Key Insights
The expandable graphite market, valued at approximately $XX million in 2025, is projected to experience robust growth, exhibiting a compound annual growth rate (CAGR) of 7.64% from 2025 to 2033. This expansion is driven by increasing demand from diverse end-use sectors, particularly the automotive industry (for lightweighting applications in batteries and seals), the energy sector (in advanced battery technologies and thermal management systems), and the packaging industry (for fire-retardant materials). Technological advancements focused on enhancing the properties of expandable graphite, like improving its expansion ratio and thermal conductivity, further fuel market growth. Furthermore, the rising focus on sustainable and eco-friendly materials across industries is bolstering the adoption of expandable graphite as a viable alternative to traditional materials. However, price fluctuations in raw graphite materials and potential environmental concerns associated with graphite mining pose challenges to market growth. Leading players like GrafTech International Ltd, SGL Carbon, and NeoGraf Solutions are actively involved in expanding their production capacities and research & development efforts to cater to the rising demand and address these challenges. The market is segmented based on various factors, including type, application, and region, with regional variations in growth rate influenced by factors like industrial development, government policies, and regional demand patterns.
Expandable Graphite Market Market Size (In Billion)
The forecast period (2025-2033) is expected to witness significant geographical diversification, with regions like Asia-Pacific exhibiting relatively faster growth compared to others. This is attributable to rapid industrialization and significant investments in battery manufacturing and renewable energy technologies in several Asian countries. Competitive dynamics are shaping up, with companies focusing on strategic partnerships, acquisitions, and product innovation to maintain their market share. Companies are also focusing on improving the sustainability and circularity of their graphite production processes to address growing environmental concerns. The market’s future success depends heavily on continued innovation in graphite-based products, coupled with sustainable manufacturing practices and proactive addressal of regulatory hurdles. This will ensure the industry continues its trajectory of consistent growth over the forecast period.
Expandable Graphite Market Company Market Share
Expandable Graphite Market: A Comprehensive Report (2019-2033)
This comprehensive report provides an in-depth analysis of the global Expandable Graphite market, offering invaluable insights for stakeholders across the value chain. Covering the historical period (2019-2024), base year (2025), and forecast period (2025-2033), this study meticulously examines market dynamics, competitive landscapes, and future growth potential. The report's detailed segmentation and analysis are crucial for informed decision-making and strategic planning within the expandable graphite industry. The total market size is estimated at xx Million in 2025 and is projected to reach xx Million by 2033, exhibiting a CAGR of xx%.
Expandable Graphite Market Structure & Competitive Dynamics
The Expandable Graphite market exhibits a moderately consolidated structure, with a few key players holding significant market share. Market concentration is influenced by factors such as economies of scale in production, access to raw materials, and technological advancements. Innovation within the sector is driven by research into enhanced graphite properties, improved processing techniques, and the development of novel applications. Regulatory frameworks, particularly those concerning environmental sustainability and worker safety, play a significant role in shaping market dynamics. Product substitutes, such as other sealing materials and fillers, pose a competitive challenge, although expandable graphite's unique properties often maintain its preference in specific applications. End-user trends, particularly in automotive and energy storage, significantly impact market demand. M&A activities have been relatively frequent, with deal values ranging from xx Million to xx Million in recent years, reflecting the industry's consolidation and expansion efforts. Key players' market share fluctuates; for instance, GrafTech International Ltd. might hold approximately xx% in 2025, while SGL Carbon could command around xx%.
Expandable Graphite Market Industry Trends & Insights
The Expandable Graphite market is experiencing robust growth, propelled by several key factors. The increasing demand from the automotive industry, particularly for sealing applications and lightweight components, is a major driver. The expanding renewable energy sector, especially the growth of lithium-ion batteries, significantly boosts the demand for expandable graphite as an essential component. Technological advancements, focusing on enhancing the material's properties for specific applications, further contribute to market expansion. Consumer preferences for environmentally friendly and high-performance materials positively impact market growth. Competitive dynamics are characterized by innovation, strategic partnerships, and capacity expansions. The market is expected to experience a CAGR of xx% during the forecast period, with market penetration increasing significantly in developing economies. Technological disruptions, like the development of alternative battery technologies, may present both opportunities and challenges.
Dominant Markets & Segments in Expandable Graphite Market
The Asia-Pacific region, particularly China, dominates the expandable graphite market, driven by robust industrial growth, a large manufacturing base, and significant investments in renewable energy infrastructure.
- Key Drivers in Asia-Pacific:
- Strong economic growth and industrialization.
- Rapid expansion of the automotive and electronics sectors.
- Government support for renewable energy initiatives.
- Abundant availability of raw materials.
The dominance of the Asia-Pacific region is attributable to its significant manufacturing capacity, relatively lower production costs, and burgeoning demand for expandable graphite across various end-use sectors. While other regions, such as North America and Europe, exhibit notable market presence, the scale of manufacturing and consumption within Asia-Pacific solidifies its leading position. Future growth potential is anticipated across all regions, however, driven by the expansion of existing applications and the emergence of new ones.
Expandable Graphite Market Product Innovations
Recent innovations in expandable graphite focus on enhancing its thermal and electrical conductivity, improving its compatibility with various matrices, and tailoring its properties for specific applications. These advancements expand its use in high-performance seals, thermal management systems, and advanced battery technologies. Competitive advantages are gained through proprietary manufacturing processes, optimized material formulations, and superior performance characteristics, leading to increased market share and premium pricing. The ongoing exploration of novel applications drives further product development and market expansion.
Report Segmentation & Scope
This report segments the expandable graphite market based on several key parameters:
- By Type: Natural expandable graphite and synthetic expandable graphite, each exhibiting unique properties and applications. The market size for natural expandable graphite is anticipated to be xx Million in 2025, while synthetic is estimated at xx Million.
- By Application: Seals & Gaskets, Battery Anodes, Fire Retardants, and other specialized applications, with distinct growth trajectories based on market demand. The seals and gaskets segment is projected to dominate with a market share of xx% in 2025.
- By Region: North America, Europe, Asia-Pacific, South America, and the Middle East & Africa, each demonstrating unique market dynamics and growth potential.
Key Drivers of Expandable Graphite Market Growth
Several factors drive the growth of the expandable graphite market. Technological advancements leading to improved material properties and expanded applications are crucial. The increasing demand from the automotive sector, especially for lightweight and fuel-efficient vehicles, is a major driver. The surging renewable energy sector, with its reliance on expandable graphite in battery production, also boosts demand. Favorable government policies promoting sustainable technologies and investments in infrastructure further contribute to market expansion.
Challenges in the Expandable Graphite Market Sector
The Expandable Graphite market faces challenges such as fluctuating raw material prices, potential supply chain disruptions, and intense competition among existing and new market entrants. Environmental regulations related to graphite mining and processing pose additional hurdles. The development of alternative materials and technologies might impact market growth, requiring continuous innovation and adaptation by market players.
Leading Players in the Expandable Graphite Market
- GrafTech International Ltd.
- Nacional de Grafite
- NeoGraf Solution
- Northern Graphite
- Qingdao Black Dragon Graphite Group
- Qingdao Jinhui Graphite Co Ltd
- Qingdao YanXin Graphite Products Co LTD
- Sanyo Corporation
- SGL Carbon
- Shijiazhuang ADT Carbonic Material Factory
- Yichang Xincheng Graphite Co Ltd
- List Not Exhaustive
Key Developments in Expandable Graphite Market Sector
- July 2022: BlackEarth Minerals (BEM) and Metachem plan an expandable coarse flake graphite processing plant in Pune, India, with completion expected in early 2023. This significantly expands processing capacity and supply in a key region.
- May 2022: Nordmann and Shijiazhuang ADT Carbonic Material Factory establish a strategic partnership, expanding product portfolios and geographic reach in Europe and China. This collaboration enhances market access and strengthens competitive positioning.
Strategic Expandable Graphite Market Outlook
The expandable graphite market exhibits substantial growth potential, fueled by continued technological advancements, escalating demand from key industries like automotive and energy storage, and supportive government policies. Strategic opportunities lie in developing innovative applications, optimizing production processes, and securing sustainable raw material supplies. Companies focusing on research and development, strategic partnerships, and geographical expansion are well-positioned to capitalize on future market growth.
Expandable Graphite Market Segmentation
-
1. Applications
- 1.1. Flame Retardant
- 1.2. Flexible Foils
- 1.3. Conductive Additives
- 1.4. Metallurgy
- 1.5. Graphene
Expandable Graphite Market Segmentation By Geography
-
1. Asia Pacific
- 1.1. China
- 1.2. India
- 1.3. Japan
- 1.4. South Korea
- 1.5. Rest of Asia Pacific
-
2. North America
- 2.1. United States
- 2.2. Canada
- 2.3. Mexico
-
3. Europe
- 3.1. Germany
- 3.2. United Kingdom
- 3.3. France
- 3.4. Italy
- 3.5. Rest of Europe
-
4. South America
- 4.1. Brazil
- 4.2. Argentina
- 4.3. Rest of South America
-
5. Middle East and Africa
- 5.1. South Africa
- 5.2. Saudi Arabia
- 5.3. Rest of Middle East and Africa
Expandable Graphite Market Regional Market Share
Geographic Coverage of Expandable Graphite Market
Expandable Graphite Market REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 7.64% from 2020-2034 |
| 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. Increasing Adoption of Expandable Graphite as a Flame Retardant; Increasing Demand for Non-Halogenated Flame Retardants
- 3.3. Market Restrains
- 3.3.1. Increasing Adoption of Expandable Graphite as a Flame Retardant; Increasing Demand for Non-Halogenated Flame Retardants
- 3.4. Market Trends
- 3.4.1. The Flame Retardant Segment is Anticipated to Hold a Significant Share
- 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 Expandable Graphite Market Analysis, Insights and Forecast, 2020-2032
- 5.1. Market Analysis, Insights and Forecast - by Applications
- 5.1.1. Flame Retardant
- 5.1.2. Flexible Foils
- 5.1.3. Conductive Additives
- 5.1.4. Metallurgy
- 5.1.5. Graphene
- 5.2. Market Analysis, Insights and Forecast - by Region
- 5.2.1. Asia Pacific
- 5.2.2. North America
- 5.2.3. Europe
- 5.2.4. South America
- 5.2.5. Middle East and Africa
- 5.1. Market Analysis, Insights and Forecast - by Applications
- 6. Asia Pacific Expandable Graphite Market Analysis, Insights and Forecast, 2020-2032
- 6.1. Market Analysis, Insights and Forecast - by Applications
- 6.1.1. Flame Retardant
- 6.1.2. Flexible Foils
- 6.1.3. Conductive Additives
- 6.1.4. Metallurgy
- 6.1.5. Graphene
- 6.1. Market Analysis, Insights and Forecast - by Applications
- 7. North America Expandable Graphite Market Analysis, Insights and Forecast, 2020-2032
- 7.1. Market Analysis, Insights and Forecast - by Applications
- 7.1.1. Flame Retardant
- 7.1.2. Flexible Foils
- 7.1.3. Conductive Additives
- 7.1.4. Metallurgy
- 7.1.5. Graphene
- 7.1. Market Analysis, Insights and Forecast - by Applications
- 8. Europe Expandable Graphite Market Analysis, Insights and Forecast, 2020-2032
- 8.1. Market Analysis, Insights and Forecast - by Applications
- 8.1.1. Flame Retardant
- 8.1.2. Flexible Foils
- 8.1.3. Conductive Additives
- 8.1.4. Metallurgy
- 8.1.5. Graphene
- 8.1. Market Analysis, Insights and Forecast - by Applications
- 9. South America Expandable Graphite Market Analysis, Insights and Forecast, 2020-2032
- 9.1. Market Analysis, Insights and Forecast - by Applications
- 9.1.1. Flame Retardant
- 9.1.2. Flexible Foils
- 9.1.3. Conductive Additives
- 9.1.4. Metallurgy
- 9.1.5. Graphene
- 9.1. Market Analysis, Insights and Forecast - by Applications
- 10. Middle East and Africa Expandable Graphite Market Analysis, Insights and Forecast, 2020-2032
- 10.1. Market Analysis, Insights and Forecast - by Applications
- 10.1.1. Flame Retardant
- 10.1.2. Flexible Foils
- 10.1.3. Conductive Additives
- 10.1.4. Metallurgy
- 10.1.5. Graphene
- 10.1. Market Analysis, Insights and Forecast - by Applications
- 11. Competitive Analysis
- 11.1. Global Market Share Analysis 2025
- 11.2. Company Profiles
- 11.2.1 GrafTech International Ltd
- 11.2.1.1. Overview
- 11.2.1.2. Products
- 11.2.1.3. SWOT Analysis
- 11.2.1.4. Recent Developments
- 11.2.1.5. Financials (Based on Availability)
- 11.2.2 Nacional de Grafite
- 11.2.2.1. Overview
- 11.2.2.2. Products
- 11.2.2.3. SWOT Analysis
- 11.2.2.4. Recent Developments
- 11.2.2.5. Financials (Based on Availability)
- 11.2.3 NeoGraf Solution
- 11.2.3.1. Overview
- 11.2.3.2. Products
- 11.2.3.3. SWOT Analysis
- 11.2.3.4. Recent Developments
- 11.2.3.5. Financials (Based on Availability)
- 11.2.4 Northern Graphite
- 11.2.4.1. Overview
- 11.2.4.2. Products
- 11.2.4.3. SWOT Analysis
- 11.2.4.4. Recent Developments
- 11.2.4.5. Financials (Based on Availability)
- 11.2.5 Qingdao Black Dragon Graphite Group
- 11.2.5.1. Overview
- 11.2.5.2. Products
- 11.2.5.3. SWOT Analysis
- 11.2.5.4. Recent Developments
- 11.2.5.5. Financials (Based on Availability)
- 11.2.6 Qingdao Jinhui Graphite Co Ltd
- 11.2.6.1. Overview
- 11.2.6.2. Products
- 11.2.6.3. SWOT Analysis
- 11.2.6.4. Recent Developments
- 11.2.6.5. Financials (Based on Availability)
- 11.2.7 Qingdao YanXin Graphite Products Co LTD
- 11.2.7.1. Overview
- 11.2.7.2. Products
- 11.2.7.3. SWOT Analysis
- 11.2.7.4. Recent Developments
- 11.2.7.5. Financials (Based on Availability)
- 11.2.8 Sanyo Corporation
- 11.2.8.1. Overview
- 11.2.8.2. Products
- 11.2.8.3. SWOT Analysis
- 11.2.8.4. Recent Developments
- 11.2.8.5. Financials (Based on Availability)
- 11.2.9 SGL Carbon
- 11.2.9.1. Overview
- 11.2.9.2. Products
- 11.2.9.3. SWOT Analysis
- 11.2.9.4. Recent Developments
- 11.2.9.5. Financials (Based on Availability)
- 11.2.10 Shijiazhuang ADT Carbonic Material Factory
- 11.2.10.1. Overview
- 11.2.10.2. Products
- 11.2.10.3. SWOT Analysis
- 11.2.10.4. Recent Developments
- 11.2.10.5. Financials (Based on Availability)
- 11.2.11 Yichang Xincheng Graphite Co Ltd *List Not Exhaustive
- 11.2.11.1. Overview
- 11.2.11.2. Products
- 11.2.11.3. SWOT Analysis
- 11.2.11.4. Recent Developments
- 11.2.11.5. Financials (Based on Availability)
- 11.2.1 GrafTech International Ltd
List of Figures
- Figure 1: Global Expandable Graphite Market Revenue Breakdown (Million, %) by Region 2025 & 2033
- Figure 2: Asia Pacific Expandable Graphite Market Revenue (Million), by Applications 2025 & 2033
- Figure 3: Asia Pacific Expandable Graphite Market Revenue Share (%), by Applications 2025 & 2033
- Figure 4: Asia Pacific Expandable Graphite Market Revenue (Million), by Country 2025 & 2033
- Figure 5: Asia Pacific Expandable Graphite Market Revenue Share (%), by Country 2025 & 2033
- Figure 6: North America Expandable Graphite Market Revenue (Million), by Applications 2025 & 2033
- Figure 7: North America Expandable Graphite Market Revenue Share (%), by Applications 2025 & 2033
- Figure 8: North America Expandable Graphite Market Revenue (Million), by Country 2025 & 2033
- Figure 9: North America Expandable Graphite Market Revenue Share (%), by Country 2025 & 2033
- Figure 10: Europe Expandable Graphite Market Revenue (Million), by Applications 2025 & 2033
- Figure 11: Europe Expandable Graphite Market Revenue Share (%), by Applications 2025 & 2033
- Figure 12: Europe Expandable Graphite Market Revenue (Million), by Country 2025 & 2033
- Figure 13: Europe Expandable Graphite Market Revenue Share (%), by Country 2025 & 2033
- Figure 14: South America Expandable Graphite Market Revenue (Million), by Applications 2025 & 2033
- Figure 15: South America Expandable Graphite Market Revenue Share (%), by Applications 2025 & 2033
- Figure 16: South America Expandable Graphite Market Revenue (Million), by Country 2025 & 2033
- Figure 17: South America Expandable Graphite Market Revenue Share (%), by Country 2025 & 2033
- Figure 18: Middle East and Africa Expandable Graphite Market Revenue (Million), by Applications 2025 & 2033
- Figure 19: Middle East and Africa Expandable Graphite Market Revenue Share (%), by Applications 2025 & 2033
- Figure 20: Middle East and Africa Expandable Graphite Market Revenue (Million), by Country 2025 & 2033
- Figure 21: Middle East and Africa Expandable Graphite Market Revenue Share (%), by Country 2025 & 2033
List of Tables
- Table 1: Global Expandable Graphite Market Revenue Million Forecast, by Applications 2020 & 2033
- Table 2: Global Expandable Graphite Market Revenue Million Forecast, by Region 2020 & 2033
- Table 3: Global Expandable Graphite Market Revenue Million Forecast, by Applications 2020 & 2033
- Table 4: Global Expandable Graphite Market Revenue Million Forecast, by Country 2020 & 2033
- Table 5: China Expandable Graphite Market Revenue (Million) Forecast, by Application 2020 & 2033
- Table 6: India Expandable Graphite Market Revenue (Million) Forecast, by Application 2020 & 2033
- Table 7: Japan Expandable Graphite Market Revenue (Million) Forecast, by Application 2020 & 2033
- Table 8: South Korea Expandable Graphite Market Revenue (Million) Forecast, by Application 2020 & 2033
- Table 9: Rest of Asia Pacific Expandable Graphite Market Revenue (Million) Forecast, by Application 2020 & 2033
- Table 10: Global Expandable Graphite Market Revenue Million Forecast, by Applications 2020 & 2033
- Table 11: Global Expandable Graphite Market Revenue Million Forecast, by Country 2020 & 2033
- Table 12: United States Expandable Graphite Market Revenue (Million) Forecast, by Application 2020 & 2033
- Table 13: Canada Expandable Graphite Market Revenue (Million) Forecast, by Application 2020 & 2033
- Table 14: Mexico Expandable Graphite Market Revenue (Million) Forecast, by Application 2020 & 2033
- Table 15: Global Expandable Graphite Market Revenue Million Forecast, by Applications 2020 & 2033
- Table 16: Global Expandable Graphite Market Revenue Million Forecast, by Country 2020 & 2033
- Table 17: Germany Expandable Graphite Market Revenue (Million) Forecast, by Application 2020 & 2033
- Table 18: United Kingdom Expandable Graphite Market Revenue (Million) Forecast, by Application 2020 & 2033
- Table 19: France Expandable Graphite Market Revenue (Million) Forecast, by Application 2020 & 2033
- Table 20: Italy Expandable Graphite Market Revenue (Million) Forecast, by Application 2020 & 2033
- Table 21: Rest of Europe Expandable Graphite Market Revenue (Million) Forecast, by Application 2020 & 2033
- Table 22: Global Expandable Graphite Market Revenue Million Forecast, by Applications 2020 & 2033
- Table 23: Global Expandable Graphite Market Revenue Million Forecast, by Country 2020 & 2033
- Table 24: Brazil Expandable Graphite Market Revenue (Million) Forecast, by Application 2020 & 2033
- Table 25: Argentina Expandable Graphite Market Revenue (Million) Forecast, by Application 2020 & 2033
- Table 26: Rest of South America Expandable Graphite Market Revenue (Million) Forecast, by Application 2020 & 2033
- Table 27: Global Expandable Graphite Market Revenue Million Forecast, by Applications 2020 & 2033
- Table 28: Global Expandable Graphite Market Revenue Million Forecast, by Country 2020 & 2033
- Table 29: South Africa Expandable Graphite Market Revenue (Million) Forecast, by Application 2020 & 2033
- Table 30: Saudi Arabia Expandable Graphite Market Revenue (Million) Forecast, by Application 2020 & 2033
- Table 31: Rest of Middle East and Africa Expandable Graphite Market Revenue (Million) Forecast, by Application 2020 & 2033
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the Expandable Graphite Market?
The projected CAGR is approximately 7.64%.
2. Which companies are prominent players in the Expandable Graphite Market?
Key companies in the market include GrafTech International Ltd, Nacional de Grafite, NeoGraf Solution, Northern Graphite, Qingdao Black Dragon Graphite Group, Qingdao Jinhui Graphite Co Ltd, Qingdao YanXin Graphite Products Co LTD, Sanyo Corporation, SGL Carbon, Shijiazhuang ADT Carbonic Material Factory, Yichang Xincheng Graphite Co Ltd *List Not Exhaustive.
3. What are the main segments of the Expandable Graphite Market?
The market segments include Applications.
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?
Increasing Adoption of Expandable Graphite as a Flame Retardant; Increasing Demand for Non-Halogenated Flame Retardants.
6. What are the notable trends driving market growth?
The Flame Retardant Segment is Anticipated to Hold a Significant Share.
7. Are there any restraints impacting market growth?
Increasing Adoption of Expandable Graphite as a Flame Retardant; Increasing Demand for Non-Halogenated Flame Retardants.
8. Can you provide examples of recent developments in the market?
In July 2022, BlackEarth Minerals (BEM), in partnership with Metachem, planned to develop BEM's proposed expandable coarse flake graphite processing plant in India's Pune region. This site construction was expected to be completed in early 2023.
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 "Expandable Graphite 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 Expandable Graphite 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 Expandable Graphite Market?
To stay informed about further developments, trends, and reports in the Expandable Graphite 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