Key findings: Plastic pails

This plastic pails procurement market intelligence report analyzes the current market trends and recommends the best purchasing strategies to procurement professionals looking to identify cost-saving opportunities. The report also offers an analysis of the US supply market and market entry barriers to help buyers and suppliers.

The universal concern over the environmental impacts is driving the usage of plastic that is sustainable and bio-degradable to manufacture plastic pails. This is improving the acceptance of such plastic pails among consumers, thereby; accelerating the category spend momentum for a long-run. Buyers are partnering with category suppliers and the raw material vendors to develop plant-based plastic pails that have exhibited a reduced carbon footprint by 65%.

To know more about the year-over-year spend growth rate, download a free sample report.

Analyze the global category spend for plastic pails

The packaging industry is fast replacing traditional packaging materials such as metals and glass by plastic pails because of its beneficial properties such as rust resistance, lightweight, and recyclable. The ability to be customized with respect to size, shape, moldability, the material used in its manufacturing process is also favoring the category demand for packaging products such as food and beverages, chemicals, paints and adhesives, pharmaceutical products, and lubricants. The steady growth of the construction industry is creating a substantial requirement for construction materials such as paints, chemicals, and adhesives, which, in turn, is driving the global category spend on plastic pails.

For more information on the exact spend growth rate and yearly category spend, download a free sample.

This procurement research report offers coverage of:

• Regional spend dynamism and factors impacting costs
• Total cost of ownership and cost-saving opportunities
• Supply chain margins and pricing models

Optimize category spend for plastic pails

Strategic partnership with suppliers plays a critical role in devising optimum purchasing strategies in this market of plastic pails. Our procurement experts advise buyers to maintain a supply base constituted with regional and global suppliers to optimize costs. While regional suppliers can offer low-cost solutions, global suppliers can facilitate buyers with access to raw-material vendors across geographies. This will strengthen the buyer’s visibility of the raw-materials pricing structure.

This market intelligence report also offers coverage of:

• Key category management objectives
• Supplier cost breakup
• Category pricing dynamics

Assess category spend for the US region

The growth of the construction industry in the US will serve as one of the significant category growth drivers in this region. An established economy coupled with the federal incremental spend on public infrastructure projects will augment construction activities in the US. This will create sufficient requirements for products such as paints and construction chemicals, that will require plastic pails to fulfill their packaging requirements.

Additional information offered in this sourcing and procurement report will help buyers analyze:

• Margins of suppliers in the US
• Category spend in the US
• Price outlook and forecasts until 2023

Build strategies for effective supplier selection

Buyers give the quality of plastic pails paramount importance since the category plays an integral part in their manufacturing process. Category buyers must ensure that the products delivered by the suppliers must exhibit the specified tensile strength, should be airtight and leak-proof and be non-reactive with buyers' products. Such properties help preserve the content inside the package during the storage and transportation stages.

This sourcing and procurement report identifies the significant costs incurred by suppliers and provides additional information on:

• Competitiveness index for suppliers
• Market favorability index for suppliers
• Supplier and buyer KPIs

Devise effective category management strategies for plastic pails

In a strictly regulated food processing and packaging industry, it is imperative that the category manager’s purchasing strategies emphasize on ensuring that the plastic pails supplied are compliant with regulations set by bodies such as the FDA in the US. Failure to meet the regulatory standards will result in strict regulatory actions taken against the buyers that can ramify to severe brand image damage and a plummeting market share.

Key insights offered in this market intelligence report will help the buyers identify:

• Risk mitigation strategies
• Cost-saving opportunities: Supply-side levers
• Supplier relationship management strategies

Determine the spend dynamics for key geographies

The implementation of a new directive in the EU that specifies curbing on packaging waste generation will drive the usage of recyclable materials, such as plastic pails, in the manufacturing process in Europe. The growth of the urban demography is spurring the rise in construction activities in APAC countries. This will create a huge demand for construction materials such as chemicals, paints, and adhesives, that in turn will require sustainable materials like plastic pails for packaging, thereby; accelerating the spend momentum in the region.

Key geographies analyzed in this procurement research report include the following:

• APAC
• MEA
• Europe
• North America
• South America

Information on the top plastic pails suppliers, the significant risks faced while procuring plastic pails, and the best purchasing strategies are offered in this market intelligence report. Download a free sample to access the report’s complete scope of coverage.

Key Features of Report

Supply Market Insights	Procurement Best Practices
Cost Saving Opportunities	Pricing Models
Negotiation Strategies	Category Risk Analysis
Key Supplier Analysis	Supplier Capability Matrix

Plastic Pails - Category Spend Analysis

According to our analysts, one of the primary growth drivers for the global plastic pails supply market is the growing use of lightweight materials. Due to volatile energy prices, cost cutting, and environmental concerns (pressure to lower carbon footprint), suppliers are using lightweight plastic materials to manufacture rigid plastics. Suppliers are introducing a new line of ergonomic pails specifically designed for food packaging. As they are lightweight and have excellent stacking capabilities, the number of shipments required as well as the wastage of materials are reduced, thereby improving environmental sustainability.

Plastic Pails – Procurement Best Practices

Buyers must ensure suppliers meet criteria for design qualification testing. Buyers that transport hazardous materials as certified by the US DOT should ensure that plastic pails used fulfill the requirements of Title 49 CFR such as successful completion of design qualification tests. They can also carry out periodic retesting at suitable intervals to ensure manufacturers meet such stringent requirements.

Plastic Pails - Procurement Challenges

Based on the analysis in this report, a major procurement pain point experienced by the buyers is the adherence to regional regulations. Our procurement specialists predict that the buyers must look for suppliers with strong local/regional presence and regulatory expertise.