The export of polyurethanes from Singapore has shown notable fluctuations over the past decade. The value stood at 80.899 million kilograms in 2023. From 2013 to 2016, the trends illustrated variability with significant drops and rises, such as a 12.61% increase in 2016 following a decline in the preceding years. The period from 2017 to 2020 exhibited both decreases and hikes, with 2020 marking a sharp decline of 14.32%. The years 2021 and 2022 displayed strong recovery, culminated by an 8.33% rise in 2022.
Recent years (2022 to 2023) have shown steadier growth, with a 2.77% increase in 2023 indicating a positive outlook. Over the last five years (2024 forecast data), the average variation per year (CAGR) is 2.09%, with a forecasted overall growth rate of 10.91% by 2028.
Future trends to watch for include technological advancements in polyurethane production, shifts in worldwide demand and supply chain dynamics, regulatory changes, and potential eco-friendly innovations within the industry. Monitoring these drivers will be crucial to understand the long-term export growth patterns from Singapore.
