Singapore Chemical Logistics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Singapore Chemical Logistics Market Analysis

The Singapore Chemical Logistics Market size is estimated at USD 9.92 billion in 2024, and is expected to reach USD 15.32 billion by 2029, growing at a CAGR of greater than 13.5% during the forecast period (2024-2029).

• Singapore is one of the top energy and chemical centers in the world thanks to its potent combination of refining, olefins production, chemical manufacture, business, and innovation capabilities. Here are major activities for more than 100 international chemical companies. Singapore's main hub for petrochemical, specialty chemical, and refining operations is Jurong Island. Customers and suppliers are connected tightly by its highly integrated infrastructure, frequently literally over the fence through pipes. This integrated ecosystem, which includes utilities and logistical service providers, generates cost-saving production synergies for businesses. Investments totaling more than USD 37.27 billion have been made in Jurong Island. Singapore has positioned itself as a sustainable, highly productive base for chemical manufacture as the global industry evolves towards tailored blending and eco-friendly formulations.
• A new chemical warehouse and storage facility building is a very capital-intensive undertaking that necessitates adhering to a variety of criteria and acquiring approvals. Additionally, warehouses have very significant operational and maintenance costs. Due to the rising need for warehousing solutions, the sector is drawing a variety of investments. The efficient and effective operation of warehouses is a crucial duty, though. Some of the essential components needed for a practical and effective warehouse and storage facility are appropriate financial modeling, demand mapping, and infrastructural evaluations. The period needed to see a return on investment is lengthy since the cash involved in manufacturing and setting up a warehouse is irreversible. Consequently, the high expense of putting up and operating a warehouse and managing inventory loss is expected to limit the growth of the market during the forecast period.
• Even though Singapore is far from the European financial crisis, its chemical industry is directly affected by world events. It is dependent on the price of feedstocks because it is a close relative of the oil and gas sector, exposed to trade conflicts, and subject to changing consumer trends. Despite, and perhaps because of, the pandemic, almost all of the businesses GBR spoke to this year reported robust growth in the first quarter of 2022 and record-level growth in 2021. The future is uncertain, though, and depends on how well chemical companies can transfer costs to the next link in the value chain and ultimately to the customer.
• Performance chemicals are better positioned to pass on costs and generate healthy margins than bulk chemicals, which are directly impacted by rising feedstock and energy prices. The lack of available raw materials combined with ongoing logistical constraints has caused significant problems for companies in the specialty chemical industry, delaying orders and resulting in lengthy waiting lists for some items. The Singaporean sector is subject to the very good demographic fundamentals of Asia-Pacific in addition to the current market factors. The sector places a high priority on nutrition, with Singapore at the center of the fight against the difficulties of both food security and food sustainability.

Singapore Chemical Logistics Market Trends

Increase in chemical production driving the market

Singapore Chemical Logistics Industry Segmentation

The process of organizing and controlling the movement of chemicals and related materials from suppliers to manufacturers and consumers is known as chemical logistics. This procedure guarantees that the appropriate chemicals are delivered to the appropriate locations at the appropriate times. Transportation, storage, inventory management, and security can all be part of chemical logistics. A complete background analysis of the Singaporean chemical logistics market, including the assessment of the economy and contribution of sectors in the economy, a market overview, market size estimation for key segments, emerging trends in the market segments, market dynamics and geographical trends, and COVID-19 impact, is covered in the report.

Singapore's chemical logistics market is segmented by service (transportation, warehousing, and other services), by mode of transportation (roadways, railways, airways, waterways, and other modes of transportation), and by end-user (pharmaceutical industry, cosmetic industry, oil and gas industry, specialty chemicals industry, and other end-users). 

The report offers market size and forecast values (USD) for all the above segments.