As of 2023, the import value of veneer or ply sheets of non-coniferous or tropical wood to India stood at approximately 285 million USD. The forecasted data for 2024 to 2028 shows a consistent upward trend in imports, starting from 301.07 million USD in 2024 and reaching 363.27 million USD by 2028. The expected year-on-year growth is between 5% to 6%, with a 5-year CAGR reflecting a stable growth trajectory of about 4.99%.
Future trends to watch for include potential fluctuations in global wood supply due to environmental regulations, changes in trade policies impacting costs, and indigenous market competition as domestic production seeks to meet rising demands.
