The production of wood-based panels in India has exhibited significant growth over the past decade, increasing from 6.4 million cubic meters in 2013 to 13.2 million cubic meters in 2023. The year-on-year variation indicates substantial fluctuations, with a particularly notable surge of 45.21% in 2017. From 2019 to 2022, the growth stabilized with moderate increases, and a slight uptick of 5.05% was observed in 2023. The Compound Annual Growth Rate (CAGR) reflects an average annual increase of 2.43% over the last five years. Forecast data predicts a steady rise, with production anticipated to reach 15.6 million cubic meters by 2028, representing a forecast CAGR of 2.61%.
Future trends to watch for include the impact of policy changes on forestry management, advancements in production technology, and shifts in domestic and international demand for wood-based panels. Sustainability practices and eco-friendly innovations will also play a crucial role in shaping production trends.
