Procurement Intelligence Study Report

Hydroxychloroquine Category Overview The global hydroxychloroquine category is expected to grow at a CAGR of 10.1% from 2023 to 2030. It is anticipated to be driven by the increasing prevalence of diseases like rheumatoid arthritis and malaria in low-income nations, increasing penetration of generic drugs, advancement of medical sciences, research & development in the pharmaceutical sector, increased government and consumer healthcare spending on drugs and medications, rising awareness towards health, and growing population. In addition, the category has witnessed a significant surge in its demand since past few years owing to certain studies that have demonstrated its effectiveness against the COVID-19 virus. As a result, many key players in the market have revamped their production capacity to produce and deliver higher amounts of hydroxychloroquine across the globe. Order your copy of the Hydroxychloroquine Procurement Intelligence Report, 2023 - 2030 , published by Grand Vie...

The HDPE (High Density Polyethylene) category is expected to grow at a CAGR of 4.45% from 2023 to 2030. Factors such as high ductility, excellent chemical resistance, increased impact strength, and reduced weight allow HDPE to be used in varied industries. Wide applications of this product in automotive, packaging, healthcare & pharmaceuticals, infrastructure & construction, electrical & electronics, and agricultural industries are fueling the category growth. It is majorly being used in the form of products such as detergent bottles, food wraps, shopping bags, and automobile fuel tanks, globally. The packaging industry holds the largest segment in the category accounting for 45%-50% of the total share. Research & development and technological innovation in High Density Polyethylene bag design and manufacturing are further driving the category growth. The global HDPE category size was valued at USD 75.43 billion in 2022. One of the key trends is the increasing R&D ...

Glycol Ethers Category Overview The glycol ethers category is expected to grow at a CAGR of 5.74% from 2023 to 2030. There is a growing urbanization and an increase in the number of construction projects that led to rising demand for paint and coatings activities, which in turn is expected to drive the category growth. Glycol ether's rapid drying time and better printing quality make it beneficial for the printing industry. Further, glycol ethers are utilized in a variety of personal care items, including sunscreens and cosmetics. It has a high boiling point and superior solvent characteristics, which make the molecule a crucial reagent in the production of numerous personal care products which will drive the glycol ethers market growth. The Asia-Pacific region accounts for the largest category share in 2020 as the region's rapidly growing population has increased global demand for a wide range of commodities for industries such as automobiles, pharmaceuticals, and personal c...

Glass Bottles Category Overview The glass bottles category is anticipated to grow at a CAGR of 4.5% from 2023 to 2030. In 2022, the category size was estimated to be valued at USD 40.37 billion. The increasing preference for glass over plastic and its extensive use in industries such as pharmaceuticals, cosmetics, food and beverages, and chemicals due to factors such as - recyclability and reusability, lower carbon footprint, inertness, and longer shelf life, contribute to the growing demand for the category. Glass bottles are also seen as a form of premium packaging particularly in the food and beverages industry. The largest market for glass bottles and containers in the world is currently Europe. The primary force behind the growth of glass bottles is the rising global consumption of alcoholic beverages. Glass bottles and containers are used in the packaging of beverages in a variety of ways, and nations like Germany, Russia, and France account for up to 40% of the European market...

Hydrochloric Acid Category Overview The hydrochloric acid category is anticipated to grow at a CAGR of 6.6% from 2023 to 2030. The rising usage of hydrochloric acid from various end-use industries such as food and beverages, dyes, pigments, steel pickling, water & wastewater treatment, and others is anticipated to drive the category growth. The category is mainly driven by demand in wastewater treatment to adjust pH levels and enhance water quality. A wide range of food products such as cold drinks, cereals, and corn syrups used in biscuits are processed using hydrochloric acid. Waterborne diseases are a major concern in African countries such as Nigeria. According to UNICEF 2022 report, around 70% of water at the time of consumption is contaminated. Additionally, the U.N. agency stated that contamination is the reason Nigeria has the world’s highest number of deaths due to waterborne diseases among children between five years old. To tackle such problems various government ...

Fertilizer Category Overview The fertilizer category is expected to grow at a CAGR of 3.4% from 2023 to 2030. The rise in global population and increasing demand for food is expected to drive the category growth. The world's population has witnessed a remarkable rise, approximately three times larger than it was in the middle of the twentieth century. To accomplish the rising need for food as the world's population grows, it is urgent to boost the production of agricultural products. Fertilizers are important for modern agriculture because they give crops the required nutrients and increase soil fertility & crop yields. The demand for animal feed is also being driven by shifting dietary habits and the move towards more protein-rich diets in emerging nations. As a result, it is driving up the demand for fertilizers used in the cultivation of forage and pasture. Further, integrating fertilizers for optimal crop production has become increasingly important due to the adoptio...

Gold Category Overview The gold category is anticipated to grow at a CAGR of 3.0% from 2023 to 2030. Gold prices ended at a marginally higher level in 2022, despite rising global interest rates, and fluctuation in the U.S. dollar. According to the World Gold Council report, the annual gold demand surged by 18% to reach 4,741t in 2022. Gold demand for investment purposes (excluding OTC) increased by 10% in 2022 and reached 1,107t. The demand for gold coins and bars increased by 2% to reach 1,217t in 2022. A strong rise in demand for gold in the Middle East, Turkey, and Europe offset a slowdown in China where demand was impacted negatively due to the pandemic factors throughout 2022. Technological advancements in gold mining are making the process cleaner, smarter, and more efficient. Digitization, electrification, and automation in mines are becoming common elements reshaping the process. Apart from the various ways in which technology has influenced the price of gold in the investmen...

Crude Oil Procurement Intelligence The crude oil category is expected to grow at a CAGR of 3.42% from 2023 to 2030. APAC accounts for the largest share of the category. The rising energy demand across the world, as well as the adoption of unconventional exploration and production technology, are driving category growth. Major corporations are employing a variety of strategies, such as mergers and acquisitions, strategic partnerships and contracts, and the development, testing, and release of new products. For instance, In July 2023, Aramco completed a USD 3.4 billion transaction to purchase a 10% stake in Rongsheng Petrochemical Co. Ltd. through its Dutch subsidiary Aramco Overseas Company BV. Under this deal, the company will be able to deliver 480,000 barrels per day of crude oil to Zhejiang Petroleum and Chemical Co. Ltd (ZPC) in a long-term sale agreement. To communicate between various machinery & equipment engaged during crude oil production, artificial intelligenc...

The employee background screening services category is expected to grow at a CAGR of 9.9% from 2023 to 2030. There is an increased requirement for regulatory compliance as governments around the world are increasingly enacting regulations that require employers to conduct background checks on their employees. The increasing number of businesses hiring remote workers is also driving the growth of this category which has led to the increased demand for background checks, as businesses need to ensure they are hiring safe and reliable employees. Background checks are crucial for employers to identify potential threats to workplace safety and fraud, as they can identify employees with a history of violence or criminal activity, as well as those with financial issues, and poor employment history. The global employee background screening servicescategory size was valued at USD 5.36 billion in 2022. Governments worldwide are mandating employers to conduct background checks on employees, p...

Customer Relationship Management (CRM) Procurement Intelligence The customer relationship management category is expected to grow at a CAGR of 13.9% from 2023 to 2030. The persistent need for creative approaches to gather essential customer data, assess customer details, and convert them into an enhanced strategy for customer experience stands as a driving force behind the adoption of customer relationship management (CRM) solutions across businesses of all scales. The CRM analytics search insights aid salesforce clients in uncovering relevant datasets, dashboards, and optimal groupings aligned with their searches. These advancements in CRM solutions and services are poised to potentially enhance category expansion. The rising trend of customers utilizing digital channels for interactions with brands and organizations is expected to be a driving force behind the growth of the customer relationship management industry in the foreseeable future. Order your copy of the Custome...

Fuel Oil Category Overview The fuel oil category is anticipated to grow at a CAGR of 4.8% from 2023 to 2030. The category is mainly driven by the demand, supply, and prices of crude oil. Oil prices are mainly affected by Russia’s ability to produce and export oil, and the ability to increase production by various non-OPEC countries. According to the U.S. Energy Information Administration, Crude oil prices have exhibited a general downward trend since March 2022 at the time when Russia's full-scale invasion of Ukraine has caused Brent crude oil prices to go above USD 130 per barrel. This invasion took place during a period of low oil inventories, and the potential for sanctions or operational disturbances in Russia's oil production further contributed to the upward price pressure. Subsequently, the descent in crude oil prices can be attributed primarily to the deceleration in global economic expansion and a reduction in oil consumption. Fuel oil is the residual product remaini...