The import of low expansion laboratory, hygienic, and pharmacy glassware to Singapore is forecasted to increase significantly over the coming years. In 2023, the value of imports stood at approximately 348.0 thousand kilograms. By 2024, this is expected to rise to 357.95 thousand kilograms, marking a year-on-year increase of around 2.9%. The trend continues with projected values for 2025 at 369.09 thousand kilograms (3.1% increase), 2026 at 380.01 thousand kilograms (3% increase), 2027 at 390.71 thousand kilograms (2.8% increase), and 2028 at 401.2 thousand kilograms (2.7% increase).
Key Points to Note:
• 2023 Actual Value: 348.0 thousand kilograms
• 2024 Forecast Value: 357.95 thousand kilograms
• 2025 Forecast Value: 369.09 thousand kilograms
• 2026 Forecast Value: 380.01 thousand kilograms
• 2027 Forecast Value: 390.71 thousand kilograms
• 2028 Forecast Value: 401.2 thousand kilograms
Over the past two years (2023-2025), the imports are expected to grow by about 6.1%. The Compound Annual Growth Rate (CAGR) from 2023 to 2028 is projected to be 2.9% annually. This steady growth reflects strong demand, likely driven by advancements in the healthcare and laboratory sectors.
Future trends to watch for include changes in global manufacturing capabilities, advancements in medical technology, and regulatory changes that may impact import dynamics. Additionally, fluctuations in global supply chains due to geopolitical or economic factors could also play a significant role.
