The import of ammonia in aqueous solution to Singapore is on a definitive upward trend from 2024 to 2028, starting at 7.7791 million kilograms and reaching 8.6102 million kilograms. Based on the forecasted data, there is a noticeable year-on-year increase. Specifically, from 2024 to 2025, the growth is approximately 2.75%, while subsequent years see similar steady growth rates, consistently between 2.50% to 2.75%. The average annual growth rate (CAGR) over the next five years is projected to be around 2.57%, indicating stable and continuous import growth.
Compared to 2023, where imports stood at 7.6 million kilograms, the projections point to consistent demand. The year-on-year growth from 2023 to 2024 is about 2.35%, aligning with the broader trend of modest but steady increases.
Future trends to watch for:
• Changes in global ammonia production levels, which could affect supply and import prices.
• Domestic demand growth, influenced by industrial and agricultural sectors that utilize ammonia-based solutions.
• Potential shifts in trade policies or tariffs impacting import costs and volume.
• Advances in alternative technologies or substitutes that could influence demand for ammonia in aqueous solution.
