The import value of plywood with 1 or 2 outer ply tropical hardwood to India is projected to increase gradually from 2024 to 2028. Starting at $72.015 million in 2024, the forecast showcases a steady year-on-year rise, culminating in $85.453 million by 2028. This indicates a Compound Annual Growth Rate (CAGR) of approximately 4.3% from 2024 to 2028. The increase reflects consistent demand and possibly growing construction activities aligning with structural and furniture projects in India.
Future trends to watch for:
- Potential regulatory changes affecting imports of tropical hardwood.
- Shifts in global trade policies and tariffs that could impact pricing or supply chains.
- Technological advancements in plywood manufacturing and sustainable sourcing practices.
- Fluctuations in domestic demand driven by infrastructure development projects.
