The export of plastic containers, bobbins and packages from Singapore has shown varied trends over the past decade. Between 2013 and 2017, there was a noticeable decline, with a negative year-on-year variation each year, peaking at a -12.86% decline in 2017. However, there was a slight recovery from 2018 to 2019. 2020 saw a significant drop of -17.17%, but 2021 rebounded with a 22.65% increase. Nonetheless, exports slightly regressed in 2022 and 2023, with a -2.15% and -0.19% change respectively. As of 2023, the export value stood at $258.94 million. The five-year CAGR up to 2023 was relatively stable at -0.069%.
The forecast from 2024 to 2028 indicates a stable yet slightly declining trend, with a forecasted value of $256.64 million in 2028 and an average annual decline of -0.16% (CAGR). This suggests an overall negative growth rate of -0.82% over the next five years.
Future trends to watch for include shifts in global demand for plastic materials, possible changes in environmental regulations, advancements in alternative packaging technologies, and fluctuations in raw material prices. These factors could significantly impact the forecasted stability in Singapore's export market for these products.
