Like other composite lumber products, particleboard consist of small pieces of lumber bound or "laminated" with adhesives. On the scale of wood material size, particleboard rests between fiberboard and strand board. Fiberboard typically consists of the finest material: separated wood fibers. Layers of large, overlapping wood chips form the structure of oriented strand-board, or OSB. Between them is particleboard, usually composed of either sawdust or wood shavings.
Particleboard designations begin with one or more letters followed by a hyphen. The majority of the letters represent the particleboard's density. In M-S particleboard, the M stands for medium density. Other common letters include H for high-density and L for low-density. The character following the hyphen represents the particleboard's grade. Grades are generally numbers that correlate to strength; larger numbers represent stronger particleboard. The original designations were M-1, M-2 and M-3. However, the need for additional designation arose after the establishment of the standards. An S represents this "special" grade, as in M-S particleboard. M-S particleboard sits between M-1 and M-2.
All grades of particleboard are available with either interior or exterior glue. While exterior glue is more durable than interior glue, the term "exterior" is not meant to imply that the particleboard is suitable for prolonged, direct exposure to exterior conditions. However, M-S particle board with exterior glue is suitable for several exterior applications. In most applications, the M-S exterior glue particleboard sits beneath a well-sealed, exterior wall covering material.
M-S exterior glue particleboard applies to several interior and exterior construction projects. Depending on local building codes, this type of particleboard might qualify for use as an exterior wall sheathing. Interior applications include wall coverings and, occasionally, subfloor material. However, an exterior glue rating isn't required for interior applications, so you can reduce materials costs by purchasing a particleboard with interior glue. Under exterior conditions, M-S particleboard benefits from comprehensive sealing and waterproofing, such as several coats of exterior primer and paint.