Study #: 3905 | Published: 12/2020 | Pages: 69 | Individual User License: US$ 2,900

Demand for OSB wood panels is forecast to increase 1.0% annually through 2024 to 21.4 million square feet, as measured on a 3/8 inch basis. OSB wood panel demand is expected to drop significantly in 2020 due to the COVID-19 pandemic, which is forecast to cause:

  • a decline in new home construction
  • a heavy drop in commercial construction as many businesses are forced to shut down or operate at reduced capacities
  • a fall in the production engineered wood products

However, demand will return to growth beginning in 2021 and continue to expand through 2024, driven by growth in new single-family home construction and rising spending on home renovation projects.

Subflooring & Roofing to Drive OSB Demand Gains

Roofing and subflooring will remain the leading applications for OSB panels, accounting for almost two-thirds of demand gains through 2024:

  • OSB will continue to be the dominant wood panel subflooring material because it offers advantages such as higher rigidity and increased resistance to splitting and delamination.
  • OSB demand in roofing applications is forecast to rise as the product continues to take share from softwood plywood because of its lower cost.

OSB To Gain Share in Engineered Wood & Finish Flooring Products

OSB is heavily used in engineered wood applications such as I-joists and rim boards, as the material offers such performance benefits as durability and versatility. Demand for OSB in engineered wood products is forecast to grow at an above average pace as OSB takes share from medium density fiberboard and particleboard on the strength of its significantly lower cost.

Although from a small base, finish flooring will be the fastest growing application for OSB. Engineered wood flooring is increasingly being installed in residences and other areas where hard surface flooring is becoming more desirable, as it has better aesthetics than many LVT and laminate products but is less expensive and has better performance than natural wood.

OSB Industry to Remain Heavily Concentrated

In 2019, the top six suppliers of OSB to the US accounted for over 75% of demand and an even greater amount of US production of these products. The leading manufacturers have extensive resources devoted to product development, manufacturing techniques, marketing, and distribution. However, weakness in the OSB market in late 2019 and 2020 has led some major manufacturers – including Georgia-Pacific, Louisiana Pacific, and Norbord to cut back on production.


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Table of Contents

1. Executive Summary

2. About This Report

Report Details

Study Scope & Product Description

Impact of COVID-19 Pandemic

3. Overview

Historical Market Trends

Supply & Demand

Demand Drivers & Restraints

Pricing Trends

New Product Development

Competitive Products

4. Markets

Demand by Market

Construction Markets

Roofing & Siding

Flooring

Wall Sheathing

Industrial Market

5. Key Suppliers & Market Share

Industry Composition

Capacity & Leading Producers

Market Share

6. Appendix

Scope

Definitions

Freedonia Methodology

Study-Specific Methodology

Sources

Associations & Agencies

Related Studies & Reports

Macroeconomic Assumptions

Economic Environment

Demographic Trends

Residential Building Construction

Residential Improvements & Repairs

Commercial Building Construction

Commercial Building Improvements & Repairs

Manufacturers' Shipments


List of Tables

3. Overview

Table 3-1 | Oriented Strand Board Demand, 2009 - 2019 (million dollars & million square feet)

Table 3-2 | OSB Supply & Demand, 2009 - 2029 (million square feet - 3/8-inch basis)

4. Markets

Table 4-1 | OSB Demand by Market, 2009 - 2029 (million square feet - 3/8-inch basis)

Table 4-2 | Construction Market for OSB, 2009 - 2029 (million square feet - 3/8-inch basis)

Table 4-3 | OSB Demand in Roofing & Siding, 2009 - 2029 (million square feet - 3/8-inch basis)

Table 4-4 | OSB Demand in Flooring, 2009 - 2029 (million square feet - 3/8-inch basis)

Table 4-5 | Industrial Market for OSB, 2009 - 2025 (million square feet - 3/8-inch basis)

5. Key Suppliers & Market Share

Table 5-1 | US OSB Production Capacity, 2019 (million square feet)

6. Appendix

Table 6-1 | Relevant Industry Codes

Table 6-2 | Relevant HS Codes

Table 6-3 | Macroeconomic Indicators, 2009 - 2029 (billion 2012 dollars)

Table 6-4 | Population & Households, 2009 - 2029 (million persons)

Table 6-5 | Residential Building Construction Expenditures, 2009 - 2029 (billion 2012 dollars & billion dollars)

Table 6-6 | Residential Improvement & Repair Expenditures, 2009 - 2029 (billion 2012 dollars & billion dollars)

Table 6-7 | Commercial Building Construction Expenditures, 2009 - 2029 (billion 2012 dollars & billion dollars)

Table 6-8 | Commercial Building Improvement & Repair Expenditures, 2009 - 2029 (billion 2012 dollars & billion dollars)

Table 6-9 | Manufacturers' Shipments, 2009 - 2029 (billion 2012 dollars & billion dollars)


List of Figures

1. Executive Summary

Figure 1-1 | OSB Wood Panel Market Overview

2. About This Report

Figure 2-1 | Oriented Strand Board (OSB): Product Examples

3. Overview

Figure 3-1 | Oriented Strand Board Demand, 2009 - 2019 (million square feet)

Figure 3-2 | Oriented Strand Board Average Price, 2009 - 2024 (dollars per thousand square meters)

Figure 3-3 | Oriented Strand Board Competitive Products

4. Markets

Figure 4-1 | OSB Demand by Market, 2009-2024 (million square feet)

Figure 4-2 | Construction Market for OSB, 2009 - 2029 (million square feet - 3/8-inch basis)

Figure 4-3 | Industrial Market for OSB, 2009 - 2025 (million square feet - 3/8-inch basis)

5. Key Suppliers & Market Share

Figure 5-1 | US Oriented Strand Board Market Share by Company, 2019 (billion dollars)

6. Appendix

Figure 6-1 | Annual Growth in Real GDP, 2000 - 2019, Compared to 1980 - 2005 Average (percent)

Figure 6-2 | Annual Population Growth, 2004 - 2019 (percent)


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