Melamine Market

Melamine Market Size by Application (Thermoset Plastics, Wood Adhesives, Surface Coatings, & Laminates), Type (Melamine Resin & Melamine Foam), End-User, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-12737
  • Published Date: Jul, 2024
  • Pages: 239
  • Category: Chemicals & Materials
  • Format: PDF
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Global melamine market is expected to reach USD 2,101.13 Million by 2033, at a CAGR of 4.25% from 2024 to 2033. Melamine market growth would be driven by the increased need for melamine goods due to their more excellent finish and automated properties.  Melamine resin is utilized for manufacturing building materials, cookware, furniture lamination, fertilizers, and many more. The melamine market seems to be growing due to a surge in demand for wood adhesives and laminates. Also, an increase in disposable income and a change in people's lifestyles and preferences will further fuel the market growth.

Market Overview:

Melamine is utilized in various enterprises like the paper industry, crockery industry, paint industry, construction industry, etc., for numerous benefits. These factors act as a driver for melamine market development. The melamine market is developing more in the construction and dines ware industries as they are the rising sectors, individuals are constantly ordering fancy and weightless plastic crockery for party usage and household purposes which has become a fashion trend in today’s market, and the construction industry is additionally driving the melamine, demanding fancy coating, floor coating, and paint for walls and material for different interior designing goal. Melamine is also used in decorative products for lamination such as flooring lamination etc. Melamine is constantly rising due to its multiple uses in various products. It is also utilized as a raw material for completing the final product in many finished goods. Coming predictions reveal steady development in the melamine market until 2030. The toxicity of melamine acts as one of the limitations in the growth of the melamine market; many people and health associations recommend avoiding the use of melamine in direct contact with skin as it can be harmful. The health conscious people avoid using melamine in crockery. So, in that case, steel crockery is used more.

Melamine Market Size

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Market Dynamics:

Drivers
  • Increasing need for melamine in the automotive sector is driving the market growth

Melamine resins are beneficial, resist high temperatures, and have superior chemical resistance. It is used to manufacture decorative laminates for the car's interiors and the surface layer of automobiles. Additionally, melamine resins are also helpful in automotive to decrease solvent emissions and favorably affect the atmosphere. Increasing need for melamine foam due to its weightless material properties, it is utilized for the elements like high temperature thermal insulation and sound absorption.

Restraints:
  • Harmful health consequences of melamine

The health impacted by melamine emissions during manufacturing and construction is dangerous and a significant obstacle for the melamine market. Though melaminecoated dishware is considered safe by the FDA, there were various issues of melamine contamination in foodstuffs. Melamine contamination oversees to harm the urinary system. The thermosetting nature is also a hinderance to the market of melamine. It is fixed to a form once molded accordingly, offering restricted scope for recycling and reformation.

Opportunities:
  • Technological advancements

Melamine is a nitrogen-rich organic mixture. It is combined with formaldehyde and different compounds to create resins utilized to fabricate stable thermosetting plastics. Also, it has multiple uses, like, flame retardants, construction materials, and fertilizers. Melamine resins are robust and stable polymers that can be pigmented and set into various shapes. Thus, it has multiple industrial uses. It is utilized as a coating material for paper, textiles, and wood or put into dishes and utensils as a laminating agent. Melamine objects are weightless, fireproof and scratchproof.

Challenges:
  • Increased toxicity levels of melamine will hinder the market development

Consumption of melamine may lead to kidney or bladder stones, or reproductive harm leads to bladder cancer. As per United States Food and Drug Administration (FDA) scientists, onetime cyanuric acid and melamine are absorbed into the bloodstream, aggregate, and interact in urine-filled renal small tubes, thereby crystallizing and forming extensive portions of yellow crystals, which in favor block and eliminate the renal cells that line the channels, resulting in kidney loss. The director of Food Safety of the WHO also calculated the quantity of melamine a person may have every day without suffering a more significant threat to health is 0.2 mg per kilogram of body weight. Thus, the highly harmful level of melamine could additionally create limitations in the development of the melamine market over the projection years.

Segmentation Analysis:

The global melamine market has been segmented based on application, type, end user, and regions.

  • The application segment is divided into thermoset plastics, wood adhesives, surface coatings, & laminates. The laminates segment dominated the market, with a market share of around 26.37% in 2023. Laminates are anticipated to have a significant market presence globally due to the increasing usage of laminates among various industry sectors.
  • The type segment is divided into melamine resin & melamine foam. The melamine foam segment dominated the market, with a market share of around 56.66% in 2023.the Melamine foam  is the primary thermal and sound insulation material for the high-speed train due to its increased sound absorption, lightweight, and superior thermal insulation execution.
  • The end user segment is divided into automotive, chemical, and construction. The construction segment dominated the market, with a market share of around 37.65% in 2023. Laminates made utilizing melamine are commonly used in building and construction enterprises. Melamine is used in kitchen cupboards, countertops, flooring, furniture, and partitions in the building industry.
Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific region emerged as the largest market for the global melamine market with a 34.67% share of the market revenue in 2023.

Asia Pacific Region Melamine Market Share in 2023 - 34.67%

 

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  • The Asia Pacific currently dominates the melamine market due to the rising construction and building, textile and automotive industries. The Asia Pacific includes a significant percentage of the global melamine market and the easy availability of raw materials at competitive prices. The rapid development of the construction, building, and automotive industry in India, China, and South Korea is anticipated to push the need for melamine shortly.
Competitive Analysis:

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

List of Key Market Players:
  • BASF SE
  • Cornerstone Chemical Company
  • Henan Zhongyuan Dahua Group Co Ltd
  • Mevion Medical Systems
  • Mitsui Chemicals Inc
  • OCI Melamine, Qatar Melamine Co
  • Sichuan Chemical Holdings Co. Ltd.
  • Sichuan Golden Elephant Chemical Co
Key Target Audience
  • Automotive Industry
  • Construction and Building
  • Dine ware
  • Market Players
  • Investors
  • End-users
  • Government Authorities
  • Consulting And Research Firm
  • Venture capitalists
  • Third-party knowledge providers

Report Description:

  • Global Melamine Market, Industry Analysis, Trends, Analysis and Forecast, 2024 to 2033 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2023 is considered as the base year of the report. Year 2020 to 2022 are considered as the historic years and 2024 to 2033 are the forecast years. The global melamine market is based on revenue (USD Million). The report incorporates the market study based on revenue. The study covers the market share revenue/market share/volume for each of the segments, regions and countries catering to global melamine 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 across the globe. The research report also delivers an outline of the attractiveness of melamine based on application, type, end user and regions which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and prospects to fathom market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to global melamine market. This offers vital and in-depth insights to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global melamine market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario.
  • The report provides an elaborative assessment of the porter’s five forces analysis coupled with SWOT analysis to provide business related data and information’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 to sustain and survive in the long run.
  • Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which act as a key potential for the investors.
  • Potential growth prospects along with the penetration rate analysis of the product (market related i.e., global melamine market) is covered to comprehend the adoption rate and evaluate the market size. 

Frequesntly Asked Questions

As per The Brainy Insights, the size of the melamine market was valued at USD 1,385.77 Million in 2023 to USD 2,101.13 Million by 2033.

Global melamine market is growing at a CAGR of 4.25% during the forecast period 2024-2033.

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

The market's growth will be influenced by the increasing need for melamine in automotive sector which is driving the market growth.

Harmful health consequences of melamine could hamper the market growth.

Technological advancements of melamine systems will provide huge opportunities to the market.

Key players are BASF SE, Cornerstone Chemical Company, Henan Zhongyuan Dahua Group Co Ltd, Mevion Medical Systems, Mitsui Chemicals Inc, OCI Melamine, Qatar Melamine Co, Sichuan Chemical Holdings Co. Ltd., and Sichuan Golden Elephant Chemical Co.

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 Type
          4.3.3. Market Attractiveness Analysis by End User
          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 need for melamine for automotive sector is driving the market growth
    5.3. Restraints
          5.3.1. Harmful health CONSEQUENCES OF MELAMINE
    5.4. Opportunities
          5.4.1. Technological advancements
    5.5. Challenges
          5.5.1. Increased toxicity levels of melamine will hinder the market development

6. Global Melamine Market Analysis and Forecast, By Applicaton:
    6.1. Segment Overview
    6.2. Thermoset Plastics
    6.3. Wood Adhesives
    6.4. Surface Coatings
    6.5. Laminates

7. Global Melamine Market Analysis and Forecast, By Type
    7.1. Segment Overview
    7.2. Melamine Resin
    7.3. Melamine Foam

8. Global Melamine Market Analysis and Forecast, By End User
    8.1. Segment Overview
    8.2. Automotive
    8.3. Chemical
    8.4. Construction

9. Global Melamine 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 Melamine Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Melamine 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. BASF SE
          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. Cornerstone Chemical Company
          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. Henan Zhongyuan Dahua Group Co Ltd.
          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. Mevion Medical Systems.
          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. Mitsui Chemicals Inc
          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. OCI Melamine, Qatar Melamine Co
          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. Sichuan Chemical Holdings Co. Ltd.
          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. Sichuan Golden Elephant Chemical Co
          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

List of Table

1. Global Melamine Market, By Application, 2020-2033 (USD Million) 

2. Global Thermoset Plastics Melamine Market, By Region, 2020-2033 (USD Million) 

3. Global Wood Adhesives Melamine Market, By Region, 2020-2033 (USD Million) 

4. Global Surface Coatings Melamine Market, By Region, 2020-2033 (USD Million) 

5. Global Laminates Melamine Market, By Region, 2020-2033 (USD Million)

6. Global Melamine Market, By Type, 2020-2033 (USD Million) 

7. Global Melamine Resin Melamine Market, By Region, 2020-2033 (USD Million) 

8. Global Melamine Foam Melamine Market, By Region, 2020-2033 (USD Million)

9. Global Melamine Market, By End User, 2020-2033 (USD Million) 

10. Global Automotive Melamine Market, By Region, 2020-2033 (USD Million) 

11. Global Chemical Melamine Market, By Region, 2020-2033 (USD Million)

12. Global Construction Melamine Market, By Region, 2020-2033 (USD Million)

13. North America Melamine Market, By Application 2020-2033 (USD Million) 

14. North America Melamine Market, By Type, 2020-2033 (USD Million) 

15. North America Melamine Market, By End User, 2020-2033 (USD Million) 

16. U.S. Melamine Market, By Application, 2020-2033 (USD Million) 

17. U.S. Melamine Market, By Type, 2020-2033 (USD Million) 

18. U.S. Melamine Market, By End User, 2020-2033 (USD Million) 

19. Canada Melamine Market, By Application, 2020-2033 (USD Million) 

20. Canada Melamine Market, By Type, 2020-2033 (USD Million) 

21. Canada Melamine Market, By End User, 2020-2033 (USD Million) 

22. Mexico Melamine Market, By Application, 2020-2033 (USD Million) 

23. Mexico Melamine Market, By Type, 2020-2033 (USD Million) 

24. Mexico Melamine Market, By End User, 2020-2033 (USD Million) 

25. Europe Melamine Market, By Application, 2020-2033 (USD Million) 

26. Europe Melamine Market, By Type, 2020-2033 (USD Million) 

27. Europe Melamine Market, By End User, 2020-2033 (USD Million) 

28. Germany Melamine Market, By Application, 2020-2033 (USD Million) 

29. Germany Melamine Market, By Type, 2020-2033 (USD Million) 

30. Germany Melamine Market, By End User, 2020-2033 (USD Million) 

31. France Melamine Market, By Application, 2020-2033 (USD Million) 

32. France Melamine Market, By Type, 2020-2033 (USD Million) 

33. France Melamine Market, By End User, 2020-2033 (USD Million) 

34. U.K. Melamine Market, By Application, 2020-2033 (USD Million) 

35. U.K. Melamine Market, By Type, 2020-2033 (USD Million) 

36. U.K. Melamine Market, By End User, 2020-2033 (USD Million) 

37. Italy Melamine Market, By Application, 2020-2033 (USD Million) 

38. Italy Melamine Market, By Type, 2020-2033 (USD Million) 

39. Italy Melamine Market, By End User, 2020-2033 (USD Million) 

40. Spain Melamine Market, By Application, 2020-2033 (USD Million) 

41. Spain Melamine Market, By Type, 2020-2033 (USD Million) 

42. Spain Melamine Market, By End User, 2020-2033 (USD Million) 

43. Asia Pacific Melamine Market, By Application, 2020-2033 (USD Million) 

44. Asia Pacific Melamine Market, By Type, 2020-2033 (USD Million) 

45. Asia Pacific Melamine Market, By End User, 2020-2033 (USD Million) 

46. Japan Melamine Market, By Application, 2020-2033 (USD Million) 

47. Japan Melamine Market, By Type, 2020-2033 (USD Million) 

48. Japan Melamine Market, By End User, 2020-2033 (USD Million) 

49. China Melamine Market, By Application 2020-2033 (USD Million) 

50. China Melamine Market, By Type, 2020-2033 (USD Million) 

51. China Melamine Market, By End User, 2020-2033 (USD Million) 

52. India Melamine Market, By Application, 2020-2033 (USD Million) 

53. India Melamine Market, By Type, 2020-2033 (USD Million) 

54. India Melamine Market, By End User, 2020-2033 (USD Million) 

55. South America Melamine Market, By Application, 2020-2033 (USD Million) 

56. South America Melamine Market, By Type, 2020-2033 (USD Million) 

57. South America Melamine Market, By End User, 2020-2033 (USD Million)

58. Brazil Melamine Market, By Application, 2020-2033 (USD Million) 

59. Brazil Melamine Market, By Type, 2020-2033 (USD Million) 

60. Brazil Melamine Market, By End User, 2020-2033 (USD Million) 

61. Middle East and Africa Melamine Market, By Application, 2020-2033 (USD Million) 

62. Middle East and Africa Melamine Market, By Type, 2020-2033 (USD Million) 

63. Middle East and Africa Melamine Market, By End User, 2020-2033 (USD Million) 

64. UAE Melamine Market, By Application, 2020-2033 (USD Million) 

65. UAE Melamine Market, By Type, 2020-2033 (USD Million) 

66. UAE Melamine Market, By End User, 2020-2033 (USD Million) 

67. South Africa Melamine Market, By Application, 2020-2033 (USD Million) 

68. South Africa Melamine Market, By Type, 2020-2033 (USD Million) 

69. South Africa Melamine Market, By End User, 2020-2033 (USD Million)  

List of Figures 

1. Global Melamine Market Segmentation

2. Melamine 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 Melamine Market Attractiveness Analysis by Application

9. Global Melamine Market Attractiveness Analysis by Type

10. Global Melamine Market Attractiveness Analysis by End User

11. Global Melamine Market Attractiveness Analysis by Region

12. Global Melamine Market: Dynamics

13. Global Melamine Market Share by Application (2023 & 2033)

14. Global Melamine Market Share by Type (2023 & 2033)

15. Global Melamine Market Share by End User (2023 & 2033)

16. Global Melamine Market Share by Regions (2023 & 2033)

17. Global Melamine Market Share by Company (2023)

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global melamine market based on below mentioned segments:

Global Melamine Market by Application:

  • Thermoset Plastics
  • Wood Adhesives
  • Surface Coatings
  • Laminates

Global Melamine Market by Type:

  • Melamine Resin
  • Melamine Foam

Global Melamine Market by End User:

  • Automotive
  • Chemical
  • Construction

Global Melamine 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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