The import of veneer or ply sheet of tropical woods to China is forecasted to decrease from 2024 to 2028. Starting at $5.789 million in 2024 and declining steadily to $3.3853 million by 2028, this represents a continuous downturn in value. From the actual value in 2023, the forecast shows a year-on-year decline continuing into the future, averaging a notable annual contraction evident in the forecast by the compound annual growth rate (CAGR) calculated over the five-year period.
Future trends to watch for include shifts in Chinese demand due to economic changes, policies affecting deforestation and sustainable practices, and alternative material adoption which may accelerate the decline or reverse it based on new regulations or material alternatives becoming commercially viable.
