Based on the forecasted data, the import of lamp and lighting fitting parts of plastics to Singapore is expected to continue its upward trend, with consistent year-on-year increases from 2024 to 2028. In 2023, the import volume stood at 693 thousand kilograms.
- 2024: The forecasted import volume shows a 2.02% increase from 2023.
- 2025: The volume is projected to further increase by 2.25% from the previous year.
- 2026: A year-on-year growth of 2.15% is expected.
- 2027: An additional growth of 2.06% follows.
- 2028: The trend continues with a 1.98% increase in import volume.
CAGR (2024-2028): The compound annual growth rate over the five-year period is expected to average around 2.09%, indicating steady growth. Future trends to watch include advancements in plastic recycling technologies, shifts in regulatory policies regarding plastic imports, and innovations in lamp and lighting fitting designs which could influence import volumes.
