AMSO’s participation in MumbaiWood is aimed at increasing awareness of American softwoods in India
American Softwoods (AMSO), the promotional partnership formed by three major US softwood trade associations, has announced its participation at the third edition of MumbaiWood, which is due to run from October 12-14 at the Bombay Convention and Exhibition Center in Mumbai. AMSO’s participation at the fair is part of its ongoing campaign to increase awareness on the key benefits and advantages to be gained from using American softwoods in construction, interior fit-out projects, and in furniture design and manufacturing. Representatives from AMSO as well as members including Coast Clear Wood, West Fraser, CLC Hardwoods and Jazz Forest Products will be on hand to talk about the wide variety and availability of American softwoods.
“Our participation at MumbaiWood allows us direct interaction with construction industry professionals, furniture designers and makers, architects and interior designers. As such, we hope to share information on the wide array of American softwood species and their significant potential for a range of applications,” shared Charles Trevor, consultant to American Softwoods.
“According to WoodStat, total imports of softwood lumber to India reached 252,000 cubic meters for the first six months of last year. Further, amongst India’s main trading partners in North America and Europe, Germany was the dominant market player, with a share equal to almost 70%. Despite total imports of softwood lumber remaining at levels similar to the previous year, the long-term potential for American softwood exports to India is very positive. While India is a traditional tropical hardwood market, log export restrictions in Myanmar, Malaysia and other tropical countries have meant that Indian manufacturers have been forced to look for alternate wood supply sources. As a result, we have seen a transition from imported tropical hardwoods to softwoods, and from logs to lumber,” said Trevor.
A study by World Bank has shown that India’s organised furniture industry is expected to grow at 20% per annum over the next few years and is projected to cross $32 billion by 2019. The online home décor market in India is projected to grow at a compound annual growth rate (CAGR) of 50.42% in revenue from 2014-2019 while the luxury furniture market is expected to garner $27.01 billion by 2020, registering a CAGR of 4.1% during the forecast period 2015-2020.
Foreign domestic investment in Indian real estate, the government’s Housing-for-All by 2022 initiative, and development of 100 smart cities to accommodate India’s growing urban population are some of the growth drivers for the real estate and construction sector. Trevor sees all of these as positive signs for the future of American softwoods in India. “As was the case with China, India is expected to continue to develop over the next decade with the government investing into infrastructure and development in major cities and areas,” said Trevor. Given that domestic production of lumber and logs cannot satisfy the growing demand, this represents a growing opportunity for American softwoods, he added.