The forecast for the import of coniferous (softwood) lumber to India shows a steady growth from 261.14 million kilograms in 2024 to 305.04 million kilograms by 2028. Starting from data in 2023, India experienced a continuous rise in softwood imports, with year-on-year increases of approximately 4-5%. This reflects a compound annual growth rate (CAGR) of around 4% over the five-year forecast period, indicative of a consistently growing demand in the market.
Future trends to watch include:
- Potential impacts of environmental policies and sustainability initiatives on lumber imports.
- Fluctuations in global demand and supply dynamics influenced by construction booms or slowdowns.
- Exchange rate changes affecting import costs.
- Technological advancements in using alternative materials reducing the reliance on traditional lumber.
