Oriented Strand Board Market is growing at a CAGR of 5.4% and is projected to reach $44.3 billion by 2030

OSB market is expected to experience sustained growth driven by urbanization, increased construction activities, innovative applications in various industries

WILMINGTON, DE, UNITED STATES, March 10, 2025 /EINPresswire.com/ -- The global oriented strand board (OSB) market has witnessed significant growth in recent years. According to market research, the OSB market was valued at $25.6 billion in 2020 and is projected to reach $44.3 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.4% from 2021 to 2030. This forecast indicates the strong potential of the OSB industry as construction activities and industrial demands continue to rise worldwide.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐏𝐃𝐅 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲@ https://www.alliedmarketresearch.com/request-sample/A16017

However, fluctuations in raw material prices pose a significant challenge to the OSB industry. Additionally, plastic laminates have emerged as an alternative material, affecting the sales of OSB. The outbreak of the COVID-19 pandemic further disrupted the industry, leading to a halt in construction and manufacturing activities across the globe. The pandemic also affected logistics services, causing delays in the packaging industry and slowing down the OSB market's growth. Despite these setbacks, the industry is gradually recovering, thanks to vaccine rollouts and the resumption of economic activities. Additionally, the rapid urbanization of major cities in Asia-Pacific and LAMEA is expected to fuel construction activities, increasing the demand for OSB products in the market.

OSB is widely used in flooring, partition walls, and roofing, contributing to its rising demand. It is also utilized in the transportation sector to provide luxurious interiors. For example, in November 2020, Toyota announced an upgraded version of its Camry Hybrid, featuring black wood-based panels made from OSB. Additionally, OSB is commonly used to manufacture decorative items and artworks due to its availability in various thicknesses and colors, making it easy to work with. Such applications and strategies by end users are expected to drive the OSB market's growth during the forecast period.

The increase in non-residential construction activities and infrastructure repair projects has further boosted the OSB industry's expansion. The demand for OSB is particularly high in countries like India and China, where urban populations are growing rapidly. The construction of new office buildings, commercial complexes, and industrial spaces is expected to further propel the market's growth.

The global OSB market is segmented based on 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 holds the largest market share due to its versatility and strength.

In terms of application, the OSB industry is divided into construction, flooring, packaging, and others. The construction segment dominated the market in 2020, while the flooring segment is projected to grow at the highest CAGR of 4.8% during the forecast period. Regarding end users, the market is categorized into residential and non-residential sectors. The residential segment led the market in 2020, while the non-residential segment is expected to grow at the highest CAGR of 5.7% during the forecast period.

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Regionally, the OSB industry is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America held the highest revenue share in 2020, followed by Europe. However, Asia-Pacific is expected to register the fastest growth, with a projected CAGR of 4.5% during the forecast period. The increasing urbanization and construction boom in the Asia-Pacific region are expected to drive OSB market dominance in the coming years.

Key players in the global OSB market include Coillte, Egger Holzwerkstoffe GmbH, Koch Industries, Kronospan Ltd., Louisiana Pacific Corporation, West Fraser, Swiss Krono Group, Sonae Industria, Tolko Industries, and Weyerhaeuser. These companies are implementing various strategies, including product launches and acquisitions, to strengthen their market presence. For instance, in September 2020, Egger Group inaugurated a new wood-based materials plant in Lexington, North Carolina, USA. This expansion created 400 new jobs and responded to the growing demand for wood-based materials in North America.

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The COVID-19 pandemic significantly impacted the OSB industry, with many manufacturers halting production due to lockdowns and restrictions on industrial activities. The decline in production activities resulted in revenue losses for several companies. For example, Coillte reported a 10.9% decline in net sales from January to December 2020. Additionally, the shortage of manpower and raw materials disrupted the global supply chain, further slowing market growth. However, as restrictions eased in 2021 and vaccination efforts progressed, the industry began recovering. The market is projected to fully rebound by the first quarter of 2023, supported by increased construction activities and economic recovery.

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David Correa
Allied Market Research
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