Market Size of Oriented Strand Board (OSB) Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | High |
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*Disclaimer: Major Players sorted in no particular order |
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Oriented Strand Board (OSB) Market Analysis
The oriented strand board (OSB) market is projected to register a CAGR of more than 4% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Owing to the pandemic scenario, the construction works were put on hold during the government-imposed lockdown, which led to a decrease in the consumption of oriented strand boards (OSB). However, construction related to the healthcare sector has increased significantly due to the pandemic situation, and considering the post-COVID scenario, the overall construction industry is picking up pace, which, in turn, stimulates the demand in the OSB market in the coming years.
- In the short term, the market is likely to grow because OSB has useful properties and is becoming more and more popular as a substitute for plywood.
- On the other hand, emissions of volatile organic compounds (VOCs) like formaldehyde are likely to slow the growth of the market that was looked at.
- Increasing applications of OSB in structural insulated panels and the recovering European construction industry are likely to act as opportunities in the future.
- North America dominated the market across the world, with the largest consumption coming from the United States.
