The North America Oriented Strand Board Market would witness market growth of 4.5% CAGR during the forecast period (2022-2028).
The resins used to make OSB have prompted concerns about the possibility of it emitting volatile organic compounds like formaldehyde. Urea-formaldehyde is more harmful than urea-formaldehyde and should be avoided in the house. Products containing phenol-formaldehyde are estimated to be relatively safer. Isocyanate resins, which do not incorporate formaldehyde and are deemed nonvolatile when cured, are used in some newer forms of OSB, referred to as new-generation OSB panels. Several manufacturers compound the wood chips with a variety of borate chemicals that are harmful to termites, wood-boring insects, molds, and fungi but not to mammals in low concentrations.
The OSB market is anticipated to benefit from a rise in the demand for rigid and strong structural wood-based panel products. OSB is used in the construction sector for floors, roofs, walls, doors, stairwells, columns, and beams. During the forecast period, this is likely to enhance demand for OSB. In recent years, the OSB market has grown dramatically.
The construction industry in this region is rapidly booming. According to the American General Contractors Association, the construction industry is a significant contribution to the US economy. The industry employs over 7.6 million people and produces approximately $1.4 trillion in construction each year. Manufacturing and mining along with a range of services include construction as one of their largest customers. The American General Contractors Association (AGC) has produced data on the role of construction in the economy as well as the employment in the United States, each state, and significant metro areas.
The US market dominated the North America Oriented Strand Board Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $8,964 million by 2028. The Canada market is anticipated to grow at a CAGR of 6.9% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 6% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Oriented Strand Board Market is Estimated to reach $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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