Yahoo Finance The Global Oriented Strand Board Market size is expected to reach $36.6 billion by 2028, rising at a market growth of 5.3% CAGR during the forecast period
Oriented strand board, also called OSB is a sort of engineered wood equivalent to particleboard that is made by layering wood strands in certain orientations and applying adhesives. OSB comes in a range of sorts and thicknesses and can have a rough and varied surface with individual strips measuring 2.
New York, June 29, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Oriented Strand Board Market Size, Share & Industry Trends Analysis Report By Application, By Grade, By End User, By Regional Outlook and Forecast, 2022 – 2028" - https://www.reportlinker.com/p06289277/?utm_source=GNW
5 cm x 15 cm (1.0 by 5.9 inches) and lying irregularly across each other. OSB is a material with excellent mechanical qualities, making it ideal for load-bearing purposes in the construction industry. It has overtaken plywood in popularity. Sheathing in walls, floors, and roof decking is the most prevalent application. Panels with a radiant-barrier layer coated to one side are available for exterior wall applications, making installation easier and improving the building envelope’s energy performance. OSB is often used to make furniture as well.
Oriented strand board is made up of cross-oriented strips of thin, rectangular timber strips that are compressed and glued together using resin and wax adhesives in wide mats, urea-formaldehyde (OSB type 1, nonstructural, non-waterproof), isocyanate-based glue (or PMDI poly-methylene diphenyl diisocyanate based) in inner regions with melamine-urea-formaldehyde or phenol-formaldehyde resin glues on the surface (OSB type 2, structural, water-resistant on face); phenol-formaldehyde resin throughout (OSB types 3 and 4, structural, for use in damp and outside environments).
Shredding the timber into strips, which are subsequently sorted and arranged on a conveyor or wire cauls, creates the layers. A shaping line is used to create the mat. The surface layers’ wood strips are parallel to the panel’s rigidity axis, while the interior layers are perpendicular. The number of layers inserted is restricted by the machinery provided at the manufacturing location but is partly influenced by the thickness of the panel. Individual layers can also be varied thicknesses to produce different finished panel thicknesses.
COVID-19 Impact
The COVID-19 pandemic significantly impacted the oriented strand board market. Key industry players are concerned about the market’s prospects and are attempting to reconsider their sustainability strategy in order to meet the challenge. The pandemic had a significant impact on the construction industry, with most major manufacturers being compelled to halt production as well as other operations. Frequent lockdowns have resulted in a scarcity of resources in several countries of the world. COVID-19 had an impact on international trade, export, and import, resulting in a major drop in the demand for the industry. The major players are attempting to clear their inventories and focus on maintaining their capital reserves.
Market Growth Factors
Rising utilization in Construction and manufacturing processes
Wood-based panels are important in the construction industry because they provide excellent structural resilience to roofs and floors, beams, walls, doors, and staircases, among other things. They provide a stronger and tougher panel in OSB panels than other goods used in similar construction projects. The material is more homogeneous since it is free of rings and knots. OSB’s structure gives it a lot of strength, enabling it to be employed in a lot of different applications, especially load-bearing applications. Building and construction is also a growing industry in various developing and developed economies, which is predicted to stimulate the adopting of OSB, reducing infrastructure failures.
Robust composition of the product
Unsealed OSB board edges may bulge if they are not covered and properly protected. Boards that have been exposed to a lot of moisture might expand and distort. These exposed edges are prone to water and can grow by up to 15%. OSB boards and panels, on the other hand, can be compressed more gradually than plywood boards and panels. Because of the absorption capabilities of OSB boards, builders as well as other users frequently prefer to employ plywood on exposed edges, such as those that are found on the roof decking. OSB is utilized on these similar roofs for boards and decking laid away from exposed edges due to its reduced cost.
Market Restraining Factors
Lesser tolerance against moisture
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 required to be addressed shortly. Despite the fact that third-party sources concur that the product’s moisture tolerances have substantially increased, many claims that it still falls short of plywood in terms of performance. When plywood is exposed to moisture, it expands evenly all over the panel and comes back to its nominal thickness as the board dries.
Application Outlook
Based on Application, the market is segmented into Construction, Furniture, Flooring, Packaging, and Others. In 2021, the construction segment procured the largest revenue share of the oriented strand board market. The increasing growth of the segment is owing to the constantly increasing urbanization all over the world. According to the World Bank, metropolitan regions are home to 55 percent of the world’s population. By 2045, the number of people in urban areas will be increased by 1.5 times to 6 billion, representing a net gain of 2 billion people. Wood panels are utilized as roofs, walls, floors, beams, doors, and staircases, among other things, and have great structural durability. They make OSB panels that are stronger and more rigid than other components used in similar construction types.
Grade Outlook
Based on Grade, the market is segmented into OSB/3, OSB/4, OSB/2, and OSB/1. In 2021, the OSB/1 segment recorded a significant revenue share of the oriented strand board market. The OSB/1 type is widely utilized in a variety of applications, including interior installation of residential and commercial structures and decking Particleboard. OSB/1 can also be customized in terms of thickness, density, panel size, layer texture, strength, and stiffness. As a result, OSB/1 is widely used and preferred by designers and contractors. This factor is augmenting the growth of this segment of the market.
End User Outlook
Based on End User, the market is segmented into Residential and Non-Residential. In 2021, the residential segment witnessed the largest revenue share of the oriented strand board market. The increasing growth of this segment is owing to an increase in the number of people that are migrating from remote and rural areas to urban areas. This migration is increasing the demand for residencies across these areas. Therefore, the growth of this segment is rising due to the growing demand for OSB in the construction of new homes.
Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2021, North America accounted for the largest revenue share of the oriented strand board market. Due to an increased production along with a high consumption of environmentally friendly construction materials, particularly in the United States, this trend is expected to continue in the coming years. Moreover, the growth of this segment is also being augmented by the increased need for recyclable building products in the US and Canada.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include West Fraser Timber Co. Ltd., Louisiana-Pacific Corporation, Coillte, Egger Holzwerkstoffe GmbH, Arbec Forest Products, Inc., RoyOMartin, Georgia-Pacific LLC, Huber Engineered Woods LLC, Kronoplus Limited, and SWISS KRONO Group.
Strategies Deployed in Oriented Strand Board Market
Mar-2022: LP Building Solutions rolled out LP NovaCore Thermal Insulated Sheathing, the latest innovation in the LP Structural Solutions offerings. These dual-layered sheathing panels are developed in order to reduce thermal bridging and energy loss to help increase the infrastructure’s savings on cost and energy.
Sep-2021: Huber Engineered Woods introduced wall sheathing in its EXACOR Magnesium Oxide panels. New wall sheathing panels are made of inorganic materials imposed with layers of glass fiber mesh.
Apr-2021: RoyOMartin launched a new production line for Eclipse OSB Radiant Barrier. The new product aimed to double the production output of Eclipse OSB Radiant Barrier when being operated at its full capacity.
Mar-2020: Huber Engineered Woods completed its acquisition of certain assets from Extremegreen Building Products, a manufacturer of high-density structural magnesium oxide board. This acquisition would reinforce the consistent growth of the company’s structural sheathing and accessories product offerings.
Jun-2018: Kronospan introduced its first OSB boards at its UFA facility. This production expansion would increase the production capacity of the company by approximately double in order to fulfill the rising demand for OSB in the construction and building markets in Siberia, Ural, China, Japan, Volga, and South America. Moreover, this plant would comprise a capacity of 1 000 000 m3 and would manufacture OSB boards in 4 different formats.
Scope of the Study
Market Segments covered in the Report:
By Application
• Construction
• Furniture
• Flooring
• Packaging
• Others
By Grade
• OSB/3
• OSB/4
• OSB/2
• OSB/1
By End User
• Residential
• Non-Residential
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• West Fraser Timber Co. Ltd.
• Louisiana-Pacific Corporation
• Coillte
• Egger Holzwerkstoffe GmbH
• Arbec Forest Products, Inc.
• RoyOMartin
• Georgia-Pacific LLC
• Huber Engineered Woods LLC
• Kronoplus Limited
• SWISS KRONO Group
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06289277/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001
