Oriented Strand Board Market Size
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 37.90 Million cubic meters |
| Market Volume (2029) | 48.61 Million cubic meters |
| CAGR (2024 - 2029) | > 5.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Oriented Strand Board Market Analysis
The Oriented Strand Board Market size is estimated at 37.90 Million cubic meters in 2024, and is expected to reach 48.61 Million cubic meters by 2029, growing at a CAGR of greater than 5% during the forecast period (2024-2029).
COVID-19 negatively impacted the market. The pandemic caused disruptions in construction activity, particularly during the initial phases of lockdowns. Many construction projects were postponed or canceled, leading to decreased demand for OSB in the construction sector. As lockdown restrictions eased and vaccination efforts progressed, construction activity began to rebound, leading to increased demand for OSB products in the construction sector.
- Factors such as the growing importance of OSB as a substitute for plywood and the growth of the construction sector are expected to drive the oriented board market.
- On the other hand, emissions of volatile organic compounds (VOCs) like formaldehyde are likely to slow the growth of the market.
- Increasing applications of OSB in structural insulated panels and the recovering European construction industry are likely to act as opportunities in the future.
- North America dominated the market across the world, with the most significant consumption coming from the United States.
Oriented Strand Board Market Trends
The Construction Segment to Dominate the Market
- Oriented strand boards are widely used in the construction sector for applications such as flooring, walls, roof sheathing, and subflooring. Their versatility makes them suitable for various residential, commercial, and industrial construction projects.
- Oriented strand boards offer excellent structural strength and dimensional stability, making them suitable for load-bearing applications. OSBs can withstand the rigors of construction and provide long-lasting performance in various environmental conditions.
- According to data from the European Commission, construction production grew by 1.9% in December 2023 compared to December 2022 across the euro area and 2.4% across the European Union. The year-on-year average increase in construction production in 2023 compared to 2022 was 0.2% for the euro area and 0.1% for the European Union.
- According to Eurostat, the annual average production of buildings in the euro area and the European Union increased by 0.2% and 0.1%, respectively, in 2023 compared to 2022.
- According to the National Bureau of Statistics (NBS), in China, the construction industry’s business activity index (BASI) rose to 56.9 as of December 2023 from 55.9 in November 2023. A BASI score above 50 indicates growth in the industry, and the October 2023 BASI score was 53.5.
- India’s construction industry is projected to grow to USD 1.4 trillion by 2025. By 2030, an estimated 600 million people will live in urban centers, resulting in a need for 25 million additional mid- and ultra-luxury units. Under the National Investment Plan (NIP), India has an infrastructure investment budget of USD 1.4 trillion, with 24% of the budget earmarked for renewable energy, roads and highways, and urban infrastructure and 12% for railways.
- According to the latest estimate released by the Ministry of Land, Infrastructure, Transport and Tourism in January 2024, in 2023, construction works for around 366.8 thousand detached houses and 379.71 apartments were launched in Japan.
- Thus, in the upcoming years, the oriented strand boards market is expected to be driven by the growing construction market in all regions.
North America to Dominate the Market
- North America has a robust construction industry, with a high demand for building materials like oriented strand boards in residential, commercial, and industrial construction projects. The region's large population and urbanization trends drive continuous construction activity, contributing to the dominance of the oriented board market.
- North American construction practices often favor wood-based building materials due to their availability, cost-effectiveness, and ease of installation. OSB, being an engineered wood product, fits well with this preference, leading to its widespread use across various construction applications.
- The United States has a massive construction industry, which plays an important role in the establishment of businesses, industries, institutions, homes, infrastructure, energy, and public utilities. The country's annual construction expenditure from January to December 2022 was estimated at USD 1,677.2 billion. In addition, construction spending in the United States increased by 1.3% in February, compared to a seasonally adjusted annual rate of USD 1.677 trillion in January 2022.
- According to the estimate released by the US Census Bureau, the total value of building and construction activities in the United States increased by more than USD 131 billion in 2023.
- Furthermore, according to the estimate released by the US Census Bureau, the number of new privately owned residential houses in the United States was approximately 1.4 million units in January 2024.
- All the factors mentioned above are expected to boost the growth of the market studied in North America.
Oriented Strand Board Industry Overview
The oriented strand board (OSB) market is consolidated in nature, with the top five players accounting for a significant portion of the global market. The major players in the market include Norbord Inc. (West Fraser), Louisiana-Pacific Corporation, Kronospan Limited, Georgia-Pacific Wood Products LLC, and Weyerhaeuser Company.
Oriented Strand Board Market Leaders
-
Louisiana-Pacific Corporation
-
Weyerhaeuser Company
-
Georgia-Pacific Wood Products LLC
-
Kronospan Limited
-
Norbord Inc. (West Fraser)
*Disclaimer: Major Players sorted in no particular order
Oriented Strand Board Market News
- June 2023: Huber Engineered Woods LLC planned to build a new production facility for the oriented strand board market in Noxubee County, Mississippi. This production plant is expected to increase the company’s production of innovative ZIP systems and AdvanTech structural panels.
- May 2023: Huber acquired certain assets of Compass Land Consultants Inc. This acquisition is expected to expand the company's Sewall Forestry and Natural Resources Consulting (“SFNR”) business globally.
Oriented Strand Board (OSB) Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Report
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Prominence of OSB as a Substitute to Plywood
4.1.2 Growth in the Construction Industry
4.2 Restraints
4.2.1 Emissions of Volatile Organic Compounds (VOCs), such as Formaldehyde
4.2.2 Other Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products and Services
4.3.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size by Volume)
5.1 By Grade
5.1.1 OSB/1
5.1.2 OSB/2
5.1.3 OSB/3
5.1.4 OSB/4
5.2 End-user Application
5.2.1 Furniture
5.2.1.1 Residential
5.2.1.2 Commercial
5.2.2 Construction
5.2.2.1 Floor and Roof
5.2.2.2 Wall
5.2.2.3 Door
5.2.2.4 Column and Beam
5.2.2.5 Staircase
5.2.2.6 Other Constructions (Partitions)
5.2.3 Packaging
5.2.3.1 Food and Beverage
5.2.3.2 Industrial
5.2.3.3 Pharmaceutical
5.2.3.4 Cosmetics
5.2.3.5 Other Packaging (Reusable Packaging)
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Thailand
5.3.1.6 Indonesia
5.3.1.7 Malaysia
5.3.1.8 Vietnam
5.3.1.9 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.2.4 Rest of North America
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 Italy
5.3.3.4 France
5.3.3.5 Spain
5.3.3.6 Turkey
5.3.3.7 Russia
5.3.3.8 NORDIC
5.3.3.9 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Colombia
5.3.4.4 Rest of South America
5.3.5 Middle East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Nigeria
5.3.5.4 Egypt
5.3.5.5 Qatar
5.3.5.6 UAE
5.3.5.7 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%) Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Arbec Forestry Products Inc.
6.4.2 Coillte
6.4.3 EGGER
6.4.4 Georgia-Pacific Wood Products LLC
6.4.5 Huber Engineered Woods LLC
6.4.6 Kronospan Limited
6.4.7 Louisiana-Pacific Corporation
6.4.8 Norbord Inc. (West Fraser)
6.4.9 RoyOMartin
6.4.10 Sonae Arauco
6.4.11 SWISS KRONO Group
6.4.12 Tolko Industries Ltd
6.4.13 Weyerhaeuser Company
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Application of OSB in Structural Insulated Panels (SIPS)
Oriented Strand Board Industry Segmentation
Oriented strand board (OSB) is a type of engineered wood product made by compressing and binding strands of wood fibers using adhesives under heat and pressure. These strands are typically arranged in layers with alternating orientations to enhance the structural integrity and dimensional stability of the board.
The oriented strand board (OSB) market is segmented by grade, end-user application, and geography. By grade, the market is segmented into OSB-1, OSB-2, OSB-3, and OSB-4. By end-user application, the market is segmented into furniture, construction, and packaging. The report also covers the market sizes and forecasts for the oriented strand board (OSB) market in 27 countries across major regions. For each segment, the market sizes and forecasts are provided in terms of volume (cubic meters).
| By Grade | |
| OSB/1 | |
| OSB/2 | |
| OSB/3 | |
| OSB/4 |
| End-user Application | ||||||||
| ||||||||
| ||||||||
|
| Geography | |||||||||||
| |||||||||||
| |||||||||||
| |||||||||||
| |||||||||||
|
Oriented Strand Board (OSB) Market Research FAQs
How big is the Oriented Strand Board Market?
The Oriented Strand Board Market size is expected to reach 37.90 million cubic meters in 2024 and grow at a CAGR of greater than 5% to reach 48.61 million cubic meters by 2029.
What is the current Oriented Strand Board Market size?
In 2024, the Oriented Strand Board Market size is expected to reach 37.90 million cubic meters.
Who are the key players in Oriented Strand Board Market?
Louisiana-Pacific Corporation, Weyerhaeuser Company, Georgia-Pacific Wood Products LLC, Kronospan Limited and Norbord Inc. (West Fraser) are the major companies operating in the Oriented Strand Board Market.
Which is the fastest growing region in Oriented Strand Board Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Oriented Strand Board Market?
In 2024, the North America accounts for the largest market share in Oriented Strand Board Market.
What years does this Oriented Strand Board Market cover, and what was the market size in 2023?
In 2023, the Oriented Strand Board Market size was estimated at 36.01 million cubic meters. The report covers the Oriented Strand Board Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Oriented Strand Board Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Oriented Strand Board Industry Report
The Oriented Strand Board (OSB) market analysis provides an insightful industry overview, focusing on market segmentation by grade and end-user applications. The market report highlights the market growth and industry trends across various geographies, including Asia-Pacific, North America, Europe, South America, and the Middle-East and Africa. The market forecast indicates a positive growth rate for the OSB market, driven by demand in construction, furniture, and packaging sectors.
Industry reports suggest that the market value and market size are expected to increase, supported by robust market data and market predictions. The industry statistics reveal significant contributions from market leaders who are shaping the market outlook with innovative solutions. The report example includes detailed industry research and industry sales figures, providing a comprehensive market review.
The industry information presented in the report emphasizes the importance of market analysis and industry analysis in understanding the current market trends and future industry outlook. The report pdf available for download offers an in-depth market forecast, showcasing the potential for market growth and the strategic moves by research companies in the OSB market.
Overall, the industry overview and market segmentation provide valuable insights into the market value and market leaders, helping stakeholders make informed decisions. The report summary encapsulates the essence of the industry trends and market data, making it a crucial resource for understanding the OSB market dynamics.
