LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement intelligence advisory firm, has announced the release of their ‘Myristic Acid Market 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 myristic acid and acts as an all-inclusive guide for making smart purchasing decisions.
“The relentless growth in end-user industries such as processed foods, personal care, and cosmetic products is likely to drive the growth of myristic acid,” says SpendEdge procurement analyst Tridib Bora. “APAC has the largest market both in terms of production and consumption, owing to the increased demand from processed food and pharmaceutical industries.,” added Tridib.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Myristic Acid Market:
- Vertical integration by supply base
- Extensive use of myristic acid as adhesive and sealant chemical
- Complete fatty acid offerings by suppliers
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Vertical integration by supply base:
In the recent years, the suppliers in the category are increasingly adopting vertical integration within their supply chain, owing to its benefits such as the assurance of supply, customization, reduction in costs. The buyers also gain numerous benefits because of high assurance of supply.
Extensive use of myristic acid as adhesive and sealant chemical
Owing to its benefits such as high cohesive strength and bonding, the myristic acid is extensively used as adhesives and sealants. Also, the cost associated with the acid is comparatively low as compared to other sealants.
Complete fatty acid offerings by suppliers
Globally, the suppliers provide a complete range of fatty acid to buyers based on the buyers’ requirements. Also, the buyers in the market are involved in bulk procurement to achieve substantial cost savings.
View our report snapshot to gain detailed insights into the current market trends.
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