The import of synthetic organic pigments and preparations based thereon to Singapore has shown variability over the past decade. Starting from 51.508 million USD in 2013, it experienced fluctuations, with notable increases seen in 2014 and 2017. However, there were significant drops in 2018 and 2020. By 2023, the import value stood at 72.183 million USD, reflecting a more stable growth trend with a 2.3% year-on-year increase from 2022, and a 4.28% compound annual growth rate (CAGR) over the last five years. The forecast indicates a moderate rise in imports, with a 1.76% forecasted CAGR from 2024 to 2028, suggesting relative stability and sustained demand.
Future trends to watch for include:
- Potential disruptions in global supply chains that could impact the import volumes to Singapore.
- Technological advancements and innovations in synthetic organic pigments that could drive demand.
- Regulatory changes impacting trade policies and tariffs for chemical imports.
- Market dynamics such as competition and price fluctuations in raw materials.