The import of boards of vegetable fibre with mineral binder or cement to India is projected to grow steadily from 2024 to 2028, with a Compound Annual Growth Rate (CAGR) of approximately 3.8%. In 2023, the actual import volume was slightly below the 2024 forecast value of 8.126 million kilograms. The year-on-year growth forecast shows an increasing trend with a rise of around 4% per annum, suggesting a consistent demand for these materials in India's construction sector.
Future trends to watch for include:
- Increased demand driven by sustainable and eco-friendly construction practices.
- Potential regulatory impacts related to import tariffs or environmental standards.
- Technological innovations in construction materials that may influence import dynamics.
- Macroeconomic factors affecting the Indian economy that could alter growth projections.