Market Size of Malaysia Textile Manufacturing Industry
| Study Period | 2024-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 3.32 Billion |
| Market Size (2029) | USD 4.26 Billion |
| CAGR (2024 - 2029) | 5.10 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Malaysia Textile Manufacturing Market Analysis
The Malaysia Textile Manufacturing Market size is estimated at USD 3.32 billion in 2024, and is expected to reach USD 4.26 billion by 2029, growing at a CAGR of 5.10% during the forecast period (2024-2029).
- The Association of Southeast Asian Nations (ASEAN) region's textile manufacturing industry grew in September 2022 at the fastest rate during the last year. Companies reported sharper gains in output, new orders, purchasing activity, and employment. The growth of the industry is looked forward to, by many Malaysian fashion designers, and the country is therefore recognized as a developing global fashion hub.
- The number of Malaysians in this age group has been rising gradually in recent years, and the projected period is expected to see this trend continue. Because of this group's propensity for fast fashion, the apparel sector will see a spike in demand during the forecasted period.
- Despite this fact, the industry is now coming back to normal. During the pandemic, the manufacturers started restructuring their sourcing and distribution channels. They also worked on enabling digital solutions. Due to all these efforts, the industry will see growth in the coming years. Malaysian textile manufacturing industry is highly versatile, with firms producing a wide variety of textiles, like natural fiber, synthetic fiber, natural yarn, woven yarn, knitted fabrics, woven fabrics, non-woven fabrics, bleached fabrics, dyed fabrics, finished fabrics, and printed fabrics. Malaysian textile manufacturers are also known for their ability to offer ready-to-wear apparel, home textile products, and industrial textile products.
- The industry has a few competitors in the region, including Indonesia, Vietnam, Pakistan, Sri Lanka, China, Cambodia, and Bangladesh. This lower-cost competition led Malaysia to introduce smarter processes and more efficient manufacturing and distribution tech adoptions. The US is a leading importer of the textile products that Malaysia exports. It imported USD 266.254 billion worth of textile products from Malaysia in 2021. As the US economy is strong and has been able to withstand challenges historically, the textile manufacturing market in Malaysia has a promise of stable revenues that will only disappear after a while.
