Oriented Strand Board Market Size Worth USD 46.40 Billion in 2032 | Emergen Research

Increase in adoption of eco-friendly and sustainable products and increase in construction of green buildings are some of the major factors driving the global oriented strand board market revenue growth

Vancouver, Jan. 18, 2024 (GLOBE NEWSWIRE) -- The global Oriented Strand Board (OSB) market size was USD 27.69 billion in 2022 and is expected to register a revenue CAGR of 5.3% during the forecast period. Increase in adoption of eco-friendly and sustainable products and increase in construction of green buildings are some of the major factors driving the global oriented strand board market revenue growth.

Demand for eco-friendly and sustainable products in developed countries such as the U.S., France, and Germany boost oriented strand board market revenue growth. Green building materials are expected to have a positive effect on product consumption rate as these are preferred in the construction industry, due to their low emission rates. For instance, in North America, the U.S. Green Building Councils ensures that buildings in the country are sustainable and utilize green materials for construction purposes through Leadership in Energy and Environmental Design (LEED), which is the leading program for green buildings.

Major players such as are adopting the product launch & acquisition to improve their product portfolio to maintain competition in the market. For instance, October 2020, Louisiana Pacific Corporation announced a new brand named, LP WeatherLogic Air & Water Barrier, an APA Structural I Rated wall and roof sheathing. Helpful for framing and sheathing solutions and achieve a tight building envelope. Such instances are expected to provide lucrative opportunities for the major players in terms of revenue growth.

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However, Lesser tolerance against moisture is restraining revenue growth of the market. Regular oriented strand boards are more prone to absorbing moisture very early. Similar to plywood performance, oriented strand boards can also be damaged due to the presence of moisture in their surroundings. This factor is a subject of major concern, which is expected to hamper revenue growth of the market.

Segment Insights

Product Insights:

On the basis of product, the global oriented strand board market is segmented into structural oriented strand board and non-structural oriented strand board. Non-structural oriented strand board segment is expected to register a rapid revenue growth rate in the global oriented strand board market over the forecast period. Increasing use of non-structural OSB in furniture and packaging applications is expected to fuel revenue growth of the segment. Particleboard and MDF, which are conventional wood-based materials used in the furniture business, can be replaced with non-structural OSB, which is both environmentally benign and economical (medium-density fiberboard).

Application Insights:

On the basis of application, the global oriented strand board market is segmented into construction, packaging, furniture, & others. Construction segment is expected to account for largest revenue share in the global oriented strand board market over the forecast period. Rising product usage in applications including single-layer flooring, subflooring, wall, ceiling, & panel sheathing, industrial containers, and mezzanine deck, coupled with strong housing demand in across the world is expected drive revenue growth of the segment.

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Regional Insights:

Asia Pacific market accounted for the largest revenue share in 2022 and is expected to register a steady revenue CAGR over the forecast period. Growing usage of OSB in construction sector is driving revenue growth of the market in this region. The mechanical properties of Oriented Strand Boards (OSB) make these useful in load-bearing applications in the construction segment. OSBs are extensively used for roof, wall, and floor sheathing purposes. The construction sector in India and China is expected to grow rapidly during the forecast period, owing to increasing population, rapid urbanization, and rising disposable income among the middle-class population in countries in this region.

Over the forecast period, demand for OSB in the building industry is expected to drive the Europe market revenue growth moderately throughout the forecast period. Adoption of OSB in the region is being driven by the region's strict limitations on building supplies and the growing emphasis on environmentally friendly building methods. The expansion of the construction industry and the rising demand for OSB in the furniture and packaging industries have made the U.K. one of the region's top markets.

Scope of Research

Report DetailsOutcome
Market size in 2022USD 27.69 Billion
CAGR (2023–2032)5.3%
Revenue forecast to 2032USD 46.40 Billion
Base year for estimation2022
Historical data2019–2021
Forecast period2023–2032
Quantitative unitsRevenue in USD Million and CAGR in % from 2023 to 2032
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments coveredProduct, Grade, Application, End-Use, and Region
Regional scopeNorth America, Europe, Asia Pacific, Latin America, Middle East & Africa
Country scopeU.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA
Key companies profiledNorbord Inc, Weyerhaeuser Company, Georgia-Pacific LLC, Egger Group, Swan Timber Group, Arauco, Kronospan Holdings Limited, Louisiana-Pacific Corporation, Martco LLC, Interfor Corporation, DOK Kalevala, Dieffenbacher, Langboard, Luli, and Medite Smartply
Customization scope10 hours of free customization and expert consultation

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Major Companies and Competitive Landscape

The global oriented strand board market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective products. Some of the major companies included in the global oriented strand board market report are:  

  • Norbord Inc
  • Weyerhaeuser Company
  • Georgia-Pacific LLC
  • Egger Group
  • Swan Timber Group
  • Arauco
  • Kronospan Holdings Limited
  • Louisiana-Pacific Corporation
  • Martco LLC
  • Interfor Corporation
  • DOK Kalevala
  • Dieffenbacher
  • Langboard
  • Luli
  • Medite Smartply

Strategic Development

  • On January 22, 2021, Norbord Inc. announced the acquisition of all shares of OSB manufacturer LP Building Solutions for USD 3 billion. The acquisition will increase Norbord's production capacity and expand its presence in the North American OSB market.
  • On December 08, 2021, Egger Group announced the expansion of its OSB production facilities in Germany, investing around USD 64.7 million to increase its annual capacity to 650,000 cubic meters.

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For the purpose of this report, Emergen Research has segmented the global oriented strand board market on the basis of product, grade, application, end-use, and region:

  • Product Outlook (Revenue, USD Billion; 2019-2032)
    • Structural Oriented Strand Board
    • Non-Structural Oriented Strand Board
  • Grade Outlook (Revenue, USD Billion; 2019-2032)
    • OSB/1
    • OSB/2
    • OSB/3
    • OSB/4
  • Application Outlook (Revenue, USD Billion; 2019-2032)
    • Construction
    • Packaging
    • Furniture
    • Others
  • Ens-Use Outlook (Revenue, USD Billion; 2019-2032)
    • Residential
    • Non-Residential
  • Regional Outlook (Revenue, USD Billion; 2019–2032)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. France
      3. U.K.
      4. Italy
      5. Spain
      6. Benelux
      7. Rest of Europe
    • Asia Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Turkey
      5. Rest of MEA

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