As the chemical and petrochemicals sectors continue to flourish in Singapore, the country’s gases business is expected to see further growth in the coming years.
That’s according to the gasworld Business Intelligence team, which has recently completed a series of reports on the industrial gas businesses of South East Asia.
Industrial gas revenues in Singapore have been boosted significantly during the last decade by a number of tonnage contracts with chemical and petrochemical clients.
These sectors have recorded substantial growth during the last decade and a further upward trend is expected going forward; at least two new large-scale onsite plants are due on-stream during 2013 and 2014 alone.
The Singapore industrial gases marketplace is one of the most sophisticated in the world. Notwithstanding its limited surface area, there is an extensive pipeline and onsite supply infrastructure for a variety of gases including nitrogen, oxygen, hydrogen and syngas. There is also a well-developed bulk and packaged gas business, with particular strength in the special and electronic gases segment.
Going forward, the chemical and petrochemical sectors are likely to continue to account for the majority of industrial gas revenues for some time to come, we understand, though increasing investment in electronic, medical and other high-tech industries may also drive lower volume but higher value industrial gas applications.
Look out for the full story on Singapore in the Intelligence update in the November edition of gasworld magazine; published in the same issue will be an ASEAN market analysis.
Alternatively, contact the Business Intelligence team for further information on the dynamics, drivers and projections for the South East Asia industrial gases business: