The import of anhydrous ammonia to Singapore has shown significant fluctuations over the past decade. In 2013, the volume stood at 6.97 million kilograms, growing sharply to 26.24 million kilograms by 2015. However, the imports stabilized around this value until 2017, when it saw another surge reaching 31.90 million kilograms. The year 2020 experienced a decline to 29.24 million kilograms, followed by a robust recovery, leading up to 40.08 million kilograms in 2023.
Year-on-year variations have been notable, with peaks of 169.75% in 2015 and dips such as -12.84% in 2020. The compound annual growth rate (CAGR) reached 4.77% over the last five years up to 2023, with fluctuations showcasing both periods of rapid growth and slight stability.
For the future, forecasts predict a steady increase, reaching up to 48.35 million kilograms by 2028. The five-year CAGR projection stands at 2.95%, with a predicted overall growth of 15.62% from 2023 to 2028.
Future trends to watch for include potential impacts of global economic conditions, environmental regulations affecting production and import, and emerging technological advancements in ammonia usage and storage.
