Global Toluene Category - Procurement Market Intelligence Report
About Toluene Market
Governments in some countries have mandated the maintenance of a minimum octane level in automotive fuels such as gasoline, as lower the octane level of fuel, higher its CO₂ emission. Suppliers of automotive fuels can either improve the purity level of their fuels or use a high-octane additive such as toluene to increase their octane levels, and suppliers prefer the latter due to its overall cost-effectiveness. Toluene has an octane rating of 114, which is higher than ethanol, another popular additive for fuels.
Covered in this report
The report provides actionable insights to improve source-to-contract cycle performance in the Global Toluene Market. It helps sourcing professionals formulate better category strategies, enhance savings, understand supplier and market challenges, and implement sourcing best practices.
SpendEdge’s report, Global Toluene Market, provides up-to-date information about market shifts and potential risks, as well as in-depth knowledge of products and services, which can help in planning and in executing category management activities. It focuses on the cost-saving aspects of procurement and on providing insights that can lead to optimization of category spend.
SpendEdge Announces the Publication of its Procurement Research Report – Global Toluene Category - Procurement Market Intelligence Report 2017-2021.
SpendEdge recognizes the following companies as the key suppliers in the Global Toluene Category - Procurement Market Intelligence Report: Royal Dutch Shell, ExxonMobil, BP, SK Group, and CNPC.
Commenting on the report, an analyst from SpendEdge said: “Buyers must procure toluene from suppliers that have adopted sustainability practices over the years. Some of these practices include procurement of renewable raw materials and investment in research on replacement of raw materials derived from crude oil.”
According to the report, one of the key growth contributors for the global toluene market is the growing demand from the automotive fuel industry. Governments in some countries have mandated the maintenance of a minimum octane level in automotive fuels such as gasoline.
Further, the report states that a major procurement challenge faced by the buyers is the additional investments in monitoring suppliers’ compliance with labor laws. It is pertinent for buyers to evaluate and assess suppliers’ compliance with labor laws and international standards regarding workplace conditions.
Royal Dutch Shell, ExxonMobil, BP, SK Group, and CNPC.