The latest report by IMARC Group, titled “Oriented Strand Board (OSB) Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global oriented strand board market reached 31.86 Million Cubic Meters in 2021. 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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 42.07 Million Cubic Meters by 2027, exhibiting a CAGR of 4.60% during the forecast period (2022-2027)
- 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.
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