World News: 15:10 GMT Thursday 30th May 2019. [SpendEdge via Businesswire via SPi World News]
SpendEdge, a global procurement market intelligence firm, has announced the release of their Global Plastic Resins Category - Procurement Market Intelligence Report.
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Global Plastic Resins Category - Procurement Market Intelligence Report. (Graphic: Business Wire)
The increasing frequency of construction activities across the globe will act as one of the significant demand drivers of the plastic resins category. Polyurethane, which is one of the plastic resins category segments, finds its extensive application to produce rigid foam for the construction industry. Among the other category segments, engineering plastic is expected to register a high spend growth owing to its beneficial properties such as lightweight, high strength, and resistance to extreme temperatures. Last year, the spend growth of the engineering plastic segment touched a value of USD 76.09 billion, and it is expected to grow at a stable rate during the forecast period, thereby propelling the spend momentum of the plastic resins category. Download the free sample copy of this plastic resins procurement research report.
The spend growth of the plastic resins category can be traced in the US and APAC, where the food and beverage industry accounts for extensive adoption of flexible packaging. This is propelling the demand for plastic resins to a large extent. Meanwhile, in North America and Europe, the adoption of plastic resins to replace metal, ceramics, and other substances to manufacture medical devices and a high requirement from the automotive industry are driving the category growth to a significant extent.
This plastic resins procurement research report offers a comprehensive analysis of the major cost drivers and its subsequent impact on the overall pricing. Current supply market forecasts and the spend opportunities for the suppliers are also offered in this plastic resins procurement research report. In this report, the category spend is analyzed from the perspective of the buyers and the suppliers.
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“Buyers are advised to partner with suppliers that have local manufacturing or distribution centers which can help save transportation costs as plastics typically require to be transported in bulk,” says SpendEdge procurement expert Tridib Bora.
This plastic resins market intelligence report has estimated that the following cost drivers will influence the category growth in the following years:
SpendEdge is now offering limited-time discounts on report purchases. Buy two reports and get the third one for free.
SpendEdge’sreports for the category provide detailed supply market forecasts and information on cost drivers that impact category growth. Such information will help procurement managers as well as the suppliers to determine the total cost of ownership and change their procurement strategies accordingly. Additionally, SpendEdge’s reports provide category management insights and information on the procurement best practices for the category.
Report scope snapshot: Plastic resins
US market insights
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Business Wire: 15:10 GMT Thursday 30th May 2019
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