ENABLING SMART PROCUREMENT

Global Synthetic Resins Category - Procurement Market Intelligence Report

Single User: Allows a single employee of the organization to access the subscribed reports.

  • Published in: Nov 2017
  • Pages: 90
  • SKU: IRCMSTR14603

Global Synthetic Resins Category - Procurement Market Intelligence Report

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Single User: Allows a single employee of the organization to access the subscribed reports.

SpendEdge’s procurement research report on the global synthetic resins market provides procurement professionals with up-to-date information about market shifts and potential risks, as well as in-depth knowledge of products and services. This report provides a detailed analysis of the supply market, procurement challenges, and procurement best practices which can help in planning and executing category management activities. It also focuses on the cost-saving aspects of procurement and on providing insights that can lead to optimization of category spend.

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

 

Synthetic Resins - Category Spend Analysis

 

According to analysts at SpendEdge, the increasing demand from the composites industry for thermoset resins is a key growth driver for the synthetic resins industry. Some of the common thermosetting polymers are epoxy resins, polyester resins, vinyl esters, and polyurethane. Thermoset resins are vital ingredients in the composites industry, especially in composites used in the manufacture of components for industrial sectors such as aerospace, automotive, and electronics. High mechanical strength, corrosion resistance, and lightweight are some favorable characteristics that thermoset resins exhibit. Following are some thermoset resins that find significant use in industrial applications as listed below:

  • The vinyl ester segment, which accounts for a significant share of the thermoset market, is used in the manufacture of corrosion-resistant products such as fiberglass tanks as vinyl esters are less likely to get damaged due to hydrolysis
  • Epoxy resin, another widely-used thermoset resin, offers properties such as thermal stability, enhanced adhesion, solvent resistance, and high compatibility with chemicals present in applications such as solvents. Based on these properties, it is used in several applications such as paints and coatings, adhesives, and fiberglass reinforcement
  • Phenolic resins emit less smoke during accidental fires and have less toxic content compared with other thermoset resins. Hence, they are used in the manufacture of aircraft walls as well as in applications that require flame retardant properties along with properties mentioned above

Another factor for the growth of this market is the high demand from the packaging sector for synthetics resins due to favorable properties, including lightweight and ability to act as an excellent barrier, which allows for their usage in applications such as barrier packaging, shrink wraps, and pharmaceutical packaging. Additionally, the growing innovation in product formulations will serve as an impetus for the market growth. This is because buyers continuously demand new and enhanced product formulations that can improve the quality of their end-products.  

Synthetic Resins - Procurement Best Practices

 

One of the procurement best practices for buyers is to use digitization techniques to manage resin procurement effectively. Buyers and suppliers should collaborate in digitizing procurement processes of buyers, as it can increase visibility across the value chain. Suppliers also benefit from streamlining of process flows, reduction in the documentation, and enhancement in transactional efficiency.

The shift to digital systems will help buyers benefit in several ways, including:

  • Access to tools that track market changes and their impact on supply chains
  • Optimizes supplier management and strategic sourcing
  • Access to entire gamut of procurement data to achieve supply chain excellence
  • Facilitates the use of interactive modeling for making accurate and timely supply chain decisions

Synthetic Resins - Procurement Challenges

 

According to this procurement research report, one of the key procurement challenges faced by buyers is the challenges in managing synthetic resin prices. The global synthetic resins market exhibits significant volatility in resin pricing. Some factors that affect the high volatility in pricing are capacity adjustments by major suppliers, operating rates of various plants, changes in import/export laws, geopolitical events, and inventory adjustments.

Buyers sometimes lack significant market knowledge on evolving trends, which can result in them ending up increasing their procurement costs. This can enhance the cost of their end-products or reduce their profit margins.

 

Get unlimited access to all our reports. Our Insights platform provides ready-to-use procurement research reports, latest supplier news, innovation landscape, markets insights, supplier tracking, and much more at the click of a button. Start your 14-day trial now.

Read less

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

 

Synthetic Resins - Category Spend Analysis

 

According to analysts at SpendEdge, the increasing demand from the composites industry for thermoset resins is a key growth driver for the synthetic resins industry. Some of the common thermosetting polymers are epoxy resins, polyester resins, vinyl esters, and polyurethane. Thermoset resins are vital ingredients in the composites industry, especially in composites used in the manufacture of components for industrial sectors such as aerospace, automotive, and electronics. High mechanical strength, corrosion resistance, and lightweight are some favorable characteristics that thermoset resins exhibit. Following are some thermoset resins that find significant use in industrial applications as listed below:

  • The vinyl ester segment, which accounts for a significant share of the thermoset market, is used in the manufacture of corrosion-resistant products such as fiberglass tanks as vinyl esters are less likely to get damaged due to hydrolysis
  • Epoxy resin, another widely-used thermoset resin, offers properties such as thermal stability, enhanced adhesion, solvent resistance, and high compatibility with chemicals present in applications such as solvents. Based on these properties, it is used in several applications such as paints and coatings, adhesives, and fiberglass reinforcement
  • Phenolic resins emit less smoke during accidental fires and have less toxic content compared with other thermoset resins. Hence, they are used in the manufacture of aircraft walls as well as in applications that require flame retardant properties along with properties mentioned above

Another factor for the growth of this market is the high demand from the packaging sector for synthetics resins due to favorable properties, including lightweight and ability to act as an excellent barrier, which allows for their usage in applications such as barrier packaging, shrink wraps, and pharmaceutical packaging. Additionally, the growing innovation in product formulations will serve as an impetus for the market growth. This is because buyers continuously demand new and enhanced product formulations that can improve the quality of their end-products.  

Synthetic Resins - Procurement Best Practices

 

One of the procurement best practices for buyers is to use digitization techniques to manage resin procurement effectively. Buyers and suppliers should collaborate in digitizing procurement processes of buyers, as it can increase visibility across the value chain. Suppliers also benefit from streamlining of process flows, reduction in the documentation, and enhancement in transactional efficiency.

The shift to digital systems will help buyers benefit in several ways, including:

  • Access to tools that track market changes and their impact on supply chains
  • Optimizes supplier management and strategic sourcing
  • Access to entire gamut of procurement data to achieve supply chain excellence
  • Facilitates the use of interactive modeling for making accurate and timely supply chain decisions

Synthetic Resins - Procurement Challenges

 

According to this procurement research report, one of the key procurement challenges faced by buyers is the challenges in managing synthetic resin prices. The global synthetic resins market exhibits significant volatility in resin pricing. Some factors that affect the high volatility in pricing are capacity adjustments by major suppliers, operating rates of various plants, changes in import/export laws, geopolitical events, and inventory adjustments.

Buyers sometimes lack significant market knowledge on evolving trends, which can result in them ending up increasing their procurement costs. This can enhance the cost of their end-products or reduce their profit margins.

 

Get unlimited access to all our reports. Our Insights platform provides ready-to-use procurement research reports, latest supplier news, innovation landscape, markets insights, supplier tracking, and much more at the click of a button. Start your 14-day trial now.

PART 1: CATEGORY AT A GLANCE

  • TAKEAWAY 01 | Market Overview
  • TAKEAWAY 02 | Demand and Supply Snapshot
  • TAKEAWAY 03 | Key Market Dynamics
  • TAKEAWAY 04 | Supply Market Highlights
  • TAKEAWAY 05 | Pricing Insights
  • TAKEAWAY 06 | Procurement Insights

PART 2:  SCOPE OF THE REPORT

  • Category Definition
  • Research Methodology

PART 3: MARKET INSIGHTS

  • Category Spend Analysis
  • Category Maturity by Regions
  • Demand-Supply Shifts
  • Regional Demand-Supply Snapshot
  • Global Molasses Production Hubs
  • Market Developments
  • Regional Impact of Trends
  • Key Category Growth Drivers and Corresponding Regional Impacts
  • Major Category Growth Constraints and Corresponding Regional Impacts
  • Key Current Technological Innovations
  • Major Regulatory Frameworks
  • Strategic Sustainability Practices
  • Porter’s Five Forces
  • PESTLE Analysis

PART 4: SUPPLY MARKET INSIGHTS

  • Supplier Operational Capability Matrix
  • Other Prominent Suppliers by Region: Operational Capability Matrix
  • Supplier Functional Capability Matrix
  • Other Prominent Suppliers by Region: Functional Capability Matrix
  • Key Clients/Partners
  • Supplier Cost Breakup
  • Supplier Positioning Matrix

PART 5: PRICING INSIGHTS

  • Pricing Models Snapshot
  • Pricing Models – Pros and Cons
  • Indicative Pricing

PART 6: PROCUREMENT INSIGHTS

  • Major Category Requirements
  • Major Procurement Pain Points
  • Category Sourcing Evolution Matrix
  • Procurement Best Practices
  • Cost-saving Opportunities
  • Supplier Selection Criteria
  • Category Negotiation Strategies
  • SLA Terms
  • Supplier Evaluation Criteria
  • Category Risk Analysis

PART 7: TOP SUPPLIERS

  • The Dow Chemical
  • ExxonMobil
  • BASF
  • DuPont
  • SABIC
  • Mitsubishi Chemical Corporation (Mitsubishi Chemical Holdings Corporation)

PART 8: APPENDIX

  • Glossary
  • Key Notes
  • About Us
Read less

PART 1: CATEGORY AT A GLANCE

  • TAKEAWAY 01 | Market Overview
  • TAKEAWAY 02 | Demand and Supply Snapshot
  • TAKEAWAY 03 | Key Market Dynamics
  • TAKEAWAY 04 | Supply Market Highlights
  • TAKEAWAY 05 | Pricing Insights
  • TAKEAWAY 06 | Procurement Insights

PART 2:  SCOPE OF THE REPORT

  • Category Definition
  • Research Methodology

PART 3: MARKET INSIGHTS

  • Category Spend Analysis
  • Category Maturity by Regions
  • Demand-Supply Shifts
  • Regional Demand-Supply Snapshot
  • Global Molasses Production Hubs
  • Market Developments
  • Regional Impact of Trends
  • Key Category Growth Drivers and Corresponding Regional Impacts
  • Major Category Growth Constraints and Corresponding Regional Impacts
  • Key Current Technological Innovations
  • Major Regulatory Frameworks
  • Strategic Sustainability Practices
  • Porter’s Five Forces
  • PESTLE Analysis

PART 4: SUPPLY MARKET INSIGHTS

  • Supplier Operational Capability Matrix
  • Other Prominent Suppliers by Region: Operational Capability Matrix
  • Supplier Functional Capability Matrix
  • Other Prominent Suppliers by Region: Functional Capability Matrix
  • Key Clients/Partners
  • Supplier Cost Breakup
  • Supplier Positioning Matrix

PART 5: PRICING INSIGHTS

  • Pricing Models Snapshot
  • Pricing Models – Pros and Cons
  • Indicative Pricing

PART 6: PROCUREMENT INSIGHTS

  • Major Category Requirements
  • Major Procurement Pain Points
  • Category Sourcing Evolution Matrix
  • Procurement Best Practices
  • Cost-saving Opportunities
  • Supplier Selection Criteria
  • Category Negotiation Strategies
  • SLA Terms
  • Supplier Evaluation Criteria
  • Category Risk Analysis

PART 7: TOP SUPPLIERS

  • The Dow Chemical
  • ExxonMobil
  • BASF
  • DuPont
  • SABIC
  • Mitsubishi Chemical Corporation (Mitsubishi Chemical Holdings Corporation)

PART 8: APPENDIX

  • Glossary
  • Key Notes
  • About Us

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