LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Production Chemicals 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 production chemicals and acts as an all-inclusive guide for making smart purchasing decisions.
“An increase in oil production and growing production of oil and gas from unconventional oil wells are the factors which will contribute to the growth of the production chemicals market,” says SpendEdge procurement analyst Anil Seth. “Also, North America is considered as the largest market, which will influence the growth of production chemicals,” added Anil.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Production Chemicals Market:
- Offering of value-added services and technological assistance by suppliers
- Increasing consolidation in production chemicals market
- Growing demand for JIT services and custom packaging
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Offering of value-added services and technological assistance by suppliers
In the product chemicals category, leading suppliers are increasingly offering various value-added services and technological assistance to their customers. Such services can help the buyers enhance the efficiency of their production process.
Increasing consolidation in production chemicals market
Globally, the suppliers are increasingly resorting to inorganic growth through M&A to enhance their geographical presence, technological capabilities, and product portfolios. This can help the buyers obtain better prices and increase their products and services.
Growing demand for JIT services and custom packaging
In the production chemicals category, many large-scale buyers are increasingly ordering products in smaller quantities to reduce their inventory costs. This helps buyers optimize their inventories, thereby reducing the inventory costs.
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