CREOSOTE OIL MARKET ANALYSIS

Market Challenges And Opportunities

Market Dynamics 

• Increasing demand for creosote oil in the industrial sector is expanding its spectrum of application throughout industries such as paint, printing, and furniture. According to a study by the North Carolina State University in 2014, the home furniture market in the U.S. was expected to reach over US$ 85 billion by 2017. Environmental consciousness among the educated populace is increasing the demand for sustainable product, due to which wood furniture is gaining maximum preference over metal and plastic products. The study also stated that, in 2012, European Union imported around $ 4,122 million worth wood furniture products. Wood furniture manufacturers in China generated revenue of around US$ 100 billion in 2017, an increase by 12% from 2016.
• Wood preservation is a major application of creosote oil, as creosote oil treated wood is widely used in railroad sleepers, poles of electric or telephone lines. Coal tar is more efficient than wood tar for wood preservation.
• Properties of creosote oil vary depending on its source and application. Creosote oil derived from wood tar is used as a food preservation agent for meat. Coal tar creosote oil is toxic and hence is not used for medicinal purposes, however, widely used for preservation of wood and wooden furniture.
• Creosote oil is widely used in the printing industry for printing inks and carbon black
• Creosote oil is widely being adopted in the pharmaceutical industry, owing to its antiseptic, laxative anesthetic, expectorant, anti-acne, analgesic, anti-neuritic, and astringent properties. It can also be used as a protection from the sun.
• Creosote oil is not harmful to human health when it is properly disposed off. However, accidental spillage, misuse, and improper disposal may lead to potential hazards to human health like skin and eye irritation.