Castor oil finds myriad applications in a number of industries. It is also required in the making of equipment which are used for national security as well as in the production of polymers for electronics and telecommunications. It is also used in the manufacturing of electrical liquids, adhesives, dyes, paints, pigments, machining oils, soaps, cosmetics, textiles, waxes and washing powders, etc. According to a new report by Expert Market Research, the global castor oil market reached a volume of 0.9 Million Tons in 2019 and is further expected to reach 1.1 Million Tons by 2025. Despite a decline in the castor oil production levels globally in the years 2012 and 2013, the market has recovered since 2014 onwards on account of increase in the production levels of castor seed. This can be accredited to a number of factors. As a result of a falling reliance on petrochemicals, there has been a rise in the demand for sustainable and biodegradable products. Moreover, the growth in end-use markets is further fuelling the demand for castor oil across the world.
Key findings from the report:
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Expert Market Research has analysed the global castor oil market according to end-uses, major regions and top players:
Market breakup by End-use
Market breakup by Region
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"Global Castor Oil Market: By Region: North America, Europe, Asia Pacific, Latin America, Middle East and Africa; By End-Use: Paints, Soaps, Lubricants; SWOT Analysis; Historical Production and Consumption (2015-2019); Production and Consumption Forecast (2020-2025); Competitive Landscape; Capital Investment; Operating Expenditures; Project Economics"
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