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Procurement Market Intelligence Report

Paraffins
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Paraffins?

What is the average price of Paraffins?

This procurement report includes pricing information to help you purchase Paraffins. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Paraffins been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Paraffins yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Paraffins?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Paraffins with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase Paraffins?

ProcurementIQ estimates that there are about 754 suppliers providing paraffin wax products to the domestic market. There are high capital costs and barriers to entry in operating petroleum refineries. The additional competition from imports makes it harder for smaller vendors to compete domestically. As a result, the top four suppliers... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Supply & Demand

Do you have any processes in place to cope with supply and demand imbalance?

Have you ever been unable to fulfill an order because demand exceeded your available supply? How did you cope with this issue?

Have you ever experienced a time when your level of supply exceeded demand? What did you do in this situation?

If a client requests more paraffin than originally planned, what processes are in place to ensure their level of need is met? What impact does this have on the price of the paraffin?

Operational Capacity

When was the last time your facilities were upgraded?

What percentage of your revenue is reserved for technological investment?

Do you have any future upgrades planned?

How stable are your operations in producing paraffin wax? Will new facility upgrades disrupt production?

Quality

How do you ensure that your products meet or exceed their technical specifications?

What types of quality control standards do you have in place?

Have your products ever performed below expectation? What did you do to remedy the situation?

If a product does not meet the technical requirements, what steps are taken to ensure the delivery of a satisfactory product?

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Key elements for every RFP

What should my Paraffins RFP include?

Project Budget

Buyers should include the budgeting fees for transporting the paraffin wax to their location.

Buyers should state how often pricing can be adjusted.

Buyers should provide the details for converting to a fixed price.

Buyers should define payment schedules and a cost breakdown.

Selection Criteria

Buyers should evaluate suppliers on whether they price competitively.

Buyers should give priority to suppliers that are flexible with contract terms and conditions.

Buyers should request references from current and former clients.

For other selection criteria requirements, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers should disclose the RFP's issue date.

Buyers should disclose the due date for any questions or clarifications from suppliers.

Buyers should disclose when they will answer any questions or clarifications.

Buyers should disclose the date of the award announcement.

Buyers should list the expected start date once a supplier is chosen.

Evaluate major factors to mitigate risk

How risky is the Paraffins supply chain?

On average, the paraffin wax market has a high level of risk throughout its supply chain. Reliance on crude oil production and imports are significant factors that drive the level of risk upward. Ultimately, though, the lubricant oil market has cut into demand for paraffin wax, thus signaling suppliers that... Subscribe to learn more.

HIGH

MEDIUM

LOW