Malaysia Cement Industry Projected to Increase Production from 24.05 Million Metric Tonnes in 2024 to 33.35 Million Metric Tonnes by 2033
The Malaysia Cement Industry Research Report 2024-2033 reveals that Malaysia's cement industry is one of the important industries in the country, with strong demand driven by ongoing major infrastructure projects.
Title: Malaysia Cement Industry Projected to Increase Production from 24.05 Million Metric Tonnes in 2024 to 33.35 Million Metric Tonnes by 2033
Excerpt: The Malaysia Cement Industry Research Report 2024-2033 reveals that Malaysia's cement industry is one of the important industries in the country, with strong demand driven by ongoing major infrastructure projects. The report forecasts a 3.7% compound annual growth rate (CAGR) for cement production in Malaysia, increasing from 24.05 million metric tonnes in 2024 to 33.35 million metric tonnes by 2033.
Body Text: The Malaysia Cement Industry Research Report 2024-2033, recently added to ResearchAndMarkets.com's offering, highlights the cement industry's significant role in Malaysia, driven by the country's leading manufacturing and construction industries in Southeast Asia. The demand for cement in Malaysia remains strong, largely due to ongoing major infrastructure projects that serve as key pillars supporting the medium-to-long-term growth of the cement industry.
The report projects that cement production in Malaysia will increase from 24.05 million metric tonnes in 2024 to 33.35 million metric tonnes by 2033, exhibiting a compound annual growth rate (CAGR) of 3.7%. This growth is attributed to several factors, including low inventory levels, a focus on emerging sectors like solar panels and electric vehicles, and the anticipated recovery in China's manufacturing and property sectors.
The cement market has shown a robust performance, with bulk cement sales experiencing significant growth. The report covers various topics, including an overview of the Malaysia cement industry, the economic and policy environment, market size from 2019 to 2023, and an analysis of major Malaysian cement manufacturers.
The top five cement manufacturers in Malaysia are YTL Cement Berhad, Lafarge Rawang Plant, Hume Cement Sdn. Bhd., Tasek Corporation Berhad (TCB), and Cement Industries of Malaysia Berhad (CIMA). These companies play a crucial role in the industry's growth and development[1].
The report also discusses factors influencing the development of the Malaysia cement industry, including drivers, opportunities, threats, and challenges. Additionally, it provides a supply forecast of the Malaysia cement industry from 2024 to 2033 and a demand forecast for the same period[1].
In summary, the Malaysia Cement Industry Research Report 2024-2033 highlights the cement industry's significant role in Malaysia's economy and its strong growth potential. The industry's expansion is driven by ongoing infrastructure projects, low inventory levels, and a focus on emerging sectors. The report forecasts a 3.7% CAGR for cement production in Malaysia, increasing from 24.05 million metric tonnes in 2024 to 33.35 million metric tonnes by 2033[1].
Source: https://www.globenewswire.com
