Chemicals and
Chemical Products
In 2022, the chemicals industry rebounded from COVID-19 disruptions, with sectors like healthcare, cosmetics, and electronics driving demand. Industries along the value chain are poised for growth based on 2023 global trends.
Trends involve digitalization and Industry 4.0 due to pandemic constraints. ‘Greening’ industrial production through sustainable practices gains global traction. Industrial production shifts from North Atlantic to East Asia, especially China, Japan, and South Korea.
The government introduces the Chemical Industry Roadmap (CIR) 2030 to guide sector development. Aligning investments with CIR objectives fosters competitiveness, aiding Malaysia’s growth.
Investment prospects include energy storage (green hydrogen and batteries) and rare-earth elements (REEs) production. Malaysia aims to be a green hydrogen hub, welcoming battery manufacturing and REEs development.
Second-gen biofuels like hydrogenated vegetable oil (HVO) offer investment opportunities. HVO, resembling diesel, powers vehicles and can be upgraded into a sustainable aviation fuel. Local HVO feedstock sourcing is sought after due to inadequate used cooking oil collection.
Inorganic
Chemicals
Agricultural
Chemicals
Industrial
Gases
Fertilisers
Paint and
Printing Ink