Lubricants market overview
The recovery of the mining sector is anticipated to accelerate the spend growth momentum for the lubricants market in Australia. According to our procurement report, the number of meters drilled by Australian drilling companies rose by 13% due to an increase in coal and iron ore mining activities. This will spur the demand for lubricants among end-users. However, the emergence and growing popularity of recycling methods for used lubricants will negatively impact the spend growth momentum during the forecast period.
Why should you buy the report?
In this procurement report, the category spend is analyzed from the perspective of the buyers and the suppliers. It also offers a comprehensive coverage of the supply market, demand-supply scenario, types of lubricants, and lubricant uses to help the buyers procure lubricants at cost-effective rates.
Key insights offered in this report will help the buyers:
- Understand the spend potential within the lubricants market
- Identify cost-saving opportunities
- Assess regional spend dynamics
- Identify spend opportunities
Understand the global category spend for the lubricants market
The key end-users of lubricants include industries such as automobile, mining, marine, power and energy, and manufacturing. Among these industries, automobile and mining are the key end-user industries that will have a major impact on the demand for lubricants during the forecast period.
Additional insights offered in this procurement report include an analysis of:
- Spend on lubricants for the period of 2017-2022
- Procurement best practices
- Sustainability strategies
- Category pricing strategies
Optimize category spend for the lubricants market
Engaging with suppliers who are vertically integrated is one of the best practices to optimize category spend. Such an engagement would help the buyers to procure lubricants at a stable price, even when the prices of raw materials like crude oil and adhesives fluctuate.
To help buyers optimize their category spend, this procurement report offers an analysis of:
- Strategic sustainability practices
- Risk management strategies
- Major category enablers
Understand the lubricants supply landscape
Suppliers’ ability to adhere to stringent timelines is one of the best supplier selection criteria for buyers looking to procure lubricants at effective rates. Engaging with such suppliers would help the buyers to evaluate suppliers' performance based on their consistency in delivering products as per the timelines mentioned in the SLA.
This lubricants market procurement report also identifies the major costs incurred by the suppliers and offers a coverage of:
- Supplier operational capability metrics
- Incumbent supplier evaluation metrics
- Market favorability index for suppliers
Build effective category management strategies for the lubricants market
One of the best category management strategies to reduce spend while procuring various types of lubricants is to engage with suppliers who provide reverse logistics support for lubricant wastes. This would help the buyers to reduce logistics costs during waste disposal.
Key insights offered in this procurement report on the lubricants market will help the buyers identify:
- Supply chain margins
- Cost drivers impacting pricing
- Volume drivers impacting pricing
An analysis of lubricants suppliers, types of lubricants, uses of lubricants, and the best negotiation levers is offered in this commercial seaweed procurement report.
