Global Castor Oil and Derivatives Market was valued at US$ 709 Mn in 2019 and is expected to reach US$ 1195.17 Mn by 2026, at a CAGR of 6.75% during a forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
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Global Castor Oil and Derivatives Market Dynamics:
Cosmetics and Pharmaceuticals are projected to hold the largest share in the market during the forecast period owing to the rising healthcare and cosmetic industry across the globe. Increasing consciousness regarding health and beauty is surging the market growth. The biodiesel segment is estimated to generate the highest CAGR during the forecast period. Sebacic acid has extensive applications and that is also driving the market growth during the forecast period.
The Castor wax segment is projected to generate the highest CAGR during the forecast period owing to growing usage for coatings and cosmetics.
Major driving factors of the market are: manufacturers are investing in R&D and growing demand from various end-user industries such as personal care & cosmetic and the healthcare industry. A rising trend of bio-based cosmetic product usage is expected to fuel the market growth during the forecast period.
Growing demand for natural and organic cosmetic products owing to raising awareness regarding personal care among consumers across the globe is driving the market growth in a positive way.
Various government bodies making strict regulations regarding environmental hazards caused by the use of conventional sources and petrochemicals are also expected to surge the global castor oil and derivatives market growth in the forecast period. The report provides an in-detail list of drivers and restraints, which are influencing the market growth. Additionally, it provides expected opportunities and emerging trends in the market.
Global Castor Oil and Derivatives Market Regional Analysis:
The Asia Pacific is estimated to hold the largest share in the market during the forecast period owing to rising industrialization and expansion of infrastructure in developing countries such as India and China. Availability of important raw material which is castor oil seed in large quantities is also driving the market growth. Growing fashion trends is boosting the castor oil and derivatives market growth in the cosmetic & personal care industry.
Growing renewable oil sources demand is projected to also boost the growth of the market. Europe is also expected to hold the largest share in the market during the forecast period owing to rising biodiesel demand in this region.
The report includes a detailed study of Porter’s Five Forces model to analyze the different factors affecting the growth of the market. Moreover, the study also covers a market attractiveness analysis, PESTLE analysis, Value Chain Analysis, and SWOT analysis.
Global Castor Oil and Derivatives Market, Key Highlights:
- Global Castor Oil and Derivatives Market analysis and forecast, in terms of value.
- Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Castor Oil and Derivatives Market
- Global Castor Oil and Derivatives Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
- Global Castor Oil and Derivatives Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
- Global Castor Oil and Derivatives Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
- Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
- Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Castor Oil and Derivatives Market are also profiled.
The report has considered the base year of 2019 and past four years trend. 2020 figures are at actuals, however due to different dynamics of year 2020, market forecast is not only dependent upon 2020, but on the basis of 2016-2020.
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Global Castor Oil and Derivatives Market, by Product
- Castor Wax
- Sebacic Acid
- Undecylenic Acid
- Dehydrated Castor Oil
Global Castor Oil and Derivatives Market, by Application
- Cosmetics & Pharmaceuticals
- Surface Coatings
- Plastics & Resins
Global Castor Oil and Derivatives Market, by Region
- North America
- Middle East & Africa
- South America
Global Castor Oil and Derivatives Market Key Players
- Jayant Agro Organics
- NK Proteins
- Thai Castor Oil Industries Co. Ltd.
- Bom Brazil
- Taj Agro Products
- Gokul Overseas
- Hokoku Corporation
- Xingtai Lantian Fine Chemical Co. Ltd.
- Liaoyang Huaxing Chemical Co. Ltd.
- Tongliao Tong Hua Castor Chemical Co. Ltd.
- ITOH Oil Chemicals Co. Ltd.
- RPK Agrotech
- Adani Wilmars
- Kanak Castor Products Pvt. Ltd.
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