Metal Recycling Market

Metal Recycling Market Size by Type (Ferrous, Non-Ferrous), Equipment (Shredders, Shears, Granulating Machines and Briuetting Machines), End-Use Sector, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2028

Base Year: 2020 Historical Data: 2018-19
  • Report ID: TBI-12576
  • Published Date: Oct, 2021
  • Pages: 234
  • Category: Chemicals & Materials
  • Format: PDF
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Global metal recycling market is anticipated to reach USD 88.18 billion by 2028, at a CAGR of 10.72%from 2021 to 2028. The global metal recycling market is anticipated to have a boost in the coming future. Growing urban population is the key factor that has propelled the global market growth. Furthermore, increasing awareness of the importance of resource conservation and waste management is also driving the growth of the global demand for metal recycling.

Market Overview:

Metals are important, flexible and can be used in several ways. Metals may be used for industrial uses such as the manufacture of vehicles, airplanes, ships and railways. They can even be used in the production of domestic products such as cutlery, crockery and also in packaging. The positive thing about recycling metal is that, without altering its characteristics, metal can be recycled again and again.Metal consists of two types, nonferrous and ferrous. Examples of nonferrous metals comprise steel and iron, and aluminum, brass and copper. Steel is the most recycled material in the world per tonne, 100 per cent recyclable. Considering the magnetic properties of steels, the sorting of ferrous metals from nonferrous metals is often simpler and less expensive than sorting various plastics.

Metal recycling is a method as well as the foundation for a strong industry. Recycling of scrap metal includes the recovery and processing of scrap metal from end-of-life products or structures as well as from manufacturing scrap, so that it can be used as a raw material in the manufacture of new goods. With no loss in its properties it can be recycled repeatedly. Since the early ages of metalworking, scrap metal has been salvaged and reused. Metal recycling is extremely useful from both an environmental and an economical point of view. Metal recycling cycle consists few stages. Metal from scrap yards is obtained, where it is placed into bins. Some nonferrous metal products that contain a component of iron or steel are considered as scrap steel. Scrap metal centers then sell the scrap to bigger super collectors, there it is shredded and then melted in high-temperature furnaces to make blocks, sheets or ingots for sale to producers of metal goods.

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Market Dynamics:

Drivers:
  • Increased awareness about resource efficiency

Growing urbanization is the key factor that has driven global market growth. Furthermore, increasing awareness of the importance of resource conservation and waste reduction is also driving the growth of the global market for metal recycling.

Restraints:
  • High cost for production

High production and recycling costs are the key reason for restraining the global metal recycling market growth. High raw material costs are one of the factors that is diminishing global market growth. In addition, high labour costs are also one of the main factors that restrain global market growth.

Opportunities:
  • Favorable regulations

Growing concern about the increasing depletion of natural resources has prompted governments in many countries to introduce favorable policies for the metal recycling industry, which is further propelling the demand for metal recycling.

Segmentation Analysis:

The global metal recycling market has been segmented based on type, equipment, end-use sector and regions.

  • The type segment is divided into non-ferrous and ferrous. The ferrous segment held the largest market share of around 58.5% in 2020 owing to high use of scraps and their recycling rate.
  • The equipment type segment includes shredders, shears, granulating machines and briuetting machines. The shredders segment held the largest market share of around 27.6% in 2020 because they are widely used for reducing waste to a standard shape and size to separate and process it further.
  • The end-use sector segment includes building & construction, automotive, equipment manufacturing, shipbuilding, packaging, consumer appliances and others. The building & construction segment is anticipated to grow at the highest CAGR of around 11.5% over the forecast period because the need to reduce the effect of mining metals on the environment has promoted the usage of recycled metals in the building & construction sector.
Regional Segmentation Analysis:

The regions evaluated for the metal recycling market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa.The Asia Pacific region emerged as the largest market for the metal recycling, with a 30.4% share of market revenue in 2020. Moreover, over the forecast period Asia Pacific is expected to continue its dominance in the market.

  • This was because of its increasing economic growth. Rising household incomes and growing middle-class populations is anticipated to drive the regional growth over the forecast period.

Asia Pacific Metal Recycling Market Share in 2020- 30.4%

 

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Competitive Analysis:

In May 2018,Nucor declared it will build a new micro rebar mill in Florida. The rebar mill will have a capacity of 350,000 tons each year and is projected to employ about 250 workers. This plant would use both the ferrous and non-ferrous scrap metals for rebar production.

  • ArcelorMittal
  • Aurubis AG
  • Commercial Metals Company
  • Gerdau S.A.
  • Industrial Services of America, Inc.
  • Nucor Corporation
  • Schnitzer Steel Industries, Inc.
  • Sims Metal Management Limited
  • Steel Dynamics, Inc.

Key Target Audience

  • Automotive Companies
  • Research and Consulting Firms
  • Consumer Appliances Manufacturers
  • Building & Construction Companies
  • Packaging Firms

Report Description

  • Global Metal Recycling Market, Industry Analysis, Trends, Analysis and Forecast, 2021 to 2028 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 2028 are the forecast years. The global metal recycling market is based on revenue (USD billion). The report incorporates the market study on the basis of revenue. The study covers the market share revenue/market share for each of the segments, regions and countries catering to global metal recycling market. The regions evaluated for the metal recycling 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 metal recycling and region swhich are deduced and formulated on the basis of their growth rate (CAGR), market size, and attractiveness by analyzing the present and future 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 metal recycling market. This offersvital 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 metal recycling 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 acts as a key potential for the investors. 
  • Potential growth prospects along with the penetration rate analysis of the products (market related i.e., global metal recycling 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 metal recycling market was valued at USD 40.40 billion in 2020 and is anticipated to reach USD 88.18 billion by 2028.

Global metal recycling market is growing at a CAGR of 10.72% during the forecast period 2021-2028.

The global metal recycling market has been segmented based on type, equipment, end-use sector and regions. The ferrous segment held the largest market share in 2020.

The Asia Pacific region emerged as the largest market for the metal recycling.

Increased awareness about resource efficiency is the key driving factor for the metal recycling market.

High cost for production could hamper the market growth.

Favourable regulations will provide huge opportunities to the market.

Key players are ArcelorMittal, Aurubis AG, Commercial Metals Company, Gerdau S.A., Industrial Services of America, Inc., Nucor Corporation, Schnitzer Steel Industries, Inc.

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

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Type
          4.3.2. Market Attractiveness Analysis By Equipment Type
          4.3.3. Market Attractiveness Analysis By End-use Sector
          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. Increased Awareness About Resource Efficiency
    5.3. Restraints
          5.3.1. High Cost For Production
    5.4. Opportunities
          5.4.1. Favourable Regulations

6. Global Metal Recycling Market Analysis and Forecast, By Type
    6.1. Segment Overview
    6.2. Non-Ferrous
    6.3. Ferrous

7. Global Metal Recycling Market Analysis and Forecast, By Equipment Type
    7.1. Segment Overview
    7.2. Shredders
    7.3. Shears
    7.4. Granulating Machines
    7.5. Briquetting Machines

8. Global Metal Recycling Market Analysis and Forecast, By End-use Sector
    8.1. Segment Overview
    8.2. Building & Construction
    8.3. Automotive
    8.4. Equipment Manufacturing
    8.5. Shipbuilding
    8.6. Packaging
    8.7. Consumer Appliances
    8.8. Others

9. Global Metal Recycling 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 Metal Recycling Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in Global Metal Recycling 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. ArcelorMittal
          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. Aurubis AG
          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. Commercial Metals Company
          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. Gerdau S.A.
          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. Industrial Services of America, 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. Nucor Corporation
          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. Schnitzer Steel Industries, Inc.
          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. Sims Metal Management Limited
          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. Steel Dynamics, Inc.
          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

List of Table

1.Global Metal Recycling Market, By Type, 2018–2028  (USD Billion)

2.Global Non-Ferrous In Metal Recycling Market, By Region, 2018–2028 (USD Billion)

3.Global Ferrous In Metal Recycling Market, By Region, 2018–2028 (USD Billion)

4.Global Metal Recycling Market, By Equipment Type, 2018–2028 (USD Billion)

5.Global Shredders, Metal Recycling Market, By Region, 2018–2028 (USD Billion)

6.Global Shears, Metal Recycling Market, By Region, 2018–2028 (USD Billion)

7.Global Granulating Machines, Metal Recycling Market, By Region, 2018–2028 (USD Billion)

8.Global Briquetting Machines, Metal Recycling Market, By Region, 2018–2028 (USD Billion)

9.Global Metal Recycling Market, By End-use Sector, 2018–2028  (USD Billion)

10.Global Building & Construction, Metal Recycling Market, By Region, 2018–2028  (USD Billion)

11.Global Automotive, Metal Recycling Market, By Region, 2018–2028  (USD Billion)

12.Global Equipment Manufacturing, Metal Recycling Market, By Region, 2018–2028  (USD Billion)

13.Global Shipbuilding, Metal Recycling Market, By Region, 2018–2028  (USD Billion)

14.Global Packaging, Metal Recycling Market, By Region, 2018–2028  (USD Billion)

15.Global Consumer Appliances, Metal Recycling Market, By Region, 2018–2028  (USD Billion)

16.Global Others, Metal Recycling Market, By Region, 2018–2028  (USD Billion)

17.Global Metal Recycling Market, By Region, 2018–2028 (USD Billion)

18.Global Metal Recycling Market, By North America, 2018–2028 (USD Billion)

19.North America Metal Recycling Market, By Type, 2018–2028 (USD Billion)

20.North America Metal Recycling Market, By Equipment Type, 2018–2028 (USD Billion)

21.North America Metal Recycling Market, By End-use Sector, 2018–2028 (USD Billion)

22.U.S. Metal Recycling Market, By Type, 2018–2028 (USD Billion)

23.U.S. Metal Recycling Market, By Equipment Type, 2018–2028 (USD Billion)

24.U.S.Metal Recycling Market, By End-use Sector, 2018–2028 (USD Billion)

25.Canada Metal Recycling Market, By Type, 2018–2028 (USD Billion)

26.Canada Metal Recycling Market, By Equipment Type, 2018–2028 (USD Billion)

27.CanadaMetal Recycling Market, By End-use Sector, 2018–2028 (USD Billion)

28.Mexico Metal Recycling Market, By Type, 2018–2028 (USD Billion)

29.Mexico Metal Recycling Market, By Equipment Type, 2018–2028 (USD Billion)

30.MexicoMetal Recycling Market, By End-use Sector, 2018–2028 (USD Billion)

31.Europe Metal Recycling Market, By Type, 2018–2028 (USD Billion)

32.Europe Metal Recycling Market, By Equipment Type, 2018–2028 (USD Billion)

33.Europe Metal Recycling Market, By End-use Sector, 2018–2028 (USD Billion)

34.Germany Metal Recycling Market, By Type, 2018–2028 (USD Billion)

35.Germany Metal Recycling Market, By Equipment Type, 2018–2028 (USD Billion)

36.Germany Metal Recycling Market, By End-use Sector, 2018–2028 (USD Billion)

37.France Metal Recycling Market, By Type, 2018–2028 (USD Billion)

38.France Metal Recycling Market, By Equipment Type, 2018–2028 (USD Billion)

39.France Metal Recycling Market, By End-use Sector, 2018–2028 (USD Billion)

40.U.K. Metal Recycling Market, By Type, 2018–2028 (USD Billion)

41.U.K. Metal Recycling Market, By Equipment Type, 2018–2028 (USD Billion)

42.U.K. Metal Recycling Market, By End-use Sector, 2018–2028 (USD Billion)

43.Italy Metal Recycling Market, By Type, 2018–2028 (USD Billion)

44.Italy Metal Recycling Market, By Equipment Type, 2018–2028 (USD Billion)

45.Italy Metal Recycling Market, By End-use Sector, 2018–2028 (USD Billion)

46.Spain Metal Recycling Market, By Type, 2018–2028 (USD Billion)

47.Spain Metal Recycling Market, By Equipment Type, 2018–2028 (USD Billion)

48.Spain Metal Recycling Market, By End-use Sector, 2018–2028 (USD Billion)

49.Asia Pacific Metal Recycling Market, By Type, 2018–2028 (USD Billion)

50.Asia Pacific Metal Recycling Market, By Equipment Type, 2018–2028 (USD Billion)

51.Asia Pacific Metal Recycling Market, By End-use Sector, 2018–2028 (USD Billion)

52.Japan Metal Recycling Market, By Type, 2018–2028 (USD Billion)

53.Japan Metal Recycling Market, By Equipment Type, 2018–2028 (USD Billion)

54.Japan Metal Recycling Market, By End-use Sector, 2018–2028 (USD Billion)

55.China Metal Recycling Market, By Type, 2018–2028 (USD Billion)

56.China Metal Recycling Market, By Equipment Type, 2018–2028 (USD Billion)

57.China Metal Recycling Market, By End-use Sector, 2018–2028 (USD Billion)

58.India Metal Recycling Market, By Type, 2018–2028 (USD Billion)

59.India Metal Recycling Market, By Equipment Type, 2018–2028 (USD Billion)

60.India Metal Recycling Market, By End-use Sector, 2018–2028 (USD Billion)

61.South America Metal Recycling Market, By Type, 2018–2028 (USD Billion)

62.South America Metal Recycling Market, By Equipment Type, 2018–2028 (USD Billion)

63.South America Metal Recycling Market, By End-use Sector, 2018–2028 (USD Billion)

64.Brazil Metal Recycling Market, By Type, 2018–2028 (USD Billion)

65.Brazil Metal Recycling Market, By Equipment Type, 2018–2028 (USD Billion)

66.Brazil Metal Recycling Market, By End-use Sector, 2018–2028 (USD Billion)

67.Middle East and Africa Metal Recycling Market, By Type, 2018–2028 (USD Billion)

68.Middle East and Africa Metal Recycling Market, By Equipment Type, 2018–2028 (USD Billion)

69.Middle East Metal Recycling Market, By End-use Sector, 2018–2028 (USD Billion)

70.UAE Metal Recycling Market, By Type, 2018–2028 (USD Billion)

71.UAE Metal Recycling Market, By Equipment Type, 2018–2028 (USD Billion)

72.UAE Metal Recycling Market, By End-use Sector, 2018–2028 (USD Billion)

73.South Africa Metal Recycling Market, By Type, 2018–2028 (USD Billion)

74.South Africa Metal Recycling Market, By Equipment Type, 2018–2028 (USD Billion)

75.South Africa Metal Recycling Market, By End-use Sector, 2018–2028 (USD Billion)

List of Figures 

1.Global Metal Recycling Market Segmentation

2.Metal Recycling 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 Metal Recycling Market Attractiveness Analysis By Type

9.Global Metal Recycling Market Attractiveness Analysis By Equipment Type

10.Global Metal Recycling Market Attractiveness Analysis By End-use Sector

11.Global Metal Recycling Market Attractiveness Analysis By Region

12.Global Metal Recycling Market: Dynamics

13.Global Metal Recycling Market Share By Type(2021 & 2028)

14.Global Metal Recycling Market Share By Equipment Type(2021 & 2028)

15.Global Metal Recycling Market Share By End-use Sector(2021 & 2028)

16.Global Metal Recycling Market Share by Regions (2021 & 2028)

17.Global Metal Recycling Market Share by Company (2019)

This study forecasts revenue growth at global, regional, and country levels from 2018 to 2028. The Brainy Insights has segmented the global metal recycling market on the basis of below mentioned segments:

Global Metal Recycling Market by Type:

  • Ferrous
  • Non-Ferrous

Global Metal Recycling Market by Equipment:

  • Shredders
  • Shears
  • Granulating Machines
  • Briuetting Machines

Global Metal Recycling Market by End-User Sector:

  • Building & Construction
  • Automotive
  • Equipment Manufacturing
  • Shipbuilding
  • Packaging
  • Consumer Appliances
  • Others

Global Metal Recycling 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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