Procurement Market Trends

We expect supply and demand in the markets for materials and services that are relevant for us to continue to be largely balanced in 2026. Most of the commodity markets are likely to remain shaped by weak global demand and stable prices, with the exception of palm-oil dependent raw materials. Despite a slight increase in production, they will continue to be subject to structural shortage and additional pressure due to the EU Deforestation Regulation (EUDR), which will come into force at the end of 2026.

Geopolitical and trade policy uncertainties remain a significant risk factor. The ongoing conflict in Ukraine, the instability in the Middle East, and potential tariffs or export restrictions from major economies may have a considerable impact on global supply chains. China’s stricter controls regarding critical raw materials could also pose further challenges for the markets.