After the 3rd quarter of FY 2022-23, the markets and demand have taken a hit. Present times are very competitive in every product category. In the months of January and February, the demand for wood panel products have seen a retardance compared to the demand during last year. The demand is being said to be under pressure after November 2022 itself but with onset of new year plywood and laminate demand have faltered. The reports received from different markets as well as plywood and laminate manufacturing companies reflect an average drop of 8–10 % compared to December.
Although, organised sector observers and emerging brand owners are upbeat with the positive pickup during March month. They hinted that the market will be moving at a fast pace after Holi. The players are expecting to achieve the sales target that at least matches up with the sales in the last quarter. The survey conducted in various markets among contractors, carpenters and retailers hint of significant rise in queries during first week of March mostly from the government sector.
Sales of large houses, premium apartments and no sign of negative sentiment in overall Indian scenario is actually offering hope due to which the demand pick up is expected. According to the retail segment counters, a general perception prevails that if project demand improves, it will have an impact on retail sales also, which will improve.
Despite of all the positive scenario, experts feel that 4th quarter sales are low compared to the last quarter. The last quarter of Fy 22-23 will be tough for the wood panel industries anticipate 76% of the respondents that were contacted by the Ply Reporter during February 21st to March 1st.’ The second fortnight will be much more important for the industry in terms of sales recovery expected most of the trade people.
Although the top retail counters of 23 cities where survey was done, opines that the market will witness good demand from March 15th. The sales drop seen in the months of January and February can be compensated with sales in March as workers will resume work on sites after 10th march. Many companies are planning for new and innovative offerings, a push in sales efforts with schemes and sales targets with rewards, and new product offerings with better presentation.