SpendEdge Forecasts a Spend Growth of over USD 9 Billion for the Dyes and Pigments Market
LONDON--(BUSINESS WIRE)--Nov 26, 2019--
SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Dyes and Pigments Market - Procurement Intelligence Report.
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Global Dyes and Pigments Market Procurement Intelligence Report. (Graphic: Business Wire)
This spend growth will be attributed to the increasing demand for organic pigments that is a result of consumer’s preference for organic clothing. This is expected to drive the spend momentum of this market at a CAGR of over 4% between 2018-2023. Despite implications of growth, a substantial hike in raw material price will spike suppliers’ OPEX which will have a significant inflationary impact on buyer’s procurement spend in the dyes and pigments market.
Rising procurement expenditure in the dyes and pigments market is severely eschewing the buyer’s ROI. Various spend accelerators will further add to this expenditure. Download a free samplereport of this dyes and pigments market procurement intelligence report to get instant access to the strategies to contain such an inflating expenditure.
Dyes and Pigments Spend Analysis Insight
Forecasts of price rise in the crude oil market will herald extreme volatilities in the global business scenario. One of such volatilities that will pose as a prominent spend accelerator in the dyes and pigments market is the raw material price. According to the dyes and pigments spend analysis, the upward trend of the global crude oil price will increase the prices of raw materials such as benzene, sulfuric acid that will have inflationary impacts on the production expenditure of suppliers.
While strategic supplier partnership is crucial to optimize procurement spend, lack of real-time insights into the current supply market scenario results in sub-optimal partnerships. Get complimentary access to our procurement platform to gain immediate access to supplier selection strategies.
Insight into Dyes and Pigments Procurement Strategy to Address Market Price Increase
“ Strategic selection of suppliers will be an intrinsic category management objective for buyers to address the increase in the raw material prices in the dyes and pigments market,” says SpendEdge procurement expert Sumit Yadav.
Want to know what are the price trends that are changing the procurement outlook in the dyes and pigments market? Subscribe to our free procurement platform to get regular and real-time insights into price trends, procurement strategies, supply market scenarios, and many more on this market.
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INDUSTRY KEYWORD: FASHION RETAIL CHEMICALS/PLASTICS ENVIRONMENT OIL/GAS MANUFACTURING ENERGY
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