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Oriented Strand Board (OSB) Market high gloss mdf board price
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
VANCOUVER, BRITISH COLUMBIA, CANADA, June 5, 2024 /EINPresswire.com/ -- 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. The oriented strand board (OSB) market is experiencing significant revenue growth, driven by increasing demand for eco-friendly and sustainable products in developed countries such as the U.S., France, and Germany.
Key Drivers of Oriented Strand Board Market
The rising trend of green building materials is a major factor influencing the consumption of oriented strand board. These materials are favored in the construction industry for their low emission rates. By 2025, it is anticipated that over 60% of new building constructions in the U.S. and Canada will be green buildings. Mexico's construction market is also rapidly embracing this trend. In the past five years, the adoption of oriented strand board products has grown by over 25% due to these developments.
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Versatile Alternative to Traditional Materials
Oriented strand board is emerging as a versatile alternative to steel and concrete in building construction. Advances in technology have enhanced its strength, stiffness, and durability while making it lighter and more cost-effective. Additionally, it offers aesthetic benefits when properly designed and installed, further increasing its popularity among builders and architects.
Eco-Friendly Adoption and Sustainable Construction
The global push towards eco-friendly and sustainable products is another key driver of the oriented strand board market. The increasing construction of green buildings, designed to minimize carbon emissions, significantly boosts the demand for OSB. Programs like the U.S. Green Building Council's Leadership in Energy and Environmental Design (LEED) promote the use of green materials, further driving market growth.
Strategic Moves by Industry Players
Leading companies in the OSB market are focusing on product launches and acquisitions to enhance their product portfolios and stay competitive. For example, in October 2020, Louisiana Pacific Corporation introduced the LP WeatherLogic Air & Water Barrier, a new brand aimed at improving framing and sheathing solutions and achieving a tight building envelope. Such strategic initiatives are expected to create lucrative opportunities for revenue growth.
One of the major challenges facing the oriented strand board market is its lesser tolerance against moisture. Like plywood, regular oriented strand boards can absorb moisture quickly, leading to potential damage. This issue is a significant concern and is expected to hinder market growth.
The global oriented strand board market is segmented into structural and non-structural OSB. The non-structural segment is expected to grow rapidly, driven by its increasing use in furniture and packaging applications. Non-structural OSB is an environmentally friendly and economical alternative to traditional wood-based materials like particleboard and medium-density fiberboard (MDF). Its hardness and durability make it ideal for packaging, providing a robust material for storing and transporting goods.
The construction segment is projected to hold the largest market share over the forecast period. The growing use of OSB in single-layer flooring, subflooring, wall and ceiling panel sheathing, industrial containers, and mezzanine decks, along with strong global housing demand, is driving this segment's growth.
The packaging segment is also expected to register rapid growth. OSB's superior qualities, such as strength, rigidity, moisture resistance, and cost-effectiveness, make it a preferred choice for packaging applications. It is exempt from ISPM-15 regulations, making it suitable for crating and packaging for exports. Its ease of handling, cutting, assembling, nailing, and drilling further enhances its appeal in the packaging industry.
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Oriented Strand Board Top 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:
Oriented Strand Board (OSB) Latest Industry News
On January 22, 2021, Norbord Inc. announced the acquisition of all shares of Oriented Strand Board (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 Oriented Strand Board (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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Oriented Strand Board (OSB) Market Segment Analysis
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)
Grade Outlook (Revenue, USD Billion; 2019-2032)
Application Outlook (Revenue, USD Billion; 2019-2032)
End-Use Outlook (Revenue, USD Billion; 2019-2032)
Regional Outlook (Revenue, USD Billion; 2019–2032)
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