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Market Research Report

Castor Oil & Derivatives Market Global market Analysis & Opportunity Outlook 2021

Published On : 12:58 AM, 1st October, 2016 REP-ID-128 Category: FMCG & Food

Castor oil, a kind of vegetable oil, is extracted from castor plant. The major contents of this oil are ricinoleic acid and oleic acid. Castor oil is primarily used in production of soaps, paints, coatings, dyes, inks, etc. 

The global castor oil and derivatives market is anticipated to flourish at a rapid pace and projected to reach USD 2.0 Billion by the end of 2021. Geographically, the global castor oil and derivatives market is segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific, Middle East and North Africa (MENA) and Rest of World.

Market Segmentation

  • By Product Type

The global castor oil and derivatives market is segmented on the basis of product type into undecylenic acid, castor wax or hydrogenated castor oil, sebacic acid, dehydrated castor oil and others.

  • By End Users

On the basis of application the global castor oil and derivatives market is segmented into lubricants, biodiesel, cosmetics, pharmaceuticals, resin and others. Growth of castor oil and derivatives in cosmetics and pharmaceutical industry is expected to witness a CAGR of 5.0% during 2015-2021.

Growth Drivers and challenges

Escalating demand of castor oil from end user industries (biodiesel, lubricants, etc.) is believed to uplift the global castor oil and derivatives market over the forecast period i.e. 2015-2021.

In addition to that, rising need of biodegradable and sustainable products is also expected to drive the demand of castor oil and its derivatives in future.

However, irregularity in the rain due to global warming, increasing prices of raw materials such as castor seeds along with availability of low price alternative renewable chemicals etc. are projected to restrain the growth of global castor oil and derivatives market over next 4-5 years. 

Market Size and Forecast

Regionally, with 58.0% of share in 2015, Asia-Pacific dominates the global castor oil and derivatives market. The castor oil market in the region is propelled by increasing healthcare spending and continuous expansion of personal care sector in countries such as India and China. Asia-Pacific is further anticipated to dominate the global castor oil and derivatives market and flourish at a CAGR of 5.0% during 2015-2021.

North America and Europe castor oil and derivatives market is also expected to grow at a rapid pace primarily sparked by rapid increase in bio-diesel production in some of the major countries including the U.S., Germany, U.K., etc.                     

Key Players

Global castor oil and derivatives market is very competitive and includes some of the top players such as ITOH Oil Chemicals Co. Ltd., Taj Agro Products, NK Proteins, Adani Group, Bom Brazil, Tongliao TongHua Castor Chemical Co. Ltd., RPK Agrotech, etc.

Scope and Context

Overview of the Parent Market

Analyst View

Market Size and Growth

  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil, Rest of Latin America)
  • Western and Eastern Europe (Germany, Italy, Spain, France, U.K, Benelux, Hungary, Rest Of Western Europe, Russia Poland, Rest of Eastern Europe)
  • Asia-Pacific (China, India, Singapore, Japan, Australia & New Zealand & Rest of Asia)
  • Rest of World

Segmentation

  • By Product Type
  • By End Users
  • By Geography

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

 

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