By: The Working Forest Staff
IndexBox has just published a new report: ‘U.S. – Oriented Strand Board (Osb) – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.
The revenue of the oriented strandboard (OSB) market in the U.S. amounted to $9.8B in 2018, going down -4.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price).
Production in the U.S.
In 2018, the amount of OSB produced in the U.S. stood at 13M cubic meters, rising by 3.5% against the previous year. Overall, oriented strandboard production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 13% y-o-y. OSB production peaked at 15M cubic meters in 2007; however, from 2008 to 2018, production remained at a lower figure.
Exports from the U.S.
In 2018, the OSB exports from the U.S. amounted to 75K cubic meters, picking up by 4.6% against the previous year. In general, oriented strandboard exports, however, continue to indicate an abrupt decrease.
In value terms, exports stood at $58M (IndexBox estimates) in 2018. Over the period under review, OSB exports, however, continue to indicate a decline. The most prominent rate of growth was recorded in 2010 with an increase of 67% y-o-y.
Exports by Country
Canada (81K cubic meters), Mexico (58K cubic meters) and South Korea (14K cubic meters) were the main destinations of oriented strandboard exports from the U.S.
From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main countries of destination, was attained by Mexico, while exports for the other leaders experienced more modest paces of growth.
In value terms, Canada ($40M) remains the key foreign market for oriented strandboard (osb) exports from the U.S., comprising 69% of total oriented strandboard (osb) exports. The second position in the ranking was occupied by Mexico ($15M), with a 25% share of total exports. It was followed by South Korea, with a 6.7% share.
From 2007 to 2018, the average annual growth rate of value to Canada amounted to +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+8.8% per year) and South Korea (-1.8% per year).
Export Prices by Country
The average OSB export price stood at $775 per cubic meter in 2018, going down by -6.8% against the previous year.
There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was Canada ($491 per cubic meter), while the average price for exports to Chile ($194 per cubic meter) was amongst the lowest.
From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Canada, while the prices for the other major destinations experienced more modest paces of growth.
Imports into the U.S.
In 2018, approx. 5.5M cubic meters of OSB were imported into the U.S.; dropping by -9.9% against the previous year. Overall, oriented strandboard imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2012 with an increase of 71% y-o-y. Imports peaked at 6.1M cubic meters in 2017, and then declined slightly in the following year.
In value terms, OSB imports amounted to $1.7B (IndexBox estimates) in 2018. Over the period under review, oriented strandboard (osb) imports continue to indicate a strong increase. The growth pace was the most rapid in 2012 with an increase of 50% year-to-year. Imports peaked in 2018 and are likely to see steady growth in the immediate term.
Imports by Country
In 2018, Canada (5.5M cubic meters) was the main supplier of oriented strandboard to the U.S., accounting for a approx. 100% share of total imports.
The average oriented strandboard import price amounted to $300 per cubic meter, increasing by 26% against the previous year. In general, the import price indicated a strong increase from 2007 to 2018: its price increased at an average annual rate of +4.4% over the last eleven-year period.
Source: IndexBox AI Platform