Malaysia Textile Manufacturing Market Trends, Growth Drivers, Revenue, Key Players, Challenges, Opportunities and Future Scope Till 2033


Malaysia Textile Manufacturing Market Trends, Growth Drivers, Revenue, Key Players, Challenges, Opportunities and Future Scope Till 2033: SPER Market Research

 Published: Sep-2023
 Author: SPER Analyst

Malaysia Textile Manufacturing Market is projected to be worth USD XX billion by 2033 and is anticipated to surge at a CAGR of 4.81%.

Textiles encompass the fundamental materials crafted from interwoven fibers, with additional techniques like sewing employed to fashion them into garments, clothing, and various products. The primary textile categories include other textile product manufacturing, fabrics, yarn, fibers and threads, home furnishings and floor coverings, textile and fabric finishing, and fabric coating mills. Home furnishings encompass all movable, compactable items or equipment used for household furnishing, including chairs, tables, sofas, mattresses, and more. These materials encompass a range of options like cotton, jute, silk, synthetics, and wool, and involve various processes including weaving and non-weaving techniques.

Malaysia Textile Manufacturing Market Driving Factors and Challenges

There are various factors that drive the textile industry in Malaysia. Companies have reported notable increases in output, new orders, purchasing activities, and employment. Malaysia is gaining recognition as an emerging global fashion hub, with many local fashion designers looking forward to the future. The country is experiencing a gradual rise in the number of individuals in a specific age group, a trend expected to continue in the foreseeable future. Given this demographic's preference for fast fashion, the apparel sector is anticipated to witness increased demand in the forecasted period. These factors collectively contribute to the industry's growth prospects in the coming years. The increasing participation of women in the workforce and rising incomes are empowering women financially, likely leading them to use modern fashion as a means of self-expression and enhancing their self-confidence. Many Malaysian fashion designers are optimistic about this potential, positioning Malaysia as a burgeoning fashion hub and contributing to the growth of the textile industry in the country.

However, several challenges continue to exist in the textile market in Malaysia. The primary challenge in the market arises from the unpredictable fluctuations in crude oil prices. Textiles can be categorized as natural or synthetic, with synthetic textiles produced from polymers obtained from petroleum through polymerization. Since oil serves as the primary raw material for polymer production, polymer prices are intricately tied to oil prices, which have exhibited consistent fluctuations over the past decade. These price shifts consequently impact the global textile manufacturing market's operations. The oscillating crude oil prices have necessitated vendors to implement various cost-cutting strategies, including the reduction of non-essential operational expenses, while suppliers have been compelled to lower their costs. These factors are anticipated to impede the growth of the global textile industry throughout the forecast period.

Impact of COVID-19 on Malaysia Textile Manufacturing Market 
Due to the COVID-19 pandemic, the industry for textile production experienced difficulties in 2020 and 2021. As a response, manufacturers embraced digital technologies and reorganised their procurement and distribution networks. In the following years, it is anticipated that these initiatives would result in industry growth. Aside from the downturn during the COVID-19 lockout limitations, the textile industry in the region continues to innovate, resulting in a stable increasing trajectory.

Malaysia Textile Manufacturing Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Asia Brands Berhad, D&Y Textile (Malaysia) Sdn Bhd, Esquel Malaysia Sdn. Berhad, Kamunting Spinning Industries Sdn Bhd, KIB Textiles Bhd, Kima Sdn Bhd, Manwira Manufacturing Sdn Bhd, Penfabric Sdn. Berhad, Ramatex Textiles Industrial Sdn Bhd, San Miguel Yamamura Woven Products Sdn Bhd, Vicmark Fashion Sdn Bhd, Others.

Malaysia Textile Manufacturing Market Segmentation:

By Process Type: Based on the Process Type, Malaysia Textile Manufacturing Market is segmented as; Finishing, Knitting, Spinning, Weaving, Other Process Types.

By Textile Type: Based on the Textile Type, Malaysia Textile Manufacturing Market is segmented as; Fabric, Fiber, Garments, Yarn, Other Textile Types.

By Equipment and Machinery: Based on the Equipment and Machinery, Malaysia Textile Manufacturing Market is segmented as; Automated Machines, Console/Assembly Line Installations, Simple Machines.

By Region: This research also includes data for East Malaysia, Peninsular Malaysia, West Malaysia.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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