Market Size of Malaysia Plastics Industry
| 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
*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.
