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Global Castor Oil and Derivatives Market Size, Share, Growth, Forecast: By Product Type: Sebacic Acid, Dehydrated Castor Oil, Hydrogenated Castor Oil (Castor Wax), Ricinoleic Acid, Undecylenic acid, Others; By Application: Pharmaceuticals, Lubricants, Paints and Varnishes, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Castor Oil and Derivatives Market Outlook
The global castor oil and derivatives market size reached a value of approximately USD 4.35 billion in 2023. The market is expected to grow at a CAGR of 10% between 2024 and 2032, reaching a value of around USD 10.29 billion by 2032.
Key Trends in the Market
Castor oil is a viscous vegetable oil obtained from the seeds of castor beans and its derivatives are chemicals used in the formulation of lubricants, cosmetic products, paints, and coatings, among other products. Castor oil and derivatives are also used in the manufacturing of soaps and polishes, among others.
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- Demand for castor oil and derivatives is rising rapidly owing to their increasing usage in biodiesel feedstock. The rising demand for diesel engines has further increased the use of castor oil in the production of biodiesel.
- Increasing awareness about the anti-inflammatory and natural laxative properties of castor oil is propelling its utilisation in various formulations, as it helps promote healing by reducing pain and swelling, and clear out the bowel.
- Rising demand for castor oil and derivatives from cosmetic and self-care industry for the preparation of soap, shampoos, hair oils, lubricants, perfumes, and lip gels, among others is further boosting the market growth globally.
Global Castor Oil and Derivatives Market Analysis
Based on product type, the market is segmented into sebacic acid, dehydrated castor oil, hydrogenated castor oil (castor wax), ricinoleic acid, and undecylenic acid, among others. On the basis of application, the market is divided into pharmaceuticals, personal care and beauty care, lubricants, paints and varnishes, and plastics and resins, among others. By region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the castor oil and derivatives market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- NK Industries Ltd
- Thai Castor Oil Industries Co. Ltd
- ITOH Oil Chemicals Co., Ltd.
- Hokoku Corporation
- Jayant Agro-Organics Limited.
- Adani Wilmar Ltd.
- N K Proteins Pvt Ltd.
- Ambuja Solvex Pvt. Ltd.
- Taj Agro International (Taj Pharma Group)
- Others
Market Share by Product Type
Sebacic acid accounts for a significant share of the castor oil and derivatives market owing to its increasing applications in the manufacturing of resins and polyamide. Its growing use in the production of biopolymers, plastics, and other aromatic products is contributing to the sebacic acid demand and aiding the segment growth. Sebacic acid aids in improving the skin’s elasticity and surface texture, this in turn, minimises the appearance of breakouts and blemishes.
Market Share by Region
The Asia Pacific held a considerable share of the market owing to the rising production of castor seeds in countries including India, Vietnam, Cambodia, Bangladesh, China, Myanmar, and South Korea, among others. The shift from traditional methods to harvest castor seeds to the commercial methods is further fuelling the castor oil and derivatives market growth in the region. China, among other countries, is focussed on growing castor for oil seed and its leaves are further used to raise silkworms, stems to make medium density boards and paper, and roots as a natural medicine.
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Competitive Landscape
Adani Wilmar Ltd. was founded in 1999 and is headquartered in Gujarat, India. It is a food and beverage company that manufactures and provides wheat flour, soya chunks, and edible oils, among other products to its customers globally.
NK Proteins Pvt Ltd. is a food and beverage service company that was founded in 1992. The company is headquartered in Gujarat, India and is known for producing high quality edible packaged oils.
Ambuja Solvex Pvt. Ltd. was established in 2004, with its headquarters located in Gujarat, India. The chemical manufacturing company provides natural products extracts such as castor oil products to various industries.
Other players in the castor oil and derivatives market include NK Industries Ltd, Thai Castor Oil Industries Co. Ltd, ITOH Oil Chemicals Co., Ltd., Hokoku Corporation, Jayant Agro-Organics Limited., and Taj Agro International (Taj Pharma Group), among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*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.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Castor Oil and Derivatives Market Analysis
8.1 Key Industry Highlights
8.2 Global Castor Oil and Derivatives Historical Market (2018-2023)
8.3 Global Castor Oil and Derivatives Market Forecast (2024-2032)
8.4 Global Castor Oil and Derivatives Market by Product Type
8.4.1 Sebacic Acid
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Dehydrated Castor Oil
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Hydrogenated Castor Oil (Castor Wax)
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Ricinoleic Acid
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Undecylenic acid
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Others
8.5 Global Castor Oil and Derivatives Market by Application
8.5.1 Pharmaceuticals
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Personal Care and Beauty Care
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Lubricants
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Paints and Varnishes
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Plastics and Resins
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Others
8.6 Global Castor Oil and Derivatives Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Castor Oil and Derivatives Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Castor Oil and Derivatives Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Castor Oil and Derivatives Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Castor Oil and Derivatives Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Castor Oil and Derivatives Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code – 151530)
16.1 Major Exporting Countries
16.1.1 By Value
16.1.2 By Volume
16.2 Major Importing Countries
16.2.1 By Value
16.2.2 By Volume
17 Price Analysis
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 NK Industries Ltd
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Thai Castor Oil Industries Co. Ltd
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 ITOH Oil Chemicals Co., Ltd.
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 Hokoku Corporation
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 Jayant Agro-Organics Limited.
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Adani Wilmar Ltd.
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 N K Proteins Pvt Ltd.
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 Ambuja Solvex Pvt. Ltd.
18.2.8.1 Company Overview
18.2.8.2 Product Portfolio
18.2.8.3 Demographic Reach and Achievements
18.2.8.4 Certifications
18.2.9 Taj Agro International (Taj Pharma Group)
18.2.9.1 Company Overview
18.2.9.2 Product Portfolio
18.2.9.3 Demographic Reach and Achievements
18.2.9.4 Certifications
18.2.10 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Castor Oil and Derivatives Market: Key Industry Highlights, 2018 and 2032
2. Global Castor Oil and Derivatives Historical Market: Breakup by Product Type (USD Billion), 2018-2023
3. Global Castor Oil and Derivatives Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
4. Global Castor Oil and Derivatives Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global Castor Oil and Derivatives Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global Castor Oil and Derivatives Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Castor Oil and Derivatives Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Castor Oil and Derivatives Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Castor Oil and Derivatives Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Castor Oil and Derivatives Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Castor Oil and Derivatives Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Castor Oil and Derivatives Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Castor Oil and Derivatives Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Castor Oil and Derivatives Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Castor Oil and Derivatives Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Castor Oil and Derivatives Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Castor Oil and Derivatives Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Major Exporting Countries by Value
19. Major Importing Countries by Value
20. Major Exporting Countries by Volume
21. Major Importing Countries by Volume
22. Global Castor Oil and Derivatives Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 4.35 billion in 2023.
The market is projected to grow at a CAGR of 10% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 10.29 billion by 2032.
The major drivers of the market include natural laxative properties of castor oil and derivatives, increasing applications of castor oil in the formulation of paints, and increasing use in the pharmaceutical sector.
The key trends of the market are the increasing demand for castor oil from cosmetics sector, rising awareness about the anti-inflammatory properties of castor oil and derivatives, and growing applications of castor oil in biodiesel feedstock.
The different product types include sebacic acid, dehydrated castor oil, hydrogenated castor oil (castor wax), ricinoleic acid, and undecylenic acid, among others.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The key players in the market are NK Industries Ltd, Thai Castor Oil Industries Co. Ltd, ITOH Oil Chemicals Co., Ltd., Hokoku Corporation, Jayant Agro-Organics Limited., Adani Wilmar Ltd., N K Proteins Pvt Ltd., Ambuja Solvex Pvt. Ltd., and Taj Agro International (Taj Pharma Group), among others.
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