Malaysia Plastics Market Size (2024 - 2029)

The market size of the Malaysian plastics industry is projected to experience growth over the forecast period, driven by increased demand in the food and beverage packaging sector. Despite the negative impact of the COVID-19 pandemic, the market rebounded as restrictions were lifted, with a notable rise in demand for flexible packaging linked to personal, healthcare, and pharmaceutical products. However, environmental concerns regarding plastic usage pose challenges to market expansion. Future opportunities are anticipated from the aerospace sector, the adoption of biodegradable plastics, and enhanced recycling efforts.

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Market Size of Malaysia Plastics Industry

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Malaysia Plastics Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 3.89 Billion
Market Size (2029) USD 4.71 Billion
CAGR (2024 - 2029) 3.91 %
Market Concentration High

Major Players

Malaysia Plastics Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Malaysia Plastics Market Analysis

The Malaysia Plastics Market size is estimated at USD 3.89 billion in 2024, and is expected to reach USD 4.71 billion by 2029, growing at a CAGR of 3.91% during the forecast period (2024-2029).

The Malaysian plastics market was negatively impacted by the COVID-19 pandemic in 2020, but it registered growth in 2021 as governments eased the restrictions imposed during the pandemic. There was a huge demand for flexible packaging due to the growing demand for personal and healthcare products, pharmaceuticals, and packed foods and beverages.

  • The rising demand for plastics from the food and beverage packaging sector may drive the market in the short term.
  • On the other hand, rising environmental concerns about the use of plastics are likely to limit market growth.
  • Over the next few years, opportunities for the market are likely to come from growth in the aerospace industry, more use of biodegradable plastics, and more recycling.

Malaysia Plastics Industry Segmentation

Plastics are organic materials, similar to wood, paper, or wool. Plastics are produced using natural products, such as cellulose, coal, natural gas, salt, and crude oil. Malaysia's plastics market is segmented by type, technology, and application. By type, the market is segmented into traditional plastics, engineering plastics, and bioplastics. By technology, the market is segmented into blow molding, extrusion, injection molding, and other technologies. By applications, the market is segmented into packaging, electrical and electronics, building and construction, automotive and transportation, houseware, furniture and bedding, and other applications. For each segment, the market sizing and forecast have been done based on volume (kilo tons) and revenue (in USD million).

Type
Traditional Plastics
Engineering Plastics
Bioplastics
Technology
Blow Molding
Extrusion
Injection Molding
Other Technologies
Application
Packaging
Electrical and Electronics
Building and Construction
Automotive and Transportation
Houseware
Furniture and Bedding
Other Applications
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Malaysia Plastics Market Size Summary

The Malaysian plastics industry is poised for growth, driven by increasing demand in the packaging sector, particularly for food and beverage products. This demand is supported by the sector's advantages, such as enhanced wear and chemical resistance, ease of molding, and high mechanical strength. Despite the challenges posed by environmental concerns, the market is expected to benefit from opportunities in the aerospace industry, the adoption of biodegradable plastics, and advancements in recycling technologies. The market's recovery post-COVID-19 highlights its resilience, with flexible packaging seeing significant demand due to the rise in personal and healthcare products, pharmaceuticals, and packaged foods and beverages.

The market landscape is characterized by a consolidated structure with key players like Toray Plastics Sdn Bhd, Lotte Chemical Titan Holding Berhad, and others leading the industry. The introduction of bioplastics, derived from biological sources, is gaining traction as a sustainable alternative to conventional plastics, with applications spanning flexible and rigid packaging, agriculture, and consumer goods. The growing popularity of bioplastics in various sectors, including food, medical, and electronics, is expected to further drive market expansion. However, the industry faces challenges such as rising feedstock costs, which have led to production capacity adjustments by major manufacturers.

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Malaysia Plastics Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Rising Demand from the Food and Beverage Packaging Applications

    2. 1.2 Restraints

      1. 1.2.1 Environmental Concerns

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

    5. 1.5 Price Trend Analysis

    6. 1.6 Imports and Exports

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Type

      1. 2.1.1 Traditional Plastics

      2. 2.1.2 Engineering Plastics

      3. 2.1.3 Bioplastics

    2. 2.2 Technology

      1. 2.2.1 Blow Molding

      2. 2.2.2 Extrusion

      3. 2.2.3 Injection Molding

      4. 2.2.4 Other Technologies

    3. 2.3 Application

      1. 2.3.1 Packaging

      2. 2.3.2 Electrical and Electronics

      3. 2.3.3 Building and Construction

      4. 2.3.4 Automotive and Transportation

      5. 2.3.5 Houseware

      6. 2.3.6 Furniture and Bedding

      7. 2.3.7 Other Applications

Malaysia Plastics Market Size FAQs

The Malaysia Plastics Market size is expected to reach USD 3.89 billion in 2024 and grow at a CAGR of 3.91% to reach USD 4.71 billion by 2029.

In 2024, the Malaysia Plastics Market size is expected to reach USD 3.89 billion.

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