Castor Oil Derivatives Market

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

Buy Now
Report ID: 128 | Published On: Apr 04, 2022

Preview Analysis

Request Insights
Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


In The News


Castor Oil & Derivatives Market Overview

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 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. 

Get more information on this report: Download Sample PDF


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.

The study further analysis the Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).


button
Get more information on this report: Request Sample PDF

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.


Let Us Hear About Your Requirements:

Submit Your Request For Proposal (RFP)

Submit RFP    Buy Now Download Research Report Sample