In 2023, the import of aluminium waste or scrap to Singapore stood at 20.286 million US Dollars. Observing the historical data, there is a noticeable fluctuation in year-on-year variations from 2013 to 2023. In 2017, a significant spike of 44.97% was followed by a dramatic increase of 145.19% in 2018. Post-2018, there were periods of decline, such as 2019 and 2020, which saw reductions of 14.04% and 12.58% respectively. However, from 2021 onwards, a consistent upward trend resumed with notable increases in both 2021 (26.45%) and 2022 (4.63%). The year-on-year increase in 2023 was slightly lower at 4.33%, yet the overall average annual growth rate (CAGR) over the last five years stood at 0.73%.
Forecasts from 2024 to 2028 indicate a continued positive trajectory, with the import value expected to rise steadily from 21.212 to 24.688 million US Dollars. This forecast suggests an average annual growth rate (CAGR) of 3.08% over the next five years and a total growth rate of 16.39% by 2028.
Future trends to watch for include potential changes in global aluminium supply chains and recycling policies, which could influence the volume and value of aluminium waste or scrap imports. Additionally, advancements in recycling technologies may impact the demand and efficiency of aluminium waste processing in Singapore.
