KUALA LUMPUR: The Malaysian tile industry faces several significant challenges that the market must navigate to sustain and grow in a competitive and ever-evolving environment, according to market insiders.
"The industry is highly competitive, with numerous local and international players. This saturation can lead to price wars, reduced profit margins, and difficulties in maintaining market share.
"Additionally, the rising costs of raw materials such as clay, feldspar, and other minerals are highly volatile. Any increase in these costs directly impacts production expenses for tile manufacturers, squeezing profit margins," he told the Business Times.
He noted that keeping up with rapid technological advancements requires continuous investment in new machinery and processes.
Smaller companies may struggle to afford these investments, leading to a competitive disadvantage.
"The need to innovate continuously to meet changing consumer preferences and design trends can be resource-intensive. Failing to innovate can result in losing market relevance," the insider said.
YB Ventures Berhad (YBV) acknowledges that the industry is continually evolving, with increasing demand for innovative and high-quality products.
Chairman Datuk Sri Tajudin Md. Isa said that the company aims to transform tiles from mere functional items into integral elements of stylish and modern living spaces.
Recently, YBV launched new tile products under the Alpha Tiles and Talos Living Tiles brands to offer customers infinite design possibilities.
According to Tajudin, the new tile series addresses common challenges faced by consumers, such as matching tiles in different areas with varying sizes and surfaces.
The innovative production process ensures high quality and durability, leading to longer-lasting installations and reduced replacement needs, he said.
Datuk Au Yee Boon, executive director of YBV, noted that the new products are designed for tech-savvy, and art-oriented buyers who appreciate unique and innovative items.
"Our comprehensive range, complete with multiple sizes and stock availability, sets us apart from competitors," he said.
According to him, YBV's marketing arm, Yi-Lai Industry, has secured interest from significant projects, including the Sheraton Hotel in Johor Bahru.
"This is just the beginning of our journey with these new products, and we are excited about the potential collaborations and market expansion," he said.