Oriented Strand Boards (OSBs) are replacing plywood in the sectors of residential construction, industrial/light commercial, and repair/remodeling. They are ideal for making furniture owing to their consistency, stability, workability, fastener holding capacity, and other superior properties. OSBs are used in industrial packaging as they impart lightness, rigidity, durability, and strength.
They face demand from both structural & non-structural applications. Some of these applications include display racks, crating, bins, store fixtures, shelving, and industrial tabletops. The oriented strand board (OSB) market was valued USD 8.5 million in 2014. It would reach around USD 70 million in 2022.
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Growing focus on the adoption of renewable energy sources for conserving ecology is triggering regulations with regards to new packaging in the Middle East, India, and China. This is leading to the development of new packaging materials, which also boosts the market. Additionally, technological developments in Russia, Brazil, India, and China are bound to present new opportunities. However, fluctuating prices & inconsistent supply of raw materials may pose market challenges.
The oriented strand board (OSB) market is segregated according to applications and regions. Construction, packaging, and others are the application segments. Construction was the largest application in 2014. It exceeded USD 3.9 million that year. This was attributed to the usage of OSBs in single-layer flooring, sheathing ceiling/deck, industrial containers, mezzanine deck, subflooring, etc. The construction application will benefit from construction activities in the emerging economies of Asia Pacific.
Packaging is estimated to grow exponentially in the coming years. Its CAGR from 2015 to 2022 may exceed 29%. Packaging using OSBs is comparatively cheaper. Furthermore, OSBs possesses considerable strength. The expanding packaging sector in Thailand, Singapore, Canada, U.K., U.S., Australia, and Hong Kong would promote the application.
Regional segments comprise North America, Asia Pacific, Latin America, Europe, and Middle East & Africa (MEA). North America accounted for more than half of the global volumes in 2014. Stringent environmental regulations and abundant supply of raw materials contribute to this region.
Europe grabbed the second spot in 2014 owing to large-scale OSB adoption across end-users. Asia Pacific should experience the fastest growth over the next seven years. Demand for packaged food and fast expansion in the construction sector would lead to the same. Dominant participants of the global oriented strand board (OSB) market comprise Norbord, Huber, Louisiana-Pacific, and Weyerhaeuser. They are involved in developing efficient and low-cost products that can fulfill consumer demands.
Information Source: Grand View Research
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