Disclosed are methods for improving the water resistance of a lignocellulosic composite product prepared by mixing lignocellulosic material with a binder to form a mixture and solidifying the mixture in a selected configuration to form the composite product comprises adding to the mixture an emulsion including a wax component comprising a nonsaponifiable wax and a saponified wax, an alkyl phenol component comprising a C20-C42 alkyl group, a dispersant/surfactant, a carboxymethylcellulose component, and water. Also disclosed are lignocellulosic products resulting from said method.