Synthetic Resins Procurement - Sourcing and Intelligence Report on Price Trends and Spend & Growth Analysis
The synthetic resins procurement category is projected to grow at a CAGR of 5.09% during 2021-2025. The prices are outlined to rise by 5%-7% during the forecast period and suppliers will have a Moderate bargaining power in this market. BASF SE, Exxon Mobil Corp., and SABIC are a few of the key suppliers in synthetic resins market.
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Who are the Top Suppliers in the Synthetic Resins Market?
This report offers detailed insights and analysis of the major cost drivers, volume drivers, and innovations of the synthetic resins procurement and sourcing market, which the global suppliers have been leveraging to gain a competitive edge across regions. Some of the leading synthetic resins suppliers profiled extensively in this report include:
Furthermore, this synthetic resins procurement market report provides detailed analysis of procurement strategies deployed by major category end-users across several industries while sourcing for synthetic resins 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.
What are the Most Suitable Supplier Selection Criteria, Supplier Evaluation Metrics, and SLA that Buyers Should Consider?
The synthetic resins 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 synthetic resins requirements.
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What are the Most Adopted Procurement Strategies by Buyers Across Industries?
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 synthetic resins requirements.
What are the Major Pricing Models Adopted by Buyers in Synthetic Resins Market?
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 synthetic resins procurement market report now to get comprehensive details on 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 an incremental spend of 170.04 $ 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:
- Identify favorable opportunities in synthetic resins 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
What will the Spend Growth and Demand be by Region?
The synthetic resins market will register an incremental spend of about 170.04 $ 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:
- Factors driving the growth (or lack of it) in individual geographies
- Regions that hold the most rewarding opportunities for buyers and suppliers
- Spend growth and regional spend segmentation over the coming years
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What are the Major Category Management Objectives for Synthetic Resins Sourcing?
A targeted strategic approach to synthetic resins sourcing will provide several opportunities. However, in the absence of actionable intelligence on synthetic resins, 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 scalability of inputs, green initiatives, and category innovations, 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.
Category Pricing Insights
Category Management Strategy
Category Management Enablers
Suppliers under Coverage
US Market Insights
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.
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