The forecasted import of asbestos friction materials and articles to Malaysia indicates a steady increase from 2024 to 2028, with values rising progressively from 5.1724 million USD in 2024 to 5.2404 million USD in 2028. This trend shows a consistent, albeit modest, annual growth, averaging a Compound Annual Growth Rate (CAGR) of approximately 0.33% over the five-year period.
In comparison to its 2023 value, the imports have shown a positive year-on-year growth, highlighting Malaysia's growing demand for these materials. The year-on-year variations are relatively small, which suggests a stable and predictable market landscape.
Future trends to watch for:
• Any changes in global asbestos regulation policy which could impact import levels.• Developments in alternative friction materials, which may affect the demand for asbestos-based products.• Shifts in the automotive industry, a primary consumer of friction materials, which could alter import patterns.
