Press release
Oriented Strand Board Market Poised to Hit $52.33 Billion by 2029 with Accelerating Growth Trends
Oriented Strand Board Market
Oriented Strand Board Market Size Growth Forecast: What to Expect by 2025?
The oriented strand board market has risen rapidly in recent years. It will expand from $27.38 billion in 2024 to $31.15 billion in 2025 at a CAGR of 13.8%. The historic growth was influenced by housing construction booms, cost efficiency, sustainability focus, renovation activities, urbanization, and infrastructure projects.
How Will the Oriented Strand Board Market Size Evolve and Grow by 2029?
In the coming years, the oriented strand board market is predicted to experience rapid expansion, with a potential increase to $52.33 billion in 2029, and a compound annual growth rate (CAGR) of 13.8%. This growth over the forecast period is due to several factors such as global population increase, advancements in specialty OSB products, resilience during economic downturns, a concentration on energy-efficient building, and innovations in construction design. Key trends for the forecast period are expected to be a digital shift in construction, progress in manufacturing technology, incorporation of teleophthalmology, a spotlight on combination therapies, and the introduction of biosimilars in ophthalmology.
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What Drivers Are Propelling the Growth of Oriented Strand Board Market Forward?
The projected increase in the creation of green buildings is envisaged to fuel the expansion of the oriented strand board market. The concept of green building, which is also known as sustainable or eco-friendly construction, involves the process of building, operating, and maintaining structures in a way that is both environmentally considerate and resource efficient. The oriented strand board (OSB) plays a crucial role in these buildings, being utilized in structural sheathing material, insulating panels, and roof planks. To illustrate, the U.S. Green Building Council, an American nonprofit organization, reported a 19% surge in green building certifications in November 2022. It's reported that about 184 nations worldwide host constructions that have been certified as green by various certification systems such as the World Green Building Council and Leadership in Energy and Environmental Design. As a consequence, the oriented strand board market is experiencing growth driven by the increase in green buildings.
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Which Emerging Trends Are Transforming the Oriented Strand Board Market in 2025?
The emergence of product innovation is a significant trend in the oriented strand board market. To maintain their market position, companies involved in the oriented strand board market are introducing novel products. For example, in February 2022, Medite Smartply, a UK manufacturer specializing in sustainable timber panels, unveiled 'The Smartply Sure Step', which is an oriented strand board/3 panel possessing a long-lasting coating. This product, The Smartply Sure Step, incorporates an innovative, high-efficiency coating that provides enhanced durability and prevents slipping.
What Are the Key Segments in the Oriented Strand Board Market?
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
Subsegments:
1) By Oriented Strand Board Or 1 (OSB Or 1): Interior Dry Use, General Purpose
2) By Oriented Strand Board Or 2 (OSB Or 2): Load-Bearing Applications, Structural Use
3) By Oriented Strand Board Or 3 (OSB Or 3): Moisture-Resistant Applications, Load-Bearing In Humid Conditions
4) By Oriented Strand Board Or 4 (OSB Or 4): Heavy Load-Bearing Applications, External Applications In Severe Conditions
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Who Are the Key Players Shaping the Oriented Strand Board Market's Competitive Landscape?
Major companies operating in the oriented strand board market include 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, Stora Enso Oyj, Metsä Group, Dongwha Enterprise Co. Ltd., Hexion Inc., Nippon Paper Industries Co. Ltd., Ormet S.p.A., Pfleiderer Group, Resolute Forest Products Inc., Stimson Lumber Company
What Geographic Markets Are Powering Growth in the Oriented Strand Board Market?
North America was the largest region in the oriented strand board market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global oriented strand board market report during the forecast period. The regions covered in the oriented strand board market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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