The import value of direct dyes and preparations based thereon to Malaysia has exhibited an overall declining trend from 2013 to 2023. In 2023, the import value stood at 1.8046 million US dollars, marking a negative trend with a year-on-year decrease of 2.77% compared to the previous year. Over the last five years, the industry experienced a Compound Annual Growth Rate (CAGR) of -4.52%, pointing to an overall decline in import value. Despite intermittent increases in certain years, such as 2018 (35.05% year-on-year) and 2021 (11.34% year-on-year), the market has generally contracted.
From 2024 onward, the forecast data continues to show a decreasing trend, with the forecasted CAGR for the next five years being -2.54%, resulting in an estimated total decline of 12.09% by 2028. This continuing negative trend in imports suggests several possible influencing factors including changes in market demand, local production increases, or shifts in sourcing strategies.
Future trends to watch for include:
- Global market conditions affecting dye production costs and supply chains.
- Local industrial and manufacturing shifts that could reduce import dependency.
- Technological advancements in dye production and application efficiency.
- Environmental regulations that could impact demand for certain types of dyes.
