The import volume of needleloom felt and stitchbonded fiber fabric in Malaysia peaked in 2014 at 1.513 million kilograms and has since shown an overall negative trend, consistently decreasing until 2023. By 2023, the import volume stood at 0.821 million kilograms. The year-on-year variation over the last two years from 2021 to 2023 indicates a minor decrease of 1.59% and 1.58% respectively. The Compound Annual Growth Rate (CAGR) over the last five years is -1.3%, signifying a steady decline in imports. Forecasts predict a further decrease with the import volume expected to reach 0.752 million kilograms by 2028, representing a forecasted five-year CAGR of -1.39% and a cumulative forecasted growth rate of -6.76%.
Future trends to watch for include:
- Market shifts that could influence demand including technological advancements in domestic production capabilities.
- Environmental regulations which might lead to a preference for sustainable and locally sourced materials.
- Economic factors affecting trade and import policies.
- Global supply chain dynamics, especially post-pandemic recovery effects.
