Global Oriented Strand Board Market Research Report 2023 | Valuates Reports

Oriented Strand Board Market

The global oriented strand board market size was valued at $25.6 billion in 2020, and is projected to reach $44.3 billion by 2030, growing at a CAGR of 5.4% from 2021 to 2030.

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Oriented strand board is a widely used, versatile engineered wood board made from waterproof, heat curing adhesives, and rectangular shaped strands of wood arranged in cross-oriented layers. It is a type of engineered wood. OSB is manufactured in various grades with improving resistance to the effects of moisture. The combination of wood and adhesives in OSBs creates a strong, dimensionally stable panel that resists deflection, delamination, and distorting. Moreover, these panels resist racking and shape distortion when subjected to demanding wind and seismic conditions.

Increase in demand for eco-friendly and sustainable products in developed countries such as the U.S., France, and Germany boost oriented strand board market growth. Green building materials are expected to have a positive on product demand as they are preferred in the construction industry, due to their low emission rates. For instance, in North America, the U.S. Green Building Councils ensures that buildings in the country are sustainable and utilize green materials for construction purposes through Leadership in Energy and Environmental Design (LEED) , which is the leading program for green buildings.

Oriented strand board is used as an alternative for steel and concrete building material. The latest technology used to manufacture oriented strand board has made it strong, stiff, and durable in strength as well as lighter in weight and cheaper in cost. It also enhances the looks of the buildings when properly designed and installed. Moreover, there has been a rise in construction of green buildings, which are constructed and operated with minimum carbon emission. These advantages of oriented strand board have made it very popular among the builders and architects as an alternative for traditional steel and concrete building material, drive the growth of the oriented strand board market.

Further, increase in construction of green buildings is the major factor that boosts the growth of the oriented strand board market in the U.S. and Canada. Over 60% of the new building construction is expected to be of green buildings by 2025 in the U.S. and Canada. Moreover, the construction market in Mexico is rapidly adopting the green building trend as well. Owing to this, oriented strand board products has witnessed a growth of over 25% in the last five years.

Major players such as Collite, Egger Hozwerkstoffe GmbH, Koch Industries and West Fraser and others are adopting the product launch & acquisition to improve their product portfolio to maintain competition in the market. For instance, October 2020, Louisiana Pacific Corporation announced a new brand named, LP WeatherLogic Air & Water Barrier, an APA Structural I Rated wall and roof sheathing. Helpful for framing and sheathing solutions and achieve a tight building envelope. Such instances are expected to provide lucrative opportunities for the major players for the growth of the market.

The global oriented strand board market is segmented into grade, application, and end users. Based on grade, the market is categorized into OSB/1, OSB/2, OSB/3 and OSB/4. Currently, the OSB/3 segment dominates the global oriented strand board market share.

On the basis of application, the market is categorized into construction, flooring, packaging and others. Construction segment dominates the market in 2020, and flooring segment is anticipated to grow with a significant CAGR of 5.7% during the oriented strand board market forecast.

On the basis of end-user, the market is categorized into residential and non-residential. Residential segment dominates the market in 2020, and is projected to grow with a highest CAGR of 5.7% during the forecast period.

On the basis of region, the oriented strand board industry is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America region dominate the market, and followed by Europe. Asia-Pacific is predicted to grow faster than LAMEA with a CAGR of 4.8% during the forecast period.

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Key Companies:

sonae industria, Weyerhaeuser Company, swiss krono group, Louisiana Pacific Corporation, Egger Holzwerkstoffe GmbH, tolko industries, Koch Industries (Georgia Pacific), Kronospan Ltd, West Fraser, coillte

By Application

• Construction
• Furniture
• Flooring
• Packaging

By Grade

• OSB/1
• OSB/2
• OSB/3
• OSB/4

By End User

• Residential
• Non-residential

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