Malaysia Plastics Market Size
| 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.
Malaysia Plastics Market Trends
This section covers the major market trends shaping the Malaysia Plastics Market according to our research experts:
Rising Demand from Food and Beverage Packaging Applications
Malaysia is a major economy in Southeast Asia. The country's GDP growth moderated to 4.4% in 2019 and was the lowest since the Global Financial Crisis in 2009. Malaysia's economy will contract by -5.6% in 2020, the worst since the Asian Financial Crisis in 1998.Malaysia's economy grew by 3.1% in 2021, and it is further expected to grow to 5.4% in 2022, according to the IMF forecasts.
- 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 (a local information provider owned by TMR Media Sdn Bhd), Malaysia's annual per capita plastic packaging consumption is high among Southeast Asian countries, at 16.78 kg/person.
- 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.
During the forecast period, these things are likely to make more people want to buy plastic packaging in the country.
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.
- 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.
- 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, agricultural, 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 tons.
Such factors are expected to boost the demand for bioplastics and drive the Malaysian plastics market in the coming years.
Malaysia Plastics Industry Overview
The Malaysian plastics market is consolidated due to the limited presence of plastic resin manufacturers in the country. The major players (not in any particular order) include Toray Plastics Sdn Bhd, Lotte Chemical Titan Holding Berhad, Behn Meyer Malaysia Sdn Bhd, Polyplastics Asia Pacific Sdn Bhd, and Malayan Electro-Chemical Industry Co. Sdn Bhd.
Malaysia Plastics Market Leaders
Toray Plastics Sdn Bhd
Polyplastics Asia-Pacific Sdn Bhd
Behn Meyer Polymers Sdn Bhd
Lotte Chemical Titan Holding Berhad
Malayan Electro-Chemical Industry Co. Sdn Bhd.
*Disclaimer: Major Players sorted in no particular order
Malaysia Plastics Market News
- March 2022: Lotte Chemical Titan reduced the production capacity of various plastics such as polyethylene and polypropylene to 85-90 percent because of increasing feedstock costs.
- 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.
Malaysia Plastics Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Rising Demand from the Food and Beverage Packaging Applications
4.2 Restraints
4.2.1 Environmental Concerns
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Price Trend Analysis
4.6 Imports and Exports
5. MARKET SEGMENTATION (Market Size in Volume)
5.1 Type
5.1.1 Traditional Plastics
5.1.2 Engineering Plastics
5.1.3 Bioplastics
5.2 Technology
5.2.1 Blow Molding
5.2.2 Extrusion
5.2.3 Injection Molding
5.2.4 Other Technologies
5.3 Application
5.3.1 Packaging
5.3.2 Electrical and Electronics
5.3.3 Building and Construction
5.3.4 Automotive and Transportation
5.3.5 Houseware
5.3.6 Furniture and Bedding
5.3.7 Other Applications
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles (Overview, Financials, Products and Services, and Recent Developments)
6.4.1 Behn Meyer Polymers Sdn Bhd
6.4.2 BP Plastics Holding Bhd
6.4.3 Commercial Plastic Industries
6.4.4 CYL Corporation Bhd
6.4.5 EE-LIAN Enterprise M Sdn Bhd
6.4.6 Fu Fong Plastic Industries Sdn Bhd
6.4.7 Guppy Plastic Industries Sdn Bhd
6.4.8 Hicom-Teck See Manufacturing Malaysia Sdn Bhd
6.4.9 Lam Seng Plastics Industries Sdn Bhd
6.4.10 Lotte Chemical Titan Holding Berhad
6.4.11 Malayan Electro-Chemical Industry Co. Sdn Bhd
6.4.12 Meditop Corp Sdn Bhd
6.4.13 Metro Plastic Manufacturer Sdn Bhd
6.4.14 Polyplastics Asia Pacific Sdn Bhd
6.4.15 Sanko Plastics (Malaysia) Sdn Bhd
6.4.16 Scientex
6.4.17 Teck See Plastic Sdn Bhd
6.4.18 Toray Plastics Sdn Bhd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Potential Growth in Aerospace Sector
7.2 Increasing Usage of Bio-degradable Plastics
7.3 Increase in Recycling of Plastics
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 |
Malaysia Plastics Market Research FAQs
How big is the Malaysia Plastics Market?
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.
What is the current Malaysia Plastics Market size?
In 2024, the Malaysia Plastics Market size is expected to reach USD 3.89 billion.
Who are the key players in Malaysia Plastics Market?
Toray Plastics Sdn Bhd, Polyplastics Asia-Pacific Sdn Bhd, Behn Meyer Polymers Sdn Bhd, Lotte Chemical Titan Holding Berhad and Malayan Electro-Chemical Industry Co. Sdn Bhd. are the major companies operating in the Malaysia Plastics Market.
What years does this Malaysia Plastics Market cover, and what was the market size in 2023?
In 2023, the Malaysia Plastics Market size was estimated at USD 3.74 billion. The report covers the Malaysia Plastics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Malaysia Plastics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Plastic in Malaysia Industry Report
Statistics for the 2024 Plastic in Malaysia market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Plastic in Malaysia analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
