The import of laminated safety glass for non-vehicle use to Singapore has experienced notable fluctuations over the past decade. The import value peaked in 2013 at $23.99 million and has since seen a mix of declines and modest recoveries, reaching $12.06 million in 2023. Year-on-year percentage variations indicate significant decreases in 2014 and 2017, with intermittent periods of growth, such as in 2016 and 2021. The average annual growth rate (CAGR) from 2019 to 2023 was -0.2%, indicating a largely stagnant trend.
Looking forward, forecasts suggest a gradual decline in imports, with an anticipated value of $11.259 million by 2028. The projected average annual decrease (CAGR) over the next five years is -1.09%. While this is a relatively modest decline, it suggests a continued cautious outlook for market demand.
Future trends to watch for include:
- Global economic conditions, which could impact construction and safety regulations and, consequently, safety glass imports.
- Advancements in local production capabilities, potentially reducing dependency on imports.
- Policy changes or trade agreements that might affect import costs and supply chains.
