Oriented Strand Board Market Size, Share & Trends Analysis Report By Application (Construction, Packaging, Others), By Region (North America, Europe, Asia Pacific, CSA, MEA), And Segment Forecasts, 2023 - 2030

Oriented Strand Board Market Size, Share & Trends Analysis Report By Application (Construction, Packaging, Others), By Region (North America, Europe, Asia Pacific, CSA, MEA), And Segment Forecasts, 2023 - 2030

Oriented Strand Board Market Growth & Trends

The global oriented strand board market size is expected to reach USD 45.27 billion by 2030 expanding at a CAGR of 8.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. Growing product penetration in residential and commercial construction due to superior aesthetics is anticipated to benefit the industry growth. The industry has witnessed extreme fluctuations in supply and demand on account of the cyclic nature of the residential construction. Suppliers in the OSB market heavily influence the product prices as the raw material accounts for a high proportion of the overall manufacturing cost of the oriented strand boards.

Increasing preference for green building materials in construction industry is expected to have a positive impact on the product demand. Oriented strand board is exempted from formaldehyde regulations, owing to its low emission rate. In addition, less wood wastage in the manufacturing of OSBs is expected to emerge as one of the major factors driving the industry over the forecast period. Fluctuations in raw material prices may restrain the market growth. Notable volatility in the price of the wood on account of weather conditions is expected to hamper the growth. In addition, extensive price volatility of the adhesives and resins used in the product due to fluctuations in crude oil prices is also expected to limit the growth.

Oriented Strand Board Market Report Highlights

• The construction segment held the largest revenue share of 54.0% in 2022
• North America dominated the global oriented strand board market and accounted for the largest revenue share of 70.2% in 2022
• Asia Pacific is expected to grow at the fastest CAGR of 14.5% during the forecast period
• The industry is characterized by the presence of major firms with notable market shares, which is making it difficult for emerging companies to enter the market
• Key companies in the industry are focused on organic and inorganic business growth through M&A and capacity expansions to cater to rising demand

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