Manufacture Of Wood And Wood Products Including Furniture Companies in Malaysia

The Malaysian furniture industry is a growing sector of the country’s manufacturing sector. The industry is expected to grow at a compound annual growth rate (CAGR) of 9.6% from 2016 to 2021. The furniture industry in Malaysia is export-oriented and is expected to generate revenue of MYR 13.4 billion (US$ 3.4 billion) by 2021.

The furniture industry in Malaysia is highly fragmented with a large number of small and medium enterprises (SMEs). The top five furniture companies in Malaysia accounted for only 16.6% of the total industry revenue in 2016. The industry is expected to be consolidated in the future as the larger companies expand their operations and market share.

The furniture companies in Malaysia are expected to benefit from the country’s growing economy and rising middle class. The industry is also expected to benefit from the government’s initiatives to promote the furniture industry, such as the Malaysian Furniture Promotion Council (MFPC) and the Malaysian Furniture Industry Association (MFIA).

The furniture companies in Malaysia are expected to face challenges from the rising cost of raw materials, competition from low-cost countries, and the slowdown in the global economy.