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The benzene procurement category is projected to grow at a CAGR of 5.93% during 2023-2027. The prices are outlined to rise by 5%-6% during the forecast period and suppliers will have a Moderate bargaining power in this market. Exxon Mobil Corp., Royal Dutch Shell Plc, and LyondellBasell Industries Holdings B.V. are a few of the key suppliers in benzene market.
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This report offers detailed insights and analysis of the major cost drivers, volume drivers, and innovations of the benzene procurement and sourcing market, which the global suppliers have been leveraging to gain a competitive edge across regions. Some of the leading benzene suppliers profiled extensively in this report include:
Furthermore, this benzene procurement market report provides detailed analysis of procurement strategies deployed by major category end-users across several industries while sourcing for benzene requirements. In addition, most adopted and high potential pricing models considered by buyers have been analyzed in this report, which will help understand business scopes for revenue expansion. These data will assist buyers to realize cost savings and identify business strategies to improve sales.
The benzene procurement market report provides detailed analysis into various supplier selection criteria, RFX questions, supplier evaluation metrics, and the service level agreements that the buyers should consider adopting to achieve significant cost savings, streamline procurement process, and reduce category TCO while sourcing for benzene requirements.
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The report provides a detailed insight of the most adopted procurement strategies by buyers across industries and analysis of these strategies with respect to innovation, regulatory compliance, quality, supply, and cost. Adoption of these procurement strategies will enable the buyers to reduce category TCO and achieve cost savings, while sourcing for benzene requirements.
The report discusses in detail each pricing model and the pros and cons attached to every pricing model prevalent in the market. Also, the report provides insights with respect to the category supply chain and the margins of various suppliers within the supply chain. These market analysis data will enable the buyers to make informed strategic sourcing decisions. Buy the full benzene procurement market report now to get comprehensive details on pricing models
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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 an incremental spend of USD 19.30 billion due to various market drivers prevalent across multiple regions. Also, the report speaks about various cost-saving factors through analysis of the below factors:
The benzene market will register an incremental spend of about USD 19.30 billion during the forecast period. However, only a few regions will drive the majority of this growth. Moreover, on the supply side, North America, Europe, and APAC will have the maximum influence owing to the supplier base. The growth is expected to be primarily driven by increasing demand and adoption of the category across those few regions. To get a detailed analysis of the volume drivers that are driving the adoption of the category across regions, buy the full report now!
The drivers and inhibitors that influence these global and regional outlooks are elaborated in detail in this procurement report. Our in-depth growth decomposition analysis covers details on:
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A targeted strategic approach to benzene sourcing will provide several opportunities. However, in the absence of actionable intelligence on benzene, buyers may end up focusing on a tactical sourcing strategy without any focus on cost-saving opportunities. Hence, this report focuses on category management initiatives such as top-line growth, scalability of inputs, and supply assurance, which will assist buyers to formulate a strategic procurement strategy
The report explains the following key category management objectives that should form the base for sourcing strategy.
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In addition to helping buyers in identifying the strategic goals and initiatives for category management, the report also has detailed insights into the most outsourced category management activities and category enablers which can simplify the procurement process for buyers.
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Scope of Benzene |
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Report Specs |
Details |
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Page number |
120 |
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Base year |
2023 |
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Forecast period |
2023-2027 |
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Spend growth (CAGR) |
5.93% |
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Incremental spend |
USD 19.30 billion |
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Pricing growth outlook |
5%-6% |
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Pricing models |
Volume-based pricing model and Spot pricing model |
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Supplier selection scope |
Extent of scalability, Supply capacity, Quality and safety measures, and Risk management |
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Supplier opportunities |
Top-line growth, Scalability of inputs, Supply assurance, Category innovations, Supply base rationalization, Demand forecasting and governance, Minimalization of ad hoc purchases, Adherence to regulatory nuances, Cost savings, Customer retention, Reduction of TCO, and Green initiatives |
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Supplier selection criteria |
Business needs, Technical specifications, Operational requirements, Security compliance, Regulatory mandates, Legal requirements, Quality control, Change management procedures, Pricing models, Penalty clauses, SLA nuances, Acceptance criteria, and Evaluation criteria |
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Category management scope |
Top-line growth, Scalability of inputs, Supply assurance, Category innovations, Supply base rationalization, Demand forecasting and governance, Minimalization of ad hoc purchases, Adherence to regulatory nuances, Cost savings, Customer retention, Reduction of TCO, and Green initiatives |
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Top suppliers |
Exxon Mobil Corp., Royal Dutch Shell Plc, LyondellBasell Industries Holdings B.V., SINOPEC Corp., TotalEnergies, Saudi Arabian Oil Co., ENEOS Holdings Inc., Braskem, Petroleo Brasileiro SA, LOTTE Chemical Corp., Dow Inc., and Honeywell International Inc. |
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Market dynamics |
Regional category spend in terms of percentage with respect to North America, South America, Europe, Middle East and Africa and APAC and global category spend and CAGR in terms of percentage over a span of 5 years. |
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Customization scope |
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