We are pleased to introduce the 2022 edition of our Singapore Chemicals Reports series. For the first time, the book is called “Singapore Chemicals, Ingredients, and Materials,” covering the broader scope of an increasingly more diversified and integrated sector. “Chemicals” alone no longer seemed to capture those parts of the industry that produce non-chemical compounds, highly specialized formulations, or organic agricultural solutions. The Singaporean chemical industry is becoming more difficult to separate from other industries, like the renewables, food, and specialized bio-based materials sectors.

The biggest chemical and oil players are also the largest investors in new energies including hydrogen, and the most vanguard technologies for carbon capture and sequestration or advanced molecular recycling stem from the labs of chemical players. Bio-polymers, bio-surfactants and bio-fuels are commercialized on the same digital channels and compete for the same raw materials as food ingredients, while engineers, chemists, workers and managers move between these industries more freely than ever.

At the same time, the destiny of the chemical industry remains tightly tied together with that of the oil and gas sector. To a world virtuously promising to phase out fossil fuels, the energy crisis caused by the cut in natural gas came as a snubbing reminder that we are far from ready to wean ourselves off carbon supplies. Persisting inflation has made it clear that the global economy continues to swing with the price (and underneath that, with the availability) of gas.

As may be expected, the main topics for this year’s report are the impact of inflation on the chemical value chain, and the strides made by the industry to curb emissions under that larger-than-life theme of sustainability. The simplest questions become the most challenging to answer: “Can the Singaporean chemical industry benefit from inflation?” (Or) “Is the squeeze in energy supplies good or bad news for the energy transition?” These require more than a yes-or-no reply, and are explored thoroughly with our interviewees throughout these pages.

The other change we bring with this edition is the evolution from a biennial report to an annual one. We can no longer think of chemicals as a slow and stable industry with predictable cycles, especially in innovation-driven Singapore. The themes we discuss no longer cross different editions. The world is moving fast, and the Singaporean industry faster. With that said, we are thankful to the 70 plus executives in Singapore that shared their insights with our reporters and made this report possible.

And lastly, we would like to pass on the final message that most contributors shared this year on the importance and necessity of partnerships: The industry is becoming more united, unlikely partnerships are emerging, and competition is redefined to collaboration in the face of common goals and challenges, the biggest of which is the energy transition.

We hope you enjoy the read,