The import of wood-based panels to Kenya has seen significant growth over the past decade, with actual imports standing at 241.48 thousand cubic meters in 2023. The year-on-year growth for 2023 was 10.34%, with the compound annual growth rate (CAGR) over the past five years at 7.58%. Future forecasts indicate a continued upward trend, with imports expected to reach 329.82 thousand cubic meters by 2028, representing a forecasted 5-year CAGR of 4.91% and an overall growth rate of 27.1%.
Future trends to watch for:
- Sustained growth driven by increasing demand in the construction and furniture sectors.
- Potential impact of economic factors such as inflation and exchange rates on import volumes.
- Regulatory changes affecting the import and utilization of wood-based products.
