Import of base metal fittings for furniture, doors, and cars to Malaysia has displayed an overall increasing trend from 2013 to 2023. While the imports experienced occasional declines, notably in 2014 and 2020, the general trajectory is upward.
The value hit $225.78 million USD in 2023. With close to a 23.93% increase in 2021 and a more moderate 2.6% rise in 2023, the market recovered strong post-pandemic and is anticipated to maintain steady growth.
The 5-year CAGR from 2023 to 2028 is forecasted to be 1.96%, with an expected total growth rate of 10.18%. Future trends to watch include:
-Global supply chain stability
-Evolving consumer preferences in furniture and automotive sectors
-Technological advancements in metal fittings
These factors will be crucial in shaping the import dynamics in the coming years.
