The import of resinoids to India shows a consistent declining trend from 2024 to 2028. Starting from an actual value of 59.1 thousand kilograms in 2024, the volume is projected to reduce annually, reaching 50.13 thousand kilograms by 2028. This represents a compound annual growth rate (CAGR) of approximately -4.1% over the forecasted five-year period.
In terms of year-on-year movements, the import volumes demonstrate a steady decrease each year, highlighting a shift possibly due to changing domestic production dynamics, alternative material usage, or policy adjustments affecting imports.
Future trends to watch for include:
- Potential changes in trade policies that could affect import tariffs or quotas.
- Innovations in synthetic or alternative resinoid materials impacting demand.
- Macroeconomic factors influencing currency stability and import viability.
