In 2023, Malaysia's import of pigments for paints, dyes packaged for retail stood at 29.38 million US dollars. While the imports have experienced annual fluctuations, the overall trend shows growth. From 2013 to 2023, the value varied significantly, with notable decreases in 2014 and 2020, followed by remarkable increases in 2016 and 2021. The Compound Annual Growth Rate (CAGR) for the last five years indicates an average annual increase of approximately 2.57%.
Year-on-year variation recorded major peaks and troughs:
- 2022: 8.14%
- 2023: 2.61%
For the forecast period from 2024 to 2028, a steady growth is expected with a forecasted CAGR of 1.98%, amounting to a total increase of 10.29% over five years. By 2028, the imports are anticipated to reach 33.20 million US dollars.
Future trends to watch for include potential impacts of global trade policies, economic conditions in Malaysia, and technological advancements in the paints and dyes industry, which may influence the import volume and value. Examining these trends will be crucial for understanding the market dynamics and making informed business decisions.
