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Oriented Strand Board Global Market Estimated to Surge at a CAGR of 13.7% to Reach $46.09 Billion By 2028 | Kronospan Ltd., Norbord Inc., Tolko Industries Ltd., Stora Enso Oyj, Metsä Group
Oriented Strand Board Global Market
The oriented strand board market size is expected to see rapid growth in the next few years. It will grow to $46.09 billion in 2028 at a compound annual growth rate (CAGR) of 13.7%. The growth in the forecast period can be attributed to global population growth, advancements in specialty osb products, resilience to economic fluctuations, focus on energy-efficient construction, innovation in construction design. Major trends in the forecast period include digital transformation in construction, technological advancements in manufacturing, teleophthalmology integration, focus on combination therapies, biosimilars in ophthalmology.
Market Overview -
Oriented strand board (OSB) is an engineered wood panel made from small strands or flakes of wood that are arranged in layers and bonded together with resin or adhesive under high pressure and heat.
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Green Building Boom Boosts Oriented Strand Board Market
The rise in the construction of green buildings is expected to propel the growth of the oriented strand board market going forward. Green building, also known as sustainable building or environmentally friendly building, refers to the practice of designing, constructing, operating, and maintaining buildings in an environmentally responsible and resource-efficient manner. The oriented strand board (OSB) is used in structural sheathing material, insulated panels, and roof planking for green buildings. For instance, in November 2022, according to the U.S. Green Building Council, a US-based non-profit organization, there was an increase of 19% in the number of green building certifications. Approximately 184 countries around the globe have buildings that have green building certification provided by various green building certification systems, such as the World Green Building Council and Leadership in Energy and Environmental Design. Therefore, the rise in the construction of green buildings is driving the growth of the oriented strand board market.
Competitive Landscape -
Major companies operating in the oriented strand board market report are EGGER Holzwerkstoffe Brilon GmbH & Co. KG., Kronospan Ltd., Louisiana Pacific Corporation, West Fraser Timber Co. Ltd., Swiss Krono Group, Sonae Industria SGPS SA, Norbord Inc., Tolko Industries Ltd., Weyerhaeuser Company, Ainsworth Lumber Co. Ltd., Arbec Forest Products Inc., Roy O. Martin Lumber Company LLC, Suncrest Plydecor, Hutchison Incorporated., LP Building Solutions, Huber Engineered Woods LLC, Georgia-Pacific Wood Products LLC, PotlatchDeltic Corporation, Pinnacle Renewable Energy Inc., Stora Enso Oyj, Metsä Group, Schweitzer-Mauduit International Inc., Armstrong World Industries Inc., Dongwha Enterprise Co. Ltd., Hexion Inc., Nippon Paper Industries Co. Ltd., Ormet S.p.A., Pfleiderer Group, Resolute Forest Products Inc., Stimson Lumber Company
Innovative Products Drive Oriented Strand Board Market
Product innovation is the key trend gaining popularity in the oriented strand board market. Companies operating in the oriented strand board market are innovating new products to sustain their position in the market. For instance, in February 2022, Medite Smartply, a UK-based manufacturer of sustainable timber panels, launched 'The Smartply Sure Step', an oriented strand board/3 panel with a durable coating. The Smartply Sure Step is manufactured with high-performance and innovative coating that enables slip resistance and improved durability.
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Key Segments -
The oriented strand board market covered in this report is segmented -
1) By Grade: Oriented Strand Board/1, Oriented Strand Board/2, Oriented Strand Board/3, Oriented Strand Board/4
2) By Application: Construction, Furniture, Flooring, Packaging, Other Applications
3) By Distribution Channel: Online, Offline
4) By End User: Residential, Non-Residential
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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