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Oriented Strand Board (OSB) Market Size (2024 - 2029)

The oriented strand board market is anticipated to experience growth over the forecast period, driven by the recovery of the construction industry and the increasing popularity of OSB as an alternative to plywood. The market size is influenced by the demand from the healthcare sector during the pandemic and the expanding applications of OSB in structural insulated panels. Despite challenges such as VOC emissions potentially hindering growth, opportunities in the recovering European construction sector and the dominant North American market, particularly in the United States, are expected to support the market's expansion.

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Market Size of Oriented Strand Board (OSB) Industry

Oriented Strand Board OSB Market - Market Summary
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

Oriented Strand Board (OSB) Market 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 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
Furniture
Residential
Commercial
Construction
Floor and Roof
Wall
Door
Column and Beam
Staircase
Other Constructions (Partitions)
Packaging
Food and Beverage
Industrial
Pharmaceutical
Cosmetics
Other Packaging (Reusable Packaging)
Geography
Asia-Pacific
China
India
Japan
South Korea
Thailand
Indonesia
Malaysia
Vietnam
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
Italy
France
Spain
Turkey
Russia
NORDIC
Rest of Europe
South America
Brazil
Argentina
Colombia
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Nigeria
Egypt
Qatar
UAE
Rest of Middle East and Africa
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Oriented Strand Board (OSB) Market Size Summary

The oriented strand board (OSB) market is anticipated to experience steady growth over the forecast period, driven by its increasing adoption as a cost-effective alternative to plywood in construction applications. The market faced challenges during the COVID-19 pandemic, which temporarily halted construction activities and reduced OSB consumption. However, the resurgence of the construction industry, particularly in the healthcare sector, has begun to stimulate demand for OSB. The material's properties, such as high structural durability and uniformity, make it a preferred choice for various construction projects, including structural insulated panels. Despite potential challenges from volatile organic compound emissions, the market is poised for growth, with North America leading in consumption, particularly in the United States.

Globally, the OSB market is supported by robust construction activities in emerging economies, especially in the Asia-Pacific region, where urbanization and middle-class expansion drive demand for housing and infrastructure. In China, ongoing urbanization efforts and government initiatives to enhance the construction sector's sustainability are expected to bolster OSB demand. Similarly, India's construction industry is recovering, with increased investments contributing to market growth. In North America, the OSB market benefits from strong construction spending, with new home construction being a significant end-use. The market is consolidated, with major players like West Fraser and Louisiana-Pacific Corporation dominating. Strategic investments and acquisitions by these companies are further expanding production capacities and strengthening their market positions.

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Oriented Strand Board (OSB) Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Prominence of OSB as a Substitute to Plywood

      2. 1.1.2 Growth in the Construction Industry

    2. 1.2 Restraints

      1. 1.2.1 Emissions of Volatile Organic Compounds (VOCs), such as Formaldehyde

      2. 1.2.2 Other Restraints

    3. 1.3 Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Consumers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Threat of Substitute Products and Services

      5. 1.3.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size by Volume)

    1. 2.1 By Grade

      1. 2.1.1 OSB/1

      2. 2.1.2 OSB/2

      3. 2.1.3 OSB/3

      4. 2.1.4 OSB/4

    2. 2.2 End-user Application

      1. 2.2.1 Furniture

        1. 2.2.1.1 Residential

        2. 2.2.1.2 Commercial

      2. 2.2.2 Construction

        1. 2.2.2.1 Floor and Roof

        2. 2.2.2.2 Wall

        3. 2.2.2.3 Door

        4. 2.2.2.4 Column and Beam

        5. 2.2.2.5 Staircase

        6. 2.2.2.6 Other Constructions (Partitions)

      3. 2.2.3 Packaging

        1. 2.2.3.1 Food and Beverage

        2. 2.2.3.2 Industrial

        3. 2.2.3.3 Pharmaceutical

        4. 2.2.3.4 Cosmetics

        5. 2.2.3.5 Other Packaging (Reusable Packaging)

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Thailand

        6. 2.3.1.6 Indonesia

        7. 2.3.1.7 Malaysia

        8. 2.3.1.8 Vietnam

        9. 2.3.1.9 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

        4. 2.3.2.4 Rest of North America

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Spain

        6. 2.3.3.6 Turkey

        7. 2.3.3.7 Russia

        8. 2.3.3.8 NORDIC

        9. 2.3.3.9 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Colombia

        4. 2.3.4.4 Rest of South America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Nigeria

        4. 2.3.5.4 Egypt

        5. 2.3.5.5 Qatar

        6. 2.3.5.6 UAE

        7. 2.3.5.7 Rest of Middle East and Africa

Oriented Strand Board (OSB) Market Size FAQs

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.

In 2024, the Oriented Strand Board Market size is expected to reach 37.90 million cubic meters.

Oriented Strand Board Market Report Snapshots

Oriented Strand Board Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)