Different specialist research studies can throw up wild inconsistencies, as demonstrated by several that cover the global FEC business.
On Friday we reported that one research company, Wise Guys Research Consultants, had suggested in a recent market report that the global FEC market would register a 12 per cent compound annual growth of revenue to US$14.6bn by 2025. Turnover in 2019 had reached $9.3bn, it said.
However, two other studies come up with vastly different computations. TechSci Research said that the global FEC market stood at $18.7bn in 2018, twice that of Wise Guys - and a year earlier. TechSci said that the market would grow at CAGR of 10.93 percent in the 2019-2024 period to reach $36.4bn by 2024, more than double that predicted by Wise Guys.
Allied Market Research also quoted the $18.7bn figure for the size of the market but in 2017, rather than 2018, and the figure for 2025 would reach $40.814bn and a growth-rate of 10.2 per cent.
It is for the industry to decide who to believe.
