OSB market in Latin America and the Caribbean

Earlier Report Observations

From 2018, OSB production in Latin America and the Caribbean rose steadily, with market volume expanding from 724 thousand m³ in 2019 to 955 thousand m³ in 2021. This growth was driven by OSB's increasing adoption as a sustainable substitute for plywood in construction, supported by its desirable properties and the emphasis on energy efficiency. The COVID-19 pandemic in 2020, while disrupting global supply chains, accelerated the preference for eco-friendly materials and stimulated new infrastructure investments across the region.

After 2021, the market entered a contraction phase, declining to 909 thousand m³ in 2022 and 765 thousand m³ in 2023. This downturn was primarily linked to persistent volatility in raw material prices, especially wood and resins, along with tighter environmental regulations and anti-deforestation policies that constrained wood availability and raised production costs. Despite these headwinds, OSB continued to gain traction in dry construction and wood frame systems, and found new applications in furniture and packaging segments.

The period also saw increased regulatory focus on labeling and traceability for wood products, as well as the entry of new players and technological advances in manufacturing. These developments helped improve product quality, reduce costs, and expand production capacity, maintaining OSB's competitiveness in a fluctuating market environment.

Production OSB in Latin America and the Caribbean

In kind, 2017-2020, K m³

Top producers of OSB, 2017-2020

World map of production of OSB, 2017-2020

Latin America and the Caribbean saw OSB production volume rise for the second year in a row. In 2020, the region produced 679.5 K m³ of OSB, marking a 22.0% increase from the previous year. Production grew by 43.8% between 2017 and 2020, averaging an annual growth rate of 12.9%. The lowest production level was recorded in 2018 at 467.6 K m³, which also saw the largest decline of 1.1%.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, K m³

Exports OSB from Latin America and the Caribbean

Exports in kind, K m³

Market performance showed significant fluctuations during this period. Exports reached their lowest point in 2018 and peaked in 2017, with a 22-fold difference between these years. In 2020, OSB shipments from Latin America and the Caribbean to international markets totaled 214.4 K m³, representing a sharp increase of 120.7% compared to 2019. The minimum value was recorded in 2018 at 58.6 K m³, which also experienced the largest decline of 95.5%.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, K m³

From 2017 to 2020, the largest buyers of OSB from Latin America and the Caribbean were China (accounting for 30.2% of exports in kind), South Korea (6.2%), and Israel (4.4%). However, their combined share was limited to 40.8% of total exports in kind, indicating a diversified country structure.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Exports in value, K $ US

OSB exports from Latin America and the Caribbean declined for the second consecutive year. In 2020, exports amounted to 42 676 K $ US, reflecting a 1.0% decrease from the previous year. The highest value was recorded in 2018 at 47 959 K $ US, which also saw the largest increase of 10.6%. The largest decline occurred in 2019, with a drop of 10.1%.

Annual dynamics of product's exports from Latin America and the Caribbean in value, 2017-2020, K $ US

Between 2017 and 2020, the buyer portfolio for OSB from Latin America and the Caribbean was broad. China (30.4% of exports in value terms), South Korea (5.6%), and Israel (3.3%) together contributed only 39.3% of total exports in value terms, while numerous other countries held smaller but notable shares.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Imports OSB to Latin America and the Caribbean

Imports in kind, K m³

The market exhibited volatility over the observed period. Import volumes hit their lowest point in 2018 and peaked in 2020, with a 20-fold difference between these years. In 2020, OSB deliveries to Latin America and the Caribbean reached 437.4 K m³, up by 65.5% compared to 2019. The minimum value was recorded in 2018 at 22.1 K m³, which also saw the largest decline of 58.4%. The largest increase occurred in 2019, with a surge of 1 094.6%.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, K m³

From 2017 to 2020, the main sources for imports in kind were China (30.0% of imports in kind), the United States (16.7%), and Romania (8.1%). Together, these three countries accounted for 54.9% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Imports in value, K $ US

OSB imports into Latin America and the Caribbean fell for the second year in a row. In 2020, imports totaled 64 265 K $ US, representing a 16.0% decrease from 2019. Over the period from 2017 to 2020, imports decreased by 20.6%, with a compound annual growth rate of -7.4%. The maximum value was recorded in 2018 at 116 545 K $ US, which also experienced the largest increase of 44.0%. The largest decline occurred in 2019, with a drop of 34.4%.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, K $ US

Between 2017 and 2020, imports in value terms of OSB to Latin America and the Caribbean were not heavily concentrated. The United States (21.4% of imports in value terms), China (10.9%), and Romania (10.8%) together captured only 43.1% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in value, 2017-2020