LONDON--(BUSINESS WIRE)--According to the latest procurement intelligence report from Technavio, the global TiO2 market is expected to grow at a CAGR of 4.2% over the next five years due to the growth of end-use industries such as paints and coatings, plastics, and paper that utilize TiO2 to enhance the quality of their products.
The research report titled ‘Global TiO2 Market: Procurement Intelligence Report 2017-2021’ provides an in-depth analysis of category spend, best procurement practices and cost saving opportunities, aimed at helping organizations achieve superior business performance. The report also provides insights on pricing, supplier positioning and top companies, enabling sourcing professionals to improve their competitive advantage through procurement excellence.
“The TiO2 industry is highly dependent on seasonal demand from end-use segments. For instance, the demand from segments such as sun care products and paints and coatings, which are major end-users of TiO2, is usually high in the second and third quarters of the year, moderate in the fourth quarter, and very low in the first quarter,” says Angad Singh, lead procurement specialist at Technavio for category spend intelligence research.
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Cost saving opportunities in the TiO2 market
The adoption of various cost optimization levers helps buyers of TiO2 realize cost savings and achieve category management and value benefits (including a reduction in procurement complexities).
Technavio procurement experts have segmented the cost saving opportunities in the TiO2 market into the following value-enhancement opportunities:
- Adoption of technology
- Supplier Competition
- Adoption of negotiation strategies
- Optimization of procurement practices
- Bundling of services
Adoption of technology saving aspects
Solvent extraction technology uses organic solvents to convert the metal into organic metal complex, and then the metal impurities are removed to obtain TiO2.
One coat solutions are TiO2 containing solutions that have higher light scattering capabilities, which increase the hiding power of these solutions. Though TiO2 has light scattering properties by nature, it can be enhanced by elimination of crowding of TiO2 particles.
Optimization of procurement practices saving aspects
It is necessary for buyers to engage with suppliers capable of offering a wide range of packaging options, as this will enable access to appropriate solutions that can ensure safety and quality of TiO2 products during transportation and storage.
Transportation costs are a major component of the final product cost. Therefore, to achieve savings, buyers should focus on engaging with suppliers that can provide cost-effective transportation of TiO2.
Bundling of services saving aspects
As TiO2 has been classified as a potential carcinogen, it is necessary for buyers to implement workplace safety standards and increase workers’ level of awareness regarding its safe usage. Therefore, buyers must look to engage with suppliers that can provide on-site training for their employees on the safe and proper use of TiO2.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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