Portland, OR, June 20, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global oriented strand board market generated $25.6 billion in 2020, and is expected to reach $44.3 billion by 2030, manifesting a CAGR of 5.4% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Increase in demand for eco-friendly and sustainable products in developed countries and the growth of the construction industry drive the growth of the global oriented strand board market. However, fluctuations in raw material prices restrain the market growth. On the other hand, rise in urbanization in major cities in Asia-Pacific and LAMEA region present new opportunities in the coming years.
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Covid-19 Scenario:
- Production facilities of oriented strand board were stopped partially or completely due to lockdown measures, lack of availability of workforce, and disrupted supply chain. The production volumes were lowered down during the Covid-19 pandemic.
- The demand from the construction sector reduced considerably as residential and commercial construction activities were stopped due to lockdown. However, the demand is expected to recover post-lockdown.
The report offers detailed segmentation of the global oriented strand board market based on grade, application, end users, and region.
Based on grade, the OSB/3 segment held the largest share in 2020, accounting for nearly two-fifths of the global oriented strand board market. However, the OSB/4 segment is estimated to witness the fastest CAGR of 6.2% during the forecast period.
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Based on end user, the residential segment contributed to the highest share in 2020, accounting for nearly two-thirds of the total market share, and is estimated to maintain its dominant share by 2030. However, the non-residential segment is projected to manifest the highest CAGR of 5.7% from 2021 to 2030.
Based on region, North America accounted for the highest share in 2020, contributing to more than three-fifths of the total market share, and is projected to continue its leadership status by 2030. However, LAMEA is projected to portray the largest CAGR of 9.7% during the forecast period.
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Leading players of the global oriented strand board market analyzed in the research include Coillte, Koch Industries, Egger Hozwerkstoffe GmbH, Louisiana Pacific Corporation, Kronospan Ltd., Swiss Krono Group, West Fraser, Tolko Industries, Sonae Industria, and Weyerhaeuser.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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