Press release
Oriented Strand Board Market Players Seeking Heavy Attention to Reach $44.3 Billion by 2030
Oriented Strand Board Market
Halt in logistics services has led to halt in the packaging industry, which, in turn, hinders growth of the oriented strand board industry. However, oriented strand board market trends are gradually back on track and vaccine discovery is expected to lead to recovery of the oriented strand board industry. Further, urbanization of major cities in Asia-Pacific and LAMEA is expected to lead to rise in construction activities and increase in demand for oriented products in the market.
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Driving Demands:
The global oriented strand board market size was valued at $25.6 billion in 2020, and is estimated to reach $44.3 billion by 2030, growing at a CAGR of 5.4% from 2021 to 2030. The oriented strand board market forecast from 2020 to 2030.
In addition, oriented strand board is used for flooring, parting walls, and roofs to provide luxurious interior for transport systems. For instance, it was announced in November 2020 that Toyota Camry Hybrid will be upgraded with design and safety features. This upgraded version covers titanium line and black wood-based panel used to installed in the cars.
In addition, oriented strand board is also used to manufacture decorative items and artworks as it is available in various thickness and colors, which is easy to work on. Such applications and strategies by end users of oriented strand board are anticipated to boost the oriented strand board growth during the forecast period.
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Increase in non-residential construction activities and repair drives growth of the oriented strand board industry. Furthermore, the industry is expected to witness significant growth in India and China, owing to huge urban population growth.
Moreover, rise in construction of new official buildings, non-residential complexes, and industrial spaces is expected to boost growth of the oriented strand board market.
Top Players are Running the Market:
Leading players of the global oriented strand board market analyzed in the research include Coillte, Koch Industries, Egger Hozwerkstoffe GmbH, Louisiana Pacific Corporation, Kronospan Ltd., Swiss Krono Group, West Fraser, Tolko Industries, Sonae Industria, and Weyerhaeuser.
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