Oct 13, 2017   SOURCE: BusinessWire

Plastic Resins Market Procurement Research – Pricing Trends and Forecast by SpendEdge

Global procurement market intelligence advisory firm, SpendEdge, has announced the release of their 'Plastic Resins Procurement Research Report.' The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the chemicals industry. This report breaks down the data and analysis behind the procurement of plastic resins and acts as an all-inclusive guide for making smart purchasing decisions.

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Global Plastic Resins Procurement Market Intelligence Report (Graphic: Business Wire)

Global Plastic Resins Procurement Market Intelligence Report (Graphic: Business Wire)

"Materials used in the production of resins are crude oil, cellulose, coal, natural gas, and salt. The production process begins with the distillation of oil and is conducted in oil refineries where heavier crude oil is separated into lighter groups called fractions," says SpendEdge procurement research analyst Anil Seth. "One of these fractions called naphtha is the crucial element for plastic production. The other key elements that are essential for the production of resins are utilities such as coal and natural gas," added Anil.

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Key Report Features

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

Report Insights

  • The plastic resins industry is expected to grow primarily due to the increasing demand from key market segments such as packaging, construction, FMCG, and automotive.
  • Plastic resin prices are mainly influenced by the cost of fuels such as crude oil and natural gas. Even a small increase/ decrease in crude oil or natural gas prices may affect the prices of plastic resins. Furthermore, labor cost is another key driver for the production of plastic resins.
  • Purchasing managers must partner with suppliers that are in close proximity to save transportation costs as plastics need to be transported in bulk. They must choose suppliers from the same time zone to establish continual contact.

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Plastic Resins Pricing Trends

The credit pricing is mostly used by purchasing managers as it creates a win-win situation for both stakeholders. Adoption of credit pricing by purchasing managers can be considered as a cheap form of working capital finance with no interest attached if dues are paid within the credit period. Furthermore, purchasing managers can get a discount on payments if they pay dues before the credit period.

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SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred procurement market intelligence partner for Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence that helps sourcing and procurement professionals make informed decisions. These innovative procurement solutions help enterprises transform structural capabilities, improve execution efficiency, and fast-track time to savings.