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5 Things to Know about Chemical Suppliers by Asit Roy
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5 Things to Know about Chemical Suppliers |
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Business
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Today chemical industry is characterized by the features that exhibit in two faces of the coin. These are positivity and insecurity because the international economy has already entered its most disturbing phase which is further associated with instability and risk. But there is some ray of hope for Indian chemical sourcing industry. To more about this industry read further.
Indian chemical sourcing is fast developing into a hub for specialty chemicals for industries like rubber, textiles, paper and paint. Most industry giants are sourcing up their team in India which is sure open up employment to number of chemical suppliers. For example the newly started chemical company of the Bayer Group is planning to source chemicals of worth $20m from India for its world-wide operations. Their main business is to source chemicals for industry verticals like leather, pharmaceutical companies and textile for their overall global operations. Therefore the company will increase its chemicals suppliers from India by 30% in next few years. Here are 5 things you need to know about a chemical supplier:
Check the Quality
Chemical is a substance that no company would like to compromise on its quality so it is always better to compare the cost and quality metrics before dealing with any chemical company. Even the second largest chemical supply company DuPont sees huge market in India to procure specialty chemicals to meet its global customers. The company started chemical sourcing in India in 2003 and its target is to increase its suppliers from India to nearly four times. Recently Netherland based DSM NV the number one makers of industrial chemicals and performance chemicals has already closed its operations in US and Canada in order to start its offices in China and India as part of its visionary project.
Go for Cost Effective Suppliers
Many large and mid-sized companies like TFL leather, Syngenta, Sun Chemical and Coyne Chemicals are planning to consider India for chemical sourcing. According to a report carried out by MCkinsey, Indian specialty chemical industry has grown to $2bn in 2002-03 and it is ready to make its mark by touching $12-13 by 2015. Sourcing of chemicals to India is due to low cost of research.
Know the Source of Hassle-free Raw Materials
Chemical industries use raw materials, polymers and chemicals in bulk to manufacture their final products. With the help of sourcing, global companies can easily avail bulk materials which are much hassle free in comparison to other options.
It’s an Expensive Industry
Chemical industry is an expensive industry because it entails heavy capital like labor cost, production procedure, and heavy cost of raw materials. In this industry nothing is cheap so to maintain reliability and profitability; it is always good to reduce costs which are only possible through chemical sourcing.
Search the Ultimate Sourcing Destination
India is one of the most significant chemical suppliers in the world and it is considered to be an important trade destination by various chemical markets across the globe. International companies have already saved on their part by setting up a separate manufacturing unit that enable chemical industries around the world to purchase chemicals and polymers from several Indian companies.
Added to all these even Indian chemical exporters and importers should have deep understanding about this business and set an example for others that are planning to plunge in this industry.
About Author:
Asit Roy works with KPL International Limited - is one of the best chemical company in India, specializes in the marketing of quality products in India. He likes to write about chemicals, polymers, paper and paper chemicals related topics.
Related Articles -
Chemicals Suppliers, Chemical Sourcing,
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