The import of veneer or ply sheet of non-coniferous or tropical wood to India is forecasted to rise from 402.03 million kilograms in 2024 to 480.78 million kilograms in 2028, indicating steady growth. In 2023, the import volume was slightly lower, suggesting a consistent upward trajectory.
Year-on-year variations show modest increments, with each year witnessing moderate growth as follows:
- 2024-2025: 5.04%
- 2025-2026: 4.71%
- 2026-2027: 4.41%
- 2027-2028: 4.13%
The compound annual growth rate (CAGR) from 2024 to 2028 is approximately 4.56%, reflecting a steady demand increase.
Future trends to watch for include potential fluctuations due to changes in India's construction and furniture industries, environmental regulations affecting timber sourcing, and global trade dynamics influencing supply chains.
