Malaysia's plywood production has seen a significant decline from 3.475 million cubic meters in 2013 to 1.3443 million cubic meters in 2023. The production decreased sharply due to multiple factors, including environmental regulations and declining demand. The average annual decline over the last five years (2018-2023) is approximately -11.69%. The last two years saw variations of -6.39% (2021) and -0% (2022), followed by a steeper drop of -14.3% in 2023.
Forecasts indicate continued declines from 2024 onward, with a projected production of 0.3859 million cubic meters by 2028. The forecasted 5-year CAGR from 2023 to 2028 is -19.6%, reflecting an anticipated drop of 66.41% over this period.
Future trends to watch for:
- Impact of environmental regulations and policies on production practices.
- Shifts in global demand for plywood and competing materials.
- Technological advancements in plywood manufacturing and sustainability efforts.
- Trade policies affecting exports and imports in the plywood market.
