Forecasted import volumes of mats of glass fibers to Singapore show a consistently declining trend from 2024 to 2028. Specifically, quantities are expected to decrease from 545.85 thousand kilograms in 2024 to 439.33 thousand kilograms in 2028.
Year-on-year variations are expected to be as follows: - From 2024 to 2025, a decline of approximately 5% - From 2025 to 2026, about a 5.2% decrease - From 2026 to 2027, a reduction of roughly 5.4% - From 2027 to 2028, around a 5.5% drop
Given these trends, the compound annual growth rate (CAGR) from 2024 to 2028 reveals an average decline of approximately 5.3% per year in import volume.
Future trends to watch for include: - Potential impacts from economic factors such as tariffs or changes in trade agreements. - Technological advancements that might enhance material efficiency, thus lowering demand. - Any shifts in domestic production capabilities or alternative materials that could affect import needs. - Environmental regulations and sustainability trends influencing the demand for glass fibers or alternative products.
