sectors is driving the growth of the market. The booming construction industry and rising steel use in the sector are major contributors to the growth of ferroalloys. Rising various government initiatives for the development of infrastructures such as roadways, bridges, and dams, further boosting the growth of the construction sector growth.

Restraints:
  • High energy requirement for the ferroalloys production

Ferroalloys manufacturing is one of the highly energy-intensive processes. The power cost contributes to more than 30% of the total cost of production of ferroalloys. The energy is mostly consumed by the electric arc furnaces, which are submerged EAF and are in continuous operation. Thus, the high energy requirement for the ferroalloys production could hinder the growth of the market over the forecast period.

Opportunities:
  • Rising economic growth of developing region

Rising economic growth of the Asia Pacific region and increased ferroalloys production in the Africa region have increased the market for the ferroalloy across the globe. Increasing domestic consumption and export from the countries such as China, India, and Japan have mainly contributed to the growth of the ferroalloys market. In India, various infrastructure projects such as railway network expansion, rising automobile production, and the development of the shipbuilding industry are creating a significant demand for steel, which is likely to push the demand for ferroalloys over the forecast period.

Challenges:
  • Raw material shortage

In recent years, ferroalloys companies have been facing raw material shortage issues. Raw materials required for the ferroalloys production are manganese, coke, and chrome ore. Many countries do not have abundant raw materials for manufacturing ferroalloys, and thus, they have to import them from other countries at higher prices. Thus, raw material shortage for the production of the ferroalloys may hamper the growth of the market over the forecast period.

Segmentation Analysis:

The global ferroalloys market has been classified based on type, application, and regions.

  • The type segment is divided into ferrochrome, ferromanganese, ferro silico manganese, and ferrosilicon. The ferromanganese segment led the ferroalloys market with a market share of around 24.69% in 2020. Ferromanganese is the ferroalloys with high manganese content. It is mainly used in the foundry and steel industry, where silicon content needs to be controlled at a low level. It is mainly used in silico manganese manganese-rich steel, production of flat steel, and stainless steel products.
  • The application segment is divided into carbon & low alloy steel, stainless steel, alloy steel, cast iron, and others. The cast iron segment is anticipated to grow at the highest CAGR of 8.9% over the forecast period. Cast iron is a ferrous alloy with a small percentage of manganese, tungsten, nickel, chromium, and molybdenum. Advantages such as low cost of production, durability, and existing deformation are some of the factors driving the growth of the market.
Regional Segmentation Analysis:

The regions analysed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. The Asia Pacific region dominated the global ferroalloys market with the market share of 76.58% in the year 2020.

  • Asia Pacific region is the largest consumer of ferroalloys, owing to the high production units such as steel and cast iron present in the region. Out of all the major steel-producing countries in the world, the four countries are present in the Asia Pacific region. In addition to this, the presence of many companies in the Asia Pacific region further propels the market’s growth.
  • The Europe region held the second largest market share in the year 2020 in the global ferroalloys market. Many automotive manufacturers are present in the European region. Thus there is a high requirement for ferroalloys for auto component manufacturing.

Asia Pacific Ferroalloys Market Share in 2020 - 40.6%

 

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Competitive Analysis:

The key players of the global ferroalloys market are mainly focusing on implementation of strategies such as technology integration, new product launches, mergers & acquisitions, collaborations, joint venture, research and development activities, and partnerships to improve their market position in the global ferroalloys industry.

In April 2021, Tata Steel Mining Limited (TSML), a subsidiary of Tata Steel announced the plan to double its ferrochrome manufacturing capacity to 900,000 tonnes a year in India. This capacity expansion is mainly due to growing domestic and global customer base for the ferrochrome for making stainless steel.

List of Key Market Players:

  • S.C. Feral S.R.L
  • Samancore Chrome
  • Jindal Group
  • Gulf Ferroalloys
  • Arcelor Mittal
  • Tata Steel Limited- Tata Ferro Alloys and Minerals Division
  • SAIL
  • Shanghai Shenjia Ferroalloys Co. Ltd
  • Glencore
  • China Minmetals
  • OM Holdings
  • Brahm Group

Key Target Audience

  • Steel Production Companies
  • Cast iron Companies
  • Contractors
  • Raw Material Suppliers
  • Potential Investors
  • Traders and Distributors

Report Description:

  • Global Ferroalloys Market, Industry Analysis, Trends, Analysis and Forecast, 2021 to 2030 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2020 is considered as the base year of the report. 2018 and 2019 are considered as the historic years and 2021 to 2030 are the forecast years. The global Ferroalloys market is based on revenue (USD Million/Billion), volume (K Tons), and price. The report incorporates the market study on the basis of revenue and volume. The study covers the market share revenue/market share/volume for each of the segments, regions and countries catering to global ferroalloys market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses with the relative data & information, which have been validated by the leading industry professionals and experts all across the globe. The research report also delivers an outline of the attractiveness of ferroalloys and regions which are deduced and formulated on the basis of their growth rate (CAGR), market size, and attractiveness by analyzing the present and future prospects to market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to global ferroalloys market. This offers vital and in depth insights in order to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global ferroalloys market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario. 
  • The report provides an elaborative assessment of the porter’s five forces analysis coupled with SWOT analysis so as to provide business related data and information’s. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company growth and development in order to sustain and survive in the long run.
  • Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which act as a key potential for the investors.
  • Potential growth prospects along with the penetration rate analysis of the products (market related i.e., global ferroalloys market is covered in order to comprehend the adoption rate and evaluate the market size.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the ferroalloys market was valued at USD 41.58 billion in 2020 and is anticipated to reach USD 74.92 billion by 2030.

Global ferroalloys market is growing at a CAGR of 7.46% during the forecast period 2021-2030.

The global ferroalloys market has been segmented based on type, application, and regions. The ferromanganese segment led the ferroalloys market. The ferrosilicon segment expected to grow at the highest CAGR over the forecast period.

The Asia Pacific region emerged as the largest market for the ferroalloys.

The rapid development of construction sector in all over the world is one of the key contributing factor for the growth of market.

The fluctuation in the raw material prices could hamper the growth of the market over the forecast period.

Rising steel production across the globe is expected to offer the future growth opportunity in the market.

Key players are S.C. Feral S.R.L, Samancore Chrome, Jindal Group, Gulf Ferroalloys, Arcelor Mittal, Tata Steel Limited- Tata Ferro Alloys and Minerals Division, SAIL, Shanghai Shenjia Ferroalloys Co. Ltd, Glencore, China Minmetals, OM Holdings

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 Type
          4.3.2. Market Attractiveness Analysis By Application
          4.3.3. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Rising steel demand across the end use industries
          5.2.2. Growing construction industry
    5.3. Restrains
          5.3.1. High energy Consumption
    5.4. Opportunities
          5.4.1. Increasing Steel production across the globe
    5.5. Challenges
          5.5.1. Fluctuation in the raw material prices

6. Global Ferroalloys Market Analysis and Forecast, By Type
    6.1. Segment Overview
    6.2. Ferrochrome
    6.3. Ferromanganese
    6.4. Ferro Silico Manganese
    6.5. Ferrosilicon

7. Global Ferroalloys Market Analysis and Forecast, By Application
    7.1. Segment Overview
    7.2. Carbon & Low Alloy steel
    7.3. Stainless Steel
    7.4. Alloy Steel
    7.5. Cast Iron
    7.6. Others

8. Global Ferroalloys Market Analysis and Forecast, By Regional Analysis
    8.1. Segment Overview
    8.2. North America
          8.2.1. U.S.
          8.2.2. Canada
          8.2.3. Mexico
    8.3. Europe
          8.3.1. Germany
          8.3.2. France
          8.3.3. U.K.
          8.3.4. Italy
          8.3.5. Spain
    8.4. Asia-Pacific
          8.4.1. Japan
          8.4.2. China
          8.4.3. India
    8.5. South America
          8.5.1. Brazil
    8.6. Middle East and Africa
          8.6.1. UAE
          8.6.2. South Africa

9. Global Ferroalloys Market-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in the Ferroalloys Market
          9.2.1. Global Company Market Share
          9.2.2. North America Company Market Share
          9.2.3. Europe Company Market Share
          9.2.4. APAC Company Market Share
    9.3. Competitive Situations and Trends
          9.3.1. Product Launches and Developments
          9.3.2. Partnerships, Collaborations, and Agreements
          9.3.3. Mergers & Acquisitions
          9.3.4. Expansions

10. Company Profiles
    10.1. S.C. Feral S.R.L,
          10.1.1. Business Overview
          10.1.2. Company Snapshot
          10.1.3. Company Market Share Analysis
          10.1.4. Company Product Portfolio
          10.1.5. Recent Developments
          10.1.6. SWOT Analysis
    10.2. Samancore Chrome
          10.2.1. Business Overview
          10.2.2. Company Snapshot
          10.2.3. Company Market Share Analysis
          10.2.4. Company Product Portfolio
          10.2.5. Recent Developments
          10.2.6. SWOT Analysis
    10.3. Jindal Group
          10.3.1. Business Overview
          10.3.2. Company Snapshot
          10.3.3. Company Market Share Analysis
          10.3.4. Company Product Portfolio
          10.3.5. Recent Developments
          10.3.6. SWOT Analysis
    10.4. Gulf Ferroalloys
          10.4.1. Business Overview
          10.4.2. Company Snapshot
          10.4.3. Company Market Share Analysis
          10.4.4. Company Product Portfolio
          10.4.5. Recent Developments
          10.4.6. SWOT Analysis
    10.5. Arcelor Mittal
          10.5.1. Business Overview
          10.5.2. Company Snapshot
          10.5.3. Company Market Share Analysis
          10.5.4. Company Product Portfolio
          10.5.5. Recent Developments
          10.5.6. SWOT Analysis
    10.6. Tata Steel Limited- Tata Ferro Alloys and Minerals Division
          10.6.1. Business Overview
          10.6.2. Company Snapshot
          10.6.3. Company Market Share Analysis
          10.6.4. Company Product Portfolio
          10.6.5. Recent Developments
          10.6.6. SWOT Analysis
    10.7. SAIL
          10.7.1. Business Overview
          10.7.2. Company Snapshot
          10.7.3. Company Market Share Analysis
          10.7.4. Company Product Portfolio
          10.7.5. Recent Developments
          10.7.6. SWOT Analysis
    10.8. Shanghai Shenjia Ferroalloys Co. Ltd
          10.8.1. Business Overview
          10.8.2. Company Snapshot
          10.8.3. Company Market Share Analysis
          10.8.4. Company Product Portfolio
          10.8.5. Recent Developments
          10.8.6. SWOT Analysis
    10.9. Glencore
          10.9.1. Business Overview
          10.9.2. Company Snapshot
          10.9.3. Company Market Share Analysis
          10.9.4. Company Product Portfolio
          10.9.5. Recent Developments
          10.9.6. SWOT Analysis
    10.10. China Minmetals, OM Holdings
          10.10.1. Business Overview
          10.10.2. Company Snapshot
          10.10.3. Company Market Share Analysis
          10.10.4. Company Product Portfolio
          10.10.5. Recent Developments
          10.10.6. SWOT Analysis
    10.11. Brahm Group
          10.11.1. Business Overview
          10.11.2. Company Snapshot
          10.11.3. Company Market Share Analysis
          10.11.4. Company Product Portfolio
          10.11.5. Recent Developments
          10.11.6. SWOT Analysis
 

List of Table

1. Global Ferroalloys Market, By Type, 2018–2030 (USD Billion) (K Tons)

2. Global  Ferrochrome, Ferroalloys  Market, By Region, 2018–2030 (USD Billion) (K Tons)

3. Global Ferromanganese, Ferroalloys Market, By Region, 2018–2030 (USD Billion) (K Tons)

4. Global  Ferro Silico Manganese, Ferroalloys  Market, By Region, 2018–2030 (USD Billion) (K Tons)

5. Global Ferrosilicon, Ferroalloys Market, By Region, 2018–2030 (USD Billion) (K Tons)

6. Global Ferroalloys Market, By Application, 2018–2030 (USD Billion) (K Tons)

7. Global Carbon & Low Alloy steel Market, By Region, 2018–2030 (USD Billion) (K Tons)

8. Global Stainless Steel, Ferroalloys Market, By Region, 2018–2030 (USD Billion) (K Tons)

9. Global Cast Iron, Ferroalloys Market, By Region, 2018–2030 (USD Billion) (K Tons)

10. Global Alloy Steel, Ferroalloys Market, By Region, 2018–2030 (USD Billion) (K Tons)

11. Global Others, Ferroalloys Market, By Region, 2018–2030 (USD Billion) (K Tons)

12. Global Ferroalloys Market, By Region, 2018–2030 (USD Billion) (K Tons)

13. North America Ferroalloys Market, By Type, 2018–2030 (USD Billion) (K Tons)

14. North America Ferroalloys Market, By Application, 2018–2030 (USD Billion) (K Tons)

15. U.S. Ferroalloys Market, By Type, 2018–2030 (USD Billion) (K Tons)

16. U.S. Ferroalloys Market, By Application, 2018–2030 (USD Billion) (K Tons)

17. Canada Ferroalloys Market, By Type, 2018–2030 (USD Billion) (K Tons)

18. Canada Ferroalloys Market, By Application, 2018–2030 (USD Billion) (K Tons)

19. Mexico Ferroalloys Market, By Type, 2018–2030 (USD Billion) (K Tons)

20. Mexico Ferroalloys Market, By Application, 2018–2030 (USD Billion) (K Tons)

21. Europe Ferroalloys Market, By Type, 2018–2030 (USD Billion) (K Tons)

22. Europe Ferroalloys Market, By Application, 2018–2030 (USD Billion) (K Tons)

23. Germany Ferroalloys Market, By Type, 2018–2030 (USD Billion) (K Tons)

24. Germany Ferroalloys Market, By Application, 2018–2030 (USD Billion) (K Tons)

25. France Ferroalloys Market, By Type, 2018–2030 (USD Billion) (K Tons)

26. France Ferroalloys Market, By Application, 2018–2030 (USD Billion) (K Tons)

27. U.K. Ferroalloys Market, By Type, 2018–2030 (USD Billion) (K Tons)

28. U.K. Ferroalloys Market, By Application, 2018–2030 (USD Billion) (K Tons)

29. Italy Ferroalloys Market, By Type, 2018–2030 (USD Billion) (K Tons)

30. Italy Ferroalloys Market, By Application, 2018–2030 (USD Billion) (K Tons)

31. Spain Ferroalloys Market, By Type, 2018–2030 (USD Billion) (K Tons)

32. Spain Ferroalloys Market, By Application, 2018–2030 (USD Billion) (K Tons)

33. Asia Pacific Ferroalloys Market, By Type, 2018–2030 (USD Billion) (K Tons)

34. Asia Pacific Ferroalloys Market, By Application, 2018–2030 (USD Billion) (K Tons)

35. Japan Ferroalloys Market, By Type, 2018–2030 (USD Billion) (K Tons)

36. Japan Ferroalloys Market, By Application, 2018–2030 (USD Billion) (K Tons)

37. China Ferroalloys Market, By Type, 2018–2030 (USD Billion) (K Tons)

38. China Ferroalloys Market, By Application, 2018–2030 (USD Billion) (K Tons)

39. India Ferroalloys Market, By Type, 2018–2030 (USD Billion) (K Tons)

40. India Ferroalloys Market, By Application, 2018–2030 (USD Billion) (K Tons)

41. South America Ferroalloys Market, By Type, 2018–2030 (USD Billion) (K Tons)

42. South America Ferroalloys Market, By Application, 2018–2030 (USD Billion) (K Tons)

43. Brazil Ferroalloys Market, By Type, 2018–2030 (USD Billion) (K Tons)

44. Brazil Ferroalloys Market, By Application, 2018–2030 (USD Billion) (K Tons)

45. Middle East and Africa Ferroalloys Market, By Type, 2018–2030 (USD Billion) (K Tons)

46. Middle East and Africa Ferroalloys Market, By Application, 2018–2030 (USD Billion) (K Tons)

47. UAE Ferroalloys Market, By Type, 2018–2030 (USD Billion) (K Tons)

48. UAE Ferroalloys Market, By Application, 2018–2030 (USD Billion) (K Tons)

49. South Africa Ferroalloys Market, By Type, 2018–2030 (USD Billion) (K Tons)

50. South Africa Ferroalloys Market, By Application, 2018–2030 (USD Billion) (K Tons)

List of Figures 

1. Global Ferroalloys Market Segmentation

2. Ferroalloys 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 Ferroalloys Market Attractiveness Analysis By Type

9. Global Ferroalloys Market Attractiveness Analysis By Application

10. Global Ferroalloys Market Attractiveness Analysis By Region

11. Global Ferroalloys Market: Dynamics

12. Global Ferroalloys Market Share By Type(2021 & 2030)

13. Global Ferroalloys Market Share By Application(2021 & 2030)

14. Global Ferroalloys Market Share by Regions (2021 & 2030)

15. Global Ferroalloys Market Share by Company (2021)

This study forecasts revenue and volume growth at global, regional, and country levels from 2018 to 2030. The Brainy Insights has segmented the global Ferroalloys market on the basis of below mentioned segments:

Global Ferroalloys Market by Type:

  • Ferrochrome
  • Ferromanganese
  • Ferro Silico Manganese
  • Ferrosilicon

Global Ferroalloys Market by Application:

  • Carbon & Low Alloy steel
  • Stainless Steel
  • Alloy Steel
  • Cast Iron
  • Others

Global Ferroalloys 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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