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Global Castor Oil Market: By End Use: Pharmaceuticals, Lubricants, Paints, Soaps, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Price Analysis; Manufacturing Process; Project Requirement and Cost Analysis; Project Economics; Competitive Landscape; Industry Events and Developments
Global Castor Oil Market Outlook
The global castor oil market reached a volume of 873.35 KMT in 2022. The market is currently being driven by the increasing demand in various industrial applications such as paints, soaps, lubricants, biofuels, and other sectors. The market value is expected to grow at a CAGR of 3.4% in the forecast period of 2023-2028.
This report by Expert Market Research, entitled “Global Castor Oil Market Report and Forecast 2023-2028”, provides a comprehensive analysis for anyone who plans to foray into the market. Historical market trends for the industry have been provided from 2018-2022 and forecasts have been presented till 2028.
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The value chain analysis has also been covered in this report encompassing all the activities in the value chain such as procurement, manufacturing, sales, and distribution. Furthermore, the study assesses the market based on Porter’s five forces model, which evaluates the level of competition in the market by analysing factors such as bargaining power of buyers and suppliers, threat from substitutes and new entrants. A thorough evaluation of the competitive landscape of the castor oil industry has also been provided.
This report provides an exhaustive insight for setting-up and running a castor oil manufacturing plant. Factors such as land requirement, construction requirement, raw material requirement, labour requirement, machinery requirement, manufacturing process, utility requirement, total capital investment, total operating costs, prices, income projections, expenditure projections, profit margins, net present value, return on investment, payback period, etc. have been comprehensively covered in this report.
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Properties and Applications
Castor oil is a pale-yellow liquid extracted from the seeds of castor oil plant- Ricinus Communis. It is a valuable chemical feedstock that finds applications in many industries like cosmetics, surface coatings, toiletries, pharmaceuticals, perfumes, soaps, medicines, etc. It is also used in the food processing industry either as an additive for flavouring or as a mould inhibitor.
Based on end-uses, the industry can be divided into the following:
- Pharmaceuticals
- Lubricants
- Paints
- Soaps
- Others
The regional markets can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Market Analysis
The global castor oil market is driven primarily by the increasing use of beaver oil for biodiesel production. The method of homogeneous alkaline transesterification into biodiesel additives is widely synthesized. In addition, the confluence of numerous factors, including a growing emphasis on sustainability and substantial growth in the automotive sector worldwide, contributes to the change between petrochemicals and biodiesels among end-users. The implementation of high government rules to promote the use of environmentally friendly products also helps to achieve this. It is used as a flavouring agent, a food additive and a mould inhibitor in the food and beverage industry as well. Changing dietary habits and the rise of the masses' per capita income promote the use of beaver oil. The that use of oil to manufacture beauty products, moisturizers, soaps, medications, toiletries, polyurethane adhesives, processing oils and cooling lubricants further drives the industry.
Competitive Landscape
The report analyses the following key players in the global castor oil market, looking into their capacity, competitive landscape, and latest developments like mergers and acquisitions, expansions of capacity, and plant turnarounds:
- HOKOKU Co.,Ltd
- Jayant Agro-Organics Limited
- Gokul Overseas.
- Thai Castor Oil Industries Co.,Ltd.
- Others
In order to prepare this research report, Expert Market Research conducted face to face and telephonic interviews with numerous industry participants in the industry. They included manufacturers, distributors, end users, consultants, marketing professionals, researchers, etc. Primary research accounted for the bulk of the research efforts, complemented by an extensive secondary research. Secondary sources included annual reports, press releases, books, journals, white papers, newspapers, magazines, government sources and various proprietary databases.
Expert Market Research uses its comprehensive database of macroeconomic and industry specific data to produce its market forecasts. The initial baseline forecast is produced with the most recent market data. After an initial baseline forecast, all future macroeconomic and sector-specific events and assumptions are taken into account to generate the final forecast.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- End Use, Region |
| Breakup by End Use | Pharmaceuticals, Lubricants, Paints, Soaps, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Price Analysis | Historical and Forecast Price Trends- Regional |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | HOKOKU Co.,Ltd, Jayant Agro-Organics Limited, Gokul Overseas., Thai Castor Oil Industries Co.,Ltd., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*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 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Castor Seed Market Overview
8.1 Key Industry Highlights
8.2 Global Castor Seed Historical Market (2018-2022)
8.3 Global Castor Seed Market Forecast (2023-2028)
8.4 Global Castor Seed Market by Region
8.4.1 Market Share
8.4.1.1 North America
8.4.1.2 Europe
8.4.1.3 Asia Pacific
8.4.1.4 Latin America
8.4.1.5 Middle East and Africa
9 Global Castor Oil Market Analysis
9.1 Key Industry Highlights
9.2 Global Castor Oil Historical Market (2018-2022)
9.3 Global Castor Oil Market Forecast (2023-2028)
9.4 Global Castor Oil Market by End Use
9.4.1 Pharmaceuticals
9.4.1.1 Market Share
9.4.1.2 Historical Trend (2018-2022)
9.4.1.3 Forecast Trend (2023-2028)
9.4.2 Lubricants
9.4.2.1 Market Share
9.4.2.2 Historical Trend (2018-2022)
9.4.2.3 Forecast Trend (2023-2028)
9.4.3 Paints
9.4.3.1 Market Share
9.4.3.2 Historical Trend (2018-2022)
9.4.3.3 Forecast Trend (2023-2028)
9.4.4 Soaps
9.4.4.1 Market Share
9.4.4.2 Historical Trend (2018-2022)
9.4.4.3 Forecast Trend (2023-2028)
9.4.5 Others
9.5 Global Castor Oil Market by Region
9.5.1 Market Share
9.5.1.1 North America
9.5.1.2 Europe
9.5.1.3 Asia Pacific
9.5.1.4 Latin America
9.5.1.5 Middle East and Africa
10 Regional Analysis
10.1 North America
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.1.3 Breakup by Country
10.1.3.1 United States of America
10.1.3.2 Canada
10.2 Europe
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.2.3 Breakup by Country
10.2.3.1 United Kingdom
10.2.3.2 Germany
10.2.3.3 France
10.2.3.4 Italy
10.2.3.5 Others
10.3 Asia Pacific
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.3.3 Breakup by Country
10.3.3.1 China
10.3.3.2 Japan
10.3.3.3 India
10.3.3.4 ASEAN
10.3.3.5 Australia
10.3.3.6 Others
10.4 Latin America
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.4.3 Breakup by Country
10.4.3.1 Brazil
10.4.3.2 Argentina
10.4.3.3 Mexico
10.4.3.4 Others
10.5 Middle East and Africa
10.5.1 Historical Trend (2018-2022)
10.5.2 Forecast Trend (2023-2028)
10.5.3 Breakup by Country
10.5.3.1 Saudi Arabia
10.5.3.2 United Arab Emirates
10.5.3.3 Nigeria
10.5.3.4 South Africa
10.5.3.5 Others
11 Market Dynamics
11.1 SWOT Analysis
11.1.1 Strengths
11.1.2 Weaknesses
11.1.3 Opportunities
11.1.4 Threats
11.2 Porter’s Five Forces Analysis
11.2.1 Supplier’s Power
11.2.2 Buyer’s Power
11.2.3 Threat of New Entrants
11.2.4 Degree of Rivalry
11.2.5 Threat of Substitutes
11.3 Key Indicators for Demand
11.4 Key Indicators for Price
12 Value Chain Analysis
13 Price Analysis
13.1 North America Historical Price Trends (2018-2022) and Forecast (2023-2028)
13.2 Europe Historical Price Trends (2018-2022) and Forecast (2023-2028)
13.3 Asia Pacific Historical Price Trends (2018-2022) and Forecast (2023-2028)
13.4 Latin America Historical Price Trends (2018-2022) and Forecast (2023-2028)
13.5 Middle East and Africa Historical Price Trends (2018-2022) and Forecast (2023-2028)
14 Manufacturing Process
14.1 Detailed Process Flow
14.2 Operations Involved
14.3 Mass Balance
15 Project Requirement and Cost Analysis
15.1 Land, Location, and Site Development
15.2 Construction
15.3 Plant Machinery
15.4 Cost of Raw Material
15.5 Packaging
15.6 Transportation
15.7 Utilities
15.8 Manpower
15.9 Other Capital Investment
16 Project Economics
16.1 Capital Cost of the Project
16.2 Techno-Economic Parameters
16.3 Product Pricing and Margins Across Various Levels of the Supply Chain
16.4 Taxation and Depreciation
16.5 Income Projections
16.6 Expenditure Projections
16.7 Financial Analysis
16.8 Profit Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Key Players
17.3 Company Profiles
17.3.1 HOKOKU Co.,Ltd
17.3.1.1 Company Overview
17.3.1.2 Product Portfolio
17.3.1.3 Demographic Reach and Achievements
17.3.1.4 Certifications
17.3.2 Jayant Agro-Organics Limited
17.3.2.1 Company Overview
17.3.2.2 Product Portfolio
17.3.2.3 Demographic Reach and Achievements
17.3.2.4 Certifications
17.3.3 Gokul Overseas.
17.3.3.1 Company Overview
17.3.3.2 Product Portfolio
17.3.3.3 Demographic Reach and Achievements
17.3.3.4 Certifications
17.3.4 Thai Castor Oil Industries Co.,Ltd.
17.3.4.1 Company Overview
17.3.4.2 Product Portfolio
17.3.4.3 Demographic Reach and Achievements
17.3.4.4 Certifications
17.3.5 Others
18 Industry Events and Developments
List of Key Figures and Tables
1. Global Castor Seed Market: Key Industry Highlights, 2018 and 2028
2. Global Castor Seed Historical Market: Breakup by Region (Kilotons), 2018-2022
3. Global Castor Seed Market Forecast: Breakup by Region (Kilotons), 2023-2028
4. Global Castor Oil Market: Key Industry Highlights, 2018 and 2028
5. Global Castor Oil Historical Market: Breakup by End Use (Kilotons), 2018-2022
6. Global Castor Oil Market Forecast: Breakup by End Use (Kilotons), 2023-2028
7. Global Castor Oil Historical Market: Breakup by Region (Kilotons), 2018-2022
8. Global Castor Oil Market Forecast: Breakup by Region (Kilotons), 2023-2028
9. North America Castor Oil Historical Market: Breakup by Country (Kilotons), 2018-2022
10. North America Castor Oil Market Forecast: Breakup by Country (Kilotons), 2023-2028
11. Europe Castor Oil Historical Market: Breakup by Country (Kilotons), 2018-2022
12. Europe Castor Oil Market Forecast: Breakup by Country (Kilotons), 2023-2028
13. Asia Pacific Castor Oil Historical Market: Breakup by Country (Kilotons), 2018-2022
14. Asia Pacific Castor Oil Market Forecast: Breakup by Country (Kilotons), 2023-2028
15. Latin America Castor Oil Historical Market: Breakup by Country (Kilotons), 2018-2022
16. Latin America Castor Oil Market Forecast: Breakup by Country (Kilotons), 2023-2028
17. Middle East and Africa Castor Oil Historical Market: Breakup by Country (Kilotons), 2018-2022
18. Middle East and Africa Castor Oil Market Forecast: Breakup by Country (Kilotons), 2023-2028
19. North America Historical Price Trends and Forecast 2018-2028
20. Europe Historical Price Trends and Forecast 2018-2028
21. Asia Pacific Historical Price Trends and Forecast 2018-2028
22. Latin America Historical Price Trends and Forecast 2018-2028
23. Middle East and Africa Historical Price Trends and Forecast 2018-2028
24. Global Castor Oil Market Structure
Key Questions Answered in the Report
The global castor oil market attained a volume of 873.35 KMT in 2022.
The market is projected to grow at a CAGR of 3.4% in terms of value during the forecast period of 2023-2028.
The major drivers of the include the rising disposable incomes, increasing population, rising use of beaver oil for biodiesel production, growing emphasis on sustainability, and substantial growth in the automotive sector worldwide.
The implementation of government regulations to promote the use of environmentally friendly products is a key trend guiding the growth of the market.
North America, Europe, Latin America, the Asia Pacific, and the Middle East and Africa are the major regions in the market.
The leading end use sectors in the market include pharmaceuticals, lubricants, paints, and soaps, among others.
The major players in the global castor oil market are HOKOKU Co.,Ltd, Jayant Agro-Organics Limited, Gokul Overseas., and Thai Castor Oil Industries Co.,Ltd., among others.
Analyst Review
The global castor oil market attained a reached a volume of 873.35 KMT in 2022, driven by the rising use of beaver oil for biodiesel production. It is expected to witness a further growth in the forecast period of 2023-2028 at a CAGR of 3.4% in terms of value. The industry is projected to be driven by the rising use of the product in the automotive sector worldwide.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. On the basis of end uses, the global castor oil market can be divided into pharmaceuticals, lubricants, paints, and soaps, among others. The major regional markets for the product are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above industry include HOKOKU Co.,Ltd, Jayant Agro-Organics Limited, Gokul Overseas., and Thai Castor Oil Industries Co.,Ltd., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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