The production of plywood in India has shown a fluctuating yet generally upward trend from 2013 to 2023. Starting at 5.274 million cubic meters in 2013, it peaked significantly in 2017 at 8.97 million cubic meters. Production stabilized around the 10 million cubic meters mark from 2019 to 2022, before experiencing a slight increase to 10.524 million cubic meters in 2023. Over the past two years, the year-on-year growth was a steady 4.62%, and the last five years show a lower CAGR of 1.98%, reflecting a period of slower growth recently.
Looking ahead, forecasted data suggests moderate growth in India’s plywood production continuing, with projections indicating an increase to 12.386 million cubic meters by 2028. The forecasted five-year CAGR is 2.58% with overall growth projected at 13.59% from 2023 to 2028.
Future trends to watch out for include sustained innovations in manufacturing technologies, potential shifts in regulatory environments, and evolving market demand specifically driven by urbanization and infrastructure development in India.
