The potassium nitrate market attained $1.7 billion in 2021 and is projected to reach $2.4 billion by 2031, growing at a CAGR of 4.0 % from 2022 to 2031.
The ionic salt potassium nitrate (KNO3) is grey to white in color. It is produced commercially by the reaction of sodium nitrate with potassium chloride. It is highly soluble in hot water but only moderately soluble in cold water. In addition, potassium nitrate provides a source of nitrogen and potassium, two vital elements for plant growth and nourishment. In addition, potassium nitrate features precise breakdown, exceptional mechanical resistance, a long shelf life, great chemical purity, and potency. These features increase its demand in numerous industries, including metal treatment, agriculture, healthcare, fireworks, and glass production. Potassium nitrate is an ingredient in rocket propellants, gunpowder, medications, fertilizers, and fireworks. In addition, it is utilized in toothpaste since it protects against tooth sensitivity. In addition, potassium nitrate is used to produce fertilizers.
The governments of developing nations provide subsidies for selling fertilizers. This is the primary driver of potassium nitrate intake. In addition, potassium nitrate is resistant to fungal infections, enhances drought tolerance, maintains a balance between proteins and carbs, and promotes food synthesis and root growth in plants. Agriculture has been experiencing a rise in demand for specialized fertilizers. In turn, this is increasing market activity. Increased concerns about the depletion of nonrenewable resources have prompted many organizations to turn to CSPs and other renewable sources. In addition, this drives the demand for potassium nitrate.
The rise in fungicide use in the agricultural sector is anticipated to be a major driver driving the growth of the potassium nitrate market during the forecast period. In addition, the increasing use of potassium nitrate as a fungicide in horticulture applications is predicted to fuel the potassium nitrate market expansion. Appropriate quantities of potassium nitrate can be used to effectively prevent prevalent illnesses in mass-produced fruits and vegetables. This can help reduce waste and increase farm output overall. Consequently, an increase in the use of potassium nitrate as a fungicide in horticulture applications is anticipated to drive market growth during the forecast period. In addition, the increase in mining applications for blasting and drilling is anticipated to mitigate the expansion of the potassium nitrate market. However, inhaling potassium nitrate might result in several health issues, which is expected to hinder the market growth of potassium nitrate during the forecast period. In addition, the rising demand for energy is expected to increase the demand for coal and other minerals, which will create further growth prospects for the potassium nitrate market over the next several years. However, the COVID-19 pandemic, which has badly impacted the global economy, may soon impede the growth of the potassium nitrate market.
The global potassium nitrate market is segmented into raw materials, end-use industry, and region. Depending on raw materials, the market is bifurcated into potassium chloride, ammonium nitrate, and sodium nitrate. On the basis of end-use industry, it is categorized into agriculture, pharmaceutical, glass manufacturing, food & beverage, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global potassium nitrate market include AG Chemi Group s. r. o., Arihant Chemicals, BGP Group of companies, Haifa Negev technologies Ltd, Jagannath Chemicals, Kemapco Arab Fertilizers & Chemicals Industries LTD, Migao Corporation, okchem. com, Positive Chemicals Private Limited, Ravi Chem Industries, Sam Industries Limited, SNDB, SQM S. A, URALCHEM JSC, and Yogi Chemical Industries.
Other players operating in the market are Yara, ANISH CHEMICALS, SNDB, RAM SHREE CHEMICALS, and A. G. I. Industries.
The global economy has been negatively affected by the COVID-19 pandemic. It has negatively impacted a number of industrial sectors by disrupting the supply chain.
As a result of months of consumer lockdown and the shutdown of foreign supply networks and retail firms, purchase and consumption patterns have shifted considerably across several sectors. This has negatively damaged the global market for potassium nitrate.
Extended lockdowns in developed market economies and domestic societal estrangement have intensified the negative effect on emerging market economies.
The prolonged shutdown also harmed the agricultural sector. Import/export of key fertilizers has had an impact on the agriculture business, and the negative effect on agricultural business will lower the use of potassium as a fertilizer, thereby influencing the global potassium nitrate market.
However, after the pandemic, as the demand will return to normal after the restrictions were lifted, market participants in this market have explored for measures to minimize the pandemic's impact on their business.
The ionic salt potassium nitrate (KNO3) is grey to white in color. It is produced commercially by the reaction of sodium nitrate with potassium chloride. It is highly soluble in hot water but only moderately soluble in cold water. In addition, potassium nitrate provides a source of nitrogen and potassium, two vital elements for plant growth and nourishment. In addition, potassium nitrate features precise breakdown, exceptional mechanical resistance, a long shelf life, great chemical purity, and potency. These features increase its demand in numerous industries, including metal treatment, agriculture, healthcare, fireworks, and glass production. Potassium nitrate is an ingredient in rocket propellants, gunpowder, medications, fertilizers, and fireworks. In addition, it is utilized in toothpaste since it protects against tooth sensitivity. In addition, potassium nitrate is used to produce fertilizers.
The governments of developing nations provide subsidies for selling fertilizers. This is the primary driver of potassium nitrate intake. In addition, potassium nitrate is resistant to fungal infections, enhances drought tolerance, maintains a balance between proteins and carbs, and promotes food synthesis and root growth in plants. Agriculture has been experiencing a rise in demand for specialized fertilizers. In turn, this is increasing market activity. Increased concerns about the depletion of nonrenewable resources have prompted many organizations to turn to CSPs and other renewable sources. In addition, this drives the demand for potassium nitrate.
The rise in fungicide use in the agricultural sector is anticipated to be a major driver driving the growth of the potassium nitrate market during the forecast period. In addition, the increasing use of potassium nitrate as a fungicide in horticulture applications is predicted to fuel the potassium nitrate market expansion. Appropriate quantities of potassium nitrate can be used to effectively prevent prevalent illnesses in mass-produced fruits and vegetables. This can help reduce waste and increase farm output overall. Consequently, an increase in the use of potassium nitrate as a fungicide in horticulture applications is anticipated to drive market growth during the forecast period. In addition, the increase in mining applications for blasting and drilling is anticipated to mitigate the expansion of the potassium nitrate market. However, inhaling potassium nitrate might result in several health issues, which is expected to hinder the market growth of potassium nitrate during the forecast period. In addition, the rising demand for energy is expected to increase the demand for coal and other minerals, which will create further growth prospects for the potassium nitrate market over the next several years. However, the COVID-19 pandemic, which has badly impacted the global economy, may soon impede the growth of the potassium nitrate market.
The global potassium nitrate market is segmented into raw materials, end-use industry, and region. Depending on raw materials, the market is bifurcated into potassium chloride, ammonium nitrate, and sodium nitrate. On the basis of end-use industry, it is categorized into agriculture, pharmaceutical, glass manufacturing, food & beverage, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global potassium nitrate market include AG Chemi Group s. r. o., Arihant Chemicals, BGP Group of companies, Haifa Negev technologies Ltd, Jagannath Chemicals, Kemapco Arab Fertilizers & Chemicals Industries LTD, Migao Corporation, okchem. com, Positive Chemicals Private Limited, Ravi Chem Industries, Sam Industries Limited, SNDB, SQM S. A, URALCHEM JSC, and Yogi Chemical Industries.
Other players operating in the market are Yara, ANISH CHEMICALS, SNDB, RAM SHREE CHEMICALS, and A. G. I. Industries.
IMPACT OF COVID-19 ON THE GLOBAL POTASSIUM NITRATE MARKET
COVID-19 has spread across the globe and affected almost all aspects of life.The global economy has been negatively affected by the COVID-19 pandemic. It has negatively impacted a number of industrial sectors by disrupting the supply chain.
As a result of months of consumer lockdown and the shutdown of foreign supply networks and retail firms, purchase and consumption patterns have shifted considerably across several sectors. This has negatively damaged the global market for potassium nitrate.
Extended lockdowns in developed market economies and domestic societal estrangement have intensified the negative effect on emerging market economies.
The prolonged shutdown also harmed the agricultural sector. Import/export of key fertilizers has had an impact on the agriculture business, and the negative effect on agricultural business will lower the use of potassium as a fertilizer, thereby influencing the global potassium nitrate market.
However, after the pandemic, as the demand will return to normal after the restrictions were lifted, market participants in this market have explored for measures to minimize the pandemic's impact on their business.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the potassium nitrate market analysis from 2021 to 2031 to identify the prevailing potassium nitrate market opportunities.
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- An in-depth analysis of the potassium nitrate market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global potassium nitrate market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Raw Material
- Ammonium Nitrate
- Potassium Chloride
- Sodium Nitrate
By End-Use Industry
- Agriculture
- Pharmaceutical
- Glass manufacturing
- Food and Beverage
- Others
By Region
- North America
- U. S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest Of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest Of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest Of LAMEA
Key Market Players
- AG Chemi Group s. r. o
- Arihant Chemicals
- BGP Group of companies
- Haifa Negev technologies Ltd
- Jagannath Chemicals
- Kemapco Arab Fertilizers & Chemicals Industries LTD
- Migao Corporation
- okchem. com
- Positive Chemicals Private Limited
- Ravi Chem Industries
- Sam Industries Limited
- SNDB
- SQM S. A
- URALCHEM JSC
- Yogi Chemical Industries
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Table of Contents
CHAPTER 1: INTRODUCTION1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
3.7. Value Chain Analysis
3.8. Key Regulation Analysis
3.9. Patent Landscape
CHAPTER 4: POTASSIUM NITRATE MARKET, BY RAW MATERIAL
4.1 Overview
4.1.1 Market size and forecast
4.2 Potassium Chloride
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Ammonium Nitrate
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 Sodium Nitrate
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
CHAPTER 5: POTASSIUM NITRATE MARKET, BY END-USE INDUSTRY
5.1 Overview
5.1.1 Market size and forecast
5.2 Agriculture
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 Pharmaceutical
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
5.4 Glass manufacturing
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market analysis by country
5.5 Food and Beverage
5.5.1 Key market trends, growth factors and opportunities
5.5.2 Market size and forecast, by region
5.5.3 Market analysis by country
5.6 Others
5.6.1 Key market trends, growth factors and opportunities
5.6.2 Market size and forecast, by region
5.6.3 Market analysis by country
CHAPTER 6: POTASSIUM NITRATE MARKET, BY REGION
6.1 Overview
6.1.1 Market size and forecast
6.2 North America
6.2.1 Key trends and opportunities
6.2.2 North America Market size and forecast, by Raw Material
6.2.3 North America Market size and forecast, by End-Use Industry
6.2.4 North America Market size and forecast, by country
6.2.4.1 U. S.
6.2.4.1.1 Market size and forecast, by Raw Material
6.2.4.1.2 Market size and forecast, by End-Use Industry
6.2.4.2 Canada
6.2.4.2.1 Market size and forecast, by Raw Material
6.2.4.2.2 Market size and forecast, by End-Use Industry
6.2.4.3 Mexico
6.2.4.3.1 Market size and forecast, by Raw Material
6.2.4.3.2 Market size and forecast, by End-Use Industry
6.3 Europe
6.3.1 Key trends and opportunities
6.3.2 Europe Market size and forecast, by Raw Material
6.3.3 Europe Market size and forecast, by End-Use Industry
6.3.4 Europe Market size and forecast, by country
6.3.4.1 Germany
6.3.4.1.1 Market size and forecast, by Raw Material
6.3.4.1.2 Market size and forecast, by End-Use Industry
6.3.4.2 France
6.3.4.2.1 Market size and forecast, by Raw Material
6.3.4.2.2 Market size and forecast, by End-Use Industry
6.3.4.3 UK
6.3.4.3.1 Market size and forecast, by Raw Material
6.3.4.3.2 Market size and forecast, by End-Use Industry
6.3.4.4 Spain
6.3.4.4.1 Market size and forecast, by Raw Material
6.3.4.4.2 Market size and forecast, by End-Use Industry
6.3.4.5 Italy
6.3.4.5.1 Market size and forecast, by Raw Material
6.3.4.5.2 Market size and forecast, by End-Use Industry
6.3.4.6 Rest of Europe
6.3.4.6.1 Market size and forecast, by Raw Material
6.3.4.6.2 Market size and forecast, by End-Use Industry
6.4 Asia-Pacific
6.4.1 Key trends and opportunities
6.4.2 Asia-Pacific Market size and forecast, by Raw Material
6.4.3 Asia-Pacific Market size and forecast, by End-Use Industry
6.4.4 Asia-Pacific Market size and forecast, by country
6.4.4.1 China
6.4.4.1.1 Market size and forecast, by Raw Material
6.4.4.1.2 Market size and forecast, by End-Use Industry
6.4.4.2 Japan
6.4.4.2.1 Market size and forecast, by Raw Material
6.4.4.2.2 Market size and forecast, by End-Use Industry
6.4.4.3 India
6.4.4.3.1 Market size and forecast, by Raw Material
6.4.4.3.2 Market size and forecast, by End-Use Industry
6.4.4.4 South Korea
6.4.4.4.1 Market size and forecast, by Raw Material
6.4.4.4.2 Market size and forecast, by End-Use Industry
6.4.4.5 Rest of Asia-Pacific
6.4.4.5.1 Market size and forecast, by Raw Material
6.4.4.5.2 Market size and forecast, by End-Use Industry
6.5 LAMEA
6.5.1 Key trends and opportunities
6.5.2 LAMEA Market size and forecast, by Raw Material
6.5.3 LAMEA Market size and forecast, by End-Use Industry
6.5.4 LAMEA Market size and forecast, by country
6.5.4.1 Brazil
6.5.4.1.1 Market size and forecast, by Raw Material
6.5.4.1.2 Market size and forecast, by End-Use Industry
6.5.4.2 Saudi Arabia
6.5.4.2.1 Market size and forecast, by Raw Material
6.5.4.2.2 Market size and forecast, by End-Use Industry
6.5.4.3 South Africa
6.5.4.3.1 Market size and forecast, by Raw Material
6.5.4.3.2 Market size and forecast, by End-Use Industry
6.5.4.4 Rest of LAMEA
6.5.4.4.1 Market size and forecast, by Raw Material
6.5.4.4.2 Market size and forecast, by End-Use Industry
CHAPTER 7: COMPANY LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product Mapping of Top 10 Players
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Key developments
CHAPTER 8: COMPANY PROFILES
8.1 AG Chemi Group s. r. o
8.1.1 Company overview
8.1.2 Company snapshot
8.1.3 Operating business segments
8.1.4 Product portfolio
8.1.5 Business performance
8.1.6 Key strategic moves and developments
8.2 Arihant Chemicals
8.2.1 Company overview
8.2.2 Company snapshot
8.2.3 Operating business segments
8.2.4 Product portfolio
8.2.5 Business performance
8.2.6 Key strategic moves and developments
8.3 BGP Group of companies
8.3.1 Company overview
8.3.2 Company snapshot
8.3.3 Operating business segments
8.3.4 Product portfolio
8.3.5 Business performance
8.3.6 Key strategic moves and developments
8.4 Haifa Negev technologies Ltd
8.4.1 Company overview
8.4.2 Company snapshot
8.4.3 Operating business segments
8.4.4 Product portfolio
8.4.5 Business performance
8.4.6 Key strategic moves and developments
8.5 Jagannath Chemicals
8.5.1 Company overview
8.5.2 Company snapshot
8.5.3 Operating business segments
8.5.4 Product portfolio
8.5.5 Business performance
8.5.6 Key strategic moves and developments
8.6 Kemapco Arab Fertilizers & Chemicals Industries LTD
8.6.1 Company overview
8.6.2 Company snapshot
8.6.3 Operating business segments
8.6.4 Product portfolio
8.6.5 Business performance
8.6.6 Key strategic moves and developments
8.7 Migao Corporation
8.7.1 Company overview
8.7.2 Company snapshot
8.7.3 Operating business segments
8.7.4 Product portfolio
8.7.5 Business performance
8.7.6 Key strategic moves and developments
8.8 okchem. com
8.8.1 Company overview
8.8.2 Company snapshot
8.8.3 Operating business segments
8.8.4 Product portfolio
8.8.5 Business performance
8.8.6 Key strategic moves and developments
8.9 Positive Chemicals Private Limited
8.9.1 Company overview
8.9.2 Company snapshot
8.9.3 Operating business segments
8.9.4 Product portfolio
8.9.5 Business performance
8.9.6 Key strategic moves and developments
8.10 Ravi Chem Industries
8.10.1 Company overview
8.10.2 Company snapshot
8.10.3 Operating business segments
8.10.4 Product portfolio
8.10.5 Business performance
8.10.6 Key strategic moves and developments
8.11 Sam Industries Limited
8.11.1 Company overview
8.11.2 Company snapshot
8.11.3 Operating business segments
8.11.4 Product portfolio
8.11.5 Business performance
8.11.6 Key strategic moves and developments
8.12 SNDB
8.12.1 Company overview
8.12.2 Company snapshot
8.12.3 Operating business segments
8.12.4 Product portfolio
8.12.5 Business performance
8.12.6 Key strategic moves and developments
8.13 SQM S. A
8.13.1 Company overview
8.13.2 Company snapshot
8.13.3 Operating business segments
8.13.4 Product portfolio
8.13.5 Business performance
8.13.6 Key strategic moves and developments
8.14 URALCHEM JSC
8.14.1 Company overview
8.14.2 Company snapshot
8.14.3 Operating business segments
8.14.4 Product portfolio
8.14.5 Business performance
8.14.6 Key strategic moves and developments
8.15 Yogi Chemical Industries
8.15.1 Company overview
8.15.2 Company snapshot
8.15.3 Operating business segments
8.15.4 Product portfolio
8.15.5 Business performance
8.15.6 Key strategic moves and developments
Executive Summary
According to this report, titled, 'Potassium Nitrate Market,' the potassium nitrate market was valued at $1.7 billion in 2021 and is estimated to reach $2.4 billion by 2031, growing at a CAGR of 4.0% from 2022 to 2031.The crystalline salt potassium nitrate (KNO3) is white to grey in color. It occurs naturally in its purest form. It can also be manufactured by combining potassium chloride with sodium nitrate. Potassium nitrate is a potent oxidizer that helps accelerate the combustion of flammable material. Consequently, it is utilized extensively in agriculture, fireworks, rocket propellants, gunpowder, and medicine. In the food sector, potassium nitrate is often used to preserve foods, such as beef, ham, and salami. In the agricultural industry, it is also utilized to manufacture fertilizers.
Increasing demand from the food and pharmaceutical industries is expected to contribute to the expansion of the potassium nitrate market. Potassium supplements aid in reducing blood pressure when administered medicinally. It is also a well-known substance for desensitizing sore teeth, making it a typical constituent in toothpaste designed to treat sensitive teeth. In addition, potassium nitrate is used in the food industry to retain the proper color of hard cheeses and meats and to preserve foods against microbiological agents. Consequently, increased product demand from these industries is expected to boost market expansion during the forecast period. However, potassium nitrate inhalation might produce headaches, coughing and sneezing, vertigo, and weariness. This restricts its use in different applications and is projected to hinder market expansion.
In addition to its usage as a fertilizer, potassium nitrate is also employed in the production of fireworks, gunpowder, medications, and others. Nitrogen is a vital ingredient for all living things. Potassium nitrate becomes a source of nitrogen and potassium when used as a fertilizer. A larger population necessitates higher crop production, which can be secured by using a quality fertilizer.
The potassium nitrate market is segmented into raw materials, end-use industry, and region. Depending on raw materials, the market is bifurcated into potassium chloride, ammonium nitrate, and sodium nitrate. On the basis of end-use industry, it is categorized into agriculture, pharmaceutical, glass manufacturing, food & beverage, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA
The major players operating in the global potassium nitrate market are AG Chemi Group s.r.o., Arihant Chemicals, BGP Group of companies, Haifa Negev technologies Ltd, Jagannath Chemicals, Kemapco Arab Fertilizers & Chemicals Industries LTD, Migao Corporation, okchem.com, Positive Chemicals Private Limited, Ravi Chem Industries, Sam Industries Limited, SNDB, SQM S.A, URALCHEM JSC, and Yogi Chemical Industries. Other players operating in the market are Yara, ANISH CHEMICALS, SNDB, RAM SHREE CHEMICALS, and A.G.I. Industries.
Key findings of the study
On the basis of raw materials, the ammonium nitrate segment is expected to grow at a CAGR of 4.4%, in terms of revenue, during the forecast period.Depending on the end-use industry, the pharmaceutical segment is expected to grow at a CAGR of 5.2%, in terms of revenue, during the forecast period.
Region-wise, Asia-Pacific garnered a share of $ 724.4 million in 2021 in terms of revenue.
IMPACT OF COVID-19 ON THE GLOBAL POTASSIUM NITRATE MARKET
Extended lockdowns in developed market economies and domestic societal estrangement have intensified the negative effect on emerging market economies.The prolonged shutdown also harmed the agricultural sector. Import/export of key fertilizers has had an impact on the agriculture business, and the negative effect on the agricultural business will lower the use of potassium as a fertilizer, thereby influencing the global potassium nitrate market.
However, after the pandemic, as the demand will return to normal after the restrictions were lifted, market participants in this market have explored measures to minimize the pandemic's impact on their business.
Companies Mentioned
- AG Chemi Group S.R.O
- Arihant Chemicals
- Bgp Group of Companies
- Haifa Negev Technologies Ltd.
- Jagannath Chemicals
- Kemapco Arab Fertilizers & Chemicals Industries Ltd.
- Migao Corporation
- Okchem.Com
- Positive Chemicals Private Limited
- Ravi Chem Industries
- Sam Industries Limited
- Sndb
- Sqm S.A
- Uralchem Jsc
- Yogi Chemical Industries
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 225 |
| Published | October 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 1.7 billion |
| Forecasted Market Value ( USD | $ 2.4 billion |
| Compound Annual Growth Rate | 3.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
