LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Plasticizers Market - Procurement Intelligence Report.
Stringency in the regulatory framework and the steep rise in the crude oil prices across the globe are the two antagonizing forces that will prevail in the plasticizers market during the forecast period. Failure to maintain absolute compliance with the regulations will not only invite costly litigations but will also tarnish the buyer’s brand image. These factors will render procurement complex and costly in the plasticizers market.
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According to the forecasts, the plasticizers market will attain a spend growth of over USD 5 billion at a CAGR of over 5%. This spend growth will be contributed by the increasing demand from flexible PVC manufacturers and the lightweight automotive market.
What are the plasticizers price trends that are driving the overall price structure in the global plasticizers market?
- Predictions of fluctuations will have rippling impacts on the plasticizers market in the form of increasing raw material prices and a significant hike in logistics expenditure. These will accelerate plasticizers suppliers’ OPEX which will have a subsequent impact on the buyer’s procurement spend.
- Utility costs are another major component of plasticizers suppliers’ manufacturing cost and are inclusive of the expenses related to fuel, steam, and electricity. This price is expected to grow owing to factors such as the scarcity and undersupply of raw materials for energy production.
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What are the scopes of optimizing procurement spend with these upward rising plasticizers price trends?
The scopes to optimize spend are ample and it will require strategic insights into the plasticizers suppliers market. Strategic selection of suppliers will not only fulfill the buyer’s delivery requirements but will also play a critical role in guiding the buyers to optimize their procurement spend. Suppliers who are known to adopt cost-optimizing measures pass on their profits to the buyers in the form of reduced product prices.
Engage with suppliers that assist in hedging
In the plasticizers market, buyers are advised to partner with suppliers who can assist in hedging by providing accurate demand and price forecasts. Hedging helps in reducing the risks associated with volatility in the prices of commodities.
Engage with nearshore suppliers
According to the plasticizers price trends, logistics expenditure constitutes about 30% of the total cost of plasticizers procurement, the majority of which is passed on to buyers. It is prudent for buyers to engage with nearshore suppliers to minimize such costs. Buyers should also factor in the volatile nature of plasticizers which necessitates shorter distance and duration of transportation. This helps in avoiding volume loss during transportation.
Take a fast but smart procurement decision in this market. Get a free sample of this plasticizers market procurement intelligence report to know about the price trends, information, and supplier information.
Some of the key topics covered in this report are:
- Plasticizers market spend segmentation by region
- Total cost of ownership analysis in the plasticizers market
- Regional spend opportunity for plasticizers suppliers
- Plasticizers suppliers cost structure
- Plasticizers suppliers selection criteria
- Plasticizers suppliers under coverage
- Procurement best practices
- Category management objectives
- Cost saving opportunities in the plasticizers market
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