Executive Summary

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Market Overview

The Singaporean chemicals industry is the second-largest industry in Singapore, after electronics. The Singaporean government has been promoting the industry since the mid-1990s, with the aim of increasing the share of chemicals and petrochemicals of total manufacturing output to 30% by 2010. The country has a chemical complex on Jurong Island, Singapore, acting as a base for over 80 domestic and international companies. The chemical industry output accounted for about SGD66.5bn (US$41.4bn) in 2005, contributing 32% to the country's manufacturing output.

Industry Performance

In 2005, the net investment in the Singaporean chemicals sector was reported to be SGD1.97bn (US$1.24bn), up 21.37% year-on-year (y-o-y). In May 2006, the country's chemical output increased 8.4% y-o-y fuelled by the strong performance of the petrochemicals segment, which increased 18.7% y-oy. The speciality chemicals output for May 2006 grew 8.7% y-o-y, owing to the robust demand for epoxy moulding compounds, industrial gases, food chemicals, mineral oil additives and chemical catalysts.

Industry Developments

Japan-based Mitsui Chemicals, in collaboration with Singapore government's Agency for Science, Technology and Research (A*STAR), opened a research centre in Singapore in October 2006. Mitsui Chemicals revealed its plans to liquidate its Singaporean subsidiary MTK Chemicals in March 2007. In September 2006, the US-based Foster Wheeler won an engineering, procurement and construction (EPC) contract from the UK-based Lucite International for a proposed 12,000 tonnes per annum (tpa) methacrylate (MMA) facility in Jurong Island, Singapore.

Future Risks

The Singaporean chemicals industry is growing at a fast rate; however the country lacks indigenous raw materials. This is likely to impede the country's growth. Further, countries such as Indonesia and Malaysia have vast indigenous feedstock resources; as such the production cost of petrochemicals in these countries is comparatively lower than in Singapore.

Contents

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Chapter 1 - Executive Summary

Market Overview

Free Trade Agreement

Industry Developments

Industry Outlook

Singapore Chemicals Industry SWOT

Chapter 2 - Market Overview

Industry Performance

Table: Singapore Chemicals Industry Output (2004-2005)

Speciality Chemicals

Electronic Chemicals

Pharmaceuticals

Table: Review Of Chemicals Industry Performance in 2005e (SGDbn)

Business Environment

Projects And Expansions

Chapter 3 - Industry Forecast Scenario

Table: Singapore Chemicals Industry Forecasts 1993-2009

Chapter 4 - Macroeconomic Forecast

Table: Singapore – Economic Activity

Chapter 5 - Company Monitor

Profiles

Eastman Chemicals Singapore

ExxonMobil Chemicals

Mitsui Chemicals

Dow Chemical Pacific (Singapore)

Chapter 6 - BMI Forecast Modelling

How we generate our industry forecasts

Chemicals & Petrochemicals Industry

Cross Checks

Competitive Landscape for Asia Chemicals: Sample of  
Companies Ranked

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Rankings and Competitive Landscapes by production and sales; market share and change on previous year; number of employees, ownership structure and year established. Also includes analysis of company expansion, export and investment strategies.