The import of pigments for paints and dyes packaged for retail in Singapore has seen a significant decline from 2013 to 2023, decreasing from 2.6701 million kilograms to 0.61406 million kilograms. Notable year-on-year variations show substantial drops in 2015 (-26.64%), 2020 (-26.31%), and 2023 (-15.76%). The Compound Annual Growth Rate (CAGR) from 2019 to 2023 was -11.83%, indicating a consistent downtrend over the last five years.
By 2028, imports are projected to plummet to just 0.01137 million kilograms, with a forecasted five-year CAGR of -52.79% and an overall forecasted decline of 97.66%. These projections highlight a rapidly decreasing demand or shift in the market dynamics for pigments in Singapore.
Future trends to watch for:
- Changes in local manufacturing capabilities or retail packaging standards.
- Introduction of new regulatory measures affecting imports.
- Shifts in consumer preferences or technological advancements in alternative materials.
- Impact of global supply chain disruptions and environmental policies.