Press Release

Global Castor Oil Market to Reached 903.04 KMT in 2023.

Global Castor Oil Market

According to a new report by Expert Market Research, the global castor oil market size reached a volume of 903.04 KMT in 2023 and is projected to grow at a CAGR of 3.4% in the forecast period of 2024-2032.

A vegetable oil, castor oil is obtained from the seeds of the castor oil plant, which is one of the oldest plants. The plant grows well in sandy loams which are deep, moderately fertile, well drained with slightly acidic conditions. Castor oil is known to have been domesticated in Eastern Africa and was introduced to China from India, centuries ago. It has high concentrations of a special fatty acid called ricinoleic acid (over 80%) and oleic acid. It has a very pale yellow colour along with a distinct taste and odour. Castor oil is long been acknowledged for its therapeutic and medicinal properties. As it is an anti-inflammatory and anti-oxidant oil, it can strengthen the immune system, treat hair loss, arthritis and rheumatism, constipation, gastrointestinal problems and can strengthen the lymphatic system.

 

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 903.04 KMT in 2023 and is projected to grow at a CAGR of 3.4% in the forecast period of 2024-2032. 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.

 

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

 

Key findings from the report:

  • The major end-use industries of castor oil are paints, soaps, lubricants and others. The paint industry dominated the market with a majority of the market share, in 2020.
  • Country-wise, India was the largest global producer of castor oil in 2020. It was followed by China, the United States, Europe and others.
  • Some of the Indian top players operating in the market include Adani Wilmar, Jayant Agro, Gokul Overseas, Kandla Agro & Chemicals and others.

 

Expert Market Research has analysed the global castor oil market according to end-uses, major regions and top players:

 

Market breakup by End-use

  • Paints
  • Soaps
  • Lubricants
  • Others

 

Market breakup by Region

  • India
  • China
  • United States
  • Europe
  • Others

 

Top Players

  • Adani Wilmar
  • Jayant Agro
  • Gokul Overseas
  • Kandla Agro & Chemicals
  • Others

 

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

 

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

 

Contact Us:

Expert Market Research
Website: www.expertmarketresearch.com
Email: sales@expertmarketresearch.com
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

Why Expert Market Research?

Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

Right Price

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

Right Support

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

NEWSLETTER