Tag: Chemicals Supplier

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Popular Suppliers in the Global Sodium Thiosulfate Market

Sodium thiosulfate is a colorless crystalline inorganic compound that is produced mainly from liquid waste products of sodium sulfide and sulfur dye manufacturing. This substance has a wide range of industrial applications including iodometry, photographic processing, medical applications, and gold extraction. This inorganic salt is also known to have several medical uses. Sodium thiosulfate is used to reduce some of the side effects of cisplatin (a cancer medicine). It is also having proven application in the emergency treatment of cyanide poisoning.

SpendEdge’s procurement intelligence report on the global sodium thiosulfate market provides in-depth information on the market drivers, growth dynamics, procurement best practices, key suppliers, and several other vital insights on the sodium thiosulfate market.

sodium thiosulfate

Top sodium thiosulfate suppliers

Merck KGaA

Merck KGaA is a leading science and technology company. Their expertise lies in healthcare, life science, and performance materials. The company offers specialized and high-quality products in healthcare, life science002C, and performance materials. The company is headquartered in Darmstadt, Germany.  Merck KGaA holds the rights to the name and the trademark “MERCK” internationally except for the United States and Canada. In the US and Canada, the company operates in the biopharma market as EMD Serono, in life science as Millipore Sigma, and in the specialty chemicals and high-tech materials business area as EMD Performance Materials.request proposal

Cellmark

CellMark, a leading global supply chain service company provides products, services, and solutions to customers and suppliers all over the world. The company facilitates trade and business development across multiple industries with their vast network of local offices and professional expertise. Cellmark was founded in 1984 in Gothenburg, Sweden.

Esseco

Esseco is a family owned Italian industrial chemical group that is focused on inorganic chemical products such as sodium thiosulfate and winemaking industries since the year 1920. The company is focused on identifying new applications for their products and services such as food preservatives, food, and animal feed integrators, medicine and personal hygiene products, chemical fixatives for photography and radiology, and several mRequest Demoore. In 2003 with a joint venture between two leading sulfur dioxide derivative producers, Esseco Srl, and General Chemical, Esseco USA LLC was formed.

Solvay

Solvay is a Belgian company that was founded in the year 1863. It is an advanced material and specialty chemicals company, committed to developing chemistry that addresses key societal challenges. The company’s products are used in batteries, planes, cars,  smart, and medical devices. The company’s key areas of expertise include consumer goods, healthcare, automotive, aerospace, resources and environment, agro, feed and food, electrical and electronics, building and construction, and other industrial applications.


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A Supply Market Overview of the Mercury Sulfate Market

Mercury sulfate is a metallic compound that is white, pale yellow, or beige in color, and is in powdered form. It is used is electrochemical cells and acts a good electrode. It exists in two forms mercury (I) sulfate and mercury (II) sulfate.

Request Free SampleUses and applications of mercury sulfate

Mercury sulfate is a highly toxic chemical and should be handled with care. Thereby, its use is more popular in industrial applications. Currently, it is highly used in the manufacturing of the solar cells to generate energy from renewable energy sources. Traditionally though, it has been used as a reagent and catalyst for the production of aldehydes. Currently, the use of mercury sulfate (I) as an electrode in lead-acid batteries to measure half-cell potentials is driving the growth of global mercury sulfate market.

The biggest market for mercury sulfate

North America is the most significant market for the consumption of mercury sulfate with the demand growing at a rapid rate with a CAGR of 2.5%. Such growth can be attributed to factors such as robust growth in end-user applications such as the production of solar cells and use of solar cells in medical devices. North America is closely followed by the APAC region where the chemical is used in consumer electronics industry to power the device with mercury-based battery.

Mercury Sulfate Production HubsLargest suppliers of mercury sulfate

The US, Canada, and Asian countries such as India and China are considered the largest producers of mercury sulfate. The North American market is dominated by producers such as Merck and Alfa Aesae. India and China have a cost advantage as they enjoy low-cost labor and availability of raw materials for manufacturing.

Market developments and trends

The current market is experiencing a high level of M&A activities. For instance, Merck KGaA acquired Sigma Aldrich, one of the major suppliers of mercury sulfate, which expanded the product portfolio and geographic reach of Merck. Such suppliers are also investing heavily in R&D activities to provide industry-specific grades based on end-use applications. Such activities will help buyers to adhere to regulations such as ECHA (EU), FDA (US), and EPA (US) based on end-user requirements.

Technological innovations

As seen in all manufacturing industries, automation has taken over in this market as well. Suppliers are adopting automation in their operational process to increase the capacity utilization rate and thereby, enhance the efficiency of the production process. Additionally, they are also implementing centralized IT software that helps suppliers to manage inventory levels, making it easier to supply mercury sulfate based on the stock-levels at different operational facilities.

Top Five Suppliers

Merck KGaA

Merck KGaA is an American multinational company and is among the largest pharmaceutical companies in the world. It thrives on manufacturing medicines, vaccines, biological therapies, and animal health products.

Revenue: $16.9 billion

Alfa Aesar

Alfa Aesar is a subsidiary of Thermo Fisher Scientific that manufactures products such as chemicals, metals, and life science products.

Revenue: $18.2 billion

Yogi Dye Chem Industries

Yogi Dye Chem Industries is an Indian manufacturer, exporter, and importer of pharmaceutical raw materials, bulk drugs, metallic salts, veterinary feed additives, and chemical fines.

Revenue: $50-100 million

Cfm Oskar Tropitzsch

Cfm Oskar Tropitzsch is a manufacturer of pharmaceutical and chemical intermediaries, which includes reagents, API’s excipients, and various metal compounds.

Revenue: $50-100 million

Shanghai Zhihua ChemTech

Shanghai Zhihua ChemTech manufactures and provides various chemical and pharmaceutical products and caters to the life science and pharmaceutical industries.

Revenue: $10-50 million

 

Read more about the supply market overview of the mercury sulfate market along with procurement insights, procurement challenges, pricing models, and technological advancements in SpendEdge’s upcoming report on the global mercury sulfate market.

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The Largest Consumers of Crude Oil in the World

The world runs on money! Or oil! Crude oil to be more specific. It is unnecessary to explain the importance of crude oil in the world. We just have to look at the news, and how countries with oil resources have become rich. The Middle East is the biggest example of this statement. The statement, “the world runs on oil” not only talks about the political influence of oil-rich economies but also in its literal sense. It is because of crude oil that most of the vehicles are running on the road and the manufacturing units all across the world are still functional. The global crude oil consumption as of 2017 stood at 3.72 trillion metric tonnes. (SpendEdge – Procurement Market Intelligence Report) Although the world is moving towards clean energy, oil is still a significant part of the global economy.

Largest consumers of crude oil

APAC region

High economic growth in countries such as China, India, Singapore, and Indonesia has driven consumption and made APAC the leading market for crude oil in terms of consumption. Gasoline, kerosene, diesel fuel, and paraffin wax are amongst the major crude oil products consumed in this region. Such fuels are powering various industrial and domestic applications including automobile, chemical manufacturing, and road construction. In India, LPG consumption is very high, as it is the primary source of energy for daily cooking needs. Over the last decade, the production of natural gas in China has been shooting up; thus, driving the manufacturing of chemicals as it’s a clean fuel source. As a result, the overall demand for crude oil is expected to grow at a CAGR of 3%–4% over the forecast period

North America

In terms of consumption, the US is the largest market for crude oil, not only in North America but also globally. The country accounts for more than 20% of the global crude oil consumption. It is no wonder that the US has either issues or diplomatic relations with many countries in the Middle East. A high number of per capita vehicle ownership and energy consumption are the significant factors driving the consumption in this market. Additionally, the discovery of shale oil in the region has resulted in an increase in domestic production volumes of crude oil, which, in turn, has led to a decline in both price and imports of crude oil.

However, the growth of the natural gas market in the region, which can be attributed to the discovery of shale gas in the region, has resulted in several chemical suppliers using natural gas as fuel and feedstock to produce chemicals such as olefins and ethylene. These factors are expected to lead to a minimal growth in demand for crude oil in the region

Europe

Europe ranks third in terms of global crude oil consumption. The strong chemical and automotive market in France, Germany, and Russia are driving the consumption in this region. The region is also the fastest growing in terms of green energy as countries such as Sweden and Denmark are focusing on clean energy. Europe is also the leading market for electric cars (sales per capita) worldwide. Moreover, governments across the region have passed legislation to reduce the consumption of crude oil by employing stringent limitations on emissions of pollutants from the use of crude oil products. Consequently, the overall market for crude oil is expected to decline over the years.

MEA

MEA is one of the largest production hubs for crude oil. The region uses crude oil to produce chemicals such as EDC, VCM, ethylene, benzene, toluene, and olefins. Apart from the Middle East, high economic growth in African countries, such as Nigeria, is leading to the higher consumption of crude oil-based fuels. The only concern for crude oil market in this region is the surrounding political instability, civil war, and financial downturn. Such events can have a negative effect on both the demand and supply of crude oil, which will hamper the market growth.

South America

Venezuela is the country with largest oil reserve in the world, with an estimated proven oil reserve of over 250 billion barrels. In terms of consumption, it ranks third followed by Brazil and Argentina. Majority of the crude oil is used in the production of chemicals such as EDC, olefins, gasoline, diesel, and kerosene, which are then used in several end-user segments. The region, however, experiences a decline in crude oil demand due to the preference for biofuels such as ethanol.

 

Read more about the top consumers of crude oil with supply market insights, procurement challenges, pricing insights, and technological advancements in SpendEdge’s upcoming report on the global crude oil market.

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Top Trends Shaping the Drilling Fluids Market Landscape

The increase in global energy demands has given rise to oil and natural gas exploration activities in recent times. An essential component in such kind of oil and natural gas exploration is the need for drilling fluids. Drilling fluids are critical in drilling activities to provide hydrostatic pressure to prevent formation fluids from entering into the wellbore, carry out drill cuttings, and keep the drill bit cool. Additionally, drilling fluids enable the collection of data about rock formations. The recent procurement market intelligence report from SpendEdge attributes the growth of the global drilling fluid market to the recovery of oil and gas prices. Major oil and gas producers, such as OPEC nations and Russia, implemented production cuts to stabilize the volatility in pricing, which had affected the growth of the industry in general, post the fall in oil prices in 2014.

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Increasing drilling activities in challenging environments

As drilling for oil and gas is growing in challenging environments such as shale reserves and deepwater, an increase in demand can be observed for drilling fluid solutions that can deliver optimal drilling performance in such situations. For instance, in the case of directional drilling, fluids with improved lubricity is required in order to combat high friction. The demand for drilling fluids capable of withstanding high temperatures found in deeper wells is well on rise causing suppliers to invest heavily in R&D activity.

Consolidation among oilfield services company

The dip in the oil prices in early 2014 caused many oil and gas companies to be involved in M&A activities. It not only helped their case for survival but also helping them complement and complete their portfolios of oilfield services. For instance, the acquisition of Baker Hughes by GE enabled the latter to add oilfield services to its existing oil and gas portfolio. Such M&A deals allow the companies to procure different services from a single supplier, reducing their management complexities.

Rise in exploration activities of shale oil and gas reserves

The North Dakota oil boom has motivated numerous countries to explore the commercial viability of their shale reserves. For instance, in August 2017, a regional player was granted the rights for exploration and development of a shale gas block in China’s Guizhou province. Apart from that, many countries such as Norway, Argentina, UK, and South Africa are already planning or executing shale gas exploration. The increase in shale gas exploration activities is driving the demand for special drilling fluids that can enable operations in these challenging formations.

Demand for environment-friendly drilling fluids

The contents of drilling fluids contain petroleum products and heavy metals that can harm the environment in case of spillage. Mining companies and gas drillers can be severely penalized by regulatory bodies in case there is a discharge of such harmful substances from their operations into their surroundings. As a result, the industry is demanding drilling fluids that have minimal environmental effects. For example, Schlumberger has developed the ENVIROTHERM NT drilling fluid system in response to demand for a chromium-free drilling fluid system.

Recovery of oilfield services

Along with the recovery in oil prices after its steep fall in 2014, the spend on upstream activities has gradually increased thereby increasing the demand for oilfield services. Consequently, the service costs for oilfield activities have been continuously on the rise. This increase is evident in locations with low production costs as opposed to locations with high production costs. Such increase can have a substantial effect on profit margins of oil and gas producers as drilling fluids account for 4%-16% of the total drilling costs.

Read more about the drilling fluids market along with pricing insights, procurement best practices, key suppliers, and category management in SpendEdge’s upcoming report on the global drilling fluids market.

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The Biggest Problems with Pharmaceutical Raw Materials Market, And How You Can Fix It

If you were to ever glance on the packaging of medicines, it would enlist the chemicals and composition used to manufacture that drug. However, chemicals are not the only raw material used in the pharmaceutical manufacturing process. Pharmaceutical raw materials also include natural raw materials like leaves, flowers, fruits, fungi, and seeds, in addition to synthetic materials and biologics. Pharmaceutical raw materials are classified into three groups namely active pharmaceutical ingredients (APIs), intermediaries, and additives. The pharmaceutical industry relies heavily on chemical suppliers and biologics manufacturers for their pharmaceutical supplies. The pharmaceutical industry has been witnessing stable growth with higher growth prospects in emerging regions such as the APAC, which is expected to grow at a CAGR of nearly 9%-10% by 2021. (SpendEdge Procurement Market Intelligence Report – Bulk Drug Raw Materials Market) Although the growth prospects look promising for the pharmaceutical industry, suppliers of pharmaceutical raw materials have been facing tough challenges that affect their growth.

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Top Challenges in the Pharmaceutical Raw Materials Market

Threat from Counterfeit Products

Falsified medicines or counterfeit drug products can easily enter the pharma supply chain across the world. Counterfeit drugs, usually contain low-quality APIs, wrong ingredient, or even the incorrect dosages. Such counterfeit products are then fraudulently mislabeled without compliance with intellectual property rights and can cause side-effects and other complexities when consumed. Pharmaceutical raw materials manufacturers will be negatively affected by such acts. As a result, medicine surveillance services and fake -identification technologies such as mass spectrometry (MS), infra-red (FTIR) spectroscopy, nuclear magnetic resonance (NMR) spectroscopy, Raman spectroscopy, and gas chromatography-mass spectrometry (GC-MS) are gaining prominence.

Increase in Trade Taxes

Manufacturing hubs of the final drug products are located in the primary markets such as the US and Europe. However, these companies procure pharmaceutical raw materials from emerging countries like Brazil, China, India, and Israel. The problem arises when drug manufacturers have to incur additional expenses in the form of trade taxes and customs expenses. To promote “Made in America” movement, the Trump administration has slapped a double-digit tariff for companies outsourcing drug manufacturing activities. Such regulations will discourage drug manufacturers to obtain pharmaceutical raw materials at a lower cost.

Increase in Regulatory Delays

Drugs and medicines being a sensitive matter regarding public health, are heavily regulated by governments and medical associations. Pharmaceutical raw materials suppliers, therefore, must obtain approval from regulatory bodies such as FDA and EMA to bring the final products to the market. Delays in the approval process can slow down the time-to-market, and risk expiry of patent validity along with other operational issues. Such delays severely affect the drug manufacturers profitability, thereby hindering the overall growth of the market.

Read more about the top challenges in the pharmaceutical raw materials market along with competitive landscape analysis, contract and SLA terms, pricing strategies, sourcing strategy, and procurement market intelligence in SpendEdge’s upcoming report on the global beef market.

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Procurement Research Report on the Global Acrylic Acid Market Now Available from SpendEdge

The increase in demand for acrylate esters and superabsorbent polymers is the major driver for the growth of the global acrylic acid market.

LONDON: The procurement research report on the acrylic acid market is a crucial part of SpendEdge’s chemicals category portfolio and offers an all-inclusive analysis of the key factors influencing the procurement decisions, supply market, pricing models, and procurement best practices. Furthermore, it also offers an in-depth analysis of the supply chain management, key market developments, and demand-supply shifts to help sourcing and procurement experts make smart procurement decisions.

Superabsorbent polymers are manufactured using acrylic acid along with sodium hydroxide which is used to absorb water and other aqueous solutions. These are used in end-user applications such as diapers, female hygiene products, and adult incontinence products. With the increase in demand for diapers and changing lifestyles and increase in disposable income  in emerging economies such as China and India, the market growth for the global acrylic market is at a fast pace.

“Purchasing managers must engage with suppliers that invest in R&D activities to enhance their manufacturing processes,” says Anil Seth, a chemicals industry procurement research specialist at SpendEdge. “This is because better manufacturing processes can help improve production efficiency and quality of end-product,” added Anil.

Acrylic acid is a hazardous and highly toxic chemical, suppliers of acrylic acid need to comply with various regulatory norms such as EHS laws. However, long supply chains and lack of in-house expertise make it difficult for purchasing managers to conduct continuous audits that help in monitoring compliance with these requirements.

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This procurement report on the acrylic acid 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

 

 

Get unlimited access to all our reports. Our Insights platform ready-to-use procurement research reports, latest supplier news, innovation landscape, markets insights, supplier tracking, and much more at the click of a button. Request a free demo now

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Procurement Research Report on the Global Phosphate Market Now Available from SpendEdge

The fertilizer industry is the major source of demand for phosphates, wherein phosphate-based fertilizers such as MAP and DAP are used for replenishing the natural phosphorus in the soil that is indispensable for crop production.

LONDON: The procurement research report on the phosphate market is an indispensable part of SpendEdge’s chemicals category portfolio and offers an exhaustive analysis of the key factors influencing the supply market, strategic procurement and sourcing decisions, pricing models, and procurement best practices. Furthermore, it also offers profound insights into the supply chain management, key market developments, and demand-supply shifts to help sourcing and procurement experts make smart procurement decisions.

Anti-corrosion coating is a protective coating used to protect material surfaces from degradation caused by oxidation, moisture, and chemicals and bases by forming a barrier between the surface and the corrosive agent. The anti-corrosion coatings market is estimated to grow because of huge losses incurred by manufacturers due to corrosion of metal products. This will lead to the growth of the global phosphate market.

“Purchasing managers must look for suppliers that have large production capacities to meet demand during sowing seasons when the demand for fertilizers is on the rise,” says Anil Seth, a chemicals industry procurement research specialist at SpendEdge.

Most of the phosphate reserves are geographically concentrated with the largest reserve located in Morocco. Iraq, China, Algeria, Syria, Jordan, South Africa, the US, and Russia are other countries with significant phosphate reserves. As phosphate reserves are geographically concentrated, purchasing managers face sourcing limitations. Moreover, due to concentrated reserves, purchasing managers might have to pay higher costs for procuring phosphates as well as manage long supply chains.

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This procurement report on the phosphate 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

 

 

Get unlimited access to all our reports. Our Insights platform ready-to-use procurement research reports, latest supplier news, innovation landscape, markets insights, supplier tracking, and much more at the click of a button. Request a free demo now

 

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Top 5 Suppliers in the Natural Fragrance Ingredients Market

Natural and organic products have been the trend among the health fanatics. Recently, there has been a lot of debate on the use of synthetic fragrances, which contains ingredients that are carcinogenic or endocrine disruptors. The fragrance industry has devised a product to address such threats, namely natural fragrance. Natural fragrances are made from high-quality natural ingredients such as essential oils, isolates, exudates, and flower-based extracts, which are completely free from synthetics and petrochemicals. Amaryllis, bay leaf oil, bergamot, cedarwood oil, citronella, clove, vanilla, galbanum, gardenia, geranium, ginger, hyacinth, lavender, and rose are some of the commonly used natural fragrance ingredients. Apart from their uses in personal care and beauty products; natural fragrances find application in areas including food and beverages, textile, home-care products, and dyers and perms.

Request Free SampleHere are the top 5 suppliers in the natural fragrance ingredients market:

Givaudan

One of the pioneers of the fragrant world, Givaudan started off by creating chemical fragrances in Zurich in 1895. Today, Givaudan is directly involved with growers to foster natural ingredient innovation. They have over 9,500 employees spread over 88 sites worldwide.

Firmenich SA

Founded in 1985, Firmenich SA is one of the world’s largest privately-owned fragrance and flavor company with a global presence in over 100 markets. Its perfumery plant in Geneva is considered one of the most highly automated sites within the fragrance industry.

Symrise AG

Symrise AG is one of the top F&F supplier in the world with a market share of 11% in 2016. Using natural products such as vanilla, citrus fruits, and plant materials they have a portfolio of nearly 30,000 products. The natural fragrance ingredients from Symrise AG is used in the production of perfumes, personal care products, cleaning products, and oral care products.

International Flavors & Fragrances Inc (IFF)

International Flavors & Fragrances Inc (IFF) has a long history of 128 years in the fragrance market. They have generated revenues of over US$ 3 billion by partnering with organizations such as Unilever, FIORE, Vapor Communications, and GLG Life Tech Corp.

BASF SE

BASF SE is the largest chemical producer in the world. After mastering the world of chemicals, BSAF SE has moved their attention towards natural fragrances using ingredients like lemon, lavender, and rose.  BASF SE partnered with two world-scale aroma ingredients sites in Malaysia and Germany to produce natural fragrances.

Read more about the top suppliers in the natural fragrances ingredients market along with supply market landscape, pricing, and procurement insights in SpendEdge’s upcoming report on the global natural fragrances ingredients market.

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Preview of Natural Fragrance Ingredients Market – Procurement Market Research Report

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Five Suppliers Affecting the Market Landscape of the Castor Oil Market

Castor oil is increasingly used by the consumer segment due to multiple health benefits associated with traditional medicine and modern medicine. Although, the application of castor oil is not limited only to such uses as it finds its way across various end-user applications such as fuel and biodiesel, polymer materials, soaps, fertilizers, coatings, and lubricants. A vast majority of castor oil is both produced and consumed in the APAC region with China and India being the two biggest producers. The production of such oil is highly dependent on climatic conditions and harvesting processes. Additionally, countries such as Brazil and South Africa are looking to implement an alternate breeding program for the commercial production of castor. The increasing scope for the usage of castor oil and its derivatives across multiple industrial applications is driving the growth of this market.

Request Free SampleHere are some of the top suppliers in this castor oil market:

Adani Wilmar Limited

Adani Wilmar is an Indian multinational company headquartered in Ahmedabad, India, generating revenues over US$5 billion. It diversifies its business across resource, logistics, agriculture, and energy sectors. It also boasts an extensive portfolio of brands in consumer essential edible oils segment. It is the industry leader in the castor oil market.

Jayant Agro-Organics Ltd

Jayant Agro-Organics Ltd is a global oleochemical company incorporated in 1992 and is one of the market leaders in castor-based specialty chemicals. It has partnered with high-profile companies like Itoh Chemicals Co. Ltd., SI Group, Mitsui Chemicals, and Arkema Group. The company substantially promotes renewable and eco-friendly energy sources.

Itoh Oil Chemicals Co. Ltd.

Itoh Oil Chemicals Co. Ltd. offers refined castor oil and its derivatives such as castor oil fatty acid and ricinoleic acid, hydrogenated castor oil, polymerized and dehydrated castor oil, blown castor oil, and ester wax. Apart from this, the company also offers specialty chemicals such as lubricant and processing oil materials, additives for coatings, printing inks, polyurethane resins, and adhesives.

Thai Castor Oil Industries Co. Ltd.

Thai Castor Oil Industries Co. Ltd. is one of the oldest company producing castor oil with a plant capacity to crush 40,000 tons of castor seeds every year. The company was formed as a collaboration between a leading Thai castor seed exporter and oldest castor seed crusher in Europe, Alberdingk Boley GmbH in 1977.

A.Azevedo Indústria e Comércio de Óleos Ltda.

Founded in 1965, A.Azevedo Indústria e Comércio de Óleos Ltda. Specializes its business in manufacturing soybean oil, cake, meal, and soybean protein isolates and concentrates. With its comprehensive portfolio of products, it is one of the most competitive market contenders in the castor oil market.

Read more about the top suppliers in the castor oil market along with supply market landscape, pricing, and procurement insights in SpendEdge’s upcoming report on the global castor oil market.

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Supplier Risk Assessment for a Chemical Industry Client Helps Pre-screen Suppliers by Category

Category Overview

Over the years, the global chemical industry has experienced strong M&A activities as companies are pursuing growth, realigning their portfolios, and increasing their focus on core competencies. Additionally, the growth of this industry can be attributed to the increasing urbanization in developing nation, which is driving infrastructure and public housing projects. However, according to the supplier risk management experts at SpendEdge, the fluctuating prices of raw materials and selecting the right supplier in this industry are some of the factors responsible for the sluggish growth of this market.

Consequently, to gain a stronger foothold in this market space, chemical industry companies across the globe have started opting for supplier risk management studies to pre-screen suppliers by category and develop better negotiation strategies.

The Procurement Pain Point and Insights Offered

A leading chemical industry firm wanted to trim down the list and build a due diligence plan. They also wanted recommendations on a risk-based approach to manage this issue. The chemical industry client also wanted to gain regular updates on the performance of the key suppliers and keep themselves informed about the latest developments in the supply market.request free proposal

The supplier risk management experts at SpendEdge conducted a comprehensive research methodology, which included primary and secondary research and qualitative and quantitative data collection methods to cater to the specific business requirements of the client. During the course of this supplier risk management study, the client was able to determine the level of due diligence to conduct on the higher-risk suppliers based on dollar spend and location. The client also gained insights into the performances of the key suppliers and the latest developments in the supply market. They also gained recommendations on a strategic risk-based approach to trim down the extensive list of suppliers and select the right suppliers by category.

Key questions answered in this supplier risk management study include

Supplier Risk ManagementBusiness Outcome

The supplier risk management solution helped the chemical industry client pre-screen suppliers by category and develop better negotiation strategies across the supply chain. Also, the due diligence map helped them build a smaller list of suppliers in particular categories.

Want to know more about our supplier risk management solutions?

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