Malaysia is a dominant player in the world's furniture market
Demand for wooden furniture manufactured in Malaysia is expected to grow at a CAGR of 5.0% annually from 2017 to 2021
Strong demand from the U.S
U.S. wooden household furniture imports are expected to grow at a CAGR of 3.7% from 2017 to 2020, reaching US$13.2 billion by 2020
Potential demand growth from PRC
PRC's import of wooden furniture increased by 79.8% from 2011 to US$563.6 million in 2016
Weakening of the Malaysian Ringgit against the US Dollar has made Malaysian furniture imports more attractive to the U.S.
The Ringgit has depreciated approximately 33% against the USD from 2013 to 2016
Support and incentives from the government and industry associations for Malaysian furniture manufacturers to boost their productivity
The Malaysian government and relevant government-related bodies, as well as associations, are helping Malaysian wooden furniture manufacturers to streamline their production and develop high value products
Malaysia is being recognised as a producer of quality furniture
With more than three decades of track record in furniture manufacturing, the furniture manufacturing industry in Malaysia is well-perceived as a producer of quality furniture
Improving manufacturing processes further elevates industry capabilities
