The import of cresols to India is forecasted to increase steadily from 15.657 million kilograms in 2024 to 17.538 million kilograms by 2028. From 2024 to 2025, the year-on-year change is expected to be approximately 3.10%, with a similar pattern of growth, averaging around 2.90% annually based on the given growth percentages. The compound annual growth rate (CAGR) for the period 2024 to 2028 is estimated to be about this value, indicating consistent growth in import volumes.
In 2023, the actual import stood lower than the 2024 forecast, suggesting an upward trend beginning from 2024. It is vital to note that factors such as global demand, domestic production capabilities, and trade policies could influence future import levels. Monitoring changes in international market conditions and domestic industry needs will be critical for anticipating significant shifts in cresol imports beyond 2028.
