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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)
© by The Freedonia Group, a division of MarketResearch.com