NEW YORK , Sept. 20, 2022 /PRNewswire/ -- The global castor oil and its derivatives market size is expected to grow by USD 811.08 million , accelerating at a CAGR of 4.94% during the forecast period. The report identifies Adani Wilmar Ltd., Alberdingk Boley GmbH, Ambuja Solvex Pvt. Ltd., Apple Food Industries, and Arkema SA, Girnar Industries among others as some of the key market players. The market is fragmented due to the presence of international, regional, and local vendors. Major vendors are making significant investments in R&D to maintain their dominant positions. Get detailed insights on the market size, competitive analysis, growth across various segments, and other important statistics. Buy Report Now
The market is segmented as follows:
Castor Oil And Its Derivatives Market by Product
Sebacic acid - size and forecast 2021-2026
Undecylenic acid - size and forecast 2021-2026
Castor wax - size and forecast 2021-2026
Others - size and forecast 2021-2026
The market growth in sebacic acid was significant in 2021. The sebacic acid segment will maintain its dominant position during the forecast period. The segment is driven by the use of sebacic acid in a wide range of applications such as polymer production, cosmetics, lubricants, plasticizers, corrosion inhibitors, thickening agents, anti-corrosion applications, and antifreeze coolants. In addition, the use of sebacic acid as a buffering agent in cosmetic applications is contributing to the growth of the segment.
Castor Oil And Its Derivatives Market by Geography
APAC - size and forecast 2021-2026
Europe - size and forecast 2021-2026
North America - size and forecast 2021-2026
South America - size and forecast 2021-2026
The Middle East and Africa - size and forecast 2021-2026
The market will generate maximum revenue in APAC. The region will account for 42% of the global market share over the forecast period. The rapid growth of the cosmetics and personal care, pharmaceutical, and lubricant industry is the key factor driving the regional market. In addition, increased healthcare expenditure, especially in developing countries such as China and India will further foster the growth of the castor oil and its derivates market in APAC.
The market is driven by the increasing demand for castor oil and its derivatives in major end-user industries. Castor oil and its derivatives are used in a wide range of applications across various industries such as pharmaceuticals, cosmetics, personal care, surfactants, lubricants, surface coatings, biodiesel, food and beverages, and others. For instance, in the pharmaceutical industry, castor oil is used as a laxative and a soothing agent. Ricinoleic acid, a castor oil derivative, is used for forming stable emulsions of non-polar materials in various aqueous systems. In the automobile industry, castor oil and its derivatives are used extensively in the manufacture of lubricants. Many such applications across various industries are driving the growth of the global castor oil and its additives market.
In addition, the use of castor oil as a source of biodiesel is anticipated to further boost the growth of castor oil and its derivatives market. However, fluctuations in the prices of castor oil and its derivatives might reduce the growth potential in the market.
Major Vendors Covered in the Report:
Inner Mongolia Weiyu Biotech Co. Ltd.
ITOH OIL CHEMICALS Co. Ltd.
Thai Castor Oil Industries Co. Ltd.
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Ricinoleic Acid Market by End-user and Geography - Forecast and Analysis 2022-2026
Sebacic Acid Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2020-2024
Castor Oil And Its Derivatives Market Scope
Accelerate at a CAGR of 4.94%
APAC, Europe, North America, South America, and Middle East and Africa
US, China, India, France, and Brazil
Leading companies, competitive strategies, consumer engagement scope
Adani Wilmar Ltd., Alberdingk Boley GmbH, Ambuja Solvex Pvt. Ltd., Apple Food Industries, Arkema SA, Girnar Industries, Globexo India, Gokul Agri International Ltd., Gokul Agro Resources, HOKOKU Corp., Inner Mongolia Weiyu Biotech Co. Ltd., ITOH OIL CHEMICALS Co. Ltd., Jayant Agro Organics Ltd., Krishna Antioxidants Pvt. Ltd., N.K. Industries Ltd., Royal Castor Products Ltd., Taj Agro Products Ltd., Thai Castor Oil Industries Co. Ltd., The Chemical Co., and Vertellus Holdings LLC
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
3.4 Market outlook: Forecast for 2021-2026
5.3 Sebacic acid - Market size and forecast 2021-2026
5.4 Undecylenic acid - Market size and forecast 2021-2026
5.5 Castor wax - Market size and forecast 2021-2026
5.6 Others - Market size and forecast 2021-2026
7.3 APAC - Market size and forecast 2021-2026
7.4 Europe - Market size and forecast 2021-2026
7.5 North America - Market size and forecast 2021-2026
7.6 South America - Market size and forecast 2021-2026
7.7 Middle East and Africa - Market size and forecast 2021-2026
7.8 China - Market size and forecast 2021-2026
7.9 India - Market size and forecast 2021-2026
7.10 US - Market size and forecast 2021-2026
7.11 Brazil - Market size and forecast 2021-2026
7.12 France - Market size and forecast 2021-2026
8.3 Impact of drivers and challenges
10.9 ITOH OIL CHEMICALS Co. Ltd.
10.12 Thai Castor Oil Industries Co. Ltd.
11.3 Currency conversion rates for US$
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