In 2023, the actual import value of veneer sheets and sheets for plywood with a thickness not exceeding 6 mm to India stood at $307.45 million. The forecasted data from 2024 to 2028 shows a consistent increase in imports, with values rising from $322.68 million in 2024 to $381.67 million in 2028.

The year-on-year growth rate indicates a steady increase: 2024 to 2025 by 4.72%, 2025 to 2026 by 4.39%, 2026 to 2027 by 4.13%, and 2027 to 2028 by 3.90%. The Compound Annual Growth Rate (CAGR) over this five-year period is 4.17%.

Future trends to watch for include:

Potential impact of India’s economic growth on construction and furniture industries, which could drive higher demand.
Shifts in trade policies affecting plywood and veneer imports.
Emergence of sustainable and eco-friendly materials influencing market preferences.