The forecasted import value of paint, distemper, varnish brushes, and paint pads to Malaysia shows a steady upward trend from 2024 to 2028. The import stood at 8.1282 million USD in 2024 and is expected to reach 9.4001 million USD by 2028. This represents a year-on-year increase of approximately 4.03% from 2024 to 2025, 3.79% from 2025 to 2026, 3.59% from 2026 to 2027, and 3.39% from 2027 to 2028. The compound annual growth rate (CAGR) over this five-year period is around 3.7%.
Based on the standing import value of 7.8 million USD in 2023, the increase in 2024 is about 4.20%, showing consistent and moderate growth in the market. This indicates a stable demand and a potential rise in the use of such products in Malaysia.
Future trends to watch for include the impact of new housing projects, renovations, and the increasing DIY market that could drive demand. Additionally, fluctuations in global raw material prices and changes in trade policies might influence future import values. Monitoring these factors will be essential for accurately adjusting future forecasts and strategies.