Wood Panels in the last few years have gained mileage as preferred materials used for decorative purposes in claddings, floorings, roof sheathing, internal linings, ceilings and construction purposes. Diverse types of wood based panels are accessible for interior and exterior treatments. Wood panels find extensive application in the construction sector, which accounts for over 60% of consumption. Use of panels in cabinets, doors and windows witnessed robust growth until 2008. However, slowdown in construction activity and challenging economic conditions, particularly in the US and Europe tempered growth in the industry. The demand for OSB (Oriented Strand Board) is witnessing an upward inclining growth curve, the world over. Its acceptance in various industries as an effective substitute for plywood has managed to gain ground in the places that plywood lost out.