Between 2013 and 2023, Malaysia's import of plastic floor, wall or ceiling covering grew significantly. Despite fluctuating year-on-year changes, the overall trend shows consistent growth, peaking at $64.65 million in 2023.
Recent year-on-year variations show a growth pattern with values rising 9.93% in 2022 and 4.16% in 2023. The compound annual growth rate (CAGR) has decreased from 7.82% in 2021 to 4.0% in 2023, indicating a slowdown in growth velocity over the more recent years.
Looking forward, forecasts estimate further growth with values expected to reach $77.961 million by 2028. The forecasted five-year CAGR stands at 2.99%, suggesting more modest growth. The five-year growth rate is projected at 15.88%.
Future trends to watch for include market adaptations to sustainability pressures, shifts in domestic production capabilities, and international trade policy impacts. Continued monitoring of economic conditions and technological advancements in materials may offer further insights.
