Global Oriented Strand Board (OSB) Market to Reach 48.9 Million Cubic Meters by 2032, Augmented by the Growing Demand for Green Building Materials

July 25, 2022 | Chemical & Materials

The latest report by IMARC Group, titled “Oriented Strand Board (OSB) Market Report by Grade (OSB/1, OSB/2, OSB/3, OSB/4), Application (Construction, Furniture, Flooring, Packaging, and Others), End User (Residential, Non-residential), and Region 2024-2032,” finds that the global oriented strand board market size reached 35.0 Million Cubic Meters in 2023. Oriented strand board (OSB) is a versatile engineered wood panel manufactured using waterproof adhesives and rectangularly shaped wood strands that are arranged in cross-oriented layers. It is eco-friendly as OSB is made from crooked, knotty, and deformed trees. It has high shear strength, improved moisture resistance, versatility, cost-effectiveness, and good dimensional stability. It is consistent across the slides without having any holes and knots compared to plywood. As a result, it is widely used in modular kitchens, bookshelves, floors, walls, doors, tables and benches, boats, and wardrobes.

Global Oriented Strand Board Market Trends:

The growing demand for eco-friendly and sustainable products among the masses due to the increasing environmental concerns represent one of the key factors driving the market. Besides this, a rise in the construction of green buildings, along with the escalating demand for OSB as an alternative to traditional steel and concrete building materials, is propelling the growth of the market. In addition, there is an increase in the utilization of advanced technologies to manufacture OSB, which makes it strong, stiff, durable, lighter, and cheaper. This, coupled with the expanding construction industry, is contributing to the growth of the market. Moreover, key market players are extensively investing in research and development (R&D) activities to introduce enhanced wall and roof sheathing for tight building envelopes, which is positively influencing the market. Apart from this, OSB panels resist racking and shape distortion when exposed to demanding wind and seismic conditions, which is bolstering the growth of the market. Looking forward, IMARC Group expects the market to reach 48.9 Million Cubic Meters by 2032, exhibiting a CAGR of 3.7% during the forecast period (2024-2032)

Market Summary:

Based on the grade, the market has been classified into OSB/1, OSB/2, OSB/3, and OSB/4. At present, OSB/3 holds the largest share in the market.
On the basis of the application, the market has been segregated into construction, furniture, flooring, packaging, and others. Amongst these, the construction sector dominates the market.
Based on end user, the market has been segmented into residential and non-residential.
Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. Currently, North America exhibits a clear dominance in the market.
The competitive landscape of the market has been studied in the report, with some of the key players being Arbec Forest Products Inc., Coillte, EGGER Group, Huber Engineered Woods LLC (J.M. Huber Corporation), Koch Industries Inc., Kronospan, Louisiana-Pacific Corporation, RoyOMartin, SWISS KRONO Group, Tolko Industries Ltd., West Fraser Timber Co. Ltd., and Weyerhaeuser Company.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion, Million Cubic Meters
Segment Coverage	Grade, Application, End User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Arbec Forest Products Inc., Coillte, EGGER Group, Huber Engineered Woods LLC (J.M. Huber Corporation), Koch Industries Inc., Kronospan, Louisiana-Pacific Corporation, RoyOMartin, SWISS KRONO Group, Tolko Industries Ltd., West Fraser Timber Co. Ltd. and Weyerhaeuser Company.
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Global Oriented Strand Board (OSB) Market to Reach 48.9 Million Cubic Meters by 2032, Augmented by the Growing Demand for Green Building Materials

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