Over the last decade, Malaysia's production of wood chips and wood particles has shown volatile yet generally upward trends. Production increased significantly from 576 thousand cubic meters in 2013 to 1262.5 thousand cubic meters in 2023, indicating strong growth. Notable year-on-year variations include a peak growth of 47.31% in 2013, followed by other significant spikes and dips, such as a 23.16% increase in 2019 and a -9.79% decline in 2016. The compound annual growth rate (CAGR) between 2013 and 2023 is 7.78%. The last two years saw moderate changes, with a negligible 0% change in 2022 and a 1.65% rise in 2023.
Forecast data suggest continued growth at a slower CAGR of 1.2% from 2023 to 2028, culminating in a forecasted production of 1361.6 thousand cubic meters by 2028. Despite a more cautious outlook, the market exhibits promising resilience and gradual expansion.
Future trends to watch include potential impacts from market demand, sustainability initiatives, and technological advancements in production processes. Global economic conditions and environmental regulations will also be critical factors to monitor.
