Creosote Oil Market Industry Analysis 2018- 2026 BY Top Vendors Cooper Creek, ArcelorMittal S.A., Mitsubishi Chemical, RUTGERS Group, Sandvik Materials Technology, Epsilon Carbon, Himadri Chemicals & Industries, JFE Chemical Corporation, Stella- Jones, KM

Creosote oil is produced from distillation of tar and pyrolysis of plant sourced products such as wood or fossil fuel. It is extensively used for oil paint, wood aseptic, carbon black, printing ink, latex filling, and pharmaceuticals. It can be classified depending upon the source from which it is derived such as wood, coal and/or creosote bush. Creosote oil is widely used as a remedy against diabetes, hemorrhoids, tooth decay, gallstones, kidney stones, acne and pimples, wounds, and body pain. Other applications of creosote oil include food preservation and fuel for lighting lamps. Creosote oil derived from creosote bush has different compounds and nutrients with medicinal value due to its high antioxidant properties. Creosote oil derived from creosote bush is herbal oil and is associated with antiseptic, analgesic and diuretic properties.

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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.

Market Outlook

North America accounted for highest revenue share in the global creosote oil market in 2017 due to increasing commercial and residential construction in the region and is projected to lead the market size throughout the forecast period. In North America, the U.S. is most lucrative market for creosote oil. Forecast report published by Oldcastle Business Intelligence in October 2017, stated that U.S. Construction industry is expected to grow almost 5% in 2018.

Europe accounted for the second-largest market due to emerging central and eastern European countries’ medical and construction industry and the trend is projected to continue over the forecast period.

Market Taxonomy

On the basis of source type, the global creosote oil market is segmented into:

Wood Tar
Coal Tar
Creosote Bush

On the basis of application, the global creosote oil market is segmented into:

Oil paint
Wood aseptic
Carbon black
Printing ink
Latex filling
Medical

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Key players operating in the global creosote oil market include Cooper Creek, ArcelorMittal S.A., Mitsubishi Chemical, RUTGERS Group, Sandvik Materials Technology, Epsilon Carbon, Himadri Chemicals & Industries, JFE Chemical Corporation, Stella- Jones, KMG Chemicals, Sceneys, Jalan Chemicals & Carbons, Huanghua Xinnuo Lixing, Konark Tar Products, AVH Pvt. Ltd, and Ganga Rasayanie

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This release was published on openPR.