Laminated Veneer Lumber (LVL)
LVL is a widely used structural composite lumber product. It is produced by bonding thin wood veneers together in a large billet so that the grain of all veneers is parallel to the long direction. The LVL billet is then sawn to desired dimensions depending on the end-use application. Because LVL is made with scarfed or lapped jointed veneers, LVL is available in lengths far beyond conventional lumber lengths.
Popular LVL applications include headers and beams, hip and valley rafters, scaffold planking, and the flange material for prefabricated wood I-joists.
Parallel Strand Lumber (PSL)
PSL is manufactured from veneers clipped into long strands laid in parallel formation and bonded together with an adhesive to form the finished structural section. The length-to-thickness ratio of the strands in PSL is around 300. Like LVL and glulam, this product is used for beam and header applications where high bending strength is needed. PSL is also frequently used as load-bearing columns.
Laminated Strand Lumber (LSL)
Similar to PSL, laminated strand lumber is made from flaked wood strands that have a length-to-thickness ratio of approximately 150. Combined with an adhesive, the strands are oriented and formed into a large mat or billet and pressed. LSL is used in a variety of applications from studs to millwork components.
Oriented Strand Lumber (OSL)
Similar to LSL, oriented strand lumber is also made from flaked wood strands. The strand geometry for OSL results in length-to-thickness ratios of approximately 75. Combined with an adhesive, the strands are oriented and formed into a large mat or billet and pressed. OSL is used in a variety of applications from studs to millwork components.
Source
https://www.apawood.org/structural-composite-lumber