Automotive Lightweight Materials Procurement - Sourcing and Intelligence Report on Price Trends and Spend & Growth Analysis
The automotive lightweight materials will grow at a CAGR of 11.28% during 2020-2024. Prices will increase by 2%-4% during the forecast period and suppliers will have a high bargaining power in this market. BASF SE, thyssenkrupp AG, Covestro AG, LyondellBasell Industries NV, Novelis Inc., Toray Industries, Inc., PPG Industries, Inc., DuPont de Nemours Inc., SABIC, and ArcelorMittal are among the prominent suppliers in automotive lightweight materials market.
Who are the Top Suppliers in the Automotive Lightweight Materials Market?
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Leading global suppliers can assist buyers in realizing high-cost savings through their efforts in areas such as vertical integration, supplier synergies, reducing total ownership cost, conference participation, managing commodity price volatility, negotiate on pricing and contractual terms, ad-hoc spend management, adoption of automation, and quality management. Collaborations with global suppliers will also help buyers in cost-saving and ensuring high-quality procurement in the dynamic market.
This report offers key advisory and intelligence to help buyers identify and shortlist the most suitable suppliers for their automotive lightweight materials requirements. Some of the leading automotive lightweight materials suppliers profiled extensively in this report include:
- BASF SE
- thyssenkrupp AG
- Covestro AG
- LyondellBasell Industries NV
- Novelis Inc.
- Toray Industries, Inc.
- PPG Industries, Inc.
- DuPont de Nemours Inc.
- SABIC
- ArcelorMittal
Supplier Selection and Evaluation
Profile and service capabilities of the service provider, industry specialization of the service providers, reputation of service providers, and assessment of value-added services are some of the most critical parameters that buyers use to shortlist the suppliers in automotive lightweight materials.
This report evaluates suppliers based on adoption of quality control measures, supplier oee and teep metrics, product costing and tco analysis, and annual order capacity. In addition, suppliers are also shortlisted based on business needs, technical specifications, operational requirements, security compliance, regulatory mandates, legal requirements, quality control, change management procedures, pricing models, penalty clauses, SLA nuances, working environment, and evaluation criteria.
What are the Major Pricing Trends in Automotive Lightweight Materials Procurement?
The pressure from substitutes and a high level of threat from new entrants has resulted in the high bargaining power of suppliers. This makes it extremely important to get the pricing and pricing model right. Buyers should align their preferred pricing models for automotive lightweight materials with the wider industry and identify the cost-saving potential.
Volume-based pricing and cost-plus markup pricing are the most widely adopted pricing models in the automotive lightweight materials. Each pricing model offers optimum benefits and fitment in specific situations. Buyers should identify the model that suits their operations in the best manner and link supplier performance to the pricing models.
Price Strategies and Benchmark
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To optimize the value of the purchase it is crucial to keep a track of current and future price trends. Price forecasts are beneficial in purchase planning, especially when supplemented by the constant monitoring of price influencing factors. During the forecast period, the market expects a change of 2%-4%.
- Identify favorable opportunities in automotive lightweight materials TCO (total cost of ownership)
- Expected changes in price forecast and factors driving the current and future price changes
- Identify pricing models that offer the most rewarding opportunities
Will there be an Increase in the Spend Growth for Automotive Lightweight Materials Procurement?
The report provides a complete drill-down on global automotive lightweight materials spend outlook at a global as well as regional level. Current spend scenario, growth outlook, incremental spend, and other key information is available individually for North America, South America, Europe, the Middle East and Africa, and APAC.
Spend Growth and Demand Segmentation
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The automotive lightweight materials market will register an incremental spend of about 65 billion during the forecast period. Only a few regions will drive the majority of this growth. On the supply side, North America, South America, Europe, Middle East and Africa, and APAC will have the maximum influence owing to the supplier base.
The drivers and inhibitors that influence these global and regional outlooks are also elaborated in detail. Our in-depth growth decomposition analysis covers details on:
- Factors driving the growth (or lack of it) in individual geographies
- Regions that hold the most rewarding opportunities for buyers and suppliers
- Is the spend growth cyclical and when will the growth curve peak?
What are the Major Category Management Objectives for Automotive Lightweight Materials Sourcing?
A targeted strategic approach to automotive lightweight materials sourcing will provide several opportunities to buyers. However, in the absence of actionable intelligence on automotive lightweight materials, buyers have resulted in a transaction-based approach towards the category. The buyers have moderate bargaining power in this market and a holistic category management approach will help buyers maximize the value on their automotive lightweight materials procurement.
The report explains key category management objectives that should form the base for sourcing strategy, including:
- Top-line growth
- Green initiatives
- Supply base rationalization
- Demand forecasting and governance
- Minimalization of ad hoc purchases
- Adherence to regulatory nuances
- Cost savings
- Customer retention
- Reduction of TCO
- Supply assurance
- Category innovations
- Scalability of inputs
In addition to helping buyers in identifying the strategic goals and initiatives for category management, the report will also help create the necessary support structure to facilitate implementation. This report provides in-depth inputs on streamlining category management practices and provides detailed answers on:
- The strategic sourcing objectives, activities, and enablers for automotive lightweight materials category
- Automotive lightweight materials procurement best practices to promote in my supply chain
Executive Summary
Market Insights
Category Pricing Insights
Cost-saving Opportunities
Best Practices
Category Ecosystem
Category Management Strategy
Category Management Enablers
Suppliers Selection
Suppliers under Coverage
US Market Insights
Category scope
Appendix
Research Framework
SpendEdge presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Procurement heads
- Category managers
- Sourcing consortium professionals
- Industry experts and thought leaders
- Procurement managers
- Category heads of suppliers
- Client account heads/managers
- Client and industry consultants
Secondary sources
- Industry journals and reports
- Periodicals and new articles
- Category webinars
- Internal categiry playbooks
- Industry and government websites on regulations and compliance
- Internal databases
- Industry blogs/thought leader briefings
DATA ANALYSIS
