Cost Saving Opportunities for the Global GMA Monomers 2016-2020: Technavio
January 23 2017 - 11:43AM
Business Wire
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.
Request a sample report:
http://www.technavio.com/request-a-sample?report=54097
Technavio sample reports are free of charge and contain multiple
sections of the report including the market size and forecast,
drivers, challenges, trends, and more.
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