LONDON--(BUSINESS WIRE)--Global procurement market intelligence advisory firm, SpendEdge, has announced the release of their ‘ Benzene 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 benzene and acts as an all-inclusive guide for making smart purchasing decisions.
“The global benzene market is seeing demand-supply gaps across regions such as oversupply in APAC and supply deficits in North America,” says SpendEdge procurement research analyst Anil Seth. “Benzene has no direct application and is only used as an intermediary chemical. Hence, the growth of this market is highly reliant on the growth of industries such as steel, textiles, and packaging,” 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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- There has been robust growth in the production capacities of benzene derivatives, such as acetone, styrene monomer, caprolactam, and MDI over the past few years. Substantial demand from end-use applications of these chemicals is leading suppliers to expand their production capacities, which will augment the demand for benzene.
- Purchasing managers must evaluate analytical capabilities of suppliers, as it contributes toward quality assurance, consistency in product quality, and accuracy in managing storage conditions. Some of the aspects that can help in this assessment are a validation of analytical method, specifications and technical justification, and product quality reviews.
- Purchasing managers require suppliers to offer them supply assurance to offset risks in production and final delivery to end-customers. They can ensure this by gaining an understanding on how suppliers run their manufacturing units and by analyzing the efficiency of suppliers' operations. However, purchasing managers may not be able to obtain access to these data as this is critical information pertaining to suppliers' operations.
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Benzene Pricing Trends
The volume-based pricing and spot based pricing are the two frequently implemented pricing models in the global benzene market. The volume-based pricing helps purchasing managers in managing budgets as contract prices are fixed, which subsequently helps to fix market prices of their end-use products easily. Furthermore, it does not require constant monitoring of changes in commodity prices, hence reduces management effort. However, spot pricing help purchasing managers procure appropriate quantities of benzene based on the demand requirements of their end-user products.
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