The import of machines for manufacturing or hot working glass to Malaysia has exhibited high volatility over the past decade. In 2013, imports peaked sharply, after which they significantly dropped and remained erratic. By 2023, the import value stood at 17.168 million US dollars, showing a slight incremental trend. A deeper year-on-year analysis reveals substantial fluctuations, with notable increases in 2016 and moderate yet consistent growth seen from 2021 onwards.
Some specific trends include:
- 2013 saw an extraordinary increase followed by an 85.3% drop in 2014.
- Post-2016, imports demonstrated stabilization efforts, with periodic yet steady growth.
- From 2022 to 2023, there was a marginal increase of 0.87%.
- The five-year CAGR until 2023 marked a slight decline of -0.19%, indicating an overall subdued growth trend.
Future trends to watch include increasing demand driven by advancements in manufacturing technologies and investment in the glass industry. The forecasted average annual growth rate over the next five years stands at 0.69%, projecting a mild upward trend with an overall growth rate of 3.51% by 2028. Stakeholders should monitor global supply chain disruptions and technological innovations that may impact future import volumes.
