In 2023, India's import of coniferous (softwood) lumber stood at 768.6 thousand cubic meters. From 2024 to 2028, a steady increase is projected, reaching 956.61 thousand cubic meters by 2028. Year-on-year growth for 2024 is expected at 4.9%, with consistent annual increases: 4.8% in 2025, 4.5% in 2026, 4.2% in 2027, and 4% in 2028. The compound annual growth rate (CAGR) from 2024 to 2028 is estimated at 4.46%.
Future trends to watch for:
- Economic factors impacting construction and infrastructure development.
- Shifts in India's policies regarding imports and sustainability practices.
- Technological advancements in the forestry and lumber industry.
- Global supply chain dynamics and trade relations.
