PUBLISHER: The Business Research Company | PRODUCT CODE: 1414471
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414471
“Oriented Strand Board Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on oriented strand board market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for oriented strand board? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The oriented strand board market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Oriented Strand Board (OSB) stands as an engineered wood panel crafted from small wood strands or flakes. These components are arranged in layers and bonded together using resin or adhesive, employing high pressure and heat in the manufacturing process.
The primary grades of OSB include Oriented Strand Board/1, Oriented Strand Board/2, Oriented Strand Board/3, and Oriented Strand Board/4. Oriented Strand Board/1 denotes an engineered wood panel created from wood strands bonded via resins. This versatile material finds application in construction for building purposes and in crafting boards for interior fitments. It serves various industries including construction, furniture, flooring, packaging, and more, distributed through both online and offline channels to cater to residential and non-residential end users.
The oriented strand board market research report is one of a series of new reports from The Business Research Company that provides oriented strand board market statistics, including the oriented strand board industry's global market size, regional shares, competitors with an oriented strand board market share, detailed oriented strand board market segments, market trends, and opportunities, and any further data you may need to thrive in the oriented strand board industry. This oriented strand board market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The oriented strand board market size has grown rapidly in recent years. It will grow from $23.94 billion in 2023 to $27.54 billion in 2024 at a compound annual growth rate (CAGR) of 15.1%. During the historic period, the surge in growth can be traced back to several factors. These include a housing construction boom, the cost-effectiveness of OSB, its environmentally sustainable nature, the prevailing trends in renovation and remodeling, urbanization, and the expansion of infrastructure development. These elements collectively contributed to the notable growth observed during that time frame.
The oriented strand board market size is expected to see rapid growth in the next few years. It will grow to $46.09 billion in 2028 at a compound annual growth rate (CAGR) of 13.7%. In the upcoming forecast period, growth is anticipated to be propelled by various factors. These include the expansion of the global population, advancements specifically in specialty OSB products, the inherent resilience of OSB to economic fluctuations, a heightened emphasis on energy-efficient construction, and ongoing innovation in construction design. Noteworthy trends anticipated during this period encompass the digital transformation within the construction sector, technological strides in manufacturing, the integration of teleophthalmology, a concentrated focus on combination therapies, and the emergence of biosimilars in the field of ophthalmology. These elements collectively define the trajectory for growth and evolution in the forecasted timeframe.
The anticipated surge in the construction of green buildings is poised to drive the growth of the oriented strand board market. Green buildings, focusing on environmentally responsible and resource-efficient practices, utilize oriented strand board (OSB) in various capacities such as structural sheathing material, insulated panels, and roof planking. As of November 2022, the U.S. Green Building Council reported a 19% increase in green building certifications worldwide, spanning approximately 184 countries through certifications provided by entities such as the World Green Building Council and Leadership in Energy and Environmental Design (LEED). This upsurge in green building construction serves as a significant driver for the oriented strand board market's expansion.
The escalating trend of home remodeling is anticipated to fuel growth within the oriented strand board market. Home remodeling involves the renovation or enhancement of residential properties and commonly incorporates oriented strand board (OSB) due to its affordability, strength, and versatility in applications such as sheathing, subflooring, and structural elements. According to statistics from June 2022 provided by RubyHome, a U.S.-based luxury real estate brokerage, the U.S. home remodeling market's revenue reached $369 billion in 2021, marking a 9% growth from the previous year. This rise in home remodeling endeavors serves as a significant driver for the oriented strand board market's expansion.
A notable trend within the oriented strand board market is the emphasis on product innovation. Companies operating in this market are actively innovating to maintain their competitive edge. For example, in February 2022, Medite Smartply, a UK-based sustainable timber panel manufacturer, introduced 'The Smartply Sure Step,' an oriented strand board/3 panel equipped with a durable coating. This innovation features a high-performance coating ensuring slip resistance and enhanced durability, showcasing the industry's commitment to ongoing product advancements.
Major players in the oriented strand board market are directing their efforts towards developing panel solutions, particularly cost-effective wood strands, to meet the demand for superior engineered wood products. For instance, in March 2023, Strandply OSB, an India-based plywood supplier, launched a cost-effective board made of wood strands, known as Oriented Strand Board (OSB). This innovative solution, comprising 100% eucalyptus and pure resin, is a flat panel product utilizing adhesives and compression techniques, offering advantages in efficiency and quality compared to traditional plywood, and without the need for heating or sanding.
In February 2021, West Fraser Timber Co. Ltd., a Canada-based wood products manufacturing company, acquired Norbord Inc. for $3.1 billion. With this acquisition, West Fraser Timber Co. Ltd. Timber Co. Ltd expanded its geographical presence in North America, allowing both companies to deliver a wide range of wood products and achieve future growth and value enhancement. Norbord Inc. is a Canada-based producer of oriented strand boards and other wood products.
Major companies operating in the oriented strand board market report are 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, Pinnacle Renewable Energy Inc., Stora Enso Oyj, Metsa Group, Schweitzer-Mauduit International Inc., Armstrong World Industries Inc., Dongwha Enterprise Co. Ltd., Hexion Inc., Nippon Paper Industries Co. Ltd., Ormet S.p.A., Pfleiderer Group, Resolute Forest Products Inc., Stimson Lumber Company
North America was the largest region in the oriented strand board market in 2023. 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
The countries covered in the oriented strand board market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The oriented strand board market consists of sales of wood fiber, waterproof resin binders, and long strands. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.