Castor Oil Derivative Market

Introduction

The castor oil & derivative report covers comprehensive information about the trends, volume (Tons), & value (US$ Mn) projections as well as market dynamics, competition and recent developments in the global castor oil & derivative market for the study period 2018 to 2026.

The global castor oil & derivative market is estimated to reach US$ 1,559.4 Mn by the end of 2026 while registering a CAGR of 4.5% for the same period. The factors which augment the growth of castor oil & derivative market are end use industry growth, increasing disposable income and favorable government policies.

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Corporate Aspirations for a Lower Carbon Footprint

Owing to growing awareness about greenhouse gases (GHG) and deforestation, demand for alternative feedstock is growing. Continuous availability and renewability of castor oil will deliver ecological demand for the product in the coming future. Castor seeds contain more than fifty percent oil. They produce more than 140 gallons of castor oil per acre. These factors are anticipated to create more opportunities for biodiesel production in near future.

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Rising Disposable Income and Favorable Socio-Economic Trends

The demand for Castor oil is expected to increase as a result of rapid urbanization, growing middle-class and increasing demand for sustainable products. Increasing purchasing power, growing economic prosperity and affordability of products has resulted in growth in demand for consumer products, such as personal care & cosmetics. Sound growth of end-user sectors is projected to fuel the demand for castor oil over the forecast period.

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Growth of Pharmaceutical and Healthcare Sectors Across the Globe

The positively growing healthcare landscape is changing rapidly. Various factors, such as changing food habits, lifestyle and sleeping disorder, are contributing to this change. Globally, people are getting more health conscious and thus, the demand for pharmaceuticals is increasing across the globe, which in turn, is leading to high consumption of solvents & other chemicals used in pharmaceutical and healthcare industries.

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Shifting Trend Towards the Consumption of Cosmetics & Personal Care Products with Natural Ingredients

The young generation is investing heavily to attaining better looks, grooming and styling. The demand for natural cosmetics & personal care products has been driving innovation in the cosmetics sector across the globe. The demand for cosmetics & personal care products with natural ingredients is expected to rise in the coming years with consumers becoming more concerned about personal care and the ingredients found in them.

This, in turn, is expected to surge the demand for castor oil derivatives from the cosmetics & personal care industry, which will provide impetus to castor oil derivatives in the market.

Castor Oil & Derivative Market – Competitive Landscape

The global castor oil & derivative market is highly consolidated as India is the only key market for castor oil production globally. The top six key players in the castor oil & derivative market are estimated to hold almost two-third of the market volume share by the end of 2018.

In the last couple of years, the castor oil & derivative market has witnessed lucrative developments. Acquisitions, capacity expansions and collaborations are some of the favorite strategies opted by key manufacturers to sustain in the global castor oil & derivative market.

• India is one of the key producers and exporters of castor oil globally. Key manufacturers are planning to increase their market share by entering into joint ventures with other players or by entering into strategic partnerships
• On the basis of derivative innovation, some of the regional market players are focusing on introducing innovative grades of castor oil in their product portfolio to retain their position in the castor oil & derivative market
• The distribution of castor oil & derivatives through online distribution channels is an alternative strategy adopted by Indian key manufacturers to reinforce their market presence in the regional as well as global market

Some of the prominent players covered in this study of the castor oil & derivative market are The Castor Oil Industries Ltd, Ambuja Solvex Pvt Ltd, Arvalli Castor Derivatives Pvt. Ltd, Royal Castor Products Limited, Jayant Agro Organics, Gokul Overseas, Adani Group, Hokoku Corporation, NK Industries Limited, Alberdingk Boley, OUTA EARTH PROCESSORS Ltd, Kanak Castor Products Pvt., Ltd and Xingtai Lantain Fine Chemical Co., Ltd. etc.

Key Questions Answered in the Global Castor Oil & Derivative Report

• How has the castor oil & derivative market evolved over the last couple of years?
• In terms of value and volume, what shape will the castor oil & derivative market take in near future?
• What are the market dynamics in the castor oil & derivative market?
• What are the key trends and developments being witnessed in the castor oil & derivative market?
• What are the industry and macroeconomic factors impacting the progress of the castor oil & derivative market?
• What are the opportunities, challenges and improvement aspects for key players in the castor oil & derivative market?

Castor Oil & Derivative Market: Segmentation