LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement market intelligence firm, has announced the release of their Global Aluminum Market - Procurement Intelligence Report.
The aluminum market is poised for an impressive spend growth during the forecast period owing to an exponential demand for recycled aluminum across a range of end-user industries. Focus on achieving the sustainability goals that include reducing waste and curbing greenhouse gas emissions is observed to have been driving the adoption of recycled aluminum to a large extent. Beneficial properties such as strength, low-weight, and recyclability are rendering aluminum as the second-most commonly used material after steel in the automobile manufacturing industry. This will further propel the spend growth of the aluminum market across geographies. Request a Free Sample of this aluminum procurement intelligence report here!
By virtue of being a low-weight metal, aluminum is being widely used by aircraft and automobile manufacturers in the US. This is helping them in achieving weight reduction in their aircraft and vehicle models, thereby improving fuel efficiencies. This is driving the demand growth of the aluminum market in the US to a significant extent. The rapid growth of the construction industry in countries such as India, China, Vietnam, and Malaysia have increased the demand for aluminum. Additionally, the growing demand for processed and frozen foods in APAC has increased the demand for aluminum packaging solutions in the food packaging industry. These factors are driving the category spend in APAC.
Insights offered in this procurement intelligence report include the best-suited aluminum supply market forecasts, major cost drivers, and category management insights. Such insights are relevant for both the buyers and the suppliers who seek a risk-free and a cost-effective procurement strategy. The category spend segmentation done in this market intelligence report will guide the investors in identifying the best investment areas as well as help them in identifying cost-saving opportunities in the market. Get free customization of this procurement intelligence report on the aluminum market to get information tailored to your every requirement.
“Buyers must choose to engage with suppliers that have proper transport infrastructure, such as trucks for shipping products to their facilities as per the deadlines outlined in the procurement contract,” says SpendEdge procurement expert Tridib Bora. “This is a critical criterion as transportation expense plays a key cost component in the overall procurement expenditure,” added Tridib.
This procurement intelligence report on the aluminum market has estimated the following cost drivers to influence the category growth in the coming years:
- Growth in adoption of aluminum by the automotive industry
- Increasing use of secondary aluminum by buyers to support sustainability goals
- Purchase the full market intelligence report on aluminum here!
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SpendEdge’s procurement market intelligence reports for the chemicals category provide detailed supply market forecasts and cost drivers that impact category growth. Such information will help procurement managers as well as the suppliers to determine the total cost of ownership and change their procurement strategies accordingly. Additionally, SpendEdge’s reports provide category management insights and information on the procurement best practices for the category.
Report scope snapshot: Aluminum
Category pricing insights
- Pricing outlook
- Total cost of ownership analysis
- Supplier cost structure
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- Supplier-side levers
- Buyer-side levers
- Quantifying cost savings by negotiation strategies
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- Competitiveness index for suppliers
- Buyer power
- Supplier power score
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