Oriented Strand Board (OSB) Market To Witness Enhanced Usage In Residential & Commercial Construction, Furniture and Packaging Indutry Till 2022 | Million Insights

Industry Insights

Global Oriented Strand Board (OSB) Market size was estimated over USD 8.0 million in 2014. The growing substitution of plywood by OSB in applications such as residential construction and commercial sector is expected to have a positive impact on market demand. The high strength to weight ratio and easy installation advantages provided by oriented strand board are driving market growth of these products.

This product is consumed for both non-structural and structural applications such as shelving, pallet manufacture, frames, furniture, industrial tabletops, dry storage pallets, packaging and crafting. Technological advancements in countries such as Brazil, Russia, China, and India for the development of new products is anticipated to create new growth avenues over the forecast period.

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Increasing consumption of office furniture and home furniture is likely to propel demand over the forecast period. The product finds application in various industries for packaging as it exhibits properties such as durability, core-voids, rigidity, moisture resistance grade, lightness, and lack of knot holes.

Fluctuating raw material prices can act as a restraint to the market demand. The adhesives used in the manufacturing of OSB are obtained from the petroleum industry. The price fluctuations in the petroleum industry are expected to impact negatively on the manufacturing activity.

Application Insights

In 2014, construction segment accounted over USD 4.0 million. Increasing consumption of structural insulated panels, industrial containers, single-layer flooring, subflooring, webs for wood I-joists, wall and roof sheathing, mezzanine deck, and sheathing ceiling is expected to drive product demand over the forecast period.

In terms of revenue, packaging is projected to grow at a CAGR of 29.0% over the forecast period. The high level of strength exhibited by these products coupled with low prices is boosting demand in this application segment. Growing packaging industry in countries such as UK, Hong Kong, India, Canada, Thailand, Taiwan, U.S., Singapore, China, and Australia is likely to fuel the market growth over the forecast period.

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Regional Insights

In terms of volume, North America was the largest global market and accounted for over 55.0% in market share owing to raw material availability and strong environmental regulations. The growing export from Canada is expected to drive market growth over the forecast period.

Asia Pacific witnessed rapid growth in construction and packaged foods industry. The rising disposable income coupled with urbanization in emerging economies is expected to have a positive impact on market demand for oriented strand board.

Competitive Insights

The key players in the oriented strand board market are Huber, Norbord, Louisiana-Pacific, ARBEC, Georgia-Pacific, Weyerhaeuser, RoyOMartin and Ainsworth Lumber Co. Home featuring material such as LP TechShield Radiant Barrier Sheathing developed by Louisiana-Pacific was favored by The U.S. Green Building Council (USGBC).

In 2013, Georgia-Pacific opened new plant in Clarendon for the manufacturing of different OSB products such as Thermostat OSB Radiant Barrier Sheathing. Norbord acquired Ainsworth Lumber Co. in June 2015 owing to extensive mill network of the company.

Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/chemicals-and-materials

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