Shuttering plywood prices have been consistently increasing due to rising production costs, the reason being the high prices of timber in the northern region, where most of the shuttering plywood manufacturing plants are situated. The cost of the primary raw materials, such as wood and glue, used in shuttering plywood manufacturing has been on the rise in the recent past, and there is good demand reported from the construction sector. All these factors have pushed up the prices in the last two years.
The positive sign is that the rising price is being accepted by the market, which is pushing up the sector. The report indicates that the real estate and construction sectors growth has helped the sector with rising demand for shuttering plywood, as the increased prices have been accepted by the trade every time.
The sources reveal that DLF has sold 1100 flats, and Raheja Group has also sold a significant number of flats in different cities especially in Hyderabad the number of flats sold are more. A similar reply has been received from other leading players in this sector. All of this contributes to the shuttering plywood market's expansion. In the last three months, the prices of shuttering plywood have increased to approx Rs 4 to 5 per square foot consecutive phases, and to nearly 25% rise of the price range in the last two years.
In total, after several rises, the shuttering plywood price has reached to approx Rs 50/sqft of 30 kg basis, which was nearly at Rs 40/sqft two years ago. The experts say that the price of shuttering plywood may increase 10 % in the near future.