Overview of the Global Metal Manufacturing Market
The metal manufacturing industry, a segment of the main manufacturing sector, is expected to reach around $4000 billion in 2020. Going forward, the market is expected to stabilize due to the recovery of developed economies and hastening growth in emerging markets such as Russia, the US, China, Brazil, and India. While the demand for metals has started soaring from industries such as automotive, electrical, and construction, factors including transportation, raw material deficiencies, shortage of skilled labourers, and fluctuating prices of aluminium and steel are sure to shake up the metal manufacturing industry.
Need of Supply Market Analysis in the Manufacturing Industry
To develop effective sourcing and negotiation strategies, it is important that organizations have a detailed understanding of the supply market. This includes understanding the industry dynamism, evaluating suppliers from a financial and capability prospect, and recognizing the significant drivers of price for a category. Moreover, an in-depth study of the market offers detailed information on the industry and suppliers; thereby, helping manufacturing companies to overcome risks and make the right sourcing decisions.
SpendEdge has been efficient in providing sourcing and procurement strategies to 500+ companies across the globe. Our strength lies in delivering robust, real-time procurement market intelligence that supports sourcing and procurement professionals make informed decisions.
Interested to know how employing SpendEdge’s supply market analysis template helps metal manufacturing companies enhance their business outcome? Continue reading or request a FREE proposal.