What is the Historic and Current Scenario of the Oriented Strand Board Market?
The oriented strand board market has seen considerable growth due to a variety of factors.
•In the past few years, there has been a swift expansion in the market size of oriented strand board (OSB). It is projected to surge from $27.38 billion in 2024, reaching up to $31.51 billion in 2025, with a compound annual growth rate (CAGR) of 15.1%.
Certain driving forces for this growth during the historic period include a surge in housing construction, the cost-effectiveness of OSB, commitment towards environmental sustainability, trends towards renovation and remodeling, urban expansion, and infrastructure development.
What are the Forecasted Growth and Key Factors of the Oriented Strand Board Market?
The oriented strand board market is expected to maintain its strong growth trajectory in upcoming years.
• Over the coming years, the oriented strand board market is projected to experience swift expansion. The forecast anticipates that it will reach a worth of "$53.44 billion in 2029 with a compound annual growth rate (CAGR) of 14.1%.
This growth during the prediction period can be credited to factors such as the increase in global population, improvements in specialized OSB offerings, a robust nature during economic downturns, an emphasis on energy-efficient construction, and novel developments in construction design. The forecast period will also see significant trends such as the digital transformation of the construction sector, advancements in manufacturing technology, the integration of teleophthalmology, a focus on combining different therapies, and the emergence of biosimilars in the field of ophthalmology.
What Main Forces Are Fueling Expansion In The Oriented Strand Board Market?
The upward trend in the building of eco-friendly structures is anticipated to fuel the expansion of the oriented strand board market in the future. Green or sustainable buildings, known for their earth-friendly construction, emphasizes a resource-efficient and environmentally responsible approach to the building's lifecycle, from design and construction to operation and maintenance. Oriented Strand Board (OSB) is heavily utilized in structural sheathing material, insulation panels, and roofing planks used in these green buildings. For example, in November 2022, the U.S. Green Building Council, a non-profit organization based in the U.S., reported a 19% increase in the issuance of green building certifications. About 184 nations worldwide boast structures that have received green building accreditation from various eco-friendly building certification systems, including the likes of the World Green Building Council and Leadership in Energy and Environmental Design. As a consequence, the surge in green building construction has been a significant contributor to the growth of the oriented strand board market.
What Are The Primary Segments In The Global 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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Which Key Trends Are Driving Changes In The Oriented Strand Board Market?
The increasing popularity of product innovation is a major trend in the oriented strand board market. Companies within the sector are creating novel products to maintain their market standing. For example, in February 2022, Medite Smartply, a manufacturer of sustainable timber panels based in the UK, introduced 'The Smartply Sure Step', an oriented strand board/3 panel featuring a robust coating. The Smartply Sure Step is produced with a high-performance, innovative coating that enhances slip resistance and extends durability.
Who Are the Key Players in the Oriented Strand Board Market?
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 Is The Most Dominant Region 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
