Singapore's import of isocyanates has exhibited significant fluctuations over the past decade, peaking at 56.463 million kilograms in 2013 and subsequently declining to 28.335 million kilograms in 2023. The past two years alone have shown a year-on-year decline of approximately 4.5%. The five-year compound annual growth rate (CAGR) points to an average annual decrease of around 5% from 2019 to 2023.
Future projections through 2028 anticipate a steady downward trend, with a forecasted annual decline of 4.5%, amounting to an overall decrease of 20.65% by 2028. Key trends to watch in the future include potential shifts in industrial demand, regulatory changes, and advancements in alternative materials that could influence the import of isocyanates.
