The fibreboard production in India has shown a steady growth trend over the last decade. In 2013, production stood at 783.2 thousand cubic meters and increased to 1233.9 thousand cubic meters by 2023. This marks a significant rise, especially notable after 2017 when production began to surge more quickly. The year-on-year growth shows the highest spike in 2017 by 23.07%, attributed to industry expansion and increased demand in the housing and construction sectors. The CAGR over the past five years, up to 2023, averages at 2.22%, indicating a moderate but consistent increase.
From 2024 onwards, fibreboard production is forecasted to continue its steady climb, reaching 1419.6 thousand cubic meters by 2028. This forecast reflects an average yearly growth of 2.22% over the five years. Key factors expected to influence this trend include advancements in production technology, sustainable forestry practices, and growing demand from the urbanization and infrastructure development sectors.
Future trends to watch for:
- Advancements in eco-friendly production processes.
- Increased utilization of agricultural residues for fibreboard manufacturing.
- Expansion in the domestic furniture and home renovation markets.
- Potential supply chain disruptions or enhancements related to raw materials.
- Impact of regulatory policies on sustainable production practices.
