From 2013 to 2023, Malaysia's import of liquefied ethylene, propylene, butylene, and butadiene has shown variability with significant fluctuations around a general upward trend. In 2023, the import volume stood at 23.866 million kilograms, recording a modest year-on-year increase of 3.49%. Notably, substantial growth was observed in 2017 with a remarkable 58.76% increase from the previous year. Conversely, the industry faced setbacks in 2015 and 2020, marked by declines of 23.41% and 13.55%, respectively. Over the past five years, the Compound Annual Growth Rate (CAGR) was 4.69%, suggesting a steady rise in imports.
Forecast data anticipates continued growth until 2028, with the import volume rising to 28.066 million kilograms, underpinned by an average annual growth rate of 2.55%. This forecast represents an overall increase of 13.4% over the five-year period.
Future trends to watch for include potential impacts of global economic fluctuations, changes in trade policies, advancements in domestic production capacities, and shifts in regional demand dynamics for these chemicals.
