The import value for veneer or ply sheets of tropical woods to India showed a consistent growth from 2024 to 2028, with figures forecasted to increase from $126.67 million to $150.41 million. This indicates a steady year-on-year growth rate averaging around 3.5% over the period, highlighting a positive upward trend compared to previous years. In 2023, the import value stood at a lower baseline, reinforcing the growth depicted in forecast data for subsequent years.
Future trends to watch for include:
- Potential impacts of global trade policies on tropical wood imports.
- Trends in domestic demand for tropical wood-driven industries, such as furniture and construction.
- Innovations in sustainable sourcing practices and their influence on import dynamics.
- Fluctuations in currency exchange rates and their impacts on import costs.
