Oriented Strand Board (OSB) Market: Overview
Oriented strand board (OSB) is type of engineered wood, which is manufactured in cross-oriented layers to form strong, stiff, structural panels. The structured panels is formed by composition of thin rectangular-shaped wood strands arranged in layers at right angles to on-another. OSB is also known as sterling board, flake board, and aspenite. This board is bonded with waterproof adhesives and is also treated with sealants to guard against moisture penetration during shipment. The construction industry widely uses this board in a range of products ranging from squeak-free floors to solid wall and roofs sheathing. It is engineered for strength and designed and can be employed in applications such as residential and non-residential. Oriented strand board has broaden its position in new markets such as materials-handling applications, the structural insulated panel industry, do-it yourself interior projects, wood I-joist products, and few industrial applications (furniture and trailer liners), due to its enhanced properties and performance.
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Oriented Strand Board (OSB) Market: Key Segments
Based on grades, the global oriented strand board (OSB) market can be segmented into OSB/0, OSB/1, OSB/2, OSB/3, and OSB/4. These grades are defined based on their mechanical performance and resistance to moisture. OSB/2 is versatile, tough, and inexpensive. OSB/3 is also a versatile board has added features such as moisture resistance. It is used in load-bearing boards in humid conditions, while OSB/2 is used in load-bearing boards in dry conditions. The OSB/4 grade is a heavy-duty load-bearing board, which is widely consumed in regions having humid temperatures. The OSB/1 grade type is extensively utilized due to its consumption in various applications including the interior fitments of a residential and commercial buildings. Oriented strand boards can also be custom manufactured to meet specific requirements in terms of thickness, density, panel size, surface texture, strength and rigidity. Hence, oriented strand boards are widely accepted and preferred by architects and contractors.
Based on application, the oriented strand board (OSB) market can be bifurcated into residential and non-residential. Increasing demand for oriented strand boards for the use in roof sheathing, walls, decks, and structural insulated panels is projected to boost the oriented strand board (OSB) market during the forecast period. Additionally, growth in the construction industry in emerging economies and rise in renovation activities in developed regions are estimated to propel the oriented strand board (OSB) market during the forecast period. However, rising demand for substitutes such as plywood is likely to hamper the oriented strand board (OSB) market during the forecast period.
Oriented Strand Board (OSB) Market: Regional Outlook
In terms of region, the global oriented strand board (OSB) market can be divided into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The oriented strand board (OSB) market in North America is well established and is expanding at a significant rate due to favorable government legislations. This, in turn, has increased the oriented strand board (OSB) market value for oriented strand board markets in U.S. and Canada. Furthermore, increase in demand for recyclable building products led by the implementation of stringent government regulations on eco-friendly construction products in Europe is likely to boost the oriented strand board (OSB) market during the forecast period. Asia Pacific holds a prominent share of the global oriented strand board (OSB) market due to the rise in infrastructure activities and increase in government initiatives to increase construction in developing economies in the region. Latin America and Middle East & Africa are estimated to account key share of the global oriented strand board (OSB) market by the end of the forecast period owing to growth in residential and commercial construction activities in these regions.
Oriented Strand Board (OSB) Market: Key Players
Major players operating in the global oriented strand board (OSB) market include Huber Engineered Woods LLC., Arbec Forest Products Inc., Sonae Arauco, Louisiana-Pacific Corporation and Ainsworth Lumber Co. Ltd., Manufacturers have adopted strategies such as agreements and joint ventures to maintain a strong foothold in the oriented strand board (OSB) market and to meet the rising demand for oriented strand boards from consumers.