The production of kiln-dried timbers in Malaysia has demonstrated significant fluctuations from 2015 to 2023. In 2023, the production stood at 163.05 thousand metric tons, marking a 7.94% year-on-year increase from 2022. The Compound Annual Growth Rate (CAGR) over the last five years reached 10.36%. The past figures showed varied annual changes, such as a notable increase of 48.34% in 2016 and a decrease of 20.71% in 2017. Between 2018 and 2019, the production stabilized with a moderate rise of 6.36% in 2019. More recently, the growth trends stabilized with notable increases of 18.86% in 2022 and 7.94% in 2023.
Future trends to watch for:
- Projected steady growth with a forecasted 5-year CAGR of 5.99% from 2024 to 2028.
- An expected 33.77% increase in production, reaching 238.79 thousand metric tons by 2028.
- Potential impact of environmental policies and market demand fluctuations.
- Technological advancements and efficiency improvements in timber processing.