Singapore is one of the world’s leading chemical hubs, with a mix of over 100 global chemical firms locating their major operations here. Most are located at Jurong Island, a sprawling 3,000-hectare infrastructure formed from the seven offshore islands. The integrated ecosystem on the island creates the right synergies, enabling the industry (including petroleum & petrochemicals) to contribute nearly 3% of Singapore’s GDP in 2015.Today, Singapore is the world's fifth-largest refinery export hub and ranks within the top 10 globally by chemical exports volume1.
Shifting the focus to the high-value chemicals and specialty chemicals, the Energy & Chemicals Industry Transformation Map (ITM) 2025 will prioritise four clusters in specialty chemicals – nutrition and agriculture, hygiene and health, smart materials and mobility, and sustainability. We aim to become a sustainable Energy & Chemicals hub, maximising economic value while minimising resource use, and spearheading the energy transition to capture green growth opportunities.
In 2020, the Energy & Chemicals sector accounted for S$60.6 billion in manufacturing output and employed 27,000 people. It is the second largest contributor to manufacturing output in Singapore. Through the ITM efforts, the industry is expected to generate manufacturing value-added growth of 3 percent annually to S$14.2 billion by 2025.
Singapore as a carbon services hub
Carbon services and trading is an emerging area of economic opportunity for Singapore. With advantages such as an existing ecosystem of carbon services and its proximity to Southeast Asia, Singapore is well-positioned to become a carbon services and trading hub for Southeast Asia and the Asia Pacific2.
Singapore Chemicals Report
The Singapore Chemicals Report 2021 presents the Singaporean chemical industry as an evolving hub, transforming under the guidance of sustainability, digitalisation, and more generally, value addition. The report draws from 69 interviews with the regional CEOs of the main chemical, energy, logistics, environmental and digital companies that shape the scene of the Singaporean chemical and petrochemical industry.
2022’s edition titled Singapore Chemicals, Ingredients, and Materials, covers a broader scope of an increasingly diversified and integrated sector. It shares insights on how the industry is transforming on the back of mega trends such as heightened inflation and the global decarbonisation agenda.
1 Straits Times
2 Study of Singapore as a Carbon Services Hub