Imports of polymers of ethylene to Malaysia have shown substantial growth over the past decade, with values generally increasing from $238.12 million in 2013 to $731.68 million in 2023. The most significant annual increases occurred in 2017 and 2018, with year-on-year increases of 66.12% and 37.72% respectively. Following a dip in 2019 and 2020, the upward trend resumed rapidly from 2021, achieving an average year-on-year growth rate (CAGR) of 3.64% over the last five years.
The forecasted values suggest continuous growth, expecting to reach $908.74 million by 2028. This will be driven by an average annual growth rate of 3.45%, paving the way for an 18.48% increase over the next five years.
Future Trends to Watch For:
- Emerging markets demand catalysts largely driven by industrial applications.
- Sustainable alternatives and innovations in polymer manufacturing impacting import volumes.
- Geopolitical factors and regulations affecting trade and pricing of polymers of ethylene.
- Growth in end-user industries like packaging, automotive, and construction sectors.
