Global Solvents Market Procurement Research Report – Forecast and Analysis by SpendEdge

Global procurement market intelligence advisory firm, SpendEdge, has announced the release of their ‘Solvents 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 solvents and acts as an all-inclusive guide for making smart purchasing decisions.

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Global Solvents Procurement Market Intelligence Report (Graphic: Business Wire)

“The global solvents market is expected to grow during the forecast period due to a high demand for solvents from the thriving global paints and coatings market,” says SpendEdge procurement research analyst Anil Seth. “Solvents are predominantly used as a blending material in pharmaceuticals and extensively adopted in industrial and household cleaning,” added Anil.

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Key Report Features

Report Insights

• The increased use of solvents as raw materials and intermediate products in industries such as paints, coatings, adhesives, and sealants has been registering a substantial increase due to the growth of the construction and automotive sectors, especially in regions such as APAC, North America, and Europe.
• Procurement managers need to engage with suppliers who can provide eco-friendly and sustainable solvent solutions (green solvents or bio solvents) due to the regulations pertaining to minimizing the use of VOCs.
• Procurement managers find it difficult to estimate procurement budgets due to the highly volatile prices of raw materials, such as crude oil, mercury, sulfur, and bromine. The lack of market knowledge on price fluctuations can be a disadvantage for procurement managers. This may lead to losses by paying more than the prevailing market prices due to contractual obligations.

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Solvents Pricing Trends

The spot pricing and volume-based pricing are the two most widely accepted pricing models in the solvents market. The volume-based pricing helps reduce the management efforts as it is not required to constantly monitor solvent prices because prices remain fixed for a contract tenure. Furthermore, it also enables procurement managers to estimate operating cost which further assists end-user industries to sfix prices for the product.

The spot pricing enables procurement managers to obtain cost savings by capitalizing on market fluctuations and by optimizing the time of purchase through efficient price forecasting tools.

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About SpendEdge

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.

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