Despite strong economic headwinds, analysts have remained upbeat about prospects for specialty chemicals. Broad based industrial demand and expansion in construction is driving growth for specialty chemicals. Specially formulated to meet exacting requirements, they have enabled companies to differentiate their products and foster customer loyalty.
Over the next five years, demand for specialty chemicals is projected to grow at a compound annual growth rate of over 5 percent, well ahead of global growth, which is projected at 2.5 percent for 2020.
With its well-established energy and chemical capabilities and robust intellectual property protection, Singapore has benefitted from the industry’s growth. Revenues from manufacturing had more than doubled from S$4 billion in 2000 to S$9.8 billion in 2018, as companies ramped up their manufacturing capacity to capitalise on the strong Asian market.
As specialty chemicals are sold based on their performance and function rather than composition, companies have also leveraged Singapore’s strength in research and development to develop new products, enhance the functionality of existing products as well as adapt them to accommodate the requirements of their customers.
The Singapore Specialty Chemicals Guide is privileged to be part of the industry’s development. It serves as a one-stop resource for all relevant information on the industry, bringing together industry players, key suppliers, research institutes, training centres and government agencies.
We would like to thank the Singapore Economic Development Board for its contribution to this definitive Singapore Specialty Chemicals Guide and to our advertisers for their support in making this publication a success.
Ms Tristine Lim
General Manager,
Marshall Cavendish Business Information Private Limited