The import volume of Petroleum Resins, Coumarone, Indene, and Polyterpenes to Singapore showed significant fluctuation over the period from 2013 to 2023, standing at 18.496 million kilograms in 2023. The early years saw substantial growth, highlighted by a 278.43% increase in 2014, but were followed by periods of decline and moderate growth, such as a -16.1% drop in 2018 and a 12.2% increase in 2019. More recently, the market rebounded with a 4.23% year-on-year growth in 2023. The average annual growth rate over the past five years, or CAGR, calculated at 6.14%, indicates a steady increase in import volume.
Future trends to watch for include the projected CAGR of 3.03% through 2028, indicating a consistent yet moderated growth rate. The total volume is expected to rise to 22.363 million kilograms by 2028, a growth rate of 16.12% over five years. Industry stakeholders should monitor economic shifts, technological advancements, and supply chain dynamics, which can influence future import trends.
