Research Methodology on Aromatic Solvents Market
Introduction:
This research will provide a comprehensive overview of the global Aromatic Solvents Market. The market is expected to witness a gradual growth during the forecast period (2023-2030). Aromatic solvents are a type of petroleum-based solvent used mainly in the petrochemical, printing inks, and coatings industries. It has numerous applications such as versatile solvents in degreasing, paint stripping, adhesive removers, and adhesives.
Research Methodology
The research methodology adopted for the present research report was a combination of desk research (secondary research) along direct interviews (primary research). The primary and secondary research was conducted in phases to ensure that the research was properly carried out most efficiently.
Secondary Research:
The primary focus of the secondary research was to procure relevant data and information regarding the Analytical Standard (API) Market from various sources such as industry websites, trade journals, press releases, and publications from government agencies. Along with this, unfolding market trends, growth prospects, dominant market players, segmentation and strategies were also identified through secondary research. Furthermore, various studies, reports and articles by industry experts were also reviewed to understand the dynamics of the Analytical Standard Market.
Primary Research:
Along with the secondary research, a stage of primary research was also included. Primary research was conducted through direct interviews with industry professionals, industry experts, industry stakeholders, and suppliers from various participants of the Analytical Standard Market. This helped ascertain the actual market size, key industry trends, and development strategies of the key players which will be highly beneficial for the overall report.
Research Approach:
To carry out effective research, three approaches were utilized to extrapolate the data and information from the secondary and primary sources incorporating both qualitative and quantitative parameters. These included Bottom-up Approach, Top-Down Approach, and Triangulation.
Bottom-up Approach:
The bottom-up approach is an analysis method that starts with the individual parts of the market and then works its way up to the whole. This approach was used to assess the market shares, size, and growth of the individual segments and their application in terms of revenue and volume. This helped extrapolate the overall size and growth of the global market.
Top-Down Approach:
The top-down approach worked in the reverse of the bottom-up approach. This involved dividing the overall market into prospects and segments based on geography, application, and segmentation. The overall size and growth rate of each geographies was then analyzed along with the key players, to understand the overall prospects of the Analytical Standard Market.
Triangulation:
The triangulation process involved gathering data from both primary and secondary sources to corroborate the various aspects of the market, such as global, regional, country-wise, and segment-wise. This process helped in ascertaining the actual growth and development strategies of the market players.
Data Verification and Validation:
The data and information gathered from the primary and secondary sources were analysed through various validations and estimations based on the triangulation process undertaken. This also included the demand-side and supply-side data triangulation. The data was then verified and analysed by our market research and analysis team to gain accurate insights into the global Analytical Standard Market.
Time-series Analysis:
The time-series analysis involved retrospection and subsequent projection of the market size and growth rate for the historical period 2071-2022, and the forecast period 2023-2030. This was undertaken in order to identify and analyze the historical and projected trends of the global Analytical Standard Market for both countries and regions.
Factor Analysis:
The factor analysis was conducted to understand the key drivers and restraints along with their anticipated impact on the growth and future prospects of the Analytical Standard Market. The macroeconomic factors were also taken into consideration along with the competitive landscape and opportunities therein.
Conclusion:
The research methodology employed in preparing this research report follows a comprehensive approach. This was done by garnering data through both secondary and primary sources along with the implementation of various approaches such as Bottom-up Approach, Top-Down Approach, Triangulation, Time-series Analysis, and Factor Analysis. This helped in providing precise insights into the market and the issues and opportunities therein.
