The Asia Pacific Oriented Strand Board Market would witness market growth of 6.2% CAGR during the forecast period (2022-2028).
Oriented strand board has been one of the most widely utilized engineered timber-based panels for structural building in various nations. The number of OSB mills throughout the world has increased by a significant rate in recent years. Forest products firms are leveraging raw materials more efficiently and in more environmentally responsible ways with the advent of the latest, advanced, and improved technologies. Engineered wood composite products, such as OSB, have earned a large position in the industry as a result of this approach to forest management. OSB production could rise in the future as plywood production declines in several nations due to limited availability of logs of all sizes, and environmental concerns. OSB output is likely to continue to rise with the structural wood composite industry dominated by OSB.
Countries across this region are rapidly developing. According to the Development Commissioner’s Ministry of Micro, Small, and Medium Enterprises, in India, there are over 20,000 authorized MSMEs Wooden Furniture manufacturing businesses, from which, 96% are Micro businesses, 3.7 percent are Small businesses, and only 0.3 percent are Medium businesses. There may be a greater number of unregistered micro units than registered micro-units. India's office furniture market was expected to reach $ 13.58 billion by 2021, representing a compound annual growth rate of more than 20% in the coming years. The furniture market in India is dominated by local Micro & Small businesses. The involvement of major players in the Indian furniture business is increasing. With the advent of multinational furniture players, like IKEA, into India in recent years, organized players' market share has accelerated.
The China market dominated the Asia Pacific Oriented Strand Board Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,987.4 million by 2028. The Japan market is experiencing a CAGR of 5.5% during (2022 - 2028). Additionally, The India market would showcase a CAGR of 6.8% during (2022 - 2028).
Based on Application, the market is segmented into Construction, Furniture, Flooring, Packaging, and Others. Based on Grade, the market is segmented into OSB/3, OSB/4, OSB/2, and OSB/1. Based on End User, the market is segmented into Residential and Non-Residential. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Oriented Strand Board Market is Projected to reach USD 36.6 Billion by 2028, at a CAGR of 5.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include West Fraser Timber Co. Ltd., Louisiana-Pacific Corporation, Coillte, Egger Holzwerkstoffe GmbH, Arbec Forest Products, Inc., RoyOMartin, Georgia-Pacific LLC, Huber Engineered Woods LLC, Kronoplus Limited, and SWISS KRONO Group.
By Application
By Grade
By End User
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