ANNUAL 2023 WINNERS-wood and wood product company
Products

ANNUAL 2023 WINNERS-wood and wood product company

India has the 4th largest market size for wood and wood products regionally, with demand reaching $ 21.5 billion in 2021. The industry is dominated by domestic suppliers, as imports account for 3.8 per cent of total market size. The cost of the industry increased by 15.1 per cent in 2021, largely driven by rising B2B costs. The B2B spend represents 92.7 per cent of total demand. The industry’s profitability stood at 19.5 per cent of production value in 2021, the second highest regionally. With a production value of $ 26.9 billion, India accounts for 6.8 per cent of the Asia Pacific.

The wood products market registered a growth of 8.55 per cent in value shipments in 2022, compared to 2021, and a decrease of -11.51 per cent CAGR in 2022 over a period of 2017. India is becoming more competitive in the market with a HHI index of 1,737 in 2022 compared to 3,648 in 2017. India has reportedly relied more on domestic production to meet its growing demand and the trend is shifting towards reducing imports. The import factor of the wood products Market in 2022 was 0.15 while it was 0.48 in 2017. China, Malaysia, Sri Lanka, Singapore and Thailand were among the top players of the market in 2022, where China acquired the largest market share of 29.09 per cent with a shipment value of $ 32.92 million in 2022. 

To read the full story, CLICK HERE.

India has the 4th largest market size for wood and wood products regionally, with demand reaching $ 21.5 billion in 2021. The industry is dominated by domestic suppliers, as imports account for 3.8 per cent of total market size. The cost of the industry increased by 15.1 per cent in 2021, largely driven by rising B2B costs. The B2B spend represents 92.7 per cent of total demand. The industry’s profitability stood at 19.5 per cent of production value in 2021, the second highest regionally. With a production value of $ 26.9 billion, India accounts for 6.8 per cent of the Asia Pacific.The wood products market registered a growth of 8.55 per cent in value shipments in 2022, compared to 2021, and a decrease of -11.51 per cent CAGR in 2022 over a period of 2017. India is becoming more competitive in the market with a HHI index of 1,737 in 2022 compared to 3,648 in 2017. India has reportedly relied more on domestic production to meet its growing demand and the trend is shifting towards reducing imports. The import factor of the wood products Market in 2022 was 0.15 while it was 0.48 in 2017. China, Malaysia, Sri Lanka, Singapore and Thailand were among the top players of the market in 2022, where China acquired the largest market share of 29.09 per cent with a shipment value of $ 32.92 million in 2022. To read the full story, CLICK HERE.

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000