Market Overview
| Study Period | 2017 - 2028 |
|---|---|
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2028 |
| Market Size (2024) | USD 6.18 Billion |
| Market Size (2028) | USD 7.82 Billion |
| Growth Rate (2024 - 2028) | 6.07% CAGR |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0. |
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Asia-Pacific Polyurethane Adhesives Market Analysis by Mordor Intelligence
The Asia-Pacific Polyurethane Adhesives Market size is estimated at 6.18 billion USD in 2024, and is expected to reach 7.82 billion USD by 2028, growing at a CAGR of 6.07% during the forecast period (2024-2028).
The Asia-Pacific polyurethane adhesives industry is experiencing significant transformation driven by rapid industrialization and technological advancements across major economies. The region's construction sector continues to demonstrate robust growth, with China leading the momentum through massive infrastructure development initiatives. The construction market is projected to register a CAGR of 4.48% through 2028, supported by urbanization trends and government infrastructure spending. This growth is complemented by the region's expanding electronic manufacturing capabilities, with the Asia-Pacific electronic industry expected to reach USD 655 billion by 2025, creating substantial opportunities for polyurethane adhesives applications in electronic component assembly and protection.
The industry is witnessing a notable shift toward sustainable and environmentally conscious manufacturing practices, with manufacturers increasingly focusing on developing bio-based polyurethane adhesives with zero VOC emissions. This transition is particularly evident in the automotive sector, where the evolution toward electric vehicles is reshaping adhesive requirements. China's electric vehicle market is projected to achieve an adoption rate of approximately 60% by 2030, accounting for more than 40% of global new EV sales, driving the demand for specialized adhesive solutions for battery assembly and lightweight material bonding applications.
The marine and industrial sectors are emerging as significant growth drivers for industrial adhesives, particularly in shipbuilding and maintenance applications. The region's dominance in global shipbuilding activities continues to create substantial demand for high-performance adhesives capable of withstanding extreme marine conditions. The packaging industry is undergoing rapid transformation with the rise of e-commerce and changing consumer preferences, necessitating innovative adhesive solutions for flexible packaging and sustainable materials.
Manufacturing capabilities in the region are evolving with an increased focus on automation and precision application technologies. Manufacturers are investing in advanced production facilities and research centers to develop customized solutions for specific industry applications. The industry is witnessing increased collaboration between adhesive manufacturers and end-users to develop application-specific solutions, particularly in high-growth sectors such as electronics and automotive. This trend is supported by the establishment of new technology centers and manufacturing facilities across key markets, enabling faster response to local market demands and enhanced technical support capabilities.
Asia-Pacific Polyurethane Adhesives Market Trends and Insights
Fast paced growth of e-commerce industry in developing nations to augment the industry
- Packaging is mainly used for protection, containment, information, utility, and promotion. This makes packaging an integral part of most industries. In 2017, packaging usage accounted for 2.5 billion ton of packaging, including paper and paperboard and plastic packaging. In 2020, due to the COVID-19 pandemic, the market registered a negative growth rate of 7.4% due to disruptions in the supply chain, shortage of packaging material, restrictions on the import and export of goods, and factories operating at low capacity.
- Governments of different Asian countries have taken steps to reduce the use of plastic, as China and Indonesia are the first and second-largest contributors to plastic waste in the ocean. China has announced new restrictions on excessive packaging, requiring all food and cosmetics producers to adhere to specific guidelines determining the volume of packaging allowed in proportion to a product. The extended producer responsibility (EPR) regulation imposed by the Indonesian government will oblige producers and retailers to redesign their product packaging to include a higher proportion of recyclable material.
- In 2021, the market registered a positive growth of 8%, with 2.7 billion ton of packaging material used for various purposes. The packaging industry is expected to keep growing due to the rising middle-income population, improvement of supply chains, and rising e-commerce activities, which have significantly boosted the packaging industry in the past few years as special packaging is required for shipping goods. The growing Asian market is expected to boost packaging usage, enabling it to register a CAGR of 5.7% during the forecast period (2022-2028).
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Raising investment to expand infrastructural activities will augment the industry size
- Asia-Pacific is driven by the world's major economies, such as China, Japan, and India. China is promoting and undergoing a process of continuous urbanization, with a target rate of 70% for 2030. The increased living spaces required in the urban areas resulting from increasing urbanization and the desire of middle-income urban residents to improve their living conditions may impact the housing market and, thereby, increase the residential constructions in the country.
- Non-residential infrastructure is likely to expand significantly. The Chinese government approved 26 infrastructure projects worth approximately USD 142 billion in 2019, with completion due in 2023. The country has the largest construction market globally, accounting for 20% of all worldwide construction investments. By 2030, the government plans to spend over USD 13 trillion on construction. Thus, the construction market is expected to register a 4.48% CAGR during the forecast period (2022-2028).
- The construction industry is one of the largest industries in Asia-Pacific and recorded promising growth in 2019. The industry continues to grow as the region constitutes many developing countries such as Vietnam, Malaysia, Indonesia, Thailand, and other South Asian countries. However, due to the COVID-19 pandemic, the construction sector witnessed a significant decline owing to lockdowns by governments across the region, which severely affected developing countries, including India, China, Japan, and ASEAN countries.
- The Asia-Pacific region is also witnessing significant interest from international investors in the construction space. Foreign Direct Investment (FDI) in the construction development sector is increasing as developing countries provide better returns and opportunities for investors.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Rapid growth of civil aviation will propel the aerospace industry
- Large concentration of footwear exporters in the Asia-Pacific region will facilitate the industry growth
- Increasing adoption of electric vehicles to drive the industry
- High presence of furniture manufacturers in the Asia-Pacific region will propel the industry
Segment Analysis: End User Industry
Packaging Segment in Asia-Pacific Polyurethane Adhesives Market
The packaging industry represents the largest end-user segment in the Asia-Pacific polyurethane adhesives market, accounting for approximately 20% of the total market value in 2024. Water-based polyurethane adhesives are predominantly preferred in this segment, particularly for food packaging applications, due to their environmentally friendly nature and low VOC emissions. The segment's dominance is driven by the increasing demand for flexible packaging solutions across the region, especially in countries like China and India, where the flexible packaging market is experiencing rapid growth. The rising adoption of sustainable packaging solutions and the growth of e-commerce activities have further strengthened the demand for polyurethane adhesives in packaging applications. Additionally, manufacturers are focusing on developing innovative adhesive solutions that comply with strict food safety regulations while maintaining high performance standards in terms of bonding strength and durability.
Healthcare Segment in Asia-Pacific Polyurethane Adhesives Market
The healthcare segment is emerging as the fastest-growing application area in the Asia-Pacific polyurethane adhesives market. The segment's growth is primarily driven by the increasing adoption of polyurethane adhesives in medical device manufacturing and assembly applications. These adhesives are particularly valued in the healthcare sector for their non-toxic properties and superior bonding capabilities, making them ideal for various medical applications. The segment's expansion is further supported by the growing medical device manufacturing industry in countries like China, which is implementing national healthcare strategies such as Healthy China 2030. Manufacturers are increasingly focusing on developing specialized medical-grade polyurethane adhesives that meet stringent healthcare industry requirements, including biocompatibility and sterilization resistance. The trend toward minimally invasive medical devices and the growing demand for disposable medical products are also contributing to the segment's rapid growth.
Remaining Segments in End-User Industry
The other significant segments in the Asia-Pacific polyurethane adhesives market include automotive adhesives, building and construction, footwear and leather, woodworking and joinery, and aerospace industries. The automotive sector represents a substantial market share, driven by the increasing adoption of lightweight materials and electric vehicle production. The building and construction segment maintains steady growth due to ongoing infrastructure development and urbanization across the region. The footwear and leather industry continues to be a traditional stronghold for polyurethane adhesives, particularly in major manufacturing hubs. The woodworking and joinery segment serves specialized applications in furniture manufacturing and construction, while the aerospace industry, though smaller in volume, represents a high-value application area requiring high-performance adhesive solutions. Each of these segments contributes uniquely to the market's diversity and overall growth, with specific requirements driving innovation in adhesive formulations and applications.
Segment Analysis: Technology
Hot Melt Segment in Asia-Pacific Polyurethane Adhesives Market
Hot melt technology dominates the Asia-Pacific polyurethane adhesives market, commanding approximately 36% market share in 2024. This segment's prominence is attributed to its versatility across major end-user industries, including packaging, healthcare, automotive, and building and construction. Hot melt polyurethane adhesives are particularly favored for their rapid curing properties, with most formulations fully curing within 24-48 hours. These adhesives are designed for structural applications and can withstand a broad range of operating temperatures, making them ideal for product assemblies requiring thermal stability. The segment's growth is further supported by increasing demand from the electronics industry, particularly in countries like China, Japan, and South Korea, where consumer electronics manufacturing continues to expand.
UV Cured Segment in Asia-Pacific Polyurethane Adhesives Market
The UV cured technology segment is emerging as the fastest-growing segment in the Asia-Pacific polyurethane adhesives market, with an expected growth rate of approximately 8% during 2024-2029. This growth is primarily driven by increasing adoption in the healthcare and automotive industries, where precision bonding and rapid curing requirements are critical. UV-cured polyurethane adhesives offer superior tensile strength properties, ranging from 20 N/mm2 to 25 N/mm2, making them particularly suitable for high-performance applications. The segment is witnessing increased adoption in aircraft interiors, including deck pads, passenger cabin walls, aircraft ceilings, and seating applications. The rising demand for electric vehicles in the region, particularly in China and Japan, is further accelerating the adoption of UV-cured adhesives for electronic component assembly.
Remaining Segments in Technology Segmentation
The water-borne, solvent-borne, and reactive adhesives segments complete the technology landscape of the Asia-Pacific polyurethane adhesives market. Water-borne technology is gaining prominence due to its eco-friendly nature and low VOC emissions, making it particularly attractive for sustainable manufacturing practices. Solvent-borne technology continues to maintain its position in specific applications where low viscosity and strong bonding properties are crucial, despite facing regulatory challenges due to VOC emissions. The reactive adhesives segment serves specialized applications requiring high-performance bonding solutions, particularly in automotive and construction industries. These segments are evolving in response to increasing environmental regulations and changing customer preferences for more sustainable adhesive solutions.
Asia-Pacific Polyurethane Adhesives Market Geography Segment Analysis
Asia-Pacific Polyurethane Adhesives Market in China
China dominates the Asia-Pacific polyurethane adhesives market, commanding approximately 40% of the total market value in 2024. The country's market leadership is primarily driven by its robust manufacturing sector, particularly in automotive adhesives, electronics, and construction industries. The presence of major manufacturing facilities and continuous technological advancements in adhesive applications has strengthened China's position in the market. The country's focus on sustainable development and environmental regulations has led to increased adoption of eco-friendly urethane adhesives formulations. The growing electric vehicle sector in China has created new opportunities for polyurethane adhesive manufacturers, particularly in battery assembly and structural bonding applications. The construction industry's steady growth, coupled with increasing urbanization, has further boosted the demand for PU adhesives in building applications. Additionally, China's strong foothold in the global footwear manufacturing sector continues to drive significant consumption of polyurethane adhesives in shoe assembly and sole bonding applications.
Asia-Pacific Polyurethane Adhesives Market in India
India's polyurethane adhesives market is projected to grow at approximately 7% CAGR from 2024 to 2029, positioning it as the fastest-growing market in the region. The country's rapid industrialization and expanding manufacturing sector have created a strong foundation for market growth. India's automotive sector transformation, particularly the push towards electric vehicle production, has generated increased demand for specialized polyurethane adhesive solutions. The government's emphasis on infrastructure development and smart city initiatives has stimulated growth in the construction adhesives segment. The country's emerging electronics manufacturing ecosystem has also contributed to increased consumption of polyurethane adhesives in device assembly applications. The footwear industry's modernization and adoption of advanced manufacturing techniques have further accelerated market growth. Additionally, India's packaging industry evolution, driven by e-commerce growth and changing consumer preferences, has created new opportunities for flexible adhesives applications.
Asia-Pacific Polyurethane Adhesives Market in Japan
Japan's polyurethane adhesives market is characterized by its high-tech applications and focus on quality and innovation. The country's automotive sector, particularly its advanced electric vehicle manufacturing capabilities, drives significant demand for specialized adhesive solutions. Japan's emphasis on precision engineering and quality control has led to the development of high-performance polyurethane adhesives for electronics and semiconductor applications. The country's aging infrastructure rehabilitation projects have created steady demand in the construction sector. Japanese manufacturers are increasingly focusing on developing bio-based and environmentally sustainable adhesive solutions, aligning with the country's strict environmental regulations. The healthcare sector's growth and medical device manufacturing have opened new avenues for specialized polyurethane adhesive applications. The woodworking and furniture industry's preference for high-quality bonding solutions has maintained steady demand in these segments.
Asia-Pacific Polyurethane Adhesives Market in South Korea
South Korea's polyurethane adhesives market is driven by its strong electronics and automotive manufacturing sectors. The country's position as a global leader in electronics production has created substantial demand for specialized adhesive solutions in device assembly and component bonding. South Korea's automotive industry's transition towards electric vehicles has spurred innovation in adhesive technologies for lightweight materials and battery assembly. The country's construction sector, particularly in high-rise buildings and infrastructure projects, maintains consistent demand for structural adhesives. South Korean manufacturers are investing in research and development to create advanced adhesive formulations for emerging applications. The packaging industry's evolution, driven by changing consumer preferences and e-commerce growth, has created new opportunities for PU adhesives applications. The country's focus on technological advancement and automation in manufacturing processes has led to increased adoption of high-performance adhesive solutions.
Asia-Pacific Polyurethane Adhesives Market in Other Countries
The polyurethane adhesives market in other Asia-Pacific countries, including Indonesia, Malaysia, Singapore, Thailand, and other emerging economies, shows diverse growth patterns influenced by their respective industrial development stages. These markets are characterized by growing manufacturing sectors, increasing foreign investments, and expanding construction activities. Countries like Indonesia and Malaysia are seeing increased demand driven by their growing automotive and electronics manufacturing sectors. Singapore's market is primarily driven by its high-tech manufacturing and construction sectors, while Thailand's automotive and packaging industries contribute significantly to market growth. These countries are witnessing a gradual shift towards more sophisticated adhesive applications as their manufacturing capabilities advance. The growing focus on sustainable development and environmental regulations across these nations is influencing product development and market strategies. Additionally, the expansion of e-commerce and modern retail in these countries is creating new opportunities in the packaging segment.
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Competitive Landscape
Top Companies in Asia-Pacific Polyurethane Adhesives Market
The leading companies in the market are focusing on multiple strategic initiatives to maintain their competitive edge. Product innovation remains a key focus area, with companies investing in developing sustainable and high-performance adhesives solutions, particularly for emerging applications in electric vehicles and eco-friendly packaging. Operational agility is demonstrated through the continuous expansion of manufacturing facilities and R&D centers across the region, with significant investments in countries like China, India, and Southeast Asian nations. Companies are actively pursuing strategic partnerships and distribution agreements to strengthen their market presence and penetrate new geographical areas. The emphasis on technological advancement is evident through the development of specialized adhesive solutions for specific industries, while sustainability initiatives and compliance with environmental regulations are becoming increasingly important aspects of product development strategies.
Market Structure Shows Mixed Global-Local Dynamics
The Asia-Pacific polyurethane adhesives market exhibits a fragmented structure with a mix of global chemical conglomerates and regional specialists. Global players like Sika AG, Henkel, and H.B. Fuller leverage their extensive R&D capabilities and broad product portfolios to serve multiple end-user industries, while regional players such as Pidilite Industries and Beijing Comens New Materials focus on specific market segments with localized solutions. The market demonstrates a balanced competition between multinational corporations and local manufacturers, with domestic players having strong distribution networks and an understanding of local market dynamics.
The industry is characterized by ongoing consolidation through strategic acquisitions and partnerships, particularly in high-growth markets like China and India. Companies are increasingly focusing on vertical integration to secure raw material supply and enhance operational efficiency. Local manufacturers are strengthening their position through technological collaborations with global players, while multinational companies are establishing joint ventures with regional players to expand their market reach and manufacturing capabilities in key Asian markets.
Innovation and Sustainability Drive Future Success
For established players to maintain and increase their market share, developing innovative solutions aligned with emerging industry trends is crucial. Companies need to focus on expanding their sustainable product portfolio, particularly in response to stringent environmental regulations and growing demand for eco-friendly adhesives. Investment in research and development facilities, strengthening distribution networks, and establishing strategic partnerships with end-users in key industries like automotive, construction, and packaging will be essential. Additionally, digital transformation initiatives and customized solution offerings will help companies differentiate themselves in an increasingly competitive market.
New entrants and challenger companies can gain ground by focusing on niche market segments and developing specialized solutions for specific applications. Success factors include building strong relationships with local distributors, offering competitive pricing strategies, and ensuring reliable technical support services. Companies must also consider potential regulatory changes regarding VOC emissions and environmental standards, which could impact product development and manufacturing processes. The ability to adapt to changing end-user requirements, particularly in high-growth sectors like electric vehicles and sustainable packaging, while maintaining cost competitiveness will be crucial for long-term success in the market. The demand for industrial adhesives and elastic adhesives is expected to rise, driven by advancements in these sectors.
Asia-Pacific Polyurethane Adhesives Industry Leaders
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3M
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Beijing Comens New Materials Co., Ltd.
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NANPAO RESINS CHEMICAL GROUP
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Pidilite Industries Ltd.
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Sika AG
- *Disclaimer: Major Players sorted in no particular order
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Recent Industry Developments
- December 2021: Sika planned to establish a new technology center and manufacturing factory for high-quality adhesives and sealants in Pune, India. The company primarily manufactures products for the transportation and construction industries through its three new production lines.
- September 2021: H.B. Fuller India launched a new food-based adhesive (Swift tak PS5600-I) to meet the rising demand for paper straws.
- July 2021: H.B. Fuller announced a strategic agreement with Covestro to offer sustainable adhesives in the market.
Asia-Pacific Polyurethane Adhesives Market Report Scope
Aerospace, Automotive, Building and Construction, Footwear and Leather, Healthcare, Packaging, Woodworking and Joinery are covered as segments by End User Industry. Hot Melt, Reactive, Solvent-borne, UV Cured Adhesives, Water-borne are covered as segments by Technology. Australia, China, India, Indonesia, Japan, Malaysia, Singapore, South Korea, Thailand are covered as segments by Country.
End User Industry
| Aerospace |
| Automotive |
| Building and Construction |
| Footwear and Leather |
| Healthcare |
| Packaging |
| Woodworking and Joinery |
| Other End-user Industries |
Technology
| Hot Melt |
| Reactive |
| Solvent-borne |
| UV Cured Adhesives |
| Water-borne |
Country
| Australia |
| China |
| India |
| Indonesia |
| Japan |
| Malaysia |
| Singapore |
| South Korea |
| Thailand |
| Rest of Asia-Pacific |
| End User Industry | Aerospace |
| Automotive | |
| Building and Construction | |
| Footwear and Leather | |
| Healthcare | |
| Packaging | |
| Woodworking and Joinery | |
| Other End-user Industries | |
| Technology | Hot Melt |
| Reactive | |
| Solvent-borne | |
| UV Cured Adhesives | |
| Water-borne | |
| Country | Australia |
| China | |
| India | |
| Indonesia | |
| Japan | |
| Malaysia | |
| Singapore | |
| South Korea | |
| Thailand | |
| Rest of Asia-Pacific |
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Market Definition
- End-user Industry - Building & Construction, Packaging, Automotive, Aerospace, Woodworking & Joinery, Footwear & Leather, Healthcare, and Others are the end-user industries considered under the polyurethane adhesives market.
- Product - All polyurethane adhesive products are considered in the market studied
- Resin - Under the scope of the study, thermoset and thermoplastic based polyurethanes are considered
- Technology - For the purpose of this study, Water-borne, Solvent-borne, Reactive, Hot Melt, and UV Cured adhesive technologies are taken into consideration.
| Keyword | Definition |
|---|---|
| Hot-melt Adhesive | Hot melt adhesives are generally 100% solid formulations, based on thermoplastic polymers. They are solid at room temperature and are activated upon heating above their softening point, at which stage they are liquid, and hence, can be processed. |
| Reactive Adhesive | A reactive adhesive is made up of monomers that react in the adhesive curing process and do not evaporate from the film during use. Instead, these volatile components become chemically incorporated into the adhesive. |
| Solvent-borne Adhesive | Solvent-borne adhesives are mixtures of solvents and thermoplastic, or slightly cross-linked polymers, such as polychloroprene, polyurethane, acrylic, silicone, and natural and synthetic rubbers (elastomers). |
| Water-borne Adhesive | Water-borne adhesives use water as a carrier or diluting medium to disperse a resin. They are set by allowing the water to evaporate or be absorbed by the substrate. These adhesives are compounded with water as a diluent, rather than a volatile organic solvent. |
| UV Cured Adhesive | UV curing adhesives induce curing and create a permanent bond without heating by using ultraviolet (UV) light or other radiation sources. An aggregation of monomers and oligomers is cured or polymerized by ultraviolet (UV) or visible light in a UV adhesive. Because UV is a radiating energy source, UV adhesives are often referred to as radiation curing or rad-cure adhesives. |
| Heat-resistant Adhesive | Heat-resistant Adhesives refer to those that do not break down under high temperatures. One aspect of a complicated system of circumstances is the adhesive's capacity to withstand disintegration brought on by high temperatures. As the temperature rises, adhesives may liquefy. They can withstand stresses resulting from differing coefficients of expansion and contraction, which might be an additional advantage. |
| Reshoring | Reshoring is the practice of moving commodity production and manufacturing back to the nation where the business was founded. Onshoring, inshoring, and back shoring are further terms used. Offshoring, the practice of producing items abroad to lower labor and manufacturing costs, is the opposite of this. |
| Oleochemicals | Oleochemicals are compounds produced from biological oils or fats. They resemble petrochemicals, which are substances made from petroleum. The oleochemical business is built on the hydrolysis of oils or fats. |
| Nonporous Materials | Nonporous materials are substances that do not permit the passage of liquid or air. Nonporous materials are those that are not porous, such as glass, plastic, metal, and varnished wood. Since no air can get through, less airflow is required to raise these materials, negating the requirement for high airflow. |
| EU-Vietnam Free Trade Agreement | A trade agreement and an investment protection agreement were concluded between the European Union and Vietnam on June 30, 2019. |
| VOC content | Compounds with limited solubility in water and high vapor pressure are known as Volatile Organic Compounds (VOCs). Many VOCs are human-made chemicals that are used and produced in the manufacture of paints, pharmaceuticals, and refrigerants. |
| Emulsion Polymerization | Emulsion polymerization is a method of producing polymers or connected groups of smaller chemical chains known as monomers, in a water solution. The method is often used to make water-based paints, adhesives, and varnishes, in which the water stays with the polymer and is marketed as a liquid product. |
| 2025 National Packaging Targets | In 2018, the Australian Environment Ministry set the following 2025 National Packaging Targets: 100% of the packaging must be reusable, recyclable, or compostable by 2025, 70% of plastic packaging must be recycled or composted by 2025, 50% of average recycled content must be included in packaging by 2025, and problematic and unnecessary single-use plastic packaging must be phased out by 2025. |
| Russian Government’s Import Substitution Policy | The Western sanctions suspended the distribution of several high-tech items to Russia, including those required by the raw material export sectors and the military-industrial complex. In response, the government launched an "import substitution" scheme, appointing a special commission to oversee its implementation in early 2015. |
| Paper Substrate | Paper substrates are paper sheets, reels, or boards with a base weight of up to 400 g/m2 that has not been converted, printed or otherwise altered. |
| Insulation Material | A material that inhibits or blocks heat, sound, or electrical transmission is known as Insulation Material. The variety of insulation materials includes thick fibers like fiberglass, rock and slag wool, cellulose, and natural fibers as well as stiff foam boards and sleek foils. |
| Thermal Shock | A temperature change known as thermal shock generates stress in a material. It commonly results in material breakdown and is especially prevalent in brittle materials like ceramics. When there is a quick temperature change, either from hot to cold or vice versa, this process occurs abruptly. It occurs more frequently in materials with poor heat conductivity and insufficient structural integrity. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific product segment and country are selected from a group of relevant variables & factors based on desk research & literature review; along with primary expert inputs. These variables are further confirmed through regression modeling (wherever required).
- Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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