Following the pandemic, Malaysia's plastic industry experienced a recovery. In 2023, Malaysia's imports of plastics and related products reached USD 8.479 billion. China was a major source, with Malaysia importing USD 2.189 billion worth of plastics from China, accounting for 25.81% of the total imports for the year based on the analysis of the publisher.
In terms of exports, the value of Malaysia's plastics and plastic products decreased during the pandemic but quickly rebounded, surpassing pre-pandemic levels. In 2023, Malaysia's exports of plastics and related products amounted to USD 9.032 billion. China, Singapore, and Indonesia were the main export markets, with exports to China reaching USD 2.168 billion, representing about 24% of the total.
In December 2021, the Malaysian government released the 'Malaysia Plastic Sustainability Roadmap 2021-2030' as a comprehensive strategy to address plastic waste issues. The demand for bioplastics is also driving the development of the plastic industry in Malaysia.
Malaysia's plastic industry holds substantial potential for foreign investors. The sector has promising investment prospects in high-end plastic products and engineering plastics in the coming years. Advanced waste management infrastructure also supports plastic recycling.
The Malaysian plastic market comprises many foreign or joint venture enterprises, competing alongside local companies. According to the publisher, key local players include BP Plastics Holding Bhd and Commercial Plastic Industries. Foreign and joint venture firms dominate significant market shares, including Toray Plastics Sdn Bhd, Polyplastics Asia-Pacific Sdn Bhd, and Lotte Chemical Titan Holding Berhad. Notably, Toray Plastics Sdn Bhd established a plant in Malaysia in 1990, commencing production in early 1992; Polyplastics Asia-Pacific Sdn Bhd established the PAP Kuantan plant in 2000 with a production capacity of 30,000 tons annually; and Lotte Chemical Titan Holding Berhad began constructing its polypropylene plant in 2017.
The publisher projects that the market size of Malaysia's plastic industry will continue to grow in the coming years. Both imports and exports are expected to rise. By 2033, Malaysia's imports of plastics and related products are projected to reach USD 9.84 billion, with a CAGR of approximately 1.5% from 2024 to 2033.
Topics covered:
- Overview of Malaysia’s Plastics Industry
- Economic Conditions and Policies for Malaysia’s Plastics Industry
- How Foreign Investment Enters Malaysia’s Plastics Market
- Market Size of Malaysia’s Plastics Industry (2024-2033)
- Analysis of Major Plastics Manufacturers in Malaysia
- Key Drives and Market Opportunities for the Plastics Industry in Malaysia
- What are the Major Drivers, Challenges, and Opportunities for the Plastics Industry in Malaysia during the Forecast Period 2024-2033?
- Who are the Main Players in Malaysia’s Plastics Market and What are their Competitive Advantages?
- What is the Expected Revenue of Malaysia’s Plastics Market during the Forecast Period 2024-2033?
- What Strategies have the Major Market Players Adopted to Increase their Market Share in the Industry?
- Which Segment of Malaysia’s Plastics Market is Expected to Dominate the Market by 2032?
- What are the Main Adverse Factors Facing Malaysia Plastics Industry?
Table of Contents
Companies Mentioned
- BP Plastics Holding Bhd
- Commercial Plastic Industries
- CYL Corporation Bhd
- Toray Plastics Sdn Bhd
- Polyplastics Asia-Pacific Sdn Bhd
- Lotte Chemical Titan Holding Berhad
- Malayan Electro-Chemical Industry Co. Sdn Bhd.
- Sanko Plastics Malaysia
- Scientex
- Teck See Plastic Sdn Bhd
Methodology
Background research defines the range of products and industries, which proposes the key points of the research. Proper classification will help clients understand the industry and products in the report.
Secondhand material research is a necessary way to push the project into fast progress. The analyst always chooses the data source carefully. Most secondhand data they quote is sourced from an authority in a specific industry or public data source from governments, industrial associations, etc. For some new or niche fields, they also "double-check" data sources and logics before they show them to clients.
Primary research is the key to solve questions, which largely influence the research outputs. The analyst may use methods like mathematics, logical reasoning, scenario thinking, to confirm key data and make the data credible.
The data model is an important analysis method. Calculating through data models with different factors weights can guarantee the outputs objective.
The analyst optimizes the following methods and steps in executing research projects and also forms many special information gathering and processing methods.
1. Analyze the life cycle of the industry to understand the development phase and space.
2. Grasp the key indexes evaluating the market to position clients in the market and formulate development plans
3. Economic, political, social and cultural factors
4. Competitors like a mirror that reflects the overall market and also market differences.
5. Inside and outside the industry, upstream and downstream of the industry chain, show inner competitions
6. Proper estimation of the future is good guidance for strategic planning.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | July 2024 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value ( USD | $ 8.6 Million |
| Forecasted Market Value ( USD | $ 9.84 Million |
| Compound Annual Growth Rate | 1.5% |
| Regions Covered | Malaysia |
| No. of Companies Mentioned | 10 |
