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The chemicals industry remains a key pillar of manufacturing with high growth potential. In 2009, the sector contributed 28% (S$63.8 billion) to total manufacturing output and employed 6% (23,400) of manufacturing workforce. Singapore consistently ranks among the world's top three oil trading locations and is recognized as a global leader in oil refining. Besides a strong emphasis on physical and technological infrastructure, Singapore also offers a total solutions approach, integrating innovation, manufacturing, regional distribution, marketing and other services.
As the centerpiece of Singapore's Energy and Chemicals industry, Jurong Island is recognised globally for its highly integrated, worldscale chemical complexes where companies can access the full range of resources to complete their manufacturing chain. This creates a cost-competitive and synergistic environment for some of the world's leading petroleum, petrochemicals and specialty chemicals giants, including Shell, ExxonMobil, Chevron Texaco, Mitsui Chemicals, Degussa and Akzo Nobel.
The chemicals industrial production has been generally improving since 2Q 2009, driven by robust expansions of petroleum refining and petrochemicals segment. Going forward, the growth of the industry should remain firm albeit slower with strong Asian demand for chemical products providing underlying support in 2011. The sector is poised to contribute another 1,500 skilled jobs over the next 3 years.
The gradual rebound in the end markets such as automotive, construction, electronics, and pharmaceutical markets signifies bright spots for the Chemicals industry. EDB aims to double industry manufacturing output from S$180 billion in 2004 to S$300 billion by 2018. Given the healthy pipeline of investments and positive sentiments, the Singapore chemicals industry is all ready to embark on its next phase of growth. Ethylene capacity, currently at 2 million tonnes per annum (tpa), will be doubled by 2012.
Click the Singapore Workforce Skills Qualification (WSQ) icon below to find out about related training under the Chemicals sector!