Oriented strand board (OSB) is type of engineered wood, which is manufactured in cross-oriented layers to form strong, stiff, structural panels
Oriented Strand Board (OSB): Introduction
- Oriented strand board (OSB) is type of engineered wood, which is manufactured in cross-oriented layers to form strong, stiff, structural panels. Structured panels are formed by the composition of thin rectangular-shaped wood strands arranged in layers at right angles. 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 ODB in a wide range of products 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. OSB has broadened its position in new markets such as materials-handling, structural insulated panel, do-it yourself interior projects, wood I-joist products, and a few industrial applications (furniture and trailer liners), due to its enhanced properties and performance.
Key Drivers and Restraints of Global Oriented Strand Board (OSB) Market
- The OSB market has developed significantly in the recent years. This can be primarily ascribed to high performance and increasing recognition of eco-friendly products globally. OSB plays an important role in addressing several issues associated with mechanical performance and resistance to moisture. These boards are versatile, tough, and inexpensive. Rise in usage of OSB in the packaging industry for food and beverages, pharmaceutical, cosmetics, and others is expected to propel the OSB market during the forecast period.
- Increase in demand for strong and stiff structural wood-based panel products is expected to create significant opportunities for the OSB market. In the construction industry, OSB is used for floors and roofs, walls, doors, staircases, columns, and beams. This is expected to drive the demand for OSB during the forecast period.
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Oriented Strand Board (OSB): Grade Segment
- In terms of grade, the global 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.
- The OSB/1 grade segment is expected to account for significant share of the OSB market during the forecast period. It is anticipated to be followed by the OSB/2 segment.
- The OSB/4 segment is likely to expand at a rapid pace during the forecast period, due to its heavy-duty load-bearing capacity. It is widely consumed in regions with humid temperatures around the globe.
Oriented Strand Board (OSB): End-use Segment
- In terms of end-use, the global OSB market can be divided into furniture, construction, and packaging
- The construction segment is estimated to expand at a rapid pace due to growth in the construction industry in emerging economies and rise in renovation activities in developed regions
- The furniture segment is likely to expand at a healthy CAGR during the forecast period, owing to the increase in usage of roof sheathing, walls, decks, and structural insulated panels
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Covid-19 Impact on Oriented Strand Board (OSB) Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 213 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
- Manufacture of various consumer goods and other products across the globe has come to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the OSB market.
North America to Dominate Oriented Strand Board (OSB) Market
- In terms of region, the global OSB market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global OSB market in 2020. This trend is anticipated to continue during the forecast period due to the higher production and consumption of eco-friendly construction materials, especially in the U.S. The OSB market in Europe is anticipated to expand at a rapid pace owing to the increase in demand for recyclable building products in the region.
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Key Manufacturers Operating in Global Oriented Strand Board (OSB) Market
The global OSB market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global OSB market include:
- Huber Engineered Woods LLC.
- Arbec Forest Products Inc.
- Sonae Arauco
- Louisiana-Pacific Corporation
- Ainsworth Lumber Co. Ltd.
- SGPS, S.A.
- EGGER Group
- COILLTE
- Kronopspan
- Weyerhaeuser
- Tolko Industries Ltd.
- Norbord
Companies in the Oriented Strand Board market have increasingly shifted gears with wide application of digital technology across the continuum, from raw material sourcing to manufacturing to generation of final output, to warehousing to final distribution operations. Among the various affects, the market is witnessing new growth economics due to thinning of line between specialty and commodity businesses that are associated with the larger ecosystem. At the same time, new growth parameters are being vigorously being debated as industry stakeholders put greater emphasis on the circular economy processes.
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