Propylene Glycol Procurement Intelligence 2030 : Propylene Glycol Category To Is Expected To Expand At A CAGR Of 6.1%Posted by rahul nikade on May 3rd, 2024 Propylene Glycol Procurement Intelligence The procurement of propylene glycol usually entails the sourcing of this synthetic organic compound, primarily for applications such as polyurethane production, cosmetics, anti-freeze, pharmaceuticals, and food additives. The global propylene glycol market is predicted to grow at a CAGR of 6.1% from 2024 to 2030. Key factors driving the growth of this industry include rising demand from food & beverages, growing usage in cosmetics and personal care products such as skin care and toiletries, expanding applications in pharmaceuticals, rising demand for petroleum-based propylene glycol, and a recent drop in crude oil prices. For instance, recently, the crude oil (brent) prices dropped from USD 91 / barrel in October 2023 to USD 80 / barrel in February 2024. This reduced production costs for propylene glycol suppliers, drove down its prices, and improved its demand from downstream industries. Market sentiment for propylene glycol also improved in this period. Order your copy of the Propylene Glycol category procurement intelligence report 2024-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis Propylene Glycol Procurement Intelligence Report Scope The Propylene Glycol category is expected to have pricing growth outlook of 5% - 10% increase (Annually) from 2024 to 2030, with below pricing models.
Supplier Selection Scope of Report
Supplier selection criteria of Report
Propylene Glycol Procurement Intelligence Report Coverage Grand View Research will cover the following aspects in the report:
Propylene Glycol Procurement Cost and Supplier Intelligence Raw materials, labor, equipment, packaging, and logistics are some of the key costs associated with the production of this material. Other cost components comprise rent & utilities, R&D, compliance, general and administration, sales and marketing, and taxes. Raw materials and labor embrace the largest segment of the cost structure. Key suppliers generally adopt the cost-plus pricing model for pricing their products. Key reasons affecting product prices include fluctuations in the prices of raw materials such as propylene oxide, glycerol, and catalysts (such as sulfuric acid and sodium hydroxide). Other reasons include variations in labor costs, changes in energy costs, and geographic location-based price fluctuations. For instance, in Q1 2023, prices of propylene oxide in China increased by 130 USD per metric ton as compared to its Q4 2022 prices. On the other hand, prices of propylene oxide in Brazil declined in Q1 2023 by 243 USD per metric ton as compared to its previous quarter prices. In North America, average prices of propylene oxide stood at USD 1.32 / KG in March 2024, 3.9% up from February 2024. In Europe, the average propylene oxide prices in March 2024 were USD 1.7 / KG, rising 3% as compared to the previous month. List of Key Suppliers
Add-on Services provided by Grand View Research Pipeline:
Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process
Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier
Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.
A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc. Browse through Grand View Research’s collection of procurement intelligence studies:
Brief about Pipeline by Grand View Research: A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions. Our services include (not limited to):
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