Global Oriented Strand Board (OSB) Market to Reach $50.6 Billion by 2030
The global market for Oriented Strand Board (OSB) estimated at US$21.7 Billion in the year 2023, is projected to reach a revised size of US$50.6 Billion by 2030, growing at a CAGR of 11.2% over the analysis period 2023-2030.
The recovery in the construction sector is expected to fuel the growth of the oriented strand boards (OSB) market. Economic volatility and dynamics in the construction market are reshaping growth patterns in the building materials sector, with planned construction projects emerging as a bright spot in 2023. In the competitive landscape, OSB holds a significant market share, with players categorized based on their market presence. The global OSB market is poised for rapid growth, driven by a myriad of applications, particularly in the construction sector.
Oriented Strand Board (OSB) / 1, one of the segments analyzed in the report, is projected to record 9.5% CAGR and reach US$19.3 Billion by the end of the analysis period. Growth in the Oriented Strand Board (OSB) / 2 segment is estimated at 11% CAGR for the next 8-year period.
The U.S. Market is Estimated at $6.7 Billion, While China is Forecast to Grow at 15.4% CAGR
North America and Europe lead the global OSB market, with OSB Grade 1 being the most widely used grade type. This growth is supported by global construction spending trends, which are projected to increase steadily over the coming years.
The Oriented Strand Board (OSB) market in the U.S. is estimated at US$6.7 Billion in the year 2023. China, the world’s second largest economy, is forecast to reach a projected market size of US$11 Billion by the year 2030 trailing a CAGR of 15.4% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.5% and 9.8% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 8.9% CAGR.
Key Attributes:
| Report Attribute | Details |
|---|---|
| No. of Pages | 390 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $21.7 Billion |
| Forecasted Market Value (USD) by 2030 | $50.6 Billion |
| Compound Annual Growth Rate | 11.2% |
| Regions Covered | Global |
For more information on the report please visit: Market Reports