Malaysia Plastics Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)

The Malaysia Plastics Market is Segmented by Type (Traditional Plastics, Engineering Plastics, and Bioplastics), Technology (Blow Molding, Extrusion, Injection Molding, and Other Technologies), and Application (Packaging, Electrical and Electronics, Building and Construction, Automotive and Transportation, Housewares, Furniture and Bedding, and Other Applications). The report offers market size and forecast in volume (kiloton) for all the above segments.

Market Snapshot

Malaysia Plastics Market Size
Study Period: 2017-2027
Base Year: 2021
CAGR: >3 %
Malaysia Plastics Market Major Players

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Market Overview

The Malaysian plastics market recorded a volume of around 2,500 kiloton in 2021. The market is projected to register a CAGR of more than 3% during the forecast period.

The Malaysian plastics market 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 food and beverages. According to JEITA, global electronic product manufacturing, including laptops, mobile phones, semiconductors, and other items, grew by 11% Y-o-Y to USD 3,360 billion in 2021. It is projected to reach USD 3,536 billion in 2022, which may influence the bioplastic demand.

  • The rising demand for plastics from the food and beverage packaging sector may drive the market in the short term.
  • Potential growth in the aerospace sector, increasing usage of biodegradable plastics, and increased recycling activities are likely to act as opportunities for the market over the forecast period.

Scope of the Report

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. For each segment, the market sizing and forecast have been done based on volume (kiloton).

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
Housewares
Furniture and Bedding
Other Applications

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Key Market Trends

Rising Demand from Food and Beverage Packaging Applications

  • Packaging accounts for the largest application segment in the Malaysian plastics market. The prime reasons for the growing application of plastics in the packaging segment include better wear and chemical resistance, ease of molding, recyclability, puncture resistance, and high mechanical strength.
  • According to the Malaysian Reserve (local information provider owned by TMR Media Sdn Bhd), Malaysia’s annual per capita plastic packaging consumption is high among the Southeast Asian countries, at 16.78 kg/person. The total household plastic packaging consumption in the country reached 523,000 metric ton by the end of 2021.
  • Other local packaging manufacturers include Malaysia Packaging Industry Bhd, Bemis Flexible Packaging Sdn Bhd, Amcor Ltd, Daibochi Plastic and Packaging Industry, and Bisson Flexipack Sdn Bhd.
  • In 2020-2021, robust demand from the country’s local plastic packaging manufacturers propelled its strongest gains. For instance, Scientex Bhd, the flexible plastic manufacturer for various industrial and consumer applications, registered its highest turnover of MYR 3.7 billion for the financial year ending in July 2021, up by 3.9% compared to 2020.
  • Such factors are expected to increase the demand for plastic packaging in the country during the forecast period.
Malaysia Plastics Market Trends

Increasing Demand for Bioplastics

  • Bioplastics are substances made from biological sources through different processes. They are mainly developed as alternatives to conventional plastics.
  • Bioplastics have applications in flexible packaging, rigid packaging, agriculture and horticulture, consumer goods, and textiles. They are used as packaging materials for wrapping premium and branded organic food. Rigid bioplastics are used for packaging cosmetic creams and products.
  • Bioplastics are mostly used in the food sector for products like food trays, yogurt cups, and cutlery. The popularity of bioplastics is increasing in the medical, agriculture, consumer electronics, sports, and automotive sectors.
  • Bioplastics provide the packaging industry with a renewable, sustainable option for various uses. According to European Bioplastics data, in 2021, the global bioplastic production capacity was around 2.417 million ton.
  • Such factors are expected to boost the demand for bioplastics and drive the Malaysian plastics market in the coming years.
Malaysia Plastics Market Growth

Competitive Landscape

The Malaysian plastics market is consolidated due to the limited presence of plastic resin manufacturers in the country. Most market players import raw materials from other countries, including China, Japan, and Southeast Asian countries. The major players (not in any particular order) include Toray Plastics Sdn Bhd, Lotte Chemical Titan Holding Berhad, Behn Meyer Malaysia Sdn Bhd, PolyplasticsAsia Pacific Sdn Bhd, and Malayan Electro-Chemical Industry Co. Sdn Bhd.

Major Players

  1. Toray Plastics Sdn Bhd

  2. Polyplastics Asia-Pacific Sdn Bhd

  3. Behn Meyer Polymers Sdn Bhd

  4. Lotte Chemical Titan Holding Berhad

Toray Plastics Sdn Bhd, Polyplastics Asia-Pacific Sdn Bhd, Behn Meyer Polymers Sdn Bhd, Lotte Chemical Titan Holding Berhad

Recent Developments

  • In August 2021, Toray Industries set up new facilities in Prai Industrial Park, Penang, Malaysia. These new facilities boosted the company’s ABS production capacity by 75,000 metric ton per year, to 425,000 metric tons per year.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Rising Demand from the Food and Beverage Packaging Sector

    2. 4.2 Restraints

      1. 4.2.1 Environmental Concerns

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Price Trend Analysis

    6. 4.6 Imports and Exports

  5. 5. MARKET SEGMENTATION (Overview, Market Size, Growth, and Forecast in Volume)

    1. 5.1 Type

      1. 5.1.1 Traditional Plastics

      2. 5.1.2 Engineering Plastics

      3. 5.1.3 Bioplastics

    2. 5.2 Technology

      1. 5.2.1 Blow Molding

      2. 5.2.2 Extrusion

      3. 5.2.3 Injection Molding

      4. 5.2.4 Other Technologies

    3. 5.3 Application

      1. 5.3.1 Packaging

      2. 5.3.2 Electrical and Electronics

      3. 5.3.3 Building and Construction

      4. 5.3.4 Automotive and Transportation

      5. 5.3.5 Housewares

      6. 5.3.6 Furniture and Bedding

      7. 5.3.7 Other Applications

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles (Overview, Financials, Products and Services, and Recent Developments)

      1. 6.4.1 Behn Meyer Polymers Sdn Bhd

      2. 6.4.2 BP Plastics Holding Bhd

      3. 6.4.3 Commercial Plastic Industries

      4. 6.4.4 CYL Corporation Bhd

      5. 6.4.5 EE-LIAN Enterprise M Sdn Bhd

      6. 6.4.6 Fu Fong Plastic Industries Sdn Bhd

      7. 6.4.7 Guppy Plastic Industries Sdn Bhd

      8. 6.4.8 Hicom-Teck See Manufacturing Malaysia Sdn Bhd

      9. 6.4.9 Lam Seng Plastics Industries Sdn Bhd

      10. 6.4.10 Lotte Chemical Titan Holding Berhad

      11. 6.4.11 Malayan Electro-Chemical Industry Co. Sdn Bhd

      12. 6.4.12 Meditop Corp Sdn Bhd

      13. 6.4.13 Metro Plastic Manufacturer Sdn Bhd

      14. 6.4.14 Polyplastics Asia Pacific Sdn Bhd

      15. 6.4.15 Sanko Plastics (Malaysia) Sdn Bhd

      16. 6.4.16 Scientex

      17. 6.4.17 Teck See Plastic Sdn Bhd

      18. 6.4.18 Toray Plastics Sdn Bhd

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
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Frequently Asked Questions

The Malaysia Plastics Market market is studied from 2017 - 2027.

The Malaysia Plastics Market is growing at a CAGR of >3% over the next 5 years.

Toray Plastics Sdn Bhd, Polyplastics Asia-Pacific Sdn Bhd, Behn Meyer Polymers Sdn Bhd, Lotte Chemical Titan Holding Berhad are the major companies operating in Malaysia Plastics Market.

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