According to Ply Reporter's forecast for 2023, the market will grow significantly with decreasing margins in various supplies of building material products. The focus of distributors and traders will be more on retail and serving consumers on aesthetic front. With sharp rise in premium villas, condominiums and luxury apartments during past two years, the preference for natural interior products and surfaces will rise in 2023. The purchasing impact for these large apartments and villas will be felt significantly in 2023 as their spending on building materials will increase further, helping the premium product demand to pick up speed.
The ply reporter believes, in 23, there will be beginning of slowing of plastic-based products and entry of more natural products in the interior applications. The demand for decorative wood veneers and premium decorative surfaces in Acrylic will increase significantly. The importance and role of Retail showrooms will gain speed in this year. The importance of retail showrooms and need of knowledge-based selling will be desired more 23 onwards. The training and knowledge among retail showroom sales personals and employees will be critical for the growth of any product category.
Decorative Veneers, Acrylic sheets, Tinted glass, decorative metal sheets and natural stone decorative surfaces demand will pick up further. The health friendly substrate and decorative articles and other premium decorative items, will see a significant increase with knowledgably strong counters. This year, many more companies will be seen launching innovative decorative surfaces.
So far, the market for charcoal, PVC, etc has been very good for four years, 23 will be a turning curve. The ply reporter foresee that in 2023 the demand for decorative veneer, wooden louvers, metal infused rafters, inlays and engineered wood products will grow. Natural teak demand will grow further, and reconstituted and dyed veneer will also catch up significantly. The Ply Reporter believes that the veneer market will be very good in 2023, and the role of retail counters will play a vital role in its growth.