LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement intelligence advisory firm, has launched three procurement research reports on the chemicals category. To help clients understand the current supply landscape of the chemicals sector, analysts have covered reports such as ‘Base Oil Procurement Research Report’, ‘Paraffin Wax Procurement Research Report’, and ‘Lubricants Procurement Research Report’.
Global Base Oil Category - Procurement Market Intelligence Report:
The growth of the base oil market can be attributed to the increasing demand for hydraulic fluids with high viscosity index which is compelling manufacturers of hydraulic fluids to use Group II and III base oils. Also, the increase in emission control norms for automobiles along with the growing preference for fuels that improve vehicle performance is expected to fuel the growth of this market space.
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Base Oil – Procurement Challenges:
- The difficulty in availing cost-effective inventory management solutions.
- Identifying suppliers that possess expertise in the use of analytical tools.
To overcome the above-mentioned procurement challenges, the buyers in the base oil market should identify and engage with after assessing their track records and should also evaluate the capacity utilization of suppliers. The buyers should collaborate with suppliers who possess the required expertise and can assist them in demand-supply and pricing forecasts over the contract period.
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Global Paraffin Wax Category - Procurement Market Intelligence Report:
The growth of the paraffin wax market can be attributed to the rise in demand from its end-user segments such as skin care and therapy segment, automotive sector, packaging sector, and food industry. The use of paraffin wax in tarpaulin manufacture is expected to fuel the growth of this market. Tarpaulins offer the advantages of durability, waterproofing, and cost-effectiveness and are widely used for either protecting or covering crops and vehicles.
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Paraffin Wax – Procurement Challenges:
- The difficulty in estimating prices over contract periods.
- Challenges in ensuring quality and supply assurance.
To overcome the above-mentioned procurement challenges, the buyers in the paraffin wax market should identify and engage with suppliers that offer sophisticated price forecasting models that consider the current market scenario. Also, engaging with suppliers that have a global footprint and distribution network will help in ensuring the quality of the procured goods.
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Global Lubricants Category - Procurement Market Intelligence Report:
The growth of the lubricants market can be attributed to the increase in vehicle population and industrial production. Technological advancements have led to a rise in demand for high-performance and better-quality lubricants in the industrial sector. Lubricants are also increasingly being used in the medical sector. Electromechanical devices are used in hospitals for surgical procedures and medical examinations, this will further drive the demand for lubricating products.
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Lubricants – Procurement Challenges:
- The lack of product awareness and lack of knowledge on usage.
- Lack of technical expertise in selecting appropriate lubricants.
To overcome the above-mentioned procurement challenges, the buyers in the lubricants market should collaborate with suppliers after assessing their supply chain network as it helps them to evaluate their expertise and ability to provide consistent and timely deliveries. Also, adopting this procurement practice will help the buyers minimize the risks associated with failure of third-party vendors.
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To view our complete portfolio of chemicals procurement research reports, visit: https://www.spendedge.com/store/industries/chemicals
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