Pumps, Valves & Compressors
Singapore
Overview
PUMPS 2004 2005 2006 (estimated)
Total Market Size 963 657 767
Total Local Production 470 641 661
Total Exports 947 1361 1398
Total Imports 1440 1378 1504
Imports from the U.S. 353 318 383
Footnote: exchange rates used:
2004: US$1 = S$1.63
2005: US$1 = S$1.66
2006: US$1 = S$1.56
The above statistics are unofficial estimates
Figures are in millions of US$
The major end-users are the chemical, petrochemical, environmental, food processing and oil and gas industries. All these sectors are considered key sectors in Singapore. According to industry sources, the Asia Pacific economy is on the upward trend and industries such as petrochemicals and pharmaceuticals mirror this trend.
Singapore is a major oil refining center/oil trading hub in the world (the third largest) with a capacity nearly double its rate of petroleum products consumption. The petrochemical industry has experienced rapid growth as a direct result of Singapore’s strong base in petroleum refining. To this end, seven small offshore islands in the western part of the country have been reclaimed to form a 12-square mile complex known as the Jurong Island Petrochemical Complex.
Singapore’s biomedical sciences industry is also growing from strength to strength. In 2005, the Biomedical Sciences cluster continued to attract major new investments in both manufacturing and R&D. Investments in the chemicals sector also strengthened Singapore's position in high-growth areas such as specialty ingredients for food applications.
Best Products/Services
The market for pumps, valves and compressors has been on the rebound for the past two years. The recovery in the chemicals sector and the strong growth in the pharmaceutical and life sciences sectors should present good opportunities for this industry.
The Singapore government’s goal is to expand annual petrochemical output to more than US$750 billion by the end of the decade. A technology center has been set up on Jurong Island that will undertake research and development expertise, new plants and a logistics center to provide storage facilities for petrochemical companies are under construction.
U.S. companies should note that the growth niches are in pharmaceuticals manufacturing, environmental, specialty chemicals, petroleum refining, petrochemicals and the food & beverage industries. These sectors are continuing to attract new investment fuelled by the Singapore government’s efforts to develop the four manufacturing pillars of the economy - biomedical sciences, electronics, chemicals and engineering sectors.
Opportunities
Overall exports from the U.S. in this sector for 2006 are estimated to be at least 20% higher than the previous year. In addition, additional opportunities in Singapore are anticipated for U.S. companies.
There are several projects in the medium term that should generate demand for this sector to include the following:
· Stage 1 of Singapore’s country-wide, deep-tunnel, sewage system (DTSS), scheduled for completion in 2008, which comprises 48 km of tunnels, a water reclamation plant with a 5 kilometer long sea outfall and some 60 km of link sewers;
· The Changi Water Reclamation Plant (800,000 cubic meters per day), which serves as the cornerstone of the first stage of Singapore’s DTSS project;
· Engineering, procurement and construction of the biggest independent oil storage terminal (14.2 million barrels capacity) by the private sector that will be completed in two years time on Jurong Island;
· Building and development of foreign pharmaceutical plants at the Tuas View Pharmaceutical Park.
Other projects include the Marina Barrage dam (expected to be completed in 2008), various water / wastewater projects and the fast-rising biomedical sciences cluster.
Resources
Trade Shows
Pumps & Systems Asia 2008
Valves & Piping Asia 2008
Compressors & Systems Asia 2008
July 2008
http://www.hqlink.com/industrial.html
OSEA2008
December 2-5, 2008
Singapore Government Offices
Singapore Economic Development Board (SEDB)
Public Utilities Board
U.S. Commercial Service, Singapore Contact
CHAN Yiu Kei
Email: yiukei.chan@mail.doc.gov