LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Industrial Gases Market - Procurement Intelligence Report.
According to the forecasts, the industrial gases market is set to expect a spend growth of more than USD 30 billion between 2018-2023. Industrial gases serve as critical components in welding and cutting of metals. The growing indispensability of steel as one of the critical raw materials across industries such as automotive manufacturing, construction, oil and gas, and other machinery manufacturing will directly contribute to the spend growth of the industrial gases market. These gases are extensively used in metal processing functions of steel. Download the free sample of this industrial gases market procurement intelligence report to get granular insights into the cost drivers that are driving the market price in regions.
Despite predictions of spend growth, factors typical of regions will impact the industrial market price to a significant extent. Lack of insights into the same will result in excess procurement spend for buyers in this market. This procurement report focuses on specific sets of industrial gases sourcing and procurement strategies that are attuned to the dynamics of this market across regions. These strategies will not only aid buyers in setting their industrial gases spend management goals but will also guide them in achieving the same.
Insights into Industrial Gases Sourcing and Procurement Strategies
“Increasing oil and gas prices will have a direct impact on the industrial gases market prices as these utilities are critical for the operation of industrial gas suppliers,” says SpendEdge procurement expert Tridib Bora.
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Experts state that to tackle such as potential price rise one of the best industrial gases sourcing and procurement strategies is to negotiate with suppliers that can open avenues for buyers to optimize their spend and achieve their industrial gases spend management goals. For instance, engagement with suppliers who can implement gas generation systems at buyers' site. This will allow buyers achieve improved delivery time and cost-saving while also preventing emissions associated with truck delivery of gases.
Get more information on procurement strategies recommended by our experts that will help you optimize your spend amidst difficult market scenario.
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