Global Castor Oil Derivatives Market is projected to be valued US$ 2.46 Billion by 2026; with a CAGR of 5.6% from 2018 to 2026. Castor oil is one of the basic multipurpose plant oils, manufactured by pressing the seeds of the castor oil plant. It is a well-known source of a mono-unsaturated, ricinoleic and 18-C fatty acid. Owing to its unique chemical rich properties and structure, castor oil and its derivatives find use in various industries such as cosmetics, food, agriculture, lubricants, paints, electronics & telecommunications, pharmaceuticals, perfumeries, plastics and rubber, inks & adhesives and textiles. After plant oil, castor oil is known to be the most required oil.
An upsurge in demand for sustainable products & biodegradable, on account of reducing dependence on petrochemicals are the major factors supplementing the market growth. However, the high implementation cost of this technology and techniques & methods used for extraction and availability of substitute oil are the major hindrances for the growth of the market. Rising demand in major end-use industries and expansion in technology would generate new opportunities for the market in the future years.
Derivative Grade, application and geography are the various classifications of the global Castor Oil Derivatives market. Grade-I derivative, grade-II derivative and grade-III derivative are the further bifurcations of the derivative grade segment. The application segment is sub-segmented as biopolymers, food, lubricants, pharmaceuticals, and papers.
North America, Europe, Asia-Pacific, and Rest of the World (RoW) are the geographical splits of the market. The country-wise analysis has been also covered under the scope of the report. North America covers the U.S., Canada, and Mexico wherein Europe covers the UK, Germany, France, Italy, Russia, and Rest of Europe. China, Japan, India, South Korea, and Rest of Asia-Pacific are covered under the Asia-Pacific. Rest of the World (RoW) includes South America, the Middle East, and Africa.
Major Key players operating in the global market include Jayant Agro Organics, ITOH Oil Chemicals Co. Ltd., Bom Brazil, Liaoyang Huaxing Chemical Co., Kanak Castor Products Pvt. Ltd., Hokoku Corporation, Ltd., Gokul Overseas, Thai Castor Oil Industries Co. Ltd., and others.
The highlight of the report
Scope of the Global Castor Oil Derivatives Market
Derivative Grade Segments