Castor Oil and Derivatives Market Analysis 2020-2026

1. Castor Oil and Derivatives Market by Product, Competitive Market Share & Forecast, 2020-2026

2. Industry Trends & Forecast Report 2027 Global Castor Oil & Derivatives Market witness market size of USD 752.5 Million in 2019 and estimated to reach USD 1195.17 Million by 2026 with a significant CAGR of 6.83% during the forcast period 2020-2026.. Increasing demand of castor oil from several industries (biodiesel, lubricants, etc.) and the increasing need of biodegradable and sustainable products is expected to uplift the global castor oil and derivatives. Due  to the growing awareness about greenhouse gases and deforestation, the demand for alternative feedstock is growing. The contionous availability and renewability of caster oil is expected to deliver ecological demand contributing to the market growth.

3. Growth drivers Use of castor oil as bio-diesel source The use of castor oil as a biodiesel source is one of the key castor oil and its derivatives market trends. The increasing demand for petroleum products had led to an increase in petrol and diesel prices and shifted the attention to biofuel production. Biofuels are used as substitutes to conventional fuels for running automobiles, generators, heavy machinery, and other equipment. Castor oil exhibits great productivity and yield and is a non-edible crop for producing biodiesel. Castor oil is potentially inexhaustible and renewable source of energy content close to diesel fuel. Its low cost and easy availability is also driving its growing utilization for producing biodiesel. This provides the opportunity for the market of castor oil & derivatives.

4. Restraints Allergic reactions and several side effects of castor oil restrict the growth of the market Castor oil and its derivatives have reported for various allergic reactions and contact dermatitis in case of continued exposure. The seeds and leaves of the plant comprises of the alkaloid ricinine and the toxic protein ricin. Inner ingestion of castor oil and its derivatives may result in nausea, diarrhea, vomiting, cramping or abdominal pain. These factors projected to hinder growth of castor oil and its derivatives market globally.

5. Global Castor Oil and Derivatives Market: Product Based on product, global Castor Oil and Derivatives Market is segmented into Sebacic Acid, 12-HSA, Ricinoleic Acid, Hydrogenated castor Oil, Undecylenic acid, Dehydrated Castor Oil, and Others. The sebacic acid is expected to grow at a faster rate owing to increasing application scope of sebacic acid in lubricants, cosmetics, plasticizers, hydraulic fluids and candle manufacturing catalyze. Increasing sebacic acid demand in bio-based polymer as well as polyamide manufacturing is expected to favor industry growth.

6. Global Castor Oil and Derivatives Market: Application Based on application, global Castor Oil and Derivatives Market is segmented into Lubricants, Surface Coatings, Biodiesel, Cosmetics & Pharmaceuticals, Plastics & Resins, and Others. The cosmetics & Pharmaceuticals segment is expected to grow at a faster rate. The castor oil and derivatives are used in the production of several personal care and cosmetic products such as soaps, deodorants, body lotions, haircare, and skincare products. It is generally used as an ingredient in cosmetics by the name of Ricinuscommunis oil. Ricinoleic acid and its esters and salts function predominantly as surfactants, skin-conditioning agents, and emulsion stabilizers, in the cosmetics & pharmaceuticals industry.

7. Global Castor Oil and Derivatives Market: Regional Insights Geographically, the global Castor Oil and Derivatives market is segmented into North America, Europe, Asia-Pacific, and Latin America & Middle East & AFrica. APAC driven by India, Japan and China castor oil derivatives market size is expected to grow significantly due to rapid growth in cosmetics, pharmaceutical, and surface coating industries. The major castor producing countries are India, China, Brazil, Paraguay, Philippines, Russia, Ethiopia, and Thailand. Sample Copy :https://www.blueweaveconsulting.com/castor-oil-and-derivatives-market-bwc20028/report-sample

8. Global Castor Oil and Derivatives Market:  Competitive Landscape The major market players in the Castor Oil & Derivatives market are Thai Castor Oil Industries Co. Ltd., ITOH Oil Chemicals Co., Ltd., Jayant Agro-Organics Limited, Hokoku Corporation, RPK Agrotech, Taj Agro Products Limited, TongliaoTonghua Castor Chemical Co., Ltd., XingtaiLantian Fine Chemical Co., Ltd., N.K. Proteins Pvt Limited, AdaniWilmar Ltd., Kanak Castor Products Pvt. Ltd., Liaoyang Huaxing Chemical Co., Ltd., GokulAgri International Ltd., Girnar Industries, BOM BrasilÓleo de MamonaLtda, Enovel, Arkema, AmbujaSolvex Pvt. Ltd., and other prominent players. These vendors have adopted various startegies to expand their offerings in the market.

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