According to the latest procurement market intelligence report from Technavio, the global market for glycidyl methacrylate (GMA) monomers is expected to grow at a CAGR of 7.9% over the next five years due to increase in demand from the infrastructure sector.

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Technavio has published a new report on the global market for GMA monomers from 2016-2020. (Graphic: Business Wire)

The research report titled ‘Global GMA Monomers: Procurement Intelligence Report 2016-2020’ provides an in-depth analysis of category spend, best procurement practices and cost saving opportunities, aimed at helping organizations achieve superior business performance. The report also provides insights on pricing, supplier positioning and top companies, enabling sourcing professionals to improve their competitive advantage through procurement excellence.

“During the forecast period, the growth in the infrastructure segment, especially in BRICS, has created demand for products in which GMA is a primary component such as radiation-curable coatings, adhesives, electrical laminates, and plastic modifiers,” says lead Technavio procurement specialist Angad Singh for category spend intelligence. “In addition, increased demand from manufacturers of high-performance automotive products, where GMA is used to coat connected components to mitigate problems such as heat, wear, corrosion, and friction, will also drive the market,” adds Angad.

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Cost Saving Opportunities in the GMA Monomers Market

The adoption of various cost-optimization levers helps buyers of GMA monomers realize direct cost savings and enhance category management and value benefits (including reduced procurement complexities).

Technavio procurement experts have segmented the cost saving opportunities in the GMA monomers market into the following value-enhancement opportunities:

  • Adoption of technology
  • Supplier Competition
  • Adoption of negotiation strategies
  • Optimization of procurement practices
  • Bundling of services

Adoption of technology saving aspects

Implementation of enterprise resource planning (ERP) systems help buyers enhance inventory management and provide visibility across different departments of organizations, resulting in effective management of resources ensuring quality and efficiency. This can help generate cost-savings to the extent of 15%.

Supplier Competition saving aspects

Compliance with regulatory requirements is critical in the global GMA monomers market. As GMA is listed under “materials causing immediate and serious toxic effects” by WHMIS, its procurement requires prior approval from regional regulatory bodies. Moreover, regulatory bodies also direct buyers on the specific requirements for storage and use of the monomers. Technavio analysts suggest suppliers should have access to proper storage facilities that help maintain monomers’ stability during storage.

Both suppliers and buyers should ensure adequate knowledge and implementation of safety equipment pertaining to the use and storage of GMA before procuring the chemical. For instance, GMA can be absorbed by the body via inhalation. Hence, both suppliers and buyers should ensure the availability of effective protective masks for employees handling the product.

Bundling of services saving aspects

One of the most opportunistic strategic cost saving levers in the global GMA monomers market is the bundling of services such as handling of chemicals and logistics management. Suppliers must offer proper training with respect to safe handling and work procedures that need to be followed by workers who handle GMA as it is a very toxic chemical. GMA suppliers should possess the ability to properly utilize equipment such as fume cupboards as such facilities are mandatory for the handling of chemicals that produce corrosive fumes.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 630 333 9501UK: +44 208 123 1770www.technavio.com