LONDON--(BUSINESS WIRE)--Global procurement market intelligence advisory firm, SpendEdge, has announced the release of their ‘Base Oil Procurement Research Report.' The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the chemicals industry. This report breaks down the data and analysis behind the procurement of base oil and acts as an all-inclusive guide for making smart purchasing decisions.
“The increased demand for hydraulic fluids with high viscosity index is compelling manufacturers of hydraulic fluids to use Group II and III base oils,” says SpendEdge procurement research analyst Anil Seth. “This is increasing the demand for base oils from the hydraulic fluids market,” added Anil.
Key Report Features
|Supply Market Insights||Negotiation Strategies|
|Procurement Best Practices||Category Risk Analysis|
|Cost Saving Opportunities||Key Supplier Analysis|
|Pricing Models||Supplier Capability Matrix|
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- Strict emission controls for automobiles and preference for better fuels to improve the performance of vehicles are driving the demand for finished lubricants, which is leading to the growth of the global base oil market.
- Purchasing managers must collaborate with suppliers that adopt sustainability practices such as the use of renewable raw materials in the manufacture of base oils while procuring feedstocks. This helps buyers meet their sustainability goals.
- Purchasing managers must evaluate the capacity utilization of suppliers and availability of open capacities. Optimum capacity utilization rates will minimize chances of late deliveries, and open capacities will provide purchasing managers the assurance that suppliers can meet their additional requirements during periods of peak demand.
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Base Oil Pricing Trends
The spot pricing and volume-based pricing are the two most widely accepted pricing models in the base oil market. The spot pricing model helps purchasing managers gain benefits of a sudden drop in prices of raw materials and procure in varying quantities depending on requirement. However, volume-based pricing helps purchasing managers stabilize their operating budgets by allowing them to estimate annual costs of raw materials. Moreover, it helps them to buyers to estimate their operating costs for a fiscal year, which helps end-user industries fix the market prices for their products.
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