LONDON--(BUSINESS WIRE)--Global procurement market intelligence advisory firm, SpendEdge, has announced the release of their ‘Toluene 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 toluene and acts as an all-inclusive guide for making smart purchasing decisions.
“Toluene is extensively used as an octane booster in gasoline, and it is driving the global toluene market as consumption of gasoline continues to increase on a global scale,” says SpendEdge procurement research analyst Anil Seth.
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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- Toluene is experiencing substantial demand as an octane booster in the automotive fuel industry. Moreover, higher demand for toluene-based derivatives, such as xylenes and benzene, has increased the demand for the product globally.
- Purchasing managers must engage with suppliers using the local sourcing model. Apart from reducing transportation costs, it will also help them to limit the effect of import duties and anti-dumping regulations.
- Prices of toluene are consistently changing due to factors such as variations in demand and supply, and volatility in crude oil prices. Henceforth, purchasing managers are facing difficulties in estimating procurement budgets. This is also compelling them to hire consultants to forecast future prices, which adds to their procurement costs.
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Toluene Pricing Trends
The spot pricing and volume-based pricing are the two most widely accepted pricing models in the toluene 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 estimate their operating costs for a fiscal year, which helps end-user industries fix the market prices for their products.
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