Decorative veneer segment maintained its charm in 2019 with increased offerings of innovative and exotic ranges. Although veneer display centers through showrooms and retailers' dominance increased but their margins were reported to shrink, and the demand for high priced veneer decreased. A veneer is a natural product and its users are niche, they don’t use other substitute but due to competition, the natural veneers of beyond Rs.150 price have become difficult to sell. Half a dozen new brands in decorative veneers were seen to adopt aggressive offerings this year such as Greenply, GreenPanel, Metro Decorative, etc.
The craze of Dyed veneer, Smoked veneer, Teak veneer attracted designers in 2019. Premium Homes and Apartments are the key buyers of Dyed natural veneer, who were earlier opting for metallic. In the past, the charm of metallic veneer was prominent for a year whereas Dyed Veneer demand was limited to big bungalows only. Now with the rise in offerings, range and little eased up affordability in dyed range, it is gaining acceptance in upper-middle segments and mid-segments too. The new colors and tones with a feel of natural wood are being experimented nowadays by the interior designers. Retail counters believe ‘variety with larger group numbers helped them to offer better services, which is why they are finding Dyed Veneer range more relevant.’
Interior Designers and Architects are fond of the new innovative colors with natural wood hence more counters want to sell dyed veneer leading to rise in demand. According to estimates, vaguely discussed with veneer supplier of the country, the Dyed natural market has crossed an average of 60,000 sheets a month which was not even 5000 sheets a year ago. Many Indian veneer producers import Dyed range from Europe and China, whereas 2-3 Indian producers have also in-house technology of Veneer Dying.
It is noted that Decorative veneer demand has been consistently growing year on year, although the market is flooding with a variety of surface materials. A growing number of showrooms and retail dominance also have been driving the veneer demand in India.