The Zero Friction Coatings Market size was valued at USD 880.4 million in 2022. It is estimated to hit USD 1351.14 million by 2030 and grow at a CAGR of 5.5% over the forecast period of 2023-2030.
The growth of the zero friction coatings market is driven by the increasing demand for high-performance materials across various industries. These coatings find extensive applications in the automotive industry, aerospace, industrial, and medical sectors, among others. The rising need for reducing energy consumption, enhancing operational efficiency, and prolonging the lifespan of equipment has further fueled the market's expansion. Factors such as technological advancements, increasing research and development activities, and the growing awareness about the benefits of these coatings are driving the market's upward trajectory. Additionally, the rising demand for eco-friendly and sustainable solutions is likely to create lucrative opportunities for market players.
Get E-PDF Sample Report on Zero Friction Coatings Market - Request Sample Report
The solvent-based coatings segment dominated the zero friction coatings market with a revenue share of about 48% in 2022. The growth is attributed to the inherent advantages of these coatings, which exhibit a reduced vulnerability to environmental conditions such as humidity and temperature during the curing phase.
The molybdenum disulfide (MoS2) type segment dominated the zero friction coatings market with a revenue share of about 52% in 2022. This growth is owing to the exceptional properties exhibited by MoS2, including its high load-carrying capacity and excellent adhesion. MoS2 serves as a dry film lubricant, effectively preventing the occurrence of galling, fretting, and seizing. The utilization of MoS2 coating solutions is particularly prevalent in critical equipment and parts, where its protective qualities are highly sought after. Additionally, it finds widespread application in corrosion management due to its non-reactivity towards most corrosive agents.
Drivers
Increasing demand for low-friction coatings in various industries
Growing production of automobiles
Restraint
Fluctuating raw material prices
Under humidity, there is a high coefficient of friction and increased resistance at low loads
An increase in humidity leads to the significant absorption of water molecules by certain zero-friction coatings. Consequently, these coatings expand in size and diminish their effectiveness as industrial lubricants. This, in turn, causes friction levels to rise, undermining the primary purpose of zero friction coatings and impeding market growth. Additionally, under high humidity conditions, these coatings become susceptible to corrosion, particularly when applied to metals.
Opportunities
Increasing adoption of PTFE-based Low Friction Coatings
PTFE coatings are widely used in various applications, particularly in nonstick and food-grade coatings. These coatings possess exceptional release properties and can withstand temperatures as high as 500°F, surpassing other fluoropolymers in extreme heat resistance. They are commonly employed in applications that necessitate a sleek, low-friction, and corrosion-resistant coating.
Challenges
High cost associated with the zero friction coatings
The ongoing conflict between Russia and Ukraine has had a significant impact on the Zero Friction Coatings Market. This market, which deals with the production and distribution of coatings that reduce friction between surfaces, has experienced various challenges and changes due to the war. The conflict has disrupted the supply chain of raw materials necessary for the production of zero-friction coatings. Both Russia and Ukraine are suppliers of these materials, and the war has led to disruptions in their extraction, processing, and transportation. As a result, the availability of raw materials has been severely affected, leading to increased costs and limited supply for manufacturers in the market. The economic downturn caused by the current conflict has led to reduced purchasing power and a decline in industrial activities in both Russia and Ukraine. As a result, the demand for products that utilize zero friction coatings, such as automotive components, industrial machinery, and aerospace equipment, has decreased significantly. This decline in demand has further affected the market's growth and profitability.
The economic downturn has resulted in a decline in consumer spending and a decrease in industrial production, leading to a decrease in demand for zero friction coatings. During a recession, individuals and businesses tend to cut back on non-essential expenses, and the purchase of zero friction coatings is often considered discretionary. Furthermore, the recession has also affected the manufacturing sector, which is a major consumer of zero friction coatings. With reduced industrial production and a slowdown in manufacturing activities, the demand for these coatings has decreased even further. The recession has also impacted the supply chain of zero friction coatings. Many manufacturers have faced financial difficulties, leading to a decrease in production capacity and a potential decline in product quality. This has further contributed to the overall decline in the market.
By Type
Polytetrafluoroethylene
Molybdenum Disulfide
Others
By Formulation
Water-based Coatings
Solvent-based Coatings
By End-use
Aerospace
Automobile & Transportation
General Engineering
Energy
Food & Healthcare
Others
Get Customized Report as Per Your Business Requirement - Request For Customized Report
Asia-Pacific holds the largest share of about 51% in the global Zero Friction Coatings Market and is projected to experience a significant growth rate during the forecast period. This growth is attributed to the presence of thriving automotive manufacturing industries in countries such as Japan, South Korea, and China. Notably, the Association of Southeast Asian Nations (ASEAN) stands as the seventh-largest automotive manufacturing hub worldwide, having produced approximately 3.6 million vehicles in 2021 alone. This region boasts the presence of renowned automotive manufacturers, including Honda, Ford, BMW, Toyota, and others. As the automobile industry in the Asia-Pacific region continues to flourish, the demand for zero-friction coatings is predicted to surge in the coming years. This trend is driven by the need to enhance the performance and efficiency of automotive components, ultimately benefiting both manufacturers and consumers alike.
Europe is projected to experience a CAGR of 5.9% throughout the forecast period. This growth can be primarily attributed to the increasing adoption of renewable energy sources, such as wind turbines and solar panels. In order to prevent energy losses, zero friction coatings play a crucial role in these systems, enhancing the overall efficiency of renewable energy systems. As of 2023, Europe had an impressive 255 GW of installed wind capacity. Furthermore, the presence of renowned automobile manufacturers in Europe is also expected to contribute to the growth of the market in the region.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The major key players are VITRACOAT, Bechem, DuPont, Endura Coatings, ASV Multichemie Private Limited, IKV Tribology Ltd., Poeton, GMM Coatings Private Limited, Whitmore Manufacturing, Dow Corning, and other key players are mentioned in the final report.
In June 2020, Poeton introduced a groundbreaking low-friction coating called Apticote 480A. This innovative coating boasts an exceptionally low coefficient of friction, surpassing their previous offerings with a remarkable 75% reduction.
Report Attributes | Details |
---|---|
Market Size in 2022 | US$ 880.4 Mn |
Market Size by 2030 | US$ 1351.14 Mn |
CAGR | CAGR of 5.5% From 2023 to 2030 |
Base Year | 2022 |
Forecast Period | 2023-2030 |
Historical Data | 2019-2021 |
Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
Key Segments | • By Type (Polytetrafluoroethylene, Molybdenum Disulfide, and Others) • By Formulation (Water-based Coatings, Solvent-based Coatings, and Powder Coatings) • By End-use (Aerospace, Automobile & Transportation, General Engineering, Energy, Food & Healthcare, and Others) |
Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Company Profiles | VITRACOAT, Bechem, DuPont, Endura Coatings, ASV Multichemie Private Limited, IKV Tribology Ltd., Poeton, GMM Coatings Private Limited, Whitmore Manufacturing, Dow Corning |
Key Drivers | • Increasing demand for low-friction coatings in various industries • Growing production of automobiles |
Market Restraints | • Fluctuating raw material prices • Under humidity, there is a high coefficient of friction and increased resistance at low loads |
Ans: The Zero Friction Coatings Market was valued at USD 880.4 million in 2022.
Ans: The expected CAGR of the global Zero Friction Coatings Market during the forecast period is 5.5%.
Ans: The Automobile and transportation segment dominated the Zero Friction Coatings Market with the highest revenue share of about 37% in 2022.
Ans: The rising awareness about the benefits of zero friction coatings, such as improved fuel efficiency, reduced maintenance costs, and enhanced performance, has further propelled the market growth. The automotive industry, in particular, has witnessed a significant surge in the adoption of these coatings due to their ability to minimize friction and increase fuel economy.
Ans: Yes, you can buy reports in bulk quantity as per your requirements. Check Here for more details.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Ukraine- Russia War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Zero Friction Coatings Market Segmentation, By Type
8.1 Polytetrafluoroethylene
8.2 Molybdenum Disulfide
8.3 Others
9. Zero Friction Coatings Market Segmentation, By Formulation
9.1 Water-based Coatings
9.2 Solvent-based Coatings
9.3 Powder Coatings
10. Zero Friction Coatings Market Segmentation, By End-use
10.1 Aerospace
10.2 Automobile & Transportation
10.3 General Engineering
10.4 Energy
10.5 Food & Healthcare
10.6 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Zero Friction Coatings Market by Country
11.2.2North America Zero Friction Coatings Market by Type
11.2.3 North America Zero Friction Coatings Market by Formulation
11.2.4 North America Zero Friction Coatings Market by End-use
11.2.5 USA
11.2.5.1 USA Zero Friction Coatings Market by Type
11.2.5.2 USA Zero Friction Coatings Market by Formulation
11.2.5.3 USA Zero Friction Coatings Market by End-use
11.2.6 Canada
11.2.6.1 Canada Zero Friction Coatings Market by Type
11.2.6.2 Canada Zero Friction Coatings Market by Formulation
11.2.6.3 Canada Zero Friction Coatings Market by End-use
11.2.7 Mexico
11.2.7.1 Mexico Zero Friction Coatings Market by Type
11.2.7.2 Mexico Zero Friction Coatings Market by Formulation
11.2.7.3 Mexico Zero Friction Coatings Market by End-use
11.3 Europe
11.3.1 Eastern Europe
11.3.1.1 Eastern Europe Zero Friction Coatings Market by country
11.3.1.2 Eastern Europe Zero Friction Coatings Market by Type
11.3.1.3 Eastern Europe Zero Friction Coatings Market by Formulation
11.3.1.4 Eastern Europe Zero Friction Coatings Market by End-use
11.3.1.5 Poland
11.3.1.5.1 Poland Zero Friction Coatings Market by Type
11.3.1.5.2 Poland Zero Friction Coatings Market by Formulation
11.3.1.5.3 Poland Zero Friction Coatings Market by End-use
11.3.1.6 Romania
11.3.1.6.1 Romania Zero Friction Coatings Market by Type
11.3.1.6.2 Romania Zero Friction Coatings Market by Formulation
11.3.1.6.4 Romania Zero Friction Coatings Market by End-use
11.3.1.7 Turkey
11.3.1.7.1 Turkey Zero Friction Coatings Market by Type
11.3.1.7.2 Turkey Zero Friction Coatings Market by Formulation
11.3.1.7.3 Turkey Zero Friction Coatings Market by End-use
11.3.1.8 Rest of Eastern Europe
11.3.1.8.1 Rest of Eastern Europe Zero Friction Coatings Market by Type
11.3.1.8.2 Rest of Eastern Europe Zero Friction Coatings Market by Formulation
11.3.1.8.3 Rest of Eastern Europe Zero Friction Coatings Market by End-use
11.3.2 Western Europe
11.3.2.1 Western Europe Zero Friction Coatings Market by Type
11.3.2.2 Western Europe Zero Friction Coatings Market by Formulation
11.3.2.3 Western Europe Zero Friction Coatings Market by End-use
11.3.2.4 Germany
11.3.2.4.1 Germany Zero Friction Coatings Market by Type
11.3.2.4.2 Germany Zero Friction Coatings Market by Formulation
11.3.2.4.3 Germany Zero Friction Coatings Market by End-use
11.3.2.5 France
11.3.2.5.1 France Zero Friction Coatings Market by Type
11.3.2.5.2 France Zero Friction Coatings Market by Formulation
11.3.2.5.3 France Zero Friction Coatings Market by End-use
11.3.2.6 UK
11.3.2.6.1 UK Zero Friction Coatings Market by Type
11.3.2.6.2 UK Zero Friction Coatings Market by Formulation
11.3.2.6.3 UK Zero Friction Coatings Market by End-use
11.3.2.7 Italy
11.3.2.7.1 Italy Zero Friction Coatings Market by Type
11.3.2.7.2 Italy Zero Friction Coatings Market by Formulation
11.3.2.7.3 Italy Zero Friction Coatings Market by End-use
11.3.2.8 Spain
11.3.2.8.1 Spain Zero Friction Coatings Market by Type
11.3.2.8.2 Spain Zero Friction Coatings Market by Formulation
11.3.2.8.3 Spain Zero Friction Coatings Market by End-use
11.3.2.9 Netherlands
11.3.2.9.1 Netherlands Zero Friction Coatings Market by Type
11.3.2.9.2 Netherlands Zero Friction Coatings Market by Formulation
11.3.2.9.3 Netherlands Zero Friction Coatings Market by End-use
11.3.2.10 Switzerland
11.3.2.10.1 Switzerland Zero Friction Coatings Market by Type
11.3.2.10.2 Switzerland Zero Friction Coatings Market by Formulation
11.3.2.10.3 Switzerland Zero Friction Coatings Market by End-use
11.3.2.11.1 Austria
11.3.2.11.2 Austria Zero Friction Coatings Market by Type
11.3.2.11.3 Austria Zero Friction Coatings Market by Formulation
11.3.2.11.4 Austria Zero Friction Coatings Market by End-use
11.3.2.12 Rest of Western Europe
11.3.2.12.1 Rest of Western Europe Zero Friction Coatings Market by Type
11.3.2.12.2 Rest of Western Europe Zero Friction Coatings Market by Formulation
11.3.2.12.3 Rest of Western Europe Zero Friction Coatings Market by End-use
11.4 Asia-Pacific
11.4.1 Asia-Pacific Zero Friction Coatings Market by country
11.4.2 Asia-Pacific Zero Friction Coatings Market by Type
11.4.3 Asia-Pacific Zero Friction Coatings Market by Formulation
11.4.4 Asia-Pacific Zero Friction Coatings Market by End-use
11.4.5 China
11.4.5.1 China Zero Friction Coatings Market by Type
11.4.5.2 China Zero Friction Coatings Market by End-use
11.4.5.3 China Zero Friction Coatings Market by Formulation
11.4.6 India
11.4.6.1 India Zero Friction Coatings Market by Type
11.4.6.2 India Zero Friction Coatings Market by Formulation
11.4.6.3 India Zero Friction Coatings Market by End-use
11.4.7 Japan
11.4.7.1 Japan Zero Friction Coatings Market by Type
11.4.7.2 Japan Zero Friction Coatings Market by Formulation
11.4.7.3 Japan Zero Friction Coatings Market by End-use
11.4.8 South Korea
11.4.8.1 South Korea Zero Friction Coatings Market by Type
11.4.8.2 South Korea Zero Friction Coatings Market by Formulation
11.4.8.3 South Korea Zero Friction Coatings Market by End-use
11.4.9 Vietnam
11.4.9.1 Vietnam Zero Friction Coatings Market by Type
11.4.9.2 Vietnam Zero Friction Coatings Market by Formulation
11.4.9.3 Vietnam Zero Friction Coatings Market by End-use
11.4.10 Singapore
11.4.10.1 Singapore Zero Friction Coatings Market by Type
11.4.10.2 Singapore Zero Friction Coatings Market by Formulation
11.4.10.3 Singapore Zero Friction Coatings Market by End-use
11.4.11 Australia
11.4.11.1 Australia Zero Friction Coatings Market by Type
11.4.11.2 Australia Zero Friction Coatings Market by Formulation
11.4.11.3 Australia Zero Friction Coatings Market by End-use
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific Zero Friction Coatings Market by Type
11.4.12.2 Rest of Asia-Pacific Zero Friction Coatings Market by Formulation
11.4.12.3 Rest of Asia-Pacific Zero Friction Coatings Market by End-use
11.5 Middle East & Africa
11.5.1 Middle East
11.5.1.1 Middle East Zero Friction Coatings Market by Country
11.5.1.2 Middle East Zero Friction Coatings Market by Type
11.5.1.3 Middle East Zero Friction Coatings Market by Formulation
11.5.1.4 Middle East Zero Friction Coatings Market by End-use
11.5.1.5 UAE
11.5.1.5.1 UAE Zero Friction Coatings Market by Type
11.5.1.5.2 UAE Zero Friction Coatings Market by Formulation
11.5.1.5.3 UAE Zero Friction Coatings Market by End-use
11.5.1.6 Egypt
11.5.1.6.1 Egypt Zero Friction Coatings Market by Type
11.5.1.6.2 Egypt Zero Friction Coatings Market by Formulation
11.5.1.6.3 Egypt Zero Friction Coatings Market by End-use
11.5.1.7 Saudi Arabia
11.5.1.7.1 Saudi Arabia Zero Friction Coatings Market by Type
11.5.1.7.2 Saudi Arabia Zero Friction Coatings Market by Formulation
11.5.1.7.3 Saudi Arabia Zero Friction Coatings Market by End-use
11.5.1.8 Qatar
11.5.1.8.1 Qatar Zero Friction Coatings Market by Type
11.5.1.8.2 Qatar Zero Friction Coatings Market by Formulation
11.5.1.8.3 Qatar Zero Friction Coatings Market by End-use
11.5.1.9 Rest of Middle East
11.5.1.9.1 Rest of Middle East Zero Friction Coatings Market by Type
11.5.1.9.2 Rest of Middle East Zero Friction Coatings Market by Formulation
11.5.1.9.3 Rest of Middle East Zero Friction Coatings Market by End-use
11.5.2 Africa
11.5.2.1 Africa Zero Friction Coatings Market by Country
11.5.2.2 Africa Zero Friction Coatings Market by Type
11.5.2.3 Africa Zero Friction Coatings Market by Formulation
11.5.2.4 Africa Zero Friction Coatings Market by End-use
11.5.2.5 Nigeria
11.5.2.5.1 Nigeria Zero Friction Coatings Market by Type
11.5.2.5.2 Nigeria Zero Friction Coatings Market by Formulation
11.5.2.5.3 Nigeria Zero Friction Coatings Market by End-use
11.5.2.6 South Africa
11.5.2.6.1 South Africa Zero Friction Coatings Market by Type
11.5.2.6.2 South Africa Zero Friction Coatings Market by Formulation
11.5.2.6.3 South Africa Zero Friction Coatings Market by End-use
11.5.2.7 Rest of Africa
11.5.2.7.1 Rest of Africa Zero Friction Coatings Market by Type
11.5.2.7.2 Rest of Africa Zero Friction Coatings Market by Formulation
11.5.2.7.3 Rest of Africa Zero Friction Coatings Market by End-use
11.6 Latin America
11.6.1 Latin America Zero Friction Coatings Market by country
11.6.2 Latin America Zero Friction Coatings Market by Type
11.6.3 Latin America Zero Friction Coatings Market by Formulation
11.6.4 Latin America Zero Friction Coatings Market by End-use
11.6.5 Brazil
11.6.5.1 Brazil Zero Friction Coatings Market by Type
11.6.5.2 Brazil Zero Friction Coatings Market by Formulation
11.6.5.3 Brazil Zero Friction Coatings Market by End-use
11.6.6 Argentina
11.6.6.1 Argentina Zero Friction Coatings Market by Type
11.6.6.2 Argentina Zero Friction Coatings Market by Formulation
11.6.6.3 Argentina Zero Friction Coatings Market by End-use
11.6.7 Colombia
11.6.7.1 Colombia Zero Friction Coatings Market by Type
11.6.7.2 Colombia Zero Friction Coatings Market by Formulation
11.6.7.3 Colombia Zero Friction Coatings Market by End-use
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Zero Friction Coatings Market by Type
11.6.8.2 Rest of Latin America Zero Friction Coatings Market by Formulation
11.6.8.3 Rest of Latin America Zero Friction Coatings Market by End-use
12. Company profile
12.1 VITRACOAT
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Products/ Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Bechem
12.2.1 Company Overview
12.2.2 Financials
12.2.3 Products/ Services Offered
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 DuPont
12.3.1 Company Overview
12.3.2 Financials
12.3.3 Products/ Services Offered
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 Endura Coatings
12.4.1 Company Overview
12.4.2 Financials
12.4.3 Products/ Services Offered
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 ASV Multichemie Private Limited
12.5.1 Company Overview
12.5.2 Financials
12.5.3 Products/ Services Offered
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 IKV Tribology Ltd
12.6.1 Company Overview
12.6.2 Financials
12.6.3 Products/ Services Offered
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Poeton
12.7.1 Company Overview
12.7.2 Financials
12.7.3 Products/ Services Offered
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 GMM Coatings Private Limited
12.8.1 Company Overview
12.8.2 Financials
12.8.3 Products/ Services Offered
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Whitmore Manufacturing
12.9.1 Company Overview
12.9.2 Financials
12.9.3 Products/ Services Offered
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Dow Corning
12.10.1 Company Overview
12.10.2 Financials
12.10.3 Products/ Services Offered
12.10.4 SWOT Analysis
12.10.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Filled Fluoropolymer Market Size was valued at USD 3.59 billion in 2022, and is expected to reach USD 5.64 billion by 2030, and grow at a CAGR of 5.8% over the forecast period 2023-2030.
The Cold Chain Packaging Market size was valued at USD 27.19 billion in 2023 and is expected to grow to USD 111.42 billion by 2031 and grow at a CAGR of 19.3% over the forecast period of 2024-2031.
Aerospace Materials Market Size was valued at USD 45.74 billion in 2023 and is expected to reach USD 89.15 billion by 2031 and grow at a CAGR of 8.7% over the forecast period 2024-2031.
The Thermoplastic Polyolefin (TPO) Market Size was valued at USD 5.11 billion in 2022, and expected to reach USD 8.46 billion by 2030, and grow at a CAGR of 6.5% over the forecast period 2023-2030.
PMMA Microspheres Market Size was valued at USD 303.34 million in 2022, and expected to reach USD 547 million by 2030, and grow at a CAGR of 6.6% over the forecast period 2023-2030.
The Electronic Materials and Chemicals Market size was valued at USD 64.2 billion in 2022. It is estimated to hit USD 105.46 billion by 2030 and grow at a CAGR of 6.4% over the forecast period of 2023-2030.
Hi! Click one of our member below to chat on Phone