The import of synthetic staple fibres to Malaysia saw a fluctuating trend from 2013 to 2023. The value of imports stood at USD 56.405 million in 2023. The period from 2013 to 2016 generally showed a decline, while from 2017 to 2023, there was a mix of growth and minor declines, with an average year-on-year variation of approximately 0.7% over the last two years. The compound annual growth rate (CAGR) for the five years leading up to 2023 was relatively low at 0.15%, indicating a stable but modest market.
Future trends to watch for: the forecasted data suggest a moderate growth trajectory for synthetic staple fibres import, with a forecasted 5-year CAGR of 0.57% and an overall growth rate of 2.86% by 2028. Factors influencing this could include shifts in global demand, technological advancements in synthetic fibres, and changes in trade policies.
