In 2024, India is forecasted to import 7.6803 Million Kilograms of shuttering for concrete constructional work of wood, up from the actual 2023 figures. By 2028, imports are expected to reach 9.225 Million Kilograms. The projected year-on-year growth from 2024 to 2028 shows a consistent upward trend, with annual increases: 2024 to 2025 at 5.2%, 2025 to 2026 at 4.8%, 2026 to 2027 at 4.5%, and 2027 to 2028 at 4.2%. Over five years, a compound annual growth rate (CAGR) is anticipated, demonstrating a steady expansion in demand for shuttering wood in India’s construction industry.
Future trends to watch for:
- The potential impact of infrastructure development initiatives that could further accelerate the import growth rate.
- Emerging environmental regulations that may encourage shifts towards sustainable materials, altering demand patterns.
- Advancements in construction technology and techniques influencing the types and quantities of materials employed.
