As of 2023, the import volume of plywood with 1 or 2 outer ply non-coniferous to India stood at approximately 20.60 thousand cubic meters. The forecast data from 2024 to 2028 indicates a steady growth trend, with import volumes projected to rise annually. Between 2023 and 2024, the import volume is expected to increase by 3.06%. Notably, there is a consistent annual growth in subsequent years, with an average yearly increase of around 2.80% (CAGR) from 2024 to 2028. This trend reflects a robust demand and a gradual expansion of construction and related sectors in India.
Future trends to watch for include:
- Potential fluctuations due to changes in trade regulations or tariffs.
- Impact of sustainable forestry practices and certifications on import preferences.
- Macroeconomic factors influencing the construction industry, impacting demand for high-quality non-coniferous plywood.
