Building Boards to 2017

Published: April 2013
No. of Pages: 348

This study analyzes the US building boards industry. It presents historical demand data for the years 2002, 2007, and 2012, and forecasts for 2017 and 2022 by product (e.g., hardwood plywood, MDF, particleboard, softwood plywood), market (construction, manufacturing), application (e.g., cabinets, engineered wood products, furniture and fixtures, material handling equipment, roofing, subflooring, wall sheathing), and region. The study also considers market environment factors, details industry structure, evaluates company market share, and profiles industry players.

US building board demand to rise over 7% annually through 2017

Demand for building boards in the US is forecast to grow more than seven percent annually through 2017 to over 50 billion square feet, as measured on a 3/8 inch basis. Residential construction markets account for over four-fifths of building board demand, so increased construction activity due to the expected housing market rebound will spark gains for building boards. In particular, the housing market recovery will drive growth in demand for building boards in flooring and wall sheathing applications. Rising residential improvement and repair activity will also contribute to building board demand, though to a lesser extent than gains in the new residential market.

In manufacturing applications, building board demand gains are not projected to be as strong as those in construction applications. However, demand in this market will benefit from growth in domestic manufacturing activity as compared to the 2007-2012 period. Among the manufacturing markets, furniture and fixtures and engineered wood products are expected to post the fastest gains in building board demand. Demand in furniture and fixture applications will benefit from heightened wood furniture shipments, which are forecast to increase nearly five percent annually through 2017. Engineered wood products, such as I-joists, will also register increased demand due to the expected housing market recovery, thus raising demand for building boards used in their manufacture.

OSB to outpace softwood plywood structural boards

Of all of the board products, softwood plywood and oriented strand board (OSB) account for the largest portion of demand. Both products are structural boards, meaning they are approved for use in structural applications such as floor and wall sheathing. Through 2017, OSB is forecast to see much more rapid gains in demand than those in softwood plywood. In 1992, OSB was certified by all model building codes in the US to perform as well as softwood plywood on a thickness by- thickness basis. Since that time, OSB has increasingly gained market share from softwood plywood in construction markets, as it offers the same performance characteristics but at a lower price point. This trend is expected to continue through 2017.

Insulation board, particleboard to pace nonstructural board products

Nonstructural board products include particleboard, medium density fiberboard (MDF), hardwood plywood, hardboard, insulation board, and other fiberboard products. Through 2017, rapid growth is expected in insulation board products, as these products are used frequently in roof and wall sheathing applications and will benefit from the expected housing market recovery. However, insulation board is projected to continue to account for only a small portion of overall nonstructural board demand through 2017. Particleboard is also forecast to exhibit strong demand gains through 2017. Utilized frequently in manufacturing applications including furniture and fixtures and transportation equipment, particleboard demand will benefit from the expected rise in general manufacturing activity.

Company Profiles

Company Profiles for 28 competitors in the US industry such as Georgia-Pacific (Koch Industries), Louisiana-Pacific, International Paper, Norbord, Roseburg Forest Products, and Weyerhaeuser

Additional Information

This study examines the US market for building boards, including structural boards (oriented strand board and softwood plywood) and nonstructural boards (hardboard, hardwood plywood, insulation board, medium density fiberboard, particleboard, and other fiberboard). Markets for these products encompass a wide range of construction uses (e.g., roofing, wall sheathing, flooring, siding, cabinets), as well as various manufacturing applications (e.g., furniture and fixtures, engineered wood products, transportation equipment, material handling products). In addition to providing building board demand by product type and market, the study also discusses demand by US region.

Historical data for 2002, 2007, and 2012 and forecasts to the years 2017 and 2012 are provided for building board shipments and demand in square feet and current dollars. Data in square feet are actually volumetric measurements, since the various types of building boards are each associated with a standard thickness. These standard thicknesses (as most commonly accepted within the industry) are 1/8 inch for hardboard; 3/8 inch for oriented strand board and softwood plywood; 1/2 inch for insulation board and other fiberboard; and 3/4 inch for particleboard, hardwood plywood, and medium density fiberboard. Data for each board type are provided in terms of that product’s standard thickness. In order to improve the comparability of building board demand in volume terms across different board types, data are converted to a 3/8 inch basis. These measures are used in the market and regional sections, as well as for product aggregations in the product sections. Unless another thickness is specified, square feet measurements in the study are on a 3/8 inch basis.

Some of the components in the tables may not add to the totals because of rounding. The term “demand” -- used interchangeably with “market,” “sales,” and “consumption -- is defined as all shipments from US plants, plus imports, minus exports. In addition to providing a market outlook, the study also identifies and profiles the major industry participants and discusses key strategic competitive variables.

Throughout the study, demand is related to various indicators in the tables (e.g., gross domestic product, construction expenditures). The macroeconomic indicators used in this study were obtained from The Freedonia Group Consensus Forecasts dated February 2013. Because of the Bureau of Economic Analysis’ use of chain-weighted prices indexes, inflation-adjusted Gross Domestic Product components (2005 dollars) do not necessarily add to the total.

Building Boards to 2017

Table Of Contents

Introduction X

I. Executive Summary 1

II. Market Environment 4
General 4
Macroeconomic Environment 5
Consumer Income & Spending 9
Personal Income & Expenditures 9
Consumer Financing 12
Demographic Trends 15
Population 17
Households 19
Building Construction Trends 20
Residential Construction 22
Housing Starts 25
Housing Stock 30
Improvements & Repairs 34
Nonresidential Construction 36
Nonresidential Construction Outlook 36
Nonresidential Building Stock 39
Manufacturing Outlook 41
Historical Market Trends 44
Pricing Patterns 48
Regulatory Environment 52
Timber Harvesting Restrictions 52
Emissions Regulations 54
Building Codes 56
World Building Board Overview 57
Us Foreign Trade 59
Imports 60
Exports 63

III. Overview 66
General 66
Volume Outlook 69
Value Outlook 73

IV. Structural Boards 75
General 75
Supply & Demand 77
Oriented Strand Board 80
OSB Supply & Demand 81
OSB Markets 84
OSB Capacity 87
Softwood Plywood 89
Softwood Plywood Supply & Demand 90
Softwood Plywood Markets 91
Softwood Plywood Capacity 95

V. Nonstructural Boards 98
General 98
Supply & Demand 99
Particleboard 102
Particleboard Supply & Demand 103
Particleboard Markets 105
Particleboard Capacity 109
Medium Density Fiberboard 110
MDF Supply & Demand 113
MDF Markets 114
MDF Capacity 118
Hardwood Plywood 119
Hardwood Plywood Supply & Demand 121
Hardwood Plywood Markets 122
Hardwood Plywood Capacity 126
Hardboard 127
Hardboard Supply & Demand 129
Hardboard Markets 130
Hardboard Capacity 133
Insulation Board 134
Insulation Board Supply & Demand 135
Insulation Board Markets 136
Insulation Board Capacity 140
Other Fiberboard 141
Other Fiberboard Supply & Demand 142
Other Fiberboard Markets 143
Other Fiberboard Capacity 145

VI. Markets 146
General 146
Construction Markets By Application 148
Roofing 151
Subflooring 155
Wall Sheathing 157
Cabinets 160
Finish Flooring 164
Siding 166
Windows & Doors 170
Interior Paneling 173
Other Construction Applications 176
Construction Markets By End Use 178
Residential 180
Conventional Housing 182
Manufactured Housing 182
New Construction 183
Improvement & Repair 184
Nonresidential 184
Office & Commercial 186
Institutional 187
Industrial 187
Other Nonresidential Building Construction 187
New Construction 188
Improvement & Repair 188
Manufacturing Markets 189
Furniture & Fixtures 191
Transportation Equipment 197
Engineered Wood Products 199
Material Handling Equipment 202
Other Manufacturing 205

VII. Regions 208
General 208
Regional Demographic & Economic Trends 209
Population Patterns 210
Economic Outlook 213
Construction Activity 216
Housing Trends 219
Regional Demand For Building Board Products 222
Northeast 224
New England 227
Middle Atlantic 228
Midwest 229
East North Central 233
West North Central 234
South 235
South Atlantic 238
East South Central 240
West South Central 241
West 242
Mountain 245
Pacific 246

VIII. Industry Structure 249
General 249
Industry Composition 250
Market Share 254
Vertical & Horizontal Integration 259
Product Development 261
Manufacturing 263
Marketing 265
Distribution 268
Mergers & Acquisitions 269
Cooperative Agreements 272
Company Profiles 275
Ainsworth Lumber Company Limited 276
Blue Ridge Fiberboard Incorporated 279
Boise Cascade Holdings LLC 281 Cabinotch, See Columbia Forest Products Canfor Corporation 283
Celulosa Arauco Y Constitución Sa 285
Collins Companies Incorporated 290
Columbia Forest Products Incorporated 292
Flakeboard, See Celulosa Arauco Y Constitución Georgia-Pacific, See Koch Industries Hood Companies 297
Hoover Treated Wood Products Incorporated 299
Huber (JM) Corporation 301
Hunt Forest Products Incorporated 304
International Paper Company 305
Knight-Celotex, See Blue Ridge Fiberboard Koch Industries Incorporated 310
Louisiana-Pacific Corporation 314
Martco, See Martin (Roy O.) Lumber Martin (Roy O.) Lumber Company LLC 318
Mcewen Group, See Hood Companies Norbord Incorporated 321
Plum Creek Timber Company Incorporated 324
Potlatch Corporation 326
Rosboro Lumber Company 328
Roseburg Forest Products Company 330
Scotch Plywood Company Incorporated 334
Sierrapine Limited 335
Stimson Lumber Company Incorporated 338
Temple-Inland, See International Paper Timber Products Company 339
Tolko Industries Limited 342
Washington Hardwoods, See Rosboro Lumber Westlam Industries Limited 344
Weyerhaeuser Company 346

List Of Tables

Section I -- Executive Summary
Summary Table 3

Section II -- Market Environment
1 Macroeconomic Indicators 8
2 Personal Consumption Expenditures 11
3 Consumer Financing Environment, 2002-2012 15
4 Population & Households 16
5 Building Construction Expenditures 22
6 Residential Building Construction Expenditures 25
7 New Housing Indicators 30
8 Housing Stock By Type 33
9 Residential Improvement & Repair Expenditures 35
10 Nonresidential Building Construction Expenditures 38
11 Nonresidential Building Stock 41
12 Manufacturers’ Shipments 44
13 Building Board Market Trends 47
14 Building Board Pricing Trends 51
15 Building Board Foreign Trade 60

Section III -- Overview
1 Building Board Supply & Demand By Area 72
2 Building Board Supply & Demand By Value 74

Section IV -- Structural Boards
1 Structural Board Supply & Demand 79
2 Oriented Strand Board Supply & Demand 84
3 Oriented Strand Board Demand By Market 86
4 Oriented Strand Board Domestic Capacity By Producer, 2012 88
5 Softwood Plywood Supply & Demand 91
6 Softwood Plywood Demand By Market 94
7 Softwood Plywood Domestic Capacity By Producer, 2012 97

Section V -- Nonstructural Boards
1 Nonstructural Board Supply & Demand 101
2 Particleboard Supply & Demand 105
3 Particleboard Demand By Market 108
4 Particleboard Domestic Capacity By Producer, 2012 110
5 Medium Density Fiberboard Supply & Demand 114
6 Medium Density Fiberboard Demand By Market 118
7 Medium Density Fiberboard Domestic Capacity By Producer, 2012 119
8 Hardwood Plywood Supply & Demand 122
9 Hardwood Plywood Demand By Market 125
10 Hardwood Plywood Domestic Capacity By Producer, 2012 127
11 Hardboard Supply & Demand 129
12 Hardboard Demand By Market 132
13 Hardboard Domestic Capacity By Producer, 2012 134
14 Insulation Board Supply & Demand 136
15 Insulation Board Demand By Market 139
16 Insulation Board Domestic Capacity By Producer, 2012 141
17 Other Fiberboard Supply & Demand 143
18 Other Fiberboard Demand By Market 145

Section VI -- Markets
1 Demand For Building Boards By Market 148
2 Construction Markets For Building Boards By Application 150
3 Roofing Market For Building Boards By Product 153
4 Subflooring Market For Building Boards By Product 156
5 Wall Sheathing Market For Building Boards By Product 159
6 Cabinet Market For Building Boards By Product 162
7 Finish Flooring Market For Building Boards By Product 165
8 Siding Market For Building Boards By Product 169
9 Window & Door Market For Building Boards By Product 172
10 Interior Paneling Market For Building Boards By Product 175
11 Other Construction Markets For Building Boards By Product 177
12 Construction Markets For Building Boards By End Use 180
13 Residential Market For Building Boards By Housing Type & Segment 181
14 Nonresidential Market For Building Boards By Building Type & Segment 186
15 Manufacturing Markets For Building Boards By Application 191
16 Furniture Shipments 194
17 Furniture & Fixture Market For Building Boards By Product 196
18 Transportation Equipment Market For Building Boards By Product 199
19 Engineered Wood Market For Building Boards By Product 202
20 Material Handling Market For Building Boards By Product 205
21 Other Manufacturing Markets For Building Boards By Product 207

Section VII -- Regions
1 Population By Region 213
2 Gross Domestic Product By Region 216
3 Construction Expenditures By Region 218
4 Regional Housing Indicators 221
5 Building Board Demand By Region 223
6 Northeast Demand For Building Boards By Subregion & Product 227
7 Midwest Demand For Building Boards By Subregion & Product 233
8 South Demand For Building Boards By Subregion & Product 238
9 West Demand For Building Boards By Subregion & Product 245

Section VIII -- Industry Structure
1 Us Building Board Revenues For Selected Companies, 2012 253
2 Selected Acquisitions & Divestitures 271
3 Selected Cooperative Agreements 274

List Of Charts

Section II -- Market Environment
1 Year Of Construction Of Housing Stock, 2012 33
2 Building Board Market Trends, 2003-2012 48
3 Building Board Pricing Trends, 2002-2012 52
4 Building Board Imports By Product Type, 2012 63
5 Building Board Exports By Product Type, 2012 65

Section III -- Overview
1 Building Board Demand By Product Segment, 2002-2022 72
2 Us Building Board Supply & Demand By Value, 2002-2022 74

Section IV -- Structural Boards
1 Structural Board Demand By Product, 2002-2022 80
2 Construction Markets For Oriented Strand Board, 2012 87
3 Construction Markets For Softwood Plywood, 2012 95

Section V -- Nonstructural Boards
1 Nonstructural Board Demand By Product, 2012 102
2 Construction Markets For Particleboard, 2012 109
3 Construction Markets For Hardwood Plywood, 2012 126
4 Construction Markets For Hardboard, 2012 133
5 Construction Markets For Insulation Board, 2012 140

Section VI -- Markets
1 Building Board Construction Markets By Application, 2012 151
2 Furniture & Fixture Market For Building Boards By Product, 2012 197

Section VII -- Regions
1 Building Board Demand By Region, 2012 224

Section VIII -- Industry Structure
1 Building Board Market Share, 2012 255

Published By: Freedonia Group
Product Code: Freedonia Group215

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