Global Oriented Strand Board Market Expected to Reach $44.3 Billion by 2030

PORTLAND, OR, UNITES STATES, November 6, 2023 /EINPresswire / -- 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.

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.

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In addition, oriented strand board is used for flooring, parting walls, and roofs to provide luxurious interior for transport systems 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.

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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.

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Key Players:
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

David Correa
Allied Analytics LLP
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