The import of glass fibres and glass wool to Singapore saw significant fluctuations from 2013 to 2023, peaking at $74.319 million in 2014 and hitting a low of $55.068 million in 2020. As of 2023, the value was $65.844 million, slightly decreasing over the past two years with -0.25% variation annually. Looking at the CAGR over five years, there has been a modest decline at -1.46%. Forecasts indicate a continuing decrease, with an average annual contraction of -0.21% up to 2028, reaching $64.988 million.
Future trends to watch for include advancements in alternative materials potentially impacting the import volume and value, changes in global trade policies and tariffs, and economic fluctuations that may influence demand. Sustainability trends and innovations in recycling and reuse of glass fibres could also reshape market dynamics.
