Green Building Materials Market

Green Building Materials Market Size by Product Type (Structural, Interior, Exterior and Others), Application (Framing, Roofing, Interior and Exterior Finishing, Insulation, Flooring, Siding and Others), End User (Residential Buildings and Non-Residential Buildings), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-13478
  • Published Date: Aug, 2024
  • Pages: 238
  • Category: Chemicals & Materials
  • Format: PDF
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The global green building materials market was valued at USD 328 billion in 2023 and grew at a CAGR of 10.5% from 2024 to 2033. The market is expected to reach USD 890.22 billion by 2033. The increasing demand for housing in developing nations will drive the growth of the global green building materials market.  The growing concern about the environment will also play an important role in growing the market of Green Building Materials. Green Building Materials will help to save the environment. Its use will help reduce greenhouse gas emissions. At the same time, many products used in the materials used in construction use chemicals, which affects the health of workers as well as the environment.

Market Introduction:

Building and construction are among the most significant economic sectors contributing substantially to national growth and development. The development of infrastructure drives the demand for other sectors and creates a positive effect on income and employment generation as well. With the rising concerns of climate change and dwindling natural resources, it is imperative to identify sustainable and eco-friendly building and construction practices. Green building materials can achieve self-sustaining, economical, environmentally friendly, sustainable buildings and other constructions. Green building materials also reduce the burden on natural resources. The materials used in green buildings are often self-sustaining, and they reduce maintenance costs. They conserve energy and positively affect the health of the residents and the surrounding environment. The appearance and functionality of the utilities in the building can be customized as green building materials offer higher flexibility. Green building materials are obtained or sourced from the abundant reserves of renewable energy sources or products that are recyclable. Additionally, green building materials also incorporate sustainable manufacturing or processing techniques. It also envisages products and systems that withstand moisture or prevent the growth of biological pollutants in buildings. It also deploys methods of water conservation. Earthen Materials, bamboo, Wood, Insulated Concrete Forms, straw bale, slate and cordwood are a few examples of green building materials.  To promote Green Building Materials, the government can also order builders to follow building codes and standards. They can implement a rule to increase the use of Green Building Materials, which will increase the sustainable construction materials market. Green Building Materials can help make a building energy efficient. Due to increased energy efficiency, the operational cost of the building will be reduced, as will electricity bills.

Green Building Materials Market Size

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Recent Development
  • April 2023: OnWood, the first-ever circular economy, sustainable, Class A, high performance, eco-fire-retardant treated wood, was introduced by T2EARTH LLC, a pioneer in the green building industry and a science-based, innovation-driven manufacturer of sustainable, toxic-chemical-free, and superior-performance forest products. The first wood product of its type, OnWood 1.0, was introduced today by T2EARTH LLC, the eco-friendly treated wood industry disruptor. According to American Wood Products Association (AWPA) Standard U1, OnWood 1.0 is classified as an Interior Type A (HT) fire-retardant wood. It is the first Class A, fire-retardant-treated wood product in the world that is completely circular economy concepts focused, environmentally sustainable, and ICC-ES certified. It is toxin-free, has superior performance and minimal environmental impact.
  • April 2023: The only hospital in Florida, CF Lake Nona Hospital, and only the 28th in the country, got the green building accreditation. The U.S. Green Building Council (USGBC) developed LEED (Leadership in Energy and Environmental Design), the most extensively utilized green building rating system globally and a benchmark for excellence. Buildings that have earned the LEED certification contribute to a more sustainable global environment by using design, construction, and operational techniques that enhance human and environmental health. Buildings alone are responsible for about 40% of the country's CO2 emissions. In contrast, LEED-certified structures emit 34% less CO2, use 25% less energy, 11% less water, and recycle more than 80 million tonnes of garbage from landfills.

Market Dynamics:

Drivers

The increasing demand for building and construction in developing nationsThe world's developing nations are witnessing a population rise. They are also witnessing an increase in the personal disposable income of the population, which facilitates greater saving, investment and consumption expenditure on their part. The rising demand for a better quality of life is being facilitated by rapid urbanization. The increasing housing demands can be attributed to the rising population, per capita income and rapid urbanization. The government is also increasing infrastructural spending to offer affordable housing to the citizenry and create roads, bridges, airports and ports to augment national economic growth and development. The growing building and construction activities must be eco-friendly and sustainable to balance environmental conservation. The growing concerns of climate change have further facilitated a shift towards more sustainable methods, products and systems in all economic sectors. Therefore, the increasing demand for building and construction in developing nations will bode well for the growth of the global sustainable construction materials market.

Restraints:

The Green building materials are expensive Using green materials saves users high costs in the long term. However, this benefit is overshadowed by the high initial investments required for utilizing green building materials in construction activities or other infrastructural amenities. The production of non-green building materials involves significantly lower costs. They are well-known and tested materials in the worldwide construction industry. The population has more awareness and knowledge about these materials, encouraging them to use them. Therefore, the expensive nature of green building materials will hamper the market's growth.

Opportunities:

The favourable government rules and regulations the growing population with rising disposable income- drives infrastructural demands for more housing, office spaces, industries, commercial complexes, roads, bridges and other public amenities. The government is meeting these demands with a comprehensive, standardized, integrated regulatory framework governing the building and construction sector. However, the need to balance environmental conservation and urban development can only be met by incorporating sustainable products, systems and methods in the industry. Therefore, the government is encouraging the use of green building materials by incentivizing, subsidizing and standardizing approvals governing these materials. They also encourage using green materials by levying higher taxes or non-tax restrictions on non-green building materials. Therefore, favourable government rules and regulations will offer lucrative opportunities in the global sustainable construction materials market in the forecast period.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the largest global green building materials market, with a 41% market revenue share in 2023.

North American region will account for the largest market share with revenue growth. The demand for renovation and refurbishing in the region will drive the demand for green building materials. The demand for new infrastructure for housing, commercial complexes, industrial units and connectivity projects will also drive the regional sustainable construction materials market. The rising awareness about green building materials and their benefits like cost and energy saving over the long term will contribute to the regional market's growth. The presence of significant market players with access to advanced technologies driving innovation will augment the market's growth. The government's push towards adopting eco-friendly construction measures will also bode well for the market.

North America Region Green Building Materials Market Share in 2023 - 41%

 

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  • The most popular green building rating system in the world is LEED (Leadership in Energy and Environmental Design). The framework for healthy, highly effective, and cost-effective green buildings that bring advantages to the environment, society, and government is provided by LEED certification. The US Green Building Council awards it. It is Globally recognized as a mark of leadership and success in sustainability. Buildings with LEED certification are valuable for owners, tenants, and communities. They have demonstrated to be excellent investments in commercial real estate.
Product type Segment Analysis

The product type segment is divided into structural, interior, exterior and others. The structural segment dominated the market, with a market share of around 44% in 2023. Structural building materials form the foundational base of buildings. Iron, steel, concrete and other basic components make the standing structures. They are an intrinsic part of the buildings. The use of structural green building materials has several benefits. It saves costs in the long run. It is easy to maintain and has minimal replacement costs. It conserves energy and is sustainable. They are financially viable and eco-friendly products. For instance, weather-resistant aluminium insulated access panel helps in managing temperature. Several other such materials make up the segment, and they are highly popular in the market, thereby contributing to their dominance in the market.

Application Segment Analysis

The application segment is divided into framing, roofing, interior and exterior finishing, insulation, flooring, siding and others. The roofing segment dominated the market, with a market share of around 43% in 2023. The roof serves as a building's top layer of defence against weather extremes like wind, rain, and snow. The process of erecting, repairing, or maintaining a building's roof is called roofing. Roofing with green building materials offers several economic, ecological, and societal advantages. A green roof utilizes sustainable materials, systems and devices to protect against rainfall and extreme weather. It aids in water conservation, air purification, lowering outdoor temperatures, and regulating internal temperatures, conserving energy. The multiple benefits of using green building materials in roofing contribute to its dominance in the market.

End-user Segment Analysis

The end-user segment is divided into residential buildings and non-residential buildings. The residential buildings segment dominated the market, with a market share of around 55% in 2023. All structures intended for private occupancy are considered residential buildings. Residential green building materials involve products, systems, and devices that consume less energy, water, and materials. They have a smaller environmental impact and provide a healthy interior environment for their residents. The growing awareness about green residential buildings and their several benefits, like Improved Indoor Environment Quality of Life and health and water and energy conservation, has contributed to their dominance in the market. Furthermore, the Reduced Operational Cost and Maintenance help in savings, a prime driving factor of the global green building materials market segment.

Some of the Key Market Players:
  • Alumasc Group Plc
  • Amvik Systems
  • BASF SE
  • CertainTeed Corporation
  • E. I. du Pont de Nemours and Company
  • Forbo International SA
  • Interface Inc.
  • Kingspan Group Plc
  • Owens Corning
  • Sika AG

Report Description: 

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2023 USD 328 Billion
Market size value in 2033 USD 890.22 Billion
CAGR (2024 to 2033) 10.5%
Historical data 2020-2022
Base Year 2023
Forecast 2024-2033
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Product Type, Application, End User

Frequesntly Asked Questions

As per The Brainy Insights, the size of the global green building materials market was valued at USD 328 billion in 2023 to USD 890.22 billion by 2033.

Global green building materials market is growing at a CAGR of 10.5% during the forecast period 2024-2033.

The market's growth will be influenced by the increasing demand for building and construction in developing nations.

The green building materials are expensive and that could hamper the market growth.

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 Product Type
          4.3.2. Market Attractiveness Analysis by Application
          4.3.3. Market Attractiveness Analysis by End User
          4.3.4. Market Attractiveness Analysis by Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. The increasing demand for building and construction in developing nations
    5.3. Restraints
          5.3.1. The green building materials are expensive
    5.4. Opportunities
          5.4.1. The favorable government rules and regulations
    5.5. Challenges
          5.5.1. The lack of awareness about green building materials

6. Global Green Building Materials Market Analysis and Forecast, By Product Type
    6.1. Segment Overview
    6.2. Structural
    6.3. Interior
    6.4. Exterior
    6.5. Others

7. Global Green Building Materials Market Analysis and Forecast, By Application
    7.1. Segment Overview
    7.2. Framing
    7.3. Roofing
    7.4. Interior and Exterior Finishing
    7.5. Insulation
    7.6. Flooring
    7.7. Siding
    7.8. Others

8. Global Green Building Materials Market Analysis and Forecast, By End User
    8.1. Segment Overview
    8.2. Residential Buildings
    8.3. Non-Residential Buildings

9. Global Green Building Materials 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 Green Building Materials Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Green Building Materials 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. Alumasc Group Plc
          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. Amvik Systems
          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. BASF SE
          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. CertainTeed Corporation
          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. E. I. du Pont de Nemours and Company
          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. Forbo International SA
          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. Interface 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. Kingspan Group Plc
          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. Owens Corning
          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
    11.10. Sika AG
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis

List of Table

1. Global Green Building Materials Market, By Product Type, 2020-2033 (USD Billion) 

2. Global Structural Green Building Materials Market, By Region, 2020-2033 (USD Billion) 

3. Global Interior Green Building Materials Market, By Region, 2020-2033 (USD Billion) 

4. Global Exterior Green Building Materials Market, By Region, 2020-2033 (USD Billion) 

5. Global Others Green Building Materials Market, By Region, 2020-2033 (USD Billion) 

6. Global Green Building Materials Market, By Application, 2020-2033 (USD Billion) 

7. Global Framing Green Building Materials Market, By Region, 2020-2033 (USD Billion) 

8. Global Roofing Green Building Materials Market, By Region, 2020-2033 (USD Billion) 

9. Global Interior and Exterior Finishing Green Building Materials Market, By Region, 2020-2033 (USD Billion) 

10. Global Insulation Green Building Materials Market, By Region, 2020-2033 (USD Billion) 

11. Global Flooring Green Building Materials Market, By Region, 2020-2033 (USD Billion) 

12. Global Siding Green Building Materials Market, By Region, 2020-2033 (USD Billion) 

13. Global Others Green Building Materials Market, By Region, 2020-2033 (USD Billion) 

14. Global Green Building Materials Market, By End User, 2020-2033 (USD Billion) 

15. Global Residential Buildings Green Building Materials Market, By Region, 2020-2033 (USD Billion) 

16. Global Non-Residential Buildings Green Building Materials Market, By Region, 2020-2033 (USD Billion) 

17. Global Green Building Materials Market, By Region, 2020-2033 (USD Billion) 

18. North America Green Building Materials Market, By Product Type, 2020-2033 (USD Billion) 

19. North America Green Building Materials Market, By Application, 2020-2033 (USD Billion) 

20. North America Green Building Materials Market, By End User, 2020-2033 (USD Billion) 

21. U.S. Green Building Materials Market, By Product Type, 2020-2033 (USD Billion) 

22. U.S. Green Building Materials Market, By Application, 2020-2033 (USD Billion) 

23. U.S. Green Building Materials Market, By End User, 2020-2033 (USD Billion) 

24. Canada Green Building Materials Market, By Product Type, 2020-2033 (USD Billion) 

25. Canada Green Building Materials Market, By Application, 2020-2033 (USD Billion) 

26. Canada Green Building Materials Market, By End User, 2020-2033 (USD Billion) 

27. Mexico Green Building Materials Market, By Product Type, 2020-2033 (USD Billion) 

28. Mexico Green Building Materials Market, By Application, 2020-2033 (USD Billion) 

29. Mexico Green Building Materials Market, By End User, 2020-2033 (USD Billion) 

30. Europe Green Building Materials Market, By Product Type, 2020-2033 (USD Billion) 

31. Europe Green Building Materials Market, By Application, 2020-2033 (USD Billion) 

32. Europe Green Building Materials Market, By End User, 2020-2033 (USD Billion) 

33. Germany Green Building Materials Market, By Product Type, 2020-2033 (USD Billion) 

34. Germany Green Building Materials Market, By Application, 2020-2033 (USD Billion) 

35. Germany Green Building Materials Market, By End User, 2020-2033 (USD Billion) 

36. France Green Building Materials Market, By Product Type, 2020-2033 (USD Billion) 

37. France Green Building Materials Market, By Application, 2020-2033 (USD Billion) 

38. France Green Building Materials Market, By End User, 2020-2033 (USD Billion) 

39. U.K. Green Building Materials Market, By Product Type, 2020-2033 (USD Billion) 

40. U.K. Green Building Materials Market, By Application, 2020-2033 (USD Billion) 

41. U.K. Green Building Materials Market, By End User, 2020-2033 (USD Billion) 

42. Italy Green Building Materials Market, By Product Type, 2020-2033 (USD Billion) 

43. Italy Green Building Materials Market, By Application, 2020-2033 (USD Billion) 

44. Italy Green Building Materials Market, By End User, 2020-2033 (USD Billion) 

45. Spain Green Building Materials Market, By Product Type, 2020-2033 (USD Billion) 

46. Spain Green Building Materials Market, By Application, 2020-2033 (USD Billion) 

47. Spain Green Building Materials Market, By End User, 2020-2033 (USD Billion) 

48. Asia Pacific Green Building Materials Market, By Product Type, 2020-2033 (USD Billion) 

49. Asia Pacific Green Building Materials Market, By Application, 2020-2033 (USD Billion) 

50. Asia Pacific Green Building Materials Market, By End User, 2020-2033 (USD Billion) 

51. Japan Green Building Materials Market, By Product Type, 2020-2033 (USD Billion) 

52. Japan Green Building Materials Market, By Application, 2020-2033 (USD Billion) 

53. Japan Green Building Materials Market, By End User, 2020-2033 (USD Billion) 

54. China Green Building Materials Market, By Product Type, 2020-2033 (USD Billion) 

55. China Green Building Materials Market, By Application, 2020-2033 (USD Billion) 

56. China Green Building Materials Market, By End User, 2020-2033 (USD Billion) 

57. India Green Building Materials Market, By Product Type, 2020-2033 (USD Billion) 

58. India Green Building Materials Market, By Application, 2020-2033 (USD Billion) 

59. India Green Building Materials Market, By End User, 2020-2033 (USD Billion) 

60. South America Green Building Materials Market, By Product Type, 2020-2033 (USD Billion) 

61. South America Green Building Materials Market, By Application, 2020-2033 (USD Billion)

62. South America Green Building Materials Market, By End User, 2020-2033 (USD Billion)

63. Brazil Green Building Materials Market, By Product Type, 2020-2033 (USD Billion) 

64. Brazil Green Building Materials Market, By Application, 2020-2033 (USD Billion) 

65. Brazil Green Building Materials Market, By End User, 2020-2033 (USD Billion)

66. Middle East and Africa Green Building Materials Market, By Product Type, 2020-2033 (USD Billion) 

67. Middle East and Africa Green Building Materials Market, By Application, 2020-2033 (USD Billion) 

68. Middle East and Africa Green Building Materials Market, By End User, 2020-2033 (USD Billion)

69. UAE Green Building Materials Market, By Product Type, 2020-2033 (USD Billion) 

70. UAE Green Building Materials Market, By Application, 2020-2033 (USD Billion) 

71. UAE Green Building Materials Market, By End User, 2020-2033 (USD Billion)

72. South Africa Green Building Materials Market, By Product Type, 2020-2033 (USD Billion) 

73. South Africa Green Building Materials Market, By Application, 2020-2033 (USD Billion) 

74. South Africa Green Building Materials Market, By End User, 2020-2033 (USD Billion) 

List of Figures 

1. Global Green Building Materials Market Segmentation

2. Green Building Materials 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 Green Building Materials Market Attractiveness Analysis by Product Type

9. Global Green Building Materials Market Attractiveness Analysis by Application

10. Global Green Building Materials Market Attractiveness Analysis by End User

11. Global Green Building Materials Market Attractiveness Analysis by Region

12. Global Green Building Materials Market: Dynamics

13. Global Green Building Materials Market Share by Product Type (2023 & 2033)

14. Global Green Building Materials Market Share by Application (2023 & 2033)

15. Global Green Building Materials Market Share by End User (2023 & 2033)

16. Global Green Building Materials Market Share by Regions (2023 & 2033)

17. Global Green Building Materials Market Share by Company (2023)

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

Global Green Building Materials Market by Product Type:

  • Structural
  • Interior
  • Exterior
  • Others

Global Green Building Materials Market by Application:

  • Framing
  • Roofing
  • Interior and Exterior Finishing
  • Insulation
  • Flooring
  • Siding
  • Others

Global Green Building Materials Market by End User:

  • Residential Buildings
  • Non-Residential Buildings

Global Green Building Materials 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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