Technavio, a leading global technology research and advisory company, has added a new report on Malaysia’s textile manufacturing market which suggests that the market could grow by 2.35 Bn in 2026. The new report titled “Textile Manufacturing Market In Malaysia by Product (natural fibers, polyesters, nylon, and others) and Application (fashion, technical, household, and others) – Forecast and Analysis 2022-2026” indicates that the said market will grow with a CAGR of 4.7%.
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The well-established textile industry in Malaysia and the high export of textile industry products are some of the key market drivers.
Malaysia has a thriving textile sector with many textile manufacturing enterprises. Malaysia’s industrial master plan has enhanced product quality, kept prices affordable, and increased export-oriented marketing. Malaysia’s textile sector has high expectations for the future to strengthen the country’s economy.
Various textile manufacturing firms in Malaysia provide a wide range of textile items with various applications in people’s daily lives.
Textile companies also provide buyers with high-quality textile products at affordable prices, fueling the market’s expansion in Malaysia over the projection period. However, health hazards in the textile industry will challenge market growth.
