The import of coal-tar distillation products, including oils, to Singapore has shown notable fluctuations over the past decade. From 2013, where the imports stood at $165.26 million, there has been a combination of increases and declines, notably significant drops observed in 2014 and 2018. As of 2023, the import value is set at $99.285 million, with a year-on-year decrease of -3.88% from the previous year. The downward trend is projected to continue with a forecasted five-year CAGR of -3.75%, leading to an estimated import value of $78.371 million in 2028, representing a total reduction of 17.41% over this period.
Future trends to watch for:
- Fluctuations in global demand and prices for coal-tar distillation products.
- Policy changes and environmental regulations impacting coal-tar product imports.
- Advancements in alternative materials and technologies reducing reliance on coal-tar products.
- Geopolitical factors and trade agreements influencing import dynamics.
