According to Facts and Factors, the Global Castor Oil Derivatives Market size worth at around USD 1.5 billion in 2021 and is estimated to grow USD 2 billion by 2028, at a CAGR of approximately 5% between 2022 and 2028. The key players are covered in the report are AmbujaSolvexPvt Ltd, The Castor Oil Industries Ltd, Royal Castor Products Limited, Arvalli Castor Derivatives Pvt. Ltd, Gokul Overseas, Jayant Agro Organics, Hokoku Corporation, Adani Group, AlberdingkBoley, NK Industries Limited, XingtaiLantain Fine Chemical Co., Ltd., Kanak Castor Products Pvt., Ltd., and others.
Miami, FL, Oct. 07, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Castor Oil Derivatives Market Size, Share, Growth Analysis Report By Application (Lubricants, Cosmetics & Pharmaceuticals, Biodiesel, Plastics & Resins, and Others), By Type (Undecylenic Acid, Sebacic Acid, Castor Wax, Ricinoleic acid, 12-HAS Dehydrated Castor Oil, and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
The report analyses the Castor Oil Derivatives market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Castor Oil Derivatives market.
Castor Oil Derivatives Market Overview:
Castor oil is employed for the production of biodiesel as a bio-based raw material since it has a distinctive chemical structure and is non-edible. The product has great anti-inflammatory impacts that help in declining pain & swelling and help in the healing of wounds. Additionally, as castor oil is a natural laxative, it helps in the muscle movement that thrusts firm through the intestines and assists clear the bowels.
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Market Growth Drivers
Castor oil is likely to witness a huge demand from cosmetics sector
An increase in demand for creams and moisturizers due to a rise in consumer disposable income is likely to boost the cosmetics market growth and consequently the castor oil derivatives demand.
Widespread consciousness and changing lifestyles on account of grooming of an individual across emerging countries are projected to augment the global castor oil derivative market demand as well. Factors influencing castor oil derivatives manufacturing cost include weather uncertainties, raw material availability, extraction techniques & methods, the availability of substitute oil, and a lack of working capital, all of which are acting as restraints in the castor oil derivative market.
Browse the full “Castor Oil Derivatives Market Size, Share, Growth Analysis Report By Application (Lubricants, Cosmetics & Pharmaceuticals, Biodiesel, Plastics & Resins, and Others), By Type (Undecylenic Acid, Sebacic Acid, Castor Wax, Ricinoleic acid, 12-HAS Dehydrated Castor Oil, and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/castor-oil-derivatives-market
Key Insights from Primary Research
As per the analysis, the Castor Oil Derivatives market is likely to grow above a CAGR of around 5% over the forecast period (2022-2028).
The Castor Oil Derivatives market size was worth around US$ 1.5 Billion in 2021 and is estimated to hit approximately US$ 2 Billion by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
Based on type segmentation, sebacic acid were predicted to show maximum market share in the year 2021
Based on application segmentation, plastics & resins were the leading revenue-generating segment in 2021.
On the basis of region, Asia Pacific was the leading revenue generator in 2021..
Castor Oil Derivatives Market: Segmentation Analysis
The global castor oil derivatives market is segmented based on type, application, and region.
Based on type, the global market segments are undecylenic acid, ricinoleic acid, 12-HAS,sebacic acid, castor wax, dehydrated castor oil, and others. Ricinoleic acid is anticipated to witness a substantial CAGR over the coming years. The product is used in metalworking compounds & emulsifiers, industrial lubricants, and cutting oils. It is used to make high-solid liquid and transparent bar soap.
It allows the homogenization of phenolic and cresylic ingredients in disinfectants, heavy-duty detergents, and industrial germicides. Additionally, ricinoleic acid is an efficient pigment and a dye dispersant, which finds its application in inks, cosmetics, coatings, plastics, and others. All these determinants are further likely to drive the growth of the market.
Based on application, the global market segments are lubricants, cosmetics & pharmaceuticals, biodiesel, plastics & resins, and others. The cosmetics and pharmaceutical segment is anticipated to witness the highest CAGR over the coming years. The growth can be attributed to a rise in demand for cosmetic and personal care products which include deodorants, soaps, body lotions, and other skincare products.
The product is used as an excipient or additive in drugs to develop constant emulsions of nonpolar components in numerous aqueous systems. Further, it is also used as a medium for drug delivery for nonpolar drugs like anticancer drugs—paclitaxel and docetaxel. Innovations in the pharmaceutical industry concerning the addition of castor oil in novel medicines are likely to drive the market.
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Asia Pacific is likely to dominate the global castor oil derivatives market globally during the coming years. The global castor oil derivatives market is consolidated as India is the only market for castor oil production across the globe. India is one of the major exporters and producers of castor oil worldwide. Key manufacturers are planning to expand their market share by coming into joint ventures with other market players or through strategic partnerships. India's top destinations for export are the United States, China, and the European Union.
According to The Solvent Extractors Association of India, China accounts for approximately 41 percent of India's castor oil exports. India’s castor oil exports have risen from 547,000 tonnes in 2018 to over 685,000 tonnes in 2021 accounting for nearly 90% of the world supply. Further, with a capacity of more than 211-kilo tonnes, China is the global leader in the production and export of sebacic acid.
Market Size in 2021
USD 1.5 Billion
Projected Market Size in 2028
USD 2 Billion
CAGR Growth Rate
Key Market Players
AmbujaSolvexPvt Ltd, The Castor Oil Industries Ltd, Royal Castor Products Limited, Arvalli Castor Derivatives Pvt. Ltd, Gokul Overseas, Jayant Agro Organics, Hokoku Corporation, Adani Group, AlberdingkBoley, NK Industries Limited, XingtaiLantain Fine Chemical Co. Ltd., Kanak Castor Products Pvt. Ltd., and Others
By Application, Type, and Region
Major Regions Covered
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
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The report contains qualitative and quantitative research on the global Castor Oil Derivatives Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
Some of the main players in the global Castor Oil Derivatives market include:
The Castor Oil Industries Ltd
Royal Castor Products Limited
Arvalli Castor Derivatives Pvt. Ltd
Jayant Agro Organics
NK Industries Limited
XingtaiLantain Fine Chemical Co. Ltd.
Kanak Castor Products Pvt. Ltd.
Recent Industry Developments:
In August 2020, BASF SE launched Lamesoft Balance, a hydrogenated castor oil-based product to stabilize ingredients in hair and skin cleansing formulations.
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The global Castor Oil Derivatives market is segmented as follows:
Cosmetics & Pharmaceuticals
Plastics & Resins
Dehydrated Castor Oil
The Middle East & Africa
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