Research Methodology on Ceramic Matrix Composites Market
1. Introduction
This report aims to analyse the global market for ceramic matrix composites (CMCs). The market overview, market dynamics, competitive landscape and other factors will be analysed in the research. The research provides a contextual overview of the market including an assessment of the production and consumption of CMCs, advancements in CMC materials, industry trends and competitive strategies adopted by leading players in the market. Additionally, the research will assess the global market size and forecasts for the short and medium-term such as CAGR (Compound Annual Growth Rate) in terms of value during 2023 and 2030.
The research methodology applied has been based on intensive primary and secondary research. The process of research to ascertain the market estimates begins with studying the existing literature including company literature, published articles, relevant market reports, press releases, industry magazines, and articles, trade journals, and market intelligence. The secondary research helps to identify other potential sources of information and concludes the global size of the CMC market. The primary research involves conducting qualitative and quantitative interviews with companies, industry experts, and other stakeholders in the market.
2. Research Objectives
The primary objectives of this research are as follows:
• To analyse and forecast the global market for CMCs and its segments, in terms of value.
• To assess the short-term and long-term market developments and identify the key trends impacting the CMCs market.
• To identify the key market drivers, restraints, opportunities, and challenges.
• To identify key industry trends and competitive developments in the global CMCs market.
• To identify the most promising and attractive segments for investment purposes.
3. Methodology
For this research, Market Research Future (MRFR) has studied the global CMCs market thoroughly to unlock the trends and insights associated with the product. The assessment has been made by using qualitative as well as quantitative analysis techniques. The qualitative analysis techniques used are Porter’s Five Forces Analysis, SWOT Analysis and Value Chain Analysis. The quantitative analysis techniques used for the research are Top-Down and Bottom-Up approaches.
i) Market Size Estimation
MRFR has performed a market size estimation to identify the market size and market value of CMCs in the global market. The market value for CMCs was identified by using the top-down and bottom-up approach.
• Top-down Component: Firstly the total addressable market (TAM) for CMCs was determined. The TAM of the CMCs was calculated by multiplying the total production rate of CMCs with their average selling price. The total production rate was estimated by primary and secondary research.
• Bottom-up Component: The bottom-up approach was adopted for the research to triangulate the market size and value of CMCs. Secondary research was again used to source production information from various industry sources and companies.
ii) Market Segmentation
The global CMCs market has been segmented regionally into five key markets: North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
• North America: Canada, Mexico, and the United States
• Europe: Austria, Belgium, Czech Republic, Denmark, France, Germany, Greece, Hungary, Ireland, Italy, Netherlands, Poland, Portugal, Romania, Slovakia, Spain, Sweden, and the United Kingdom
• Asia-Pacific: China, India, Japan, South Korea, Australia, Indonesia, and Other
• Latin America: Brazil, Argentina, and Other
• Middle East & Africa: Saudi Arabia, UAE, Egypt, and Other
iii) Data Collection
The research has been based on extensive secondary and primary research. The primary research was conducted in two stages: qualitative and quantitative.
• Qualitative Research: Softback interviews were conducted with industry stakeholders and experts. The qualitative interviews were streamlined by semi-structured questions related to each segment. The objective of the qualitative research was to understand the key trends and opportunities shaping the CMCs market.
• Quantitative Research: Quantitative research was conducted to develop an accurate market size and demand outlook for the global CMCs market. The research was conducted by extensively studying the forecasts provided by regional and global organizations, identifiable future technological trends and industry dynamics.
iv) Data Validation
MRFR has followed a rigid path of data validation to ensure the authenticity of the report. Three data validation processes have been followed:
• Triangulation
• Cross Validation
• Demographic Analysis
v) Assumptions
The findings of this research are subject to certain assumptions. Some of the assumptions of this report are as follows:
• The market size is estimated based on the global CMC production rate
• The market value is estimated based on the regional demand
4. Conclusion
The research methodology adopted in this report has been derived using a combination of primary and secondary research. The primary research has been conducted to gather qualitative and quantitative information from industry stakeholders including industry experts, industry associations, and primary respondents. The secondary research has been conducted to obtain the production rate of CMCs from various sources such as trade magazines, industry-leading magazines, industry reports and other sources. The estimates have also been triangulated to ensure accuracy and precision. The research was also complemented by an extensive analysis using Porter’s Five Forces Analysis, SWOT Analysis and Value Chain Analysis.
