Global Castor Oil and Derivatives Market was valued at US$ 709 Mn in 2017 and is expected to reach US$ 1195.17 Mn by 2026, at a CAGR of 6.75% during a forecast period.
Cosmetics and Pharmaceuticals are projected to hold the largest share in the market during the forecast period owing to rising healthcare and cosmetic industry across the globe. Increasing consciousness regarding health and beauty is surging the market growth. Biodiesel segment is estimated to generate the highest CAGR during the forecast period. Sebacic acid has extensive applications is driving the market growth during the forecast period. Castor wax segment is projected to generate the highest CAGR during the forecast period owing to growing usage for coatings and cosmetic.
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Major driving factors of the market are manufacturers are investing in R&D and growing demand from various end-user industry such as personal care & cosmetic and healthcare industry. A rising trend of bio-based cosmetic products usage is expected to fuel market growth during the forecast period. Growing demand for natural and organic cosmetic product owing to raising awareness regarding personal care among consumers across the globe is driving the market growth in a positive way. Various government bodies making strict regulations regarding environmental hazards caused by the use of conventional sources and petrochemicals is also expected to surge the global castor oil and derivatives market growth in the forecast period. The report provides an in-detail list of drivers and restraints, which are influencing the market growth. Additionally, provides expected opportunities and emerging trends in the market.
The Asia Pacific is estimated to hold the largest share in the market during the forecast period owing to rising industrialization and expansion of infrastructure in developing countries such as India and China. Availability of important raw material which is castor oil seed in large quantities is also driving the market growth. Growing fashion trends is boosting the castor oil and derivatives market growth in the cosmetic & personal care industry. Growing renewable oil sources demand is projected to also boost the growth of the market. Europe is also expected to hold the largest share in the market during the forecast period owing to rising biodiesel demand in this region.
The report includes a detailed study of Porterâ€™s Five Forces model to analyze the different factors affecting the growth of the market. Moreover, the study also covers a market attractiveness analysis, PESTLE analysis, Value Chain Analysis, and SWOT analysis.
Key playerâ€™s studies, analyzed, profiled and benchmarked in Castor Oil and Derivatives Market are Jayant Agro Organics, NK Proteins, Thai Castor Oil Industries Co. Ltd., Bom Brazil, Taj Agro Products, and Gokul Overseas.
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Scope of the Global Castor Oil and Derivatives Market
Global Castor Oil and Derivatives Market, by Product
Dehydrated Castor Oil
Global Castor Oil and Derivatives Market, by Application
Cosmetics & Pharmaceuticals
Plastics & Resins
Global Castor Oil and Derivatives Market, by Region
Middle East & Africa
Key Players Operating in Global Castor Oil and Derivatives Market
Jayant Agro Organics
Thai Castor Oil Industries Co. Ltd.
Taj Agro Products
Xingtai Lantian Fine Chemical Co. Ltd.
Liaoyang Huaxing Chemical Co. Ltd.
Tongliao Tong Hua Castor Chemical Co. Ltd.
ITOH Oil Chemicals Co. Ltd.
Kanak Castor Products Pvt. Ltd.
This post was originally published on Raleigh Recorder