LONDON--(BUSINESS WIRE)--SpendEdge has been monitoring the global acrylic resins market and the market is poised to experience spend growth of more than USD 3 billion between 2017-2022 at a CAGR of over 4%. Request free sample pages.
COVID-19 Impact Assessment and Market Insights
SpendEdge’s reports now include an in-depth complimentary analysis of the COVID-19 impact on procurement and latest market data to help your company overcome sourcing challenges. Our Acrylic Resins Market Procurement Intelligence Report offers actionable procurement intelligence insights, sourcing strategies, and action plans to mitigate risks arising out of the current pandemic situation. The insights offered by our reports will help procurement professionals streamline supply chain operations and gain insights in the best procurement practices to mitigate losses.
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Insights into the acrylic resins market price trends
Raw material and production costs include the cost of raw materials such as propane, propylene, acrylic resins, and methyl methacrylic resins. An expected increase in these costs will propel buyers’ acrylic resins procurement expenditure.
- The growing competition among suppliers to try to retain their experienced human resource pool will increase their employee expenses. This will have an inflationary on acrylic resins procurement costs.
Pricing Models that Buyers must Implement while Entering into a Contract with Suppliers
Spot pricing and volume-based are the two most widely adopted pricing models in the global acrylic acid market.
Volume-based pricing- The adoption of this pricing model will help buyers to avail discounts based on volumes of acrylic resins procurement. It will effectively reduce management efforts as it does not require continuous monitoring of prevailing market conditions. The volume-based pricing model will help buyers to plan procurement budgets better as the prices are more or less fixed for the contract period.
Spot pricing- Transparency in pricing is high in this model as it is based on prevailing market prices. It will enable buyers to obtain cost benefits when there is a drop in prices.
Insights into strategies that will help buyers optimize their acrylic resins procurement spend
Buyers are advised to engage suppliers who are vertically integrated. This will enable them to have better negotiation power, as these suppliers can achieve cost-savings by reducing costs and complexity associated with managing contracts and procuring raw materials from third parties. This will effectively reduce buyers’ acrylic resins procurement expenses for the long run.
- Buyers should identify suppliers who can assist them in price and demand forecasting for acrylic resins. This will help buyers to estimate budgets required to procure the desired amount of acrylic resins based on their historical purchases and future production requirement.
The acrylic resins suppliers enlisted in this report
This acrylic resins procurement market intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies.
- Mitsubishi Chemical
- LG Chem
- Idemitsu Kosan
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