Import of Polymers of Propylene and Olefins to Malaysia experienced a robust growth trend from 2013 to 2023, marked by year-on-year increases, with notable surges in 2018 and subsequent fluctuations. By 2023, the volume stood at 24.475 million kilograms. The year-on-year variation was 4.86% in 2023, reflecting a moderating trend. The CAGR for the past five years was 2.45%, indicating a slowing average annual growth rate compared to previous years. Forecasted data for 2024 to 2028 predicts continued growth, with an expected 5-year CAGR of 3.42%, projecting the volume to reach 30.34 million kilograms by 2028.
Future trends to watch for:
- Potential impact of global economic conditions on import volumes.
- Technological advancements in polymer production affecting supply chains.
- Regulatory changes and environmental policies influencing import practices.
- Market demand shifts driven by industries reliant on polymers.
