The global benzene market is seeing demand-supply gaps across regions such as oversupply in APAC and supply deficits in North America. This is because benzene has no direct application and is only used as an intermediary chemical.
LONDON: The procurement research report on the benzene market is a crucial part of SpendEdge’s chemicals category portfolio and offers a all-inclusive analysis of the key factors influencing the supply market, strategic procurement decisions, pricing models, and procurement best practices. Furthermore, it also offers deeper insights into the supply chain management, key market developments, and demand-supply shifts to help sourcing and procurement experts make smart procurement decisions.
The global benzene market is primarily driven by the demand for its derivative products such as styrene, and cyclohexane that find several applications in various industries. Also, the primary demand for benzene is from the textiles sector, which uses benzene as an intermediate chemical to produce styrene monomer.
“Procurement managers must evaluate innovations incorporated in manufacturing facilities as this provides assurance of access to recent technologies,” says Anil Seth, a chemicals industry procurement research specialist at SpendEdge.
One of the key challenges faced by procurement managers is the difficulty in assessing plants’ operational data. It is crucial to gain a complete understanding on how suppliers run their manufacturing units and by analyzing the efficiency of suppliers’ operations. However, procurement managers may not be able to obtain access to these data as this is critical information pertaining to suppliers’ operations.
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This procurement research report on the benzene market offers insights on:
- Supply markets, growth drivers, trends, and imminent restraints
- Key suppliers and assessment of their capabilities
- Procurement best practices
- Negotiation strategies and cost-saving opportunities
- Pricing models and category innovations
- For a comprehensive, detailed list, view our full report
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