Due to rebound in furniture activity and rising faith in the quality of Indian plywood quality following the emergence of calibrated plywood, the demand scenario for wood products is expected to remain bullish.
We can see that the pendency of calibrated plywood dispatch at various factories which are running at around 15 to 20 days. We can also see the quality QCO showing a positive impact on quality upliftment on the plywood factories who are really gearing up with labs and quality parameters.It has also increased jobs in the wood panel segment apart from the increase in demand.
Despite the growth of MDF and Particle board products, Plywood is also consolidating its position with acceptance of calibrated plywood in particularly the kitchen segment and on site furniture making segment. We expect that for branded companies and emerging mid segment, the calibrated plywood demand will remain positive and a growth of 4 to 5% is expected in calibrated ply segment.
The demand sustainability in plywood amidst the introduction of a flurry of alternative products can be perceived owing to improvement in the quality of domestic plywood producers after BIS and credibility of plywood as a robust material to be used in the furniture and durable interior solutions. In future as well, the trust of consumers on domestically plywood and panel products is expected grow further.