Forecast: Raw Steel Production in Malaysia

Raw steel production in Malaysia has shown a declining trend from 2013 to 2023, with the production volume standing at 2.45 Million Metric Tons in 2023. The year-on-year variation over the last two years indicates a reduction of 6.75% in 2022 and 5.03% in 2023, exhibiting a consistent downward trajectory. The average annual decline rate (CAGR) over the last five years is -5.17%, reflective of a persistent decrease in production volume. Forecasts predict this downward trend to continue, with a projected CAGR of -5.14% over the next five years, resulting in an overall decline of 23.2% by 2028.

Future trends to watch for include potential shifts in global demand for steel, technological advancements in raw steel production, and potential policy changes that could either mitigate or exacerbate the current downward trend. Additionally, economic factors within Malaysia, such as industrial growth or decline, infrastructure projects, and investment in steel production capacity, will play critical roles in shaping the future trajectory of raw steel production.