The export of polypropylene from Singapore stood at 1,194.4 million kilograms in 2023. Over the last two years, the exports grew by 8.55% in 2022 and 2.97% in 2023. The 5-year CAGR shows an average annual growth of 2.23% from 2023 to 2028, indicating a steady growth trajectory expected in the near future.
The historical trends demonstrate the fluctuating nature of polypropylene exports, with notable peak growth periods in 2014 and 2018 at 10.73% and 14.32%, respectively, and a significant dip in 2020 with a -14.11% decrease. Overall, from 2013 to 2023, the market has generally shown resilience with a positive cumulative growth.
Future trends to watch for:
- Global demand shifts due to economic and industrial developments
- Supply chain disruptions influenced by geopolitical events
- Increasing competition and innovation in the polypropylene market
- Environmental regulations impacting production methods and cost structures
