The price of hazardous waste containers has decreased during the past three years due to falling input costs, which have yielded lower prices for buyers.
Los Angeles, CA (PRWEB) August 24, 2014
Hazardous waste containers have a buyer power score of 3.4 out of 5. This score signifies that buyers have a medium level of purchasing power during the negotiation process. According to IBISWorld analyst Deonta Smith, buyers derive power primarily from low market share concentration and a low level of product specialization. However, the low availability of substitutes negatively impacts buyer power.
A wide range of vendors offer hazardous waste containers. As such, buyers can look to hazardous waste container manufacturers, such as Grayling Industries, or larger distributors, such as Airgas Inc., to procure these products. Buyers can also procure products from smaller, locally based manufacturers, which only offer standard hazmat containers. Although wholesalers comprise the majority of suppliers, manufacturing vendors have gained market share by dominating specific markets (e.g. healthcare). However, because many wholesalers operate on a local or regional level, they have access to a limited number of buyers that they can serve; having a wide selection of vendors to choose from increases buyer power, continues Smith.
Likewise, the low level of specialization for hazardous waste containers benefits buyers. Some buyers may require slightly customized products or unique specifications. For example, when dealing with highly rated corrosives and contaminants, buyers are required to procure containers with customized features, such as ventilation and spill containment systems. Nevertheless, most vendors provide these add-ons, which further expands a buyer's vendor options.
On the other hand, there are some factors working against buyers of hazardous waste containers. Hazardous waste containers are necessary products for which there are no substitutes. The lack of alternatives reduces a buyer's leverage during the negotiation process because buyers have no other option for hazardous waste disposal and storage. For more information, visit IBISWorld’s Hazardous Waste Containers procurement category market research report page.
Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld.
Like IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189.
IBISWorld Procurement Report Key Topics
This report is intended to assist buyers of hazardous waste containers, including pails, drums and totes (used to hold or transport pharmaceutical waste). These containers are leak resistant, and most have features that make them more durable than a standard waste container, such as locking floor carts for stability and mobility and absorbent pads for liquid leaks. This report excludes hazardous waste storage units and prefabricated hazardous waste storage buildings.
Recent Price Trend
Product Life Cycle
Total Cost of Ownership
Supply Chain & Vendors
Supply Chain Dynamics
Supply Chain Risk
Market Share Concentration
Buying Lead Time
Key RFP Elements
Buyer Power Factors
About IBISWorld Inc.
IBISWorld is one of the world's leading publishers of business intelligence, specializing in Industry research and Procurement research. Since 1971, IBISWorld has provided thoroughly researched, accurate and current business information. With an extensive online portfolio, valued for its depth and scope, IBISWorld’s procurement research reports equip clients with the insight necessary to make better purchasing decisions, faster. Headquartered in Los Angeles, IBISWorld Procurement serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.