Malaysia's industrial sand and gravel production demonstrated varied annual fluctuations between 2013 and 2023, reaching 1.49 million metric tons in 2023. Notably, the year-on-year change was modest at 2.12%. Observing over the last two years, the increase was 7.69% in 2021 and 2.21% in 2022. The 5-year Compound Annual Growth Rate (CAGR) from 2018 to 2023 was 2.31%, indicating steady growth in production volumes.
Future trends to watch for in Malaysia's industrial sand and gravel sector include:
- Projected consistent growth with an estimated 1.65 million metric tons by 2028, reflecting a 5-year forecasted CAGR of 1.62%.
- Potential impact of regulatory changes on mining practices and export policies.
- Technological advancements improving production efficiency and sustainability in the industry.
- Market demand influenced by construction, glass manufacturing, and other industrial applications, potentially driving fluctuations in production volumes.