What is Global Castor Oil and Derivatives Market?
The Global Castor Oil and Derivatives Market is a vast and dynamic sector that encompasses a variety of products derived from the processing of castor oil. Castor oil itself is a vegetable oil obtained by pressing the seeds of the castor oil plant. This oil is then further processed to produce a range of derivatives including Hydrogenated Castor Oil, Oxidized Castor Oil, Dehydrated Castor Oil, 12-hydroxystearic Acid, among others. These derivatives have a wide range of applications across various industries due to their unique chemical properties. For instance, Hydrogenated Castor Oil, also known as castor wax, is used in cosmetics, lubricants, and even in the production of candles. Oxidized Castor Oil, on the other hand, is used as a plasticizer and a drying agent in coatings and printing inks. Dehydrated Castor Oil is used in the production of varnishes, coatings, sealants, and adhesives. 12-hydroxystearic Acid is used in the production of lithium grease, a popular lubricant in the automotive industry. The "Others" category includes a variety of other derivatives with their own unique applications.
Castor Oil, Hydrogenated Castor Oil, Oxidized Castor Oil, Dehydrated Castor Oil, 12-hydroxystearic Acid, Others in the Global Castor Oil and Derivatives Market:
The Global Castor Oil and Derivatives Market is not just limited to industrial applications. It also finds extensive use in the food, drug, and cosmetics sectors. In the food industry, castor oil and its derivatives are used as food additives and flavoring agents. They are also used in the production of biodiesel. In the pharmaceutical industry, castor oil is used as a carrier for drug delivery, especially in the case of topical medications. It is also used in the production of laxatives. In the cosmetics industry, castor oil and its derivatives are used in the production of skin care products, hair care products, and cosmetics. They are known for their moisturizing and conditioning properties. The "Industrial" category includes the use of castor oil and its derivatives in paints, coatings, lubricants, and other industrial applications. The "Others" category includes a variety of other uses such as in the production of biodiesel, as a lubricant in jet engines, and even as a mold inhibitor in food packaging.
Food, Drug, Cosmetics, Industrial, Others in the Global Castor Oil and Derivatives Market:
The Global Castor Oil and Derivatives Market has seen steady growth over the years. In 2018, the global output of castor oil and its derivatives was 730 kilotons, marking a 3% increase from the 707 kilotons produced in 2017. This growth trend is expected to continue, with the market size projected to grow at an average annual rate of 5% between 2018 and 2025. India was the largest producer of castor oil and its derivatives in 2018, with an output of 664 kilotons, which accounted for 91% of the global market. China, on the other hand, was the largest sales region, with a sales volume of 222 thousand tons, accounting for 30% of the global market. The market is relatively concentrated, with the production share of the top 17 enterprises reaching 76% and the market size accounting for 75% by 2018. The top five players in the market are Jayant Agro, NK Proteins, Adani Wilmar, RPK Agrotech, and ITOH Oil Chemicals. The global Castor Oil and Derivatives market was valued at US$ 1467.9 million in 2022 and is anticipated to reach US$ 2059.9 million by 2029, witnessing a CAGR of 4.9% during the forecast period 2023-2029. The global top three manufacturers hold a share over 50%.
| Report Metric | Details |
| Report Name | Castor Oil and Derivatives Market |
| Accounted market size in 2022 | US$ 1467.9 million |
| Forecasted market size in 2029 | US$ 2059.9 million |
| CAGR | 4.9% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Jayant Agro, NK Proteins, Adani Wilmar, RPK Agrotech, ITOH Oil Chemicals, Thai Castor Oil, Hokoku Corporation, Gokul Overseas, SHANGHAI RIHAO CHEMICAL CO.,LTD., Dongying Kanghui Industry and Trade Co. Ltd, Kisan Agro, Weiyubiological, TIAN XING BIOTECHNOLOGY, Ambuja Solvex, Adya Oil, Wen Shu Jxlan Yellow River oll CO, LTD, Girnar Industries |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
