Market Size of Asia-Pacific Oriented Strand Board Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 6.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
APAC Oriented Strand Board Market Analysis
The Asia-Pacific oriented strand board (OSB) market is estimated to register a CAGR of over 6% during the forecast period.
COVID-19 resulted in the shutdown of various manufacturing and other industries. Strict social distancing norms and prolonged lockdowns were a severe blow to several small and medium-scale industries. The furniture-making industry, which is majorly concentrated around small-medium players, witnessed a complete slowdown during the pandemic. With a lack of labor and disruptions in the supply chain, even the construction industry took a major hit during the pandemic, with many projects getting delayed and some projects being completely shut down. The aforementioned factors resulted in hindered growth of the OSB market during the pandemic.
- With industrial activity slowly resuming to pre-pandemic levels, there is a noticeable pick-up in the construction and manufacturing segment. More and more organizations are now providing the option to work from home, and therefore, the furniture market is also witnessing a boost in demand.
- Rising export from countries like India and China is further expected to drive the demand for OBS in the packaging segment.
- However, lower perceived value amongst consumers and high susceptibility to water-prone damages are potential factors that may hamper the demand for OBS in the market.
- In the Asia-Pacific region, India is showing great promise in dominating the OBS market with growing construction activities and rising exports.
