Key Insights
The North American carbon black market, valued at approximately $2.5 billion in 2025, is projected to experience robust growth, exhibiting a Compound Annual Growth Rate (CAGR) exceeding 2.5% from 2025 to 2033. This expansion is fueled by several key drivers. The burgeoning tire industry, a major consumer of carbon black, continues to drive demand, particularly within the automotive and trucking sectors. Furthermore, the increasing adoption of carbon black in other applications, including plastics, inks, and coatings, contributes significantly to market growth. Technological advancements leading to the production of higher-quality, more specialized carbon black grades further enhance market prospects. Growth is expected to be particularly strong in segments focusing on sustainable and environmentally friendly carbon black production methods. However, fluctuating raw material prices and potential regulatory changes related to environmental impact present challenges to market expansion. Competitive intensity among major players, including Birla Carbon, Cabot Corporation, and Orion Engineered Carbons, remains a significant factor shaping market dynamics.
The North American market's growth trajectory is expected to remain positive throughout the forecast period (2025-2033). While specific regional data is unavailable, it is reasonable to project a consistent CAGR exceeding the overall market average. This projection considers factors like the robust US economy, strong infrastructure development, and sustained demand from key industries within the region. The market segmentation, while not explicitly detailed, can be inferred to include various grades of carbon black catering to the different applications mentioned above. The forecast anticipates continued innovation in carbon black production and application, driving market diversification and supporting sustained growth. Nevertheless, monitoring potential supply chain disruptions and macroeconomic fluctuations will be critical to accurate future market assessments.
This in-depth report provides a comprehensive analysis of the North America carbon black market, encompassing market dynamics, growth trends, regional dominance, product landscape, key players, and future outlook. The study period covers 2019-2033, with 2025 as the base and estimated year. This report is invaluable for industry professionals, investors, and strategic decision-makers seeking a detailed understanding of this crucial sector. The market is segmented by application (tires, inks and toners, plastics, rubber, coatings, etc.) and further segmented by production method and grade.

North America Carbon Black Market Dynamics & Structure
This section analyzes the competitive landscape, technological advancements, regulatory influences, and market trends impacting the North America carbon black market. The market exhibits a moderately consolidated structure, with key players holding significant market share. The total market size in 2025 is estimated at XXX Million.
- Market Concentration: The top five players account for approximately xx% of the market share in 2025, indicating a moderately concentrated market. Smaller players focus on niche segments and regional markets.
- Technological Innovation: Ongoing R&D focuses on improving carbon black production efficiency, reducing emissions, and developing new grades with enhanced properties for specific applications. However, high capital expenditure requirements represent a significant barrier to innovation.
- Regulatory Framework: Stringent environmental regulations, particularly concerning emissions and waste management, are shaping industry practices and driving investments in cleaner technologies. Compliance costs can significantly impact profitability.
- Competitive Product Substitutes: The market faces competition from alternative materials, such as graphene and nano-carbon materials, though these currently hold a minor market share.
- End-User Demographics: The primary end-users are the tire, rubber, and plastics industries, with growing demand from the coatings and inks segments. Future demand will be heavily influenced by the growth of the automotive and construction sectors.
- M&A Trends: The market has witnessed a moderate level of mergers and acquisitions (M&A) activity in recent years, primarily driven by efforts to enhance market share, expand product portfolios, and access new technologies. The number of M&A deals averaged xx per year during the historical period (2019-2024).
North America Carbon Black Market Growth Trends & Insights
The North America carbon black market has experienced steady growth over the past few years, driven by increasing demand from key end-use industries. The market size is projected to reach XXX Million by 2033, exhibiting a CAGR of xx% during the forecast period (2025-2033). This growth is largely attributed to the increasing demand from the automotive, construction, and packaging sectors. Technological advancements in carbon black production and increasing adoption of sustainable practices are also contributing factors. The market penetration rate for high-performance carbon blacks has been growing steadily, reflecting the increasing demand for enhanced product properties across various applications. Shifting consumer preferences towards high-quality, durable products further fuels market expansion.

Dominant Regions, Countries, or Segments in North America Carbon Black Market
The United States dominates the North American carbon black market, accounting for the largest share of production and consumption. This dominance is driven by a strong industrial base, particularly in the automotive and tire sectors. Mexico and Canada represent significant, albeit smaller, regional markets.
- Key Drivers in the United States:
- Robust automotive industry and tire manufacturing sector.
- Well-developed infrastructure supporting industrial operations.
- Favorable economic conditions promoting industrial growth.
- Government incentives and policies supporting manufacturing activities.
- Growth Potential: Mexico and Canada offer significant growth opportunities, driven by expanding manufacturing capacities and increasing industrial activity. The increasing demand for advanced materials in various industries presents a notable avenue for expansion.
North America Carbon Black Market Product Landscape
The North America carbon black market offers a diverse range of products, categorized by grade, surface area, and production method. Continuous innovations focus on developing specialty carbon blacks with improved properties like higher conductivity, reinforcement, and dispersion, enabling enhanced performance in various applications. These innovations cater to increasing demand for high-performance materials in automotive tires, advanced polymers, and high-quality inks.
Key Drivers, Barriers & Challenges in North America Carbon Black Market
Key Drivers: The primary drivers are the robust growth of the automotive industry, rising demand from the construction sector, and increasing applications in advanced materials. Favorable government policies promoting industrial development also contribute to market expansion.
Challenges & Restraints: The market faces challenges from stringent environmental regulations, increasing raw material costs, and intense competition. Supply chain disruptions, particularly those experienced recently, can significantly impact production and profitability. The estimated impact of these disruptions on market growth is estimated to be xx% in 2025.
Emerging Opportunities in North America Carbon Black Market
Emerging opportunities exist in the development of sustainable carbon black production methods, leveraging bio-based feedstocks and reducing environmental impact. The increasing use of carbon black in specialized applications, like conductive inks for electronics and high-performance plastics for aerospace, also presents significant growth prospects. Untapped markets in emerging economies within North America could also lead to market expansion.
Growth Accelerators in the North America Carbon Black Market Industry
Technological advancements in carbon black production, including improved efficiency and reduced emissions, will propel market growth. Strategic partnerships between carbon black producers and end-use industries to develop specialized grades for particular applications will also contribute to expansion. Furthermore, expansion into new geographic markets and applications, particularly within niche sectors, will create exciting growth opportunities.
Key Players Shaping the North America Carbon Black Market Market
- Birla Carbon
- Cabot Corporation
- Continental Carbon Company
- Imerys S A
- Koppers Inc
- Mitsubishi Chemical Corporation
- OMSK Carbon Group
- Orion Engineered Carbons
- Phillips Carbon Black Limited
- Pyrolyx AG
- Tokai Carbon Co Ltd
- List Not Exhaustive
Notable Milestones in North America Carbon Black Market Sector
- January 2023: Orion Engineered Carbons announced a USD 60 million investment to reduce emissions at its Borger, Texas plant, significantly improving air quality.
- December 2022: Continental Carbon Company closed its Phenix City, Alabama plant due to regulatory issues related to environmental remediation.
In-Depth North America Carbon Black Market Market Outlook
The North America carbon black market is poised for continued growth, driven by technological advancements, strategic partnerships, and increasing demand from key end-use industries. The focus on sustainable production methods and the development of specialized carbon blacks for high-performance applications will shape the market's future. Significant opportunities exist for companies that can leverage technological innovation and adapt to evolving regulatory landscapes. The market's long-term potential remains strong, promising substantial returns for investors and stakeholders.
North America Carbon Black Market Segmentation
-
1. Process Type
- 1.1. Furnace Black
- 1.2. Gas Black
- 1.3. Lamp Black
- 1.4. Thermal Black
-
2. Application
- 2.1. Tires and Industrial Rubber Products
- 2.2. Plastics
- 2.3. Toners and Printing Inks
- 2.4. Coatings
- 2.5. Textile Fibers
- 2.6. Other Applications
-
3. Geography
- 3.1. United States
- 3.2. Canada
- 3.3. Mexico
- 3.4. Rest of North America
North America Carbon Black Market Segmentation By Geography
- 1. United States
- 2. Canada
- 3. Mexico
- 4. Rest of North America

North America Carbon Black Market REPORT HIGHLIGHTS
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of > 2.50% from 2019-2033 |
Segmentation |
|
Table of Contents
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. Growing Tire Industry; Increasing Penetration of Specialty Carbon Black
- 3.3. Market Restrains
- 3.3.1. Growing Tire Industry; Increasing Penetration of Specialty Carbon Black
- 3.4. Market Trends
- 3.4.1. Increasing Usage in the Tire Industry
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. Global North America Carbon Black Market Analysis, Insights and Forecast, 2019-2031
- 5.1. Market Analysis, Insights and Forecast - by Process Type
- 5.1.1. Furnace Black
- 5.1.2. Gas Black
- 5.1.3. Lamp Black
- 5.1.4. Thermal Black
- 5.2. Market Analysis, Insights and Forecast - by Application
- 5.2.1. Tires and Industrial Rubber Products
- 5.2.2. Plastics
- 5.2.3. Toners and Printing Inks
- 5.2.4. Coatings
- 5.2.5. Textile Fibers
- 5.2.6. Other Applications
- 5.3. Market Analysis, Insights and Forecast - by Geography
- 5.3.1. United States
- 5.3.2. Canada
- 5.3.3. Mexico
- 5.3.4. Rest of North America
- 5.4. Market Analysis, Insights and Forecast - by Region
- 5.4.1. United States
- 5.4.2. Canada
- 5.4.3. Mexico
- 5.4.4. Rest of North America
- 5.1. Market Analysis, Insights and Forecast - by Process Type
- 6. United States North America Carbon Black Market Analysis, Insights and Forecast, 2019-2031
- 6.1. Market Analysis, Insights and Forecast - by Process Type
- 6.1.1. Furnace Black
- 6.1.2. Gas Black
- 6.1.3. Lamp Black
- 6.1.4. Thermal Black
- 6.2. Market Analysis, Insights and Forecast - by Application
- 6.2.1. Tires and Industrial Rubber Products
- 6.2.2. Plastics
- 6.2.3. Toners and Printing Inks
- 6.2.4. Coatings
- 6.2.5. Textile Fibers
- 6.2.6. Other Applications
- 6.3. Market Analysis, Insights and Forecast - by Geography
- 6.3.1. United States
- 6.3.2. Canada
- 6.3.3. Mexico
- 6.3.4. Rest of North America
- 6.1. Market Analysis, Insights and Forecast - by Process Type
- 7. Canada North America Carbon Black Market Analysis, Insights and Forecast, 2019-2031
- 7.1. Market Analysis, Insights and Forecast - by Process Type
- 7.1.1. Furnace Black
- 7.1.2. Gas Black
- 7.1.3. Lamp Black
- 7.1.4. Thermal Black
- 7.2. Market Analysis, Insights and Forecast - by Application
- 7.2.1. Tires and Industrial Rubber Products
- 7.2.2. Plastics
- 7.2.3. Toners and Printing Inks
- 7.2.4. Coatings
- 7.2.5. Textile Fibers
- 7.2.6. Other Applications
- 7.3. Market Analysis, Insights and Forecast - by Geography
- 7.3.1. United States
- 7.3.2. Canada
- 7.3.3. Mexico
- 7.3.4. Rest of North America
- 7.1. Market Analysis, Insights and Forecast - by Process Type
- 8. Mexico North America Carbon Black Market Analysis, Insights and Forecast, 2019-2031
- 8.1. Market Analysis, Insights and Forecast - by Process Type
- 8.1.1. Furnace Black
- 8.1.2. Gas Black
- 8.1.3. Lamp Black
- 8.1.4. Thermal Black
- 8.2. Market Analysis, Insights and Forecast - by Application
- 8.2.1. Tires and Industrial Rubber Products
- 8.2.2. Plastics
- 8.2.3. Toners and Printing Inks
- 8.2.4. Coatings
- 8.2.5. Textile Fibers
- 8.2.6. Other Applications
- 8.3. Market Analysis, Insights and Forecast - by Geography
- 8.3.1. United States
- 8.3.2. Canada
- 8.3.3. Mexico
- 8.3.4. Rest of North America
- 8.1. Market Analysis, Insights and Forecast - by Process Type
- 9. Rest of North America North America Carbon Black Market Analysis, Insights and Forecast, 2019-2031
- 9.1. Market Analysis, Insights and Forecast - by Process Type
- 9.1.1. Furnace Black
- 9.1.2. Gas Black
- 9.1.3. Lamp Black
- 9.1.4. Thermal Black
- 9.2. Market Analysis, Insights and Forecast - by Application
- 9.2.1. Tires and Industrial Rubber Products
- 9.2.2. Plastics
- 9.2.3. Toners and Printing Inks
- 9.2.4. Coatings
- 9.2.5. Textile Fibers
- 9.2.6. Other Applications
- 9.3. Market Analysis, Insights and Forecast - by Geography
- 9.3.1. United States
- 9.3.2. Canada
- 9.3.3. Mexico
- 9.3.4. Rest of North America
- 9.1. Market Analysis, Insights and Forecast - by Process Type
- 10. Competitive Analysis
- 10.1. Global Market Share Analysis 2024
- 10.2. Company Profiles
- 10.2.1 Birla Carbon
- 10.2.1.1. Overview
- 10.2.1.2. Products
- 10.2.1.3. SWOT Analysis
- 10.2.1.4. Recent Developments
- 10.2.1.5. Financials (Based on Availability)
- 10.2.2 Cabot Corporation
- 10.2.2.1. Overview
- 10.2.2.2. Products
- 10.2.2.3. SWOT Analysis
- 10.2.2.4. Recent Developments
- 10.2.2.5. Financials (Based on Availability)
- 10.2.3 Continental Carbon Company
- 10.2.3.1. Overview
- 10.2.3.2. Products
- 10.2.3.3. SWOT Analysis
- 10.2.3.4. Recent Developments
- 10.2.3.5. Financials (Based on Availability)
- 10.2.4 Imerys S A
- 10.2.4.1. Overview
- 10.2.4.2. Products
- 10.2.4.3. SWOT Analysis
- 10.2.4.4. Recent Developments
- 10.2.4.5. Financials (Based on Availability)
- 10.2.5 Koppers Inc
- 10.2.5.1. Overview
- 10.2.5.2. Products
- 10.2.5.3. SWOT Analysis
- 10.2.5.4. Recent Developments
- 10.2.5.5. Financials (Based on Availability)
- 10.2.6 Mitsubishi Chemical Corporation
- 10.2.6.1. Overview
- 10.2.6.2. Products
- 10.2.6.3. SWOT Analysis
- 10.2.6.4. Recent Developments
- 10.2.6.5. Financials (Based on Availability)
- 10.2.7 OMSK Carbon Group
- 10.2.7.1. Overview
- 10.2.7.2. Products
- 10.2.7.3. SWOT Analysis
- 10.2.7.4. Recent Developments
- 10.2.7.5. Financials (Based on Availability)
- 10.2.8 Orion Engineered Carbons
- 10.2.8.1. Overview
- 10.2.8.2. Products
- 10.2.8.3. SWOT Analysis
- 10.2.8.4. Recent Developments
- 10.2.8.5. Financials (Based on Availability)
- 10.2.9 Phillips Carbon Black Limited
- 10.2.9.1. Overview
- 10.2.9.2. Products
- 10.2.9.3. SWOT Analysis
- 10.2.9.4. Recent Developments
- 10.2.9.5. Financials (Based on Availability)
- 10.2.10 Pyrolyx AG
- 10.2.10.1. Overview
- 10.2.10.2. Products
- 10.2.10.3. SWOT Analysis
- 10.2.10.4. Recent Developments
- 10.2.10.5. Financials (Based on Availability)
- 10.2.11 Tokai Carbon Co Ltd *List Not Exhaustive
- 10.2.11.1. Overview
- 10.2.11.2. Products
- 10.2.11.3. SWOT Analysis
- 10.2.11.4. Recent Developments
- 10.2.11.5. Financials (Based on Availability)
- 10.2.1 Birla Carbon
List of Figures
- Figure 1: Global North America Carbon Black Market Revenue Breakdown (Million, %) by Region 2024 & 2032
- Figure 2: United States North America Carbon Black Market Revenue (Million), by Process Type 2024 & 2032
- Figure 3: United States North America Carbon Black Market Revenue Share (%), by Process Type 2024 & 2032
- Figure 4: United States North America Carbon Black Market Revenue (Million), by Application 2024 & 2032
- Figure 5: United States North America Carbon Black Market Revenue Share (%), by Application 2024 & 2032
- Figure 6: United States North America Carbon Black Market Revenue (Million), by Geography 2024 & 2032
- Figure 7: United States North America Carbon Black Market Revenue Share (%), by Geography 2024 & 2032
- Figure 8: United States North America Carbon Black Market Revenue (Million), by Country 2024 & 2032
- Figure 9: United States North America Carbon Black Market Revenue Share (%), by Country 2024 & 2032
- Figure 10: Canada North America Carbon Black Market Revenue (Million), by Process Type 2024 & 2032
- Figure 11: Canada North America Carbon Black Market Revenue Share (%), by Process Type 2024 & 2032
- Figure 12: Canada North America Carbon Black Market Revenue (Million), by Application 2024 & 2032
- Figure 13: Canada North America Carbon Black Market Revenue Share (%), by Application 2024 & 2032
- Figure 14: Canada North America Carbon Black Market Revenue (Million), by Geography 2024 & 2032
- Figure 15: Canada North America Carbon Black Market Revenue Share (%), by Geography 2024 & 2032
- Figure 16: Canada North America Carbon Black Market Revenue (Million), by Country 2024 & 2032
- Figure 17: Canada North America Carbon Black Market Revenue Share (%), by Country 2024 & 2032
- Figure 18: Mexico North America Carbon Black Market Revenue (Million), by Process Type 2024 & 2032
- Figure 19: Mexico North America Carbon Black Market Revenue Share (%), by Process Type 2024 & 2032
- Figure 20: Mexico North America Carbon Black Market Revenue (Million), by Application 2024 & 2032
- Figure 21: Mexico North America Carbon Black Market Revenue Share (%), by Application 2024 & 2032
- Figure 22: Mexico North America Carbon Black Market Revenue (Million), by Geography 2024 & 2032
- Figure 23: Mexico North America Carbon Black Market Revenue Share (%), by Geography 2024 & 2032
- Figure 24: Mexico North America Carbon Black Market Revenue (Million), by Country 2024 & 2032
- Figure 25: Mexico North America Carbon Black Market Revenue Share (%), by Country 2024 & 2032
- Figure 26: Rest of North America North America Carbon Black Market Revenue (Million), by Process Type 2024 & 2032
- Figure 27: Rest of North America North America Carbon Black Market Revenue Share (%), by Process Type 2024 & 2032
- Figure 28: Rest of North America North America Carbon Black Market Revenue (Million), by Application 2024 & 2032
- Figure 29: Rest of North America North America Carbon Black Market Revenue Share (%), by Application 2024 & 2032
- Figure 30: Rest of North America North America Carbon Black Market Revenue (Million), by Geography 2024 & 2032
- Figure 31: Rest of North America North America Carbon Black Market Revenue Share (%), by Geography 2024 & 2032
- Figure 32: Rest of North America North America Carbon Black Market Revenue (Million), by Country 2024 & 2032
- Figure 33: Rest of North America North America Carbon Black Market Revenue Share (%), by Country 2024 & 2032
List of Tables
- Table 1: Global North America Carbon Black Market Revenue Million Forecast, by Region 2019 & 2032
- Table 2: Global North America Carbon Black Market Revenue Million Forecast, by Process Type 2019 & 2032
- Table 3: Global North America Carbon Black Market Revenue Million Forecast, by Application 2019 & 2032
- Table 4: Global North America Carbon Black Market Revenue Million Forecast, by Geography 2019 & 2032
- Table 5: Global North America Carbon Black Market Revenue Million Forecast, by Region 2019 & 2032
- Table 6: Global North America Carbon Black Market Revenue Million Forecast, by Process Type 2019 & 2032
- Table 7: Global North America Carbon Black Market Revenue Million Forecast, by Application 2019 & 2032
- Table 8: Global North America Carbon Black Market Revenue Million Forecast, by Geography 2019 & 2032
- Table 9: Global North America Carbon Black Market Revenue Million Forecast, by Country 2019 & 2032
- Table 10: Global North America Carbon Black Market Revenue Million Forecast, by Process Type 2019 & 2032
- Table 11: Global North America Carbon Black Market Revenue Million Forecast, by Application 2019 & 2032
- Table 12: Global North America Carbon Black Market Revenue Million Forecast, by Geography 2019 & 2032
- Table 13: Global North America Carbon Black Market Revenue Million Forecast, by Country 2019 & 2032
- Table 14: Global North America Carbon Black Market Revenue Million Forecast, by Process Type 2019 & 2032
- Table 15: Global North America Carbon Black Market Revenue Million Forecast, by Application 2019 & 2032
- Table 16: Global North America Carbon Black Market Revenue Million Forecast, by Geography 2019 & 2032
- Table 17: Global North America Carbon Black Market Revenue Million Forecast, by Country 2019 & 2032
- Table 18: Global North America Carbon Black Market Revenue Million Forecast, by Process Type 2019 & 2032
- Table 19: Global North America Carbon Black Market Revenue Million Forecast, by Application 2019 & 2032
- Table 20: Global North America Carbon Black Market Revenue Million Forecast, by Geography 2019 & 2032
- Table 21: Global North America Carbon Black Market Revenue Million Forecast, by Country 2019 & 2032
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the North America Carbon Black Market?
The projected CAGR is approximately > 2.50%.
2. Which companies are prominent players in the North America Carbon Black Market?
Key companies in the market include Birla Carbon, Cabot Corporation, Continental Carbon Company, Imerys S A, Koppers Inc, Mitsubishi Chemical Corporation, OMSK Carbon Group, Orion Engineered Carbons, Phillips Carbon Black Limited, Pyrolyx AG, Tokai Carbon Co Ltd *List Not Exhaustive.
3. What are the main segments of the North America Carbon Black Market?
The market segments include Process Type , Application, Geography.
4. Can you provide details about the market size?
The market size is estimated to be USD XX Million as of 2022.
5. What are some drivers contributing to market growth?
Growing Tire Industry; Increasing Penetration of Specialty Carbon Black.
6. What are the notable trends driving market growth?
Increasing Usage in the Tire Industry.
7. Are there any restraints impacting market growth?
Growing Tire Industry; Increasing Penetration of Specialty Carbon Black.
8. Can you provide examples of recent developments in the market?
January 2023: Orion Engineered Carbons announced an investment of USD 60 million for reducing the emissions of its carbon black production plant in Borger, Texas, the United States. By installing a new emissions reduction technology in its carbon black production facility, the company aims to improve the surrounding air quality by eliminating nearly 23 tons (or 90%) of the sulfur dioxide and nitrogen oxide emissions produced by the black carbon plant every day.
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4750, USD 5250, and USD 8750 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in Million.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "North America Carbon Black Market," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the North America Carbon Black Market report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the North America Carbon Black Market?
To stay informed about further developments, trends, and reports in the North America Carbon Black Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database



Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations

Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence