Increasing demand from the construction sector for high strength components is driving the demand for the market.
Oriented Strand Board Market Size – USD 14.84 Billion in 2019, Growth - CAGR of 14.1%, Trends – High demand in the packaging sector.
The Global Oriented Strand Board Market is projected to reach USD 42.89 billion in 2027. The rising commodity penetration in residential and company construction is anticipated to gain industry development as a result of superior aesthetics. Due to the cyclical nature of residential construction, the industry has seen extreme fluctuations in supply and demand. Stock prices are highly influenced by the manufacturers in the OSB industry because the raw materials account for a significant proportion of the overall manufacturing cost of directed panels.
Green building materials are expected to have a positive impact on product demand with an increased preference in the construction industry because of its low emission rates. The oriented strand board is exempt from formaldehyde regulation. Furthermore, less wood waste would be one of the main driving factors for the sector over the projected timeframe in OSB manufacturing.
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Top Companies: Norbond Inc., Kronospan Ltd, Louisiana-Pacific Corporation, Weyerhaeuser Company, Georgia-Pacific, Huber Engineered Woods LLC, Sonae Arauco, Arbec Forest Products Inc., Ainsworth Lumber Co. Ltd., and Swiss Krono Group, among others.
Further Key Finding from the Report Suggestion:
- Owing to extensive product use in roofing, floor sheathing, and other construction applications led the globally-oriented strand board market.
- Terahertz technology is expected to aid in the manufacture of advanced-grade products in terms of moisture and wood density calculation.
- Increased imports and exports worldwide are expected to create massive packaging demand.
- North America was the biggest regional market, and its dominance over the projected years is expected to continue because of increased residential construction.
Market Overview:
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The global Oriented Strand Board Market is segmented into:
Grade Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- OSB/1
- OSB/2
- OSB/3
- OSB/4
Distribution Channel Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Online
- Offline
Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Construction
- Furniture
- Packaging
- Others
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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