The import of gum, wood, or sulphate turpentine oils to India is forecasted to show a steady growth from 2024 through 2028. Based on the projected volume data, India looks to experience a consistent increase in imports, starting from 73.653 million kilograms in 2024 to an anticipated 86.21 million kilograms by 2028. Comparing these figures to the actual data from 2023, while not explicitly provided, would typically show a notable rise in demand year-on-year, reflecting economic growth and rising industrial applications.
The projected forecast implies an average yearly increase in import volume, with particular emphasis on:
- A progressive annual growth in import volumes from 2024 through 2028.
- A compound annual growth rate (CAGR) signifying a sustained expansion in demand.
Future trends to watch for include:
- Ongoing industrial development and expanding consumer markets in India, which may further boost demand.
- Potential regulatory changes impacting import duties or incentives for domestic production.
- Adaptation to sustainable and eco-friendly alternatives in production processes, influencing import needs.
