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At a CAGR of 7.8% between 2023 and 2030, the global castor oil & derivatives market is forecast to rise from its 2022 valuation of USD 1.29 billion.
Increased use as a biodiesel feedstock is expected to be a primary demand driver. Combustion engines that run on kerosene, diesel, and gasoline, as well as passenger vehicles like planes, ships, and trucks, can all use liquid biofuels as a replacement fuel. Biodiesel is a liquid biofuel that can be used in diesel engines or combined with diesel oil. It is made from animal fats or vegetable oils. Castor oil is a non-edible bio-based raw material used to create biodiesel because of its unique chemical structure.
Castor oil is anticipated to witness a high demand over the forecast period from cosmetics and pharmaceutical sectors due to increasing healthcare expenditure and growing awareness among individuals regarding self-management and preventive care resulting in growing consumption of cosmetics and pharmaceutical products. More and more soaps, cosmetics, and skincare items are including the ingredient, which is expected to drive up demand.
Castor oil, often known as oil from the castor plant (Ricinus communis), is a vegetable oil extracted from the plant's seeds. Hydrogenated castor oil, ricinoleic acid, and polyol esters are its primary offshoots. Because of its efficiency, accessibility, and long-term viability, it ranks among the top industrial fuels. Lubricant, plasticizer, and surfactant, hydrogenated castor oil is a solid version of regular castor oil. Castor oil is rich in the fatty acid ricinoleic acid. It's used as a building block in the chemical manufacturing process and as a renewable substitute for petroleum-based goods. Castor oil contains ricinoleic acid at a concentration of around 87%. It has some highly unusual chemical and physical properties. In several contexts, polyol esters serve as lubricants and plasticizers.
Castor oil and its derivatives are in high demand due to the rising demand for bio-based lubricants and oils. Biodiesel and biofuels can be made from castor oil. The biofuel business owes a great deal to the shift from fossil fuels to renewable energy. The demand for castor oils and derivatives is expected to be driven by the widespread use of biodiesel made from castor in end-use industries like energy, automotive, and aviation. Hair oils and moisturizers derived from castor oil are also widely utilized in the cosmetics and pharmaceuticals industries. Castor oil consumption is predicted to increase as a result of the widespread usage of castor oils and derivatives in the cosmetic and medicinal industries.
Creams, soaps, fragrances, shampoos, lipsticks, lip gels, deodorants, hair oils, sunscreens, lubricants, and many other cosmetic products are formulated using this substance. Castor oil is expected to see increased demand from the cosmetics industry due to its use in non-comedogenic products. Increased makeup use amongst professional women in countries like Germany, Italy, France, Spain, and the United Kingdom is expected to boost demand for skincare products.
The cosmetics industry, and by extension the need for castor oil and its derivatives, are expected to benefit from increased consumer awareness and disposable income, which will drive up demand for moisturizers and creams. The worldwide cosmetics market is expected to be fueled by the rising middle classes in emerging economies like India, China, Malaysia, and Sri Lanka, where there is a growing awareness of the importance of personal grooming.
There has been a rise in the desire for sustainable, renewable alternatives due to rising worries about the environmental impact of petroleum-based products. Policies are being introduced by governments all over the world to encourage the purchase and consumption of goods made from biological sources. Technological advancements have made bio-based products more cost-effective than their petroleum-based counterparts. The castor oil and derivatives industry stands to gain from these factors during the next few years.
Report Coverage
Global Castor Oil & Derivatives research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Castor Oil & Derivatives report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Castor Oil & Derivatives competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Castor Oil & Derivatives market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Castor Oil & Derivatives market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Castor Oil & Derivatives market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Thai Castor Oil Industries Co., Ltd., Tongliao Tonghua Castor Chemical Co., Ltd., RPK Agrotech, Adani Wilmar Ltd., Hokoku Corporation, Taj Agro Products Limited, N.K. Proteins Pvt., Limited, Kanak Castor Products Pvt., Ltd., Liaoyang Huaxing Chemical Co., Ltd., Girnar Industries, Jayant Agro Organics Limited, Gokul Agri International Ltd., BOM Brasil Oleo de Mamona Ltda, Vertellus, Xingtai Lantian Fine Chemical Co., Ltd., Kokura Gosei Kogyo Ltd., ITOH Oil Chemicals Co., Ltd.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Castor Oil & Derivatives market based on the below-mentioned segments:
Global Castor Oil & Derivatives Market, By Product
Sebacic Acid
12-HAS
Ricinoleic Acid
Hydrogenated Castor Oil (Castor Wax)
Undecylenic Acid
Dehydrated Castor Oil
Others
Global Castor Oil & Derivatives market, By Application
Lubricants
Surface Coatings
Biodiesel
Cosmetics and Pharmaceuticals
Plastics and Resins
Others
Global Castor Oil & Derivatives market, Regional Analysis
Increased use as a biodiesel feedstock is expected to be a primary demand driver. Combustion engines that run on kerosene, diesel, and gasoline, as well as passenger vehicles like planes, ships, and trucks, can all use liquid biofuels as a replacement fuel. Biodiesel is a liquid biofuel that can be used in diesel engines or combined with diesel oil. It is made from animal fats or vegetable oils. Castor oil is a non-edible bio-based raw material used to create biodiesel because of its unique chemical structure.
Castor oil is anticipated to witness a high demand over the forecast period from cosmetics and pharmaceutical sectors due to increasing healthcare expenditure and growing awareness among individuals regarding self-management and preventive care resulting in growing consumption of cosmetics and pharmaceutical products. More and more soaps, cosmetics, and skincare items are including the ingredient, which is expected to drive up demand.
Castor oil, often known as oil from the castor plant (Ricinus communis), is a vegetable oil extracted from the plant's seeds. Hydrogenated castor oil, ricinoleic acid, and polyol esters are its primary offshoots. Because of its efficiency, accessibility, and long-term viability, it ranks among the top industrial fuels. Lubricant, plasticizer, and surfactant, hydrogenated castor oil is a solid version of regular castor oil. Castor oil is rich in the fatty acid ricinoleic acid. It's used as a building block in the chemical manufacturing process and as a renewable substitute for petroleum-based goods. Castor oil contains ricinoleic acid at a concentration of around 87%. It has some highly unusual chemical and physical properties. In several contexts, polyol esters serve as lubricants and plasticizers.
Castor oil and its derivatives are in high demand due to the rising demand for bio-based lubricants and oils. Biodiesel and biofuels can be made from castor oil. The biofuel business owes a great deal to the shift from fossil fuels to renewable energy. The demand for castor oils and derivatives is expected to be driven by the widespread use of biodiesel made from castor in end-use industries like energy, automotive, and aviation. Hair oils and moisturizers derived from castor oil are also widely utilized in the cosmetics and pharmaceuticals industries. Castor oil consumption is predicted to increase as a result of the widespread usage of castor oils and derivatives in the cosmetic and medicinal industries.
Creams, soaps, fragrances, shampoos, lipsticks, lip gels, deodorants, hair oils, sunscreens, lubricants, and many other cosmetic products are formulated using this substance. Castor oil is expected to see increased demand from the cosmetics industry due to its use in non-comedogenic products. Increased makeup use amongst professional women in countries like Germany, Italy, France, Spain, and the United Kingdom is expected to boost demand for skincare products.
The cosmetics industry, and by extension the need for castor oil and its derivatives, are expected to benefit from increased consumer awareness and disposable income, which will drive up demand for moisturizers and creams. The worldwide cosmetics market is expected to be fueled by the rising middle classes in emerging economies like India, China, Malaysia, and Sri Lanka, where there is a growing awareness of the importance of personal grooming.
There has been a rise in the desire for sustainable, renewable alternatives due to rising worries about the environmental impact of petroleum-based products. Policies are being introduced by governments all over the world to encourage the purchase and consumption of goods made from biological sources. Technological advancements have made bio-based products more cost-effective than their petroleum-based counterparts. The castor oil and derivatives industry stands to gain from these factors during the next few years.
Report Coverage
Global Castor Oil & Derivatives research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Castor Oil & Derivatives report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Castor Oil & Derivatives competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Castor Oil & Derivatives market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Thai Castor Oil Industries Co., Ltd., Tongliao Tonghua Castor Chemical Co., Ltd., RPK Agrotech, Adani Wilmar Ltd., Hokoku Corporation, Taj Agro Products Limited, N.K. Proteins Pvt., Limited, Kanak Castor Products Pvt., Ltd., Liaoyang Huaxing Chemical Co., Ltd., Girnar Industries, Jayant Agro Organics Limited, Gokul Agri International Ltd., BOM Brasil Oleo de Mamona Ltda, Vertellus, Xingtai Lantian Fine Chemical Co., Ltd., Kokura Gosei Kogyo Ltd., ITOH Oil Chemicals Co., Ltd. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Castor Oil & Derivatives Market from 2021 to 2030.
- Market Forecast for Castor Oil & Derivatives Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Castor Oil & Derivatives competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Castor Oil & Derivatives
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Castor Oil & Derivatives market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Castor Oil & Derivatives market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Thai Castor Oil Industries Co., Ltd., Tongliao Tonghua Castor Chemical Co., Ltd., RPK Agrotech, Adani Wilmar Ltd., Hokoku Corporation, Taj Agro Products Limited, N.K. Proteins Pvt., Limited, Kanak Castor Products Pvt., Ltd., Liaoyang Huaxing Chemical Co., Ltd., Girnar Industries, Jayant Agro Organics Limited, Gokul Agri International Ltd., BOM Brasil Oleo de Mamona Ltda, Vertellus, Xingtai Lantian Fine Chemical Co., Ltd., Kokura Gosei Kogyo Ltd., ITOH Oil Chemicals Co., Ltd.
Primary Target Market
- Market Players of Castor Oil & Derivatives
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Castor Oil & Derivatives market based on the below-mentioned segments:
Global Castor Oil & Derivatives Market, By Product
Sebacic Acid
12-HAS
Ricinoleic Acid
Hydrogenated Castor Oil (Castor Wax)
Undecylenic Acid
Dehydrated Castor Oil
Others
Global Castor Oil & Derivatives market, By Application
Lubricants
Surface Coatings
Biodiesel
Cosmetics and Pharmaceuticals
Plastics and Resins
Others
Global Castor Oil & Derivatives market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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