- Market Size - USD 14.84 Billion in 2019, Market Growth - CAGR of 14.1%, Market Trends - High demand in the packaging sector
- Increasing demand from the construction sector for high strength components is driving the demand for the market.
NEW YORK, Sept. 17, 2020 /PRNewswire/ -- The Global Oriented Strand Board (OSB) Market is projected to reach USD 42.89 billion in 2027. The rising commodity penetration in residential and company construction is anticipated to propel industry development as a result of superior aesthetics. Due to the cyclical nature of residential construction, the industry has seen extreme fluctuations in supply and demand. Stock prices are highly influenced by manufacturers in the OSB industry because the raw materials account for a significant proportion of the overall manufacturing cost of directed panels.
Green building materials are expected to have a positive impact on product demand with an increased preference in the construction industry because of its low emission rates. The oriented strand board is exempt from formaldehyde regulation. Furthermore, less wood wastage would be one of the main driving factors for the sector over the projected timeframe in OSB manufacturing.
The construction industry is projected to continue rising at a substantial pace over the forecast period due to low mortgage rates and an increasing population and per capita revenue. The product has high demand as it is a more efficient alternative to plywood and traditional lumbar. The superior quality of the market product will propel its demand in the construction industry.
Request free sample of this research report at: https://www.reportsanddata.com/sample-enquiry-form/3574
Raw material price fluctuations may limit the market growth. Remarkable volatility in wood prices is expected to impede growth due to weather conditions. Furthermore, the price volatility of adhesive and resin products used for production is also expected to curb growth due to fluctuations in crude oil prices. The COVID-19 pandemic outbreak has added to the existing problems with the lack of skilled labor and is hindering the market's growth to a certain extent.
COVID-19 Impact Analysis
The COVID-19 pandemic is expected to affect the sector's growth to some extent in the coming years. Key players in the industry are skeptical about the future of the market and are trying to redesign their sustainability strategies to face this challenge. The pandemic had a severe impact on the construction sector, and most of the major manufacturers were forced to stop both production and other operations. Lack of resources in many parts of the world has been triggered by frequent lockdowns. The international commercial, export, and import were affected by COVID-19, which led to a significant reduction in demand for the industry. The leading enterprises operating in the market are attempting to clear their stocks and focus on keeping their cash balances. The real discretionary income of consumers will possibly decline, and manufacturers are seeking to find creative ways to satisfy consumer demands at considerably reduced prices.
To identify the key trends in the industry, click on the link below:
Further key findings from the report suggest
The extensive product use in roofing, floor sheathing, and other construction applications is boosting the growth of the globally-oriented strand board market.
Terahertz technology is expected to aid in the manufacture of advanced-grade products in terms of moisture and wood density calculation.
Increased imports and exports worldwide are expected to create massive packaging demand.
North America was the biggest regional market and is expected to dominate the industry over the projected years because of increased residential construction.
In July 2019, Swiss Krono agreed to create the largest woodworking plant to manufacture a focused board in Sharya. The plant will be manufacturing more than 600K cubic meters of OSB and particle panels annually from 2021 to 2022.
Key players in the market include Norbond Inc., Kronospan Ltd, Louisiana-Pacific Corporation, Weyerhaeuser Company, Georgia-Pacific, Huber Engineered Woods LLC, Sonae Arauco, Arbec Forest Products Inc., Ainsworth Lumber Co. Ltd., and Swiss Krono Group, among others.
For the purpose of this report, Reports and Data has segmented into the Global Oriented Strand Board Market on the basis of grade, distribution channel, application, and region:
Grade Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
Distribution Channel Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
Middle East & Africa
Have a Look at Similar Research Reports:
Gastrointestinal Stents Market - The global gastrointestinal (GI) stents market size was valued at USD 364.42 million in 2019 is estimated to surpass the valuation of USD 520.93 million, delivering a CAGR of nearly 5% through 2027.
Ethyl Polysilicate Market - he Global Ethyl Polysilicate Market is estimated to garner a valuation of USD 720 million by 2027 from USD 529.77 million in 2019, delivering a CAGR of around 3.7% through the forecast period.
DeNOx Catalyst Market - Тhе Glоbаl DеNОх Саtаlуѕt Mаrkеt size іѕ рrојесtеd tо amount to UЅD 1.90 billion іn 2019 and tо surpass UЅD 2.32 billion bу 2027, registering а САGR оf 2.8% through the forecast period.
UV Offset Inks Market - The UV offset inks market is expected to grow at a CAGR of around 13% during the forecast period to reach USD 8.93 billion by 2027 from USD 3.36 billion in 2019. Major factors driving the market studied are high demand for digital printing from the packaging sector and high demand from the packaging sector.
Decabromodiphenyl Ethane Market - The Global Decabromodiphenyl Ethane Market is estimated to garner a valuation of USD 1.43 billion by 2027 from USD 772.15 million in 2019, delivering a CAGR of around 7.3% through the forecast period.
Anti-Icing Coating Market - The anti-icing coating market size was estimated to be USD 527.97 million in 2019 and is projected to surpass USD 3.06 billion by 2027, growing at a CAGR of 24.7% over the forecast period.
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
LinkedIn | Twitter | Blogs
Read full Press Release at: https://www.reportsanddata.com/press-release/global-oriented-strand-board-osb-market
SOURCE Reports And Data