The global Oriented Strand Board market size was valued at USD 11.30 billion in 2017 and is expected to register a CAGR of 14.3% from 2018 to 2025. Superior and beneficial properties of OSBs, such as low cost, high strength, and durability, are anticipated to spur its demand over the forecast period. Emergence of terahertz technology for the measurement of moisture and density levels of wood is expected to help in the production of advanced-grade products. The technology is being increasingly used to measure fiber orientation of OSBs owing to its sensitivity towards internal fiber structure.
It is also used to improve its structural strength leading to industry growth. Construction industry led the U.S. OSB market, in terms of product usage, owing to high demand from residential construction sector. The number of residential units in the country increased by 4.17% in 2017. It is further expected to grow at a substantial rate over the forecast period due to low mortgage rates along with increasing population and per capita income. The product is generally used as a smart alternative to the traditional lumber and plywood, as it ensures the availability of lumber supplies by efficient use of raw materials.
Construction was the largest application segment, which stood at USD 5.84 billion in 2017. 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 U.S. is anticipated drive the segment. Superior product qualities, such as strength, rigidity, moisture resistance, core voids, lack of knot, coupled with low cost is predicted to fuel its demand in the packaging applications. The product is exempted from ISPM-15 regulations and hence is used in crating and packaging for exports. Moreover, it is easy to handle, cut, assemble, nail, and drill; which enables its use in packaging containers.
North America emerged as the largest regional market in 2017 with a revenue of USD 8.01 billion. Increasing usage of advanced products, such as use of bio-adhesives as an alternative to the resins derived from crude oil, is anticipated to reduce the impact of crude oil price fluctuations, thereby benefitting the industry growth in the region. Europe exhibits a steady rise in OSB production, with Germany and Poland, being the largest producers. Asia Pacific is estimated to be the fastest-growing region over the forecast period, owing to the high potential for infrastructure development.
The global market is consolidated in nature and major companies in the market are focused on providing high-quality products through cost leadership. They primarily compete on the basis of product quality and price. Companies also focus on forming joint ventures as they face an intense internal competition due to growth in the construction sector.
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Segments Covered in the Report
This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global oriented strand board market report on the basis of application and region:
• Application Outlook (Volume, Million Square Feet; Revenue, USD Million, 2014 - 2025)
• Construction
• Packaging
• Others
• Regional Outlook (Volume, Million Square Feet; Revenue, USD Million, 2014 - 2025)
• North America
o U.S.
o Canada
• Europe
o Germany
o U.K.
• Asia Pacific
o China
o India
• Central & South America
o Brazil
• Middle East & Africa