The global oriented strand board market was valued at $25,550.2 million in 2020, and is projected to reach $44,320.8 million by 2030, growing at a CAGR of 5.4% from 2020 to 2030.
Oriented strand board is a widely used, versatile engineered wood board made from waterproof, heat curing adhesives, and rectangular shaped strands of wood arranged in cross-oriented layers. It is a type engineered wood and is similar in strength and performance to plywood and resists deflection and warping. The oriented strand board market is primarily driven by increase in renovation and remodeling of older homes. In addition, new housing projects are also responsible for growth of the oriented strand board market. Since, wood-based materials are also cost-effective and environment friendly alternative to other wood and cement products, use of these materials as a replacement for building materials is on the rise. In addition, wood-based materials release fewer harmful by-products during manufacture than emission-intensive materials such as concrete, steel, or aluminum. Therefore, oriented strand board or wood-based materials are expected to minimize gas emissions. In addition, adhesive/resins used in strand board are environment friendly and stable and do not generate greenhouse gases. This has led to increase in use of engineered wood and oriented strand board by builders and architects. Moreover, rise in construction related activities globally is expected propel demand for oriented strand boards, which is expected to provide lucrative opportunities for growth of the global oriented strand board market.
The global oriented strand board market is segmented into grade, application, end user, and region. By grade, the market is categorized into OSB/1, OSB/2, OSB/3, and OSB/4. Currently, the OSB/3 segment dominates the global oriented strand board market. On the basis of application, the market is categorized into construction, flooring, packaging, and others. The construction segment dominated the market in 2020 and the flooring segment. is anticipated to grow with the highest CAGR of 4.8% in 2020. On the basis of end user, the market is categorized into residential and non-residential. The residential segment dominated the market in 2020 and the non-residential segment is anticipated to grow with a highest revenue of CAGR 5.7% in 2020. On the basis of region, the oriented strand board market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominates the market, followed by Europe. Asia-Pacific is predicted to grow faster than LAMEA with a CAGR of 4.5% during the forecast period. The Asia-Pacific segment is expected to dominate the oriented strand board market.
Key players operating in this market include Coillte, Egger Hozwerkstoffe GmbH, Koch Industries, Kronospan Ltd., Louisiana Pacific Corporation, West Fraser, Swiss Krono Group, Sonae Industria, Tolko Industries, and Weyerhauser. Major players such as Collite, Egger Hozwerkstoffe GmbH, Koch Industries, and West Fraser are adopting acquisition to improve their product portfolio to maintain competition in the market. For instance, in February 2021, West Fraser acquired all of the issued and outstanding common shares of Norbord, which deals in wood-based panels and oriented strand board (OSB). This acquisition helped in improving the product portfolio of the company. Such instances are expected to provide lucrative opportunities for major players for growth of the oriented strand board market.
Oriented strand board is a widely used, versatile engineered wood board made from waterproof, heat curing adhesives, and rectangular shaped strands of wood arranged in cross-oriented layers. It is a type engineered wood and is similar in strength and performance to plywood and resists deflection and warping. The oriented strand board market is primarily driven by increase in renovation and remodeling of older homes. In addition, new housing projects are also responsible for growth of the oriented strand board market. Since, wood-based materials are also cost-effective and environment friendly alternative to other wood and cement products, use of these materials as a replacement for building materials is on the rise. In addition, wood-based materials release fewer harmful by-products during manufacture than emission-intensive materials such as concrete, steel, or aluminum. Therefore, oriented strand board or wood-based materials are expected to minimize gas emissions. In addition, adhesive/resins used in strand board are environment friendly and stable and do not generate greenhouse gases. This has led to increase in use of engineered wood and oriented strand board by builders and architects. Moreover, rise in construction related activities globally is expected propel demand for oriented strand boards, which is expected to provide lucrative opportunities for growth of the global oriented strand board market.
The global oriented strand board market is segmented into grade, application, end user, and region. By grade, the market is categorized into OSB/1, OSB/2, OSB/3, and OSB/4. Currently, the OSB/3 segment dominates the global oriented strand board market. On the basis of application, the market is categorized into construction, flooring, packaging, and others. The construction segment dominated the market in 2020 and the flooring segment. is anticipated to grow with the highest CAGR of 4.8% in 2020. On the basis of end user, the market is categorized into residential and non-residential. The residential segment dominated the market in 2020 and the non-residential segment is anticipated to grow with a highest revenue of CAGR 5.7% in 2020. On the basis of region, the oriented strand board market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominates the market, followed by Europe. Asia-Pacific is predicted to grow faster than LAMEA with a CAGR of 4.5% during the forecast period. The Asia-Pacific segment is expected to dominate the oriented strand board market.
Key players operating in this market include Coillte, Egger Hozwerkstoffe GmbH, Koch Industries, Kronospan Ltd., Louisiana Pacific Corporation, West Fraser, Swiss Krono Group, Sonae Industria, Tolko Industries, and Weyerhauser. Major players such as Collite, Egger Hozwerkstoffe GmbH, Koch Industries, and West Fraser are adopting acquisition to improve their product portfolio to maintain competition in the market. For instance, in February 2021, West Fraser acquired all of the issued and outstanding common shares of Norbord, which deals in wood-based panels and oriented strand board (OSB). This acquisition helped in improving the product portfolio of the company. Such instances are expected to provide lucrative opportunities for major players for growth of the oriented strand board market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global oriented strand board market analysis from 2020 to 2030 to identify the prevailing global oriented strand board market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the global oriented strand board market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global oriented strand board market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Grade
- OSB/1
- OSB/2
- OSB/3
- OSB/4
By Application
- Construction
- Furniture
- Flooring
- Packaging
- Others
By End User
- Residential
- Non-residential
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- Italy
- France
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- coillte
- Egger Holzwerkstoffe GmbH
- Koch Industries (Georgia Pacific)
- Kronospan Ltd
- Louisiana Pacific Corporation
- West Fraser
- swiss krono group
- sonae industria
- tolko industries
- Weyerhaeuser Company
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: GLOBAL ORIENTED STRAND BOARD MARKET, BY GRADE
CHAPTER 5: GLOBAL ORIENTED STRAND BOARD MARKET, BY APPLICATION
CHAPTER 6: GLOBAL ORIENTED STRAND BOARD MARKET, BY END USER
CHAPTER 7: GLOBAL ORIENTED STRAND BOARD MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
The global oriented strand board market size was valued at $25.6 billion in 2020, and is estimated to reach $44.3 billion by 2030, growing at a CAGR of 5.4% from 2021 to 2030. The oriented strand board market forecast from 2020 to 2030.However, fluctuation in raw material prices acts as restraint for the oriented strand board industry. Similarly, plastic laminates also hamper sales of oriented strand boards. In addition, outbreak of the COVID-19 has led to halt in construction and manufacturing activities across the globe. Halt in logistics services has led to halt in the packaging industry, which, in turn, hinders growth of the oriented strand board industry. However, oriented strand board market trends are gradually back on track and vaccine discovery is expected to lead to recovery of the oriented strand board industry. Further, urbanization of major cities in Asia-Pacific and LAMEA is expected to lead to rise in construction activities and increase in demand for oriented products in the market.
In addition, oriented strand board is used for flooring, parting walls, and roofs to provide luxurious interior for transport systems.For instance, it was announced in November 2020 that Toyota Camry Hybrid will be upgraded with design and safety features. This upgraded version covers titanium line and black wood-based panel used to installed in the cars.. In addition, oriented strand board is also used to manufacture decorative items and artworks as it is available in various thickness and colors, which is easy to work on. Such applications and strategies by end users of oriented strand board are anticipated to boost the oriented strand board growth during the forecast period.
Increase in non-residential construction activities and repair drives growth of the oriented strand board industry. Furthermore, the industry is expected to witness significant growth in India and China, owing to huge urban population growth. Moreover, rise in construction of new official buildings, non-residential complexes, and industrial spaces is expected to boost growth of the oriented strand board market.
The global oriented strand board market analysis is segmented into grade, application, end user, and region. By grade, the market is categorized into OSB/1, OSB/2, OSB/3 and OSB/4. Currently, the OSB/3 segment have the maximum global oriented strand board market share.
On the basis of application, the industry is categorized into construction, flooring, packaging, and others. The construction segment dominated the market in 2020 and the flooring segment is anticipated to grow with the highest CAGR of 4.8% during the forecast period. On the basis of end user, it is categorized into residential and non-residential. The residential segment dominated the market in 2020 and the non-residential segment is anticipated to grow with the highest CAGR of 5.7% during the forecast period.
On the basis of region, the oriented strand board industry is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the market, with the highest revenue growth, followed by Europe. Asia-Pacific is predicted to grow faster than LAMEA with a CAGR of 4.5% during the forecast period. The Asia-Pacific segment is expected to dominate the oriented strand board market.
The key players operating in global oriented strand board market include Coillte, Egger Hozwerkstoffe GmbH, Koch Industries, Kronospan Ltd., Louisiana Pacific Corporation, West Fraser, Swiss Krono Group, Sonae Industria, Tolko Industries, and Weyerhaeuser.
Major players are adopting product launch and acquisition as key developmental strategies to improve the product portfolio of oriented strand boards. For instance, in September 2020, Egger Group has started new wood-based materials plant in Lexington, North Carolina, USA. This expansion creates 400 new jobs and is responding to growing demand for wood-based materials in North America.
Several manufacturers in the global oriented strand board industry stopped their business activities in 2020, owing to lockdowns implemented in developed and developing countries, owing to ban on industrial activities due to the COVID-19 pandemic. This halt in production activities impacted revenue of the oriented strand board manufacturing companies. For instance, net sales of Coillte dropped by 10.9% from January 2020 to December 2020. In addition, lack of manpower and raw materials affected the supply chain of the global oriented strand board market. However, the market is projected to cover from the 1st quarter of 2023, owing to reduced restrictions and reopening of the global oriented strand board industry. Moreover, in 2021, with the availability of vaccine against COVID-19, the market re-opened at full pace with a start of 2022.
Companies Mentioned
- coillte
- Egger Holzwerkstoffe GmbH
- Koch Industries (Georgia Pacific)
- Kronospan Ltd
- Louisiana Pacific Corporation
- West Fraser
- swiss krono group
- sonae industria
- tolko industries
- Weyerhaeuser Company
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 243 |
| Published | April 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 25550.2 million |
| Forecasted Market Value ( USD | $ 44320.8 million |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
