In 2023, Malaysia's export of adhesives based on rubber or plastic stood at 61.000 million kilograms. The forecasted data from 2024 to 2028 shows a steady increase in export volume, growing from 63.141 million kilograms in 2024 to 73.108 million kilograms by 2028. This demonstrates a year-on-year growth ranging from 4.1% to 3.4%, with the most recent CAGR over the past five years averaging at approximately 4.7%.
The emerging trends to watch for include:
- Potential technological advancements in adhesive formulations could lead to increased demand.
- Economic fluctuations and trade policies affecting global trade routes and export markets.
- Shifts in regional demand patterns, specifically in fast-growing markets like Southeast Asia.
- Environmental regulations impacting the production processes and material compositions of adhesives.