AfricaCreosote Oil Market: Introduction
The creosote oilmarket in Africa was valued at ~US$ 32 Mn in 2018 andis anticipated to expand at a CAGR of ~3% from 2019 to 2027.Creosote oil is an extensively used wood preservative substance in Africa. Ithelps protect wood from environmental degradation and enhances its overallresistance from insect species. In terms of demand, South Africa held adominant share of the creosote oil market in Africa in 2018. Interms of value, the creosote oil market in South Africa is expected to expandat a CAGR of more than 2.8% duringthe forecast period.
Key Drivers of Africa Creosote OilMarket
Africa is adeveloping region with expanding population. Therefore, demand for electricityinfrastructure is high in Africa. Increase in electricity infrastructure isdriving the demand for utility poles for electricity transmission. Creosote oilis primarily used to treat timber poles that are used for a wide variety ofapplications such as utility poles and poles for fences. Thus, increase indemand for treated timber is anticipated to fuel the demand for creosote oil inthe near future. This is estimated to propel the creosote oil market in Africa innext few years.
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Coal Tar Creosote to Hold MajorShare of Africa Creosote Oil Market
Based onsource, the creosote oil market in Africa has been segmented into coal tarcreosote and wood tar creosote. The coal tar creosote segment is expected tohold major share of the creosote oil market in Africa during the forecastperiod. The growth of the coal tar creosote oil can be ascribed to itsbeneficial properties such as weather resistance and termite resistance. Thewood tar creosote segment is also anticipated to expand due to the increase indemand for wood tar creosote in medical applications. Demand for wood tarcreosote is anticipated to expand at a considerable pace during the forecastperiod, owing to various health benefits offered by this creosote oil.
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South Africa to Dominate AfricaCreosote Oil Market
SouthAfrica is anticipated to dominate the creosote oil market in Africa during theforecast period. The creosote oil market in the country is projected to expandat a CAGR of more than 2.7% during theforecast period. The country accounted for major share of the creosote oilmarket in Africa in 2018. Highshare of South Africa can be ascribed to the presence of key manufacturers ofcreosote oil in the country. Additionally, countries other than South Africa donot have the facilities to treat timber using creosote oil. Rest of Africaconstituted a relatively smaller share of the creosote oil market in Africa in 2018. Thiscan be ascribed to the extensive usage of chromated copper arsenate (CCA) forthe treatment of timber poles in countries in Rest of Africa. However, thesub-region is anticipated to offer lucrative opportunities for importers ofcreosote-treated poles in the near future due to the expanding building &construction sector in countries such as Zambia and Ethiopia. This is expectedto drive the demand for creosote oil in Rest of Africa in the near future.
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Market Share of Prominent Players
Key playersoperating in the creosote oil market in Africa are FFS Refiners (Pty) Ltd,ArcelorMittal South Africa Ltd., and Industrial Distillers & Refiners. Thecreosote oil market in the region is highly consolidated. Major players areextensively engaged in new product launches to increase their presence in themarket. FFS Refiners (PTY) Ltd. constituted significant share of the creosoteoil market in Africa in 2018, led bythe company’s constant efforts toward production optimization and new productlaunches. Furthermore, the company is the largest producer of creosote oil forwood preservation in South Africa. It manufactures creosote oil at the Evanderfacility in South Africa.
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