Product Code: 978-1-68038-328-7
Castor Oil & Derivatives Market Growth & Trends:
The global castor oil & derivatives market size is expected to reach USD 1.9 Billion by 2030, as per the new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 5.8% from 2022 to 2030. The demand is attributed to the increase in the consumption of the product by various end-use industries such as coatings, lubricants, medicinal products, and personal care.
The product is traditionally extracted from castor seeds. India is a prominent producer of castor oil across the globe owing to the high availability of raw material. In India, Gujarat accounts for over 65% production of castor seeds. The raw material is easily sourced from prominent castor seed-producing cities such as Patan, Banaskantha, Sabarkantha, Ahmedabad, and Mehsana. Farmers in Gujarat are focused on sowing a larger number of seed crops given the high price of the product in the market. Moreover, the state has received decent rainfall in a couple of years, which is expected to enhance the yield.
Castor seeds are considered a volatile raw material owing to their prices. Being an agricultural product, castor seed production depends on the weather conditions and rainfall predominant in the castor growing area. The inadequate size of the castor crop makes it liable to high fluctuations and speculations in prices as the size of the crop is directly proportional to seed count and yield. Furthermore, to reduce the consequences of uncertain weather, the key players in the market have laid down several considerations for inventory management.
Liquid biofuels are used as substitute fuels for different types of combustion engines working on kerosene, diesel, and gasoline as well as in passenger vehicles including airplanes, ships, and trucks. Biodiesel, a liquid biofuel, is extracted from animal fats or vegetable oils and is either used in diesel engines or blended with diesel oil. Castor oil is used as a bio-based raw material for the production of biodiesel since it is non-edible and has a distinctive chemical structure.
Castor Oil & Derivatives Market Report Highlights:
- Sebacic acid product type accounted for more than 30% revenue share in 2021. The growth is attributed to the increase in consumption of sebacic acid as a complexing agent and corrosion inhibitors in greases and metalworking fluids
- Ricinoleic acid segment is anticipated to grow at a CAGR of 6.5% from 2022 to 2030 in terms of revenue owing to its consumption in manufacturing polyesters and macro lactones
- Plastics and Resins application held more than 20% of the revenue share in 2021. The demand is anticipated owing to the increase in the consumption of biodegradable plastics
- Cosmetics and pharmaceuticals segment is expected to grow at 6.1% CAGR over the forecast period owing to consumption of the product in the manufacturing of personal care and cosmetic products
- The manufacturers of the product are focused on investing in the research & development activities to find new product application and improve its standards, thereby ensuring consistency in the product quality. They supply various grades of castor oil to serve specific requirements of associated application sectors
- The Easter European Geopolitical Conflict significantly spurred the oil prices, which in turn increased the production cost of the chemical industry. Also, the economics of edible oils (including the product) is likely to be disrupted on account of various trade sanctions imposed by Russia and Ukraine
- In terms of the product end-use in the chemical sector, growing upstream prices is likely to negatively affect consumer demand as well as reduce the profit margin for chemical manufacturers
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market Segmentation & Scope
- 1.2 Information Procurement
- 1.2.1 Purchased Database
- 1.2.2 GVR's Internal Database
- 1.2.3 Secondary Sources
- 1.2.4 Third Party Perspective
- 1.2.5 Primary Research
- 1.2.6 Primary Sources
- 1.3 Information analysis
- 1.3.1 Data Analysis Models
- 1.4 Market formulation & data visualization
- 1.5 Data validation & publishing
- 1.6 Research Scope and Assumptions
Chapter 2 Executive Summary
- 2.1 Market Snapshot
- 2.2 Segmental Outlook
- 2.3 Competitive Insights
Chapter 3 Castor Oil & Derivatives Market: Variables, Trends & Scope
- 3.1 Market Lineage Outlook
- 3.2 Penetration & Growth Prospect Mapping
- 3.3 Industry Value Chain Analysis
- 3.3.1 raw material trends
- 3.3.2 Manufacturing & Technology Trends
- 3.4 Price Trend Analysis
- 3.4.1 Price Trend Analysis, By Product
- 3.4.2 Price Trend Analysis, By Application
- 3.4.3 Factors Influencing Prices
- 3.5 Trade Analysis - Castor Oil (HS Code: 151530)
- 3.5.1 List of Top 25 castor oil Importing Countries, 2017 - 2021
- 3.5.2 List of Top 25 castor oil Exporting Countries, 2017 - 2021
- 3.5.3 Trade Flow Analysis (Top 10 Countries)
- 3.5.3.1 India
- 3.5.3.2 Netherlands
- 3.5.3.3 France
- 3.5.3.4 Germany
- 3.5.3.5 U.S.
- 3.5.3.6 Thailand
- 3.5.3.7 Brazil
- 3.5.3.8 Belgium
- 3.5.3.9 China
- 3.5.3.10 Japan
- 3.6 Regulatory Framework
- 3.7 Market Dynamics
- 3.7.1 market driver analysis
- 3.7.1.1 Increasing demand for biodiesel
- 3.7.1.2 Growth of cosmetics and pharmaceutical sectors
- 3.7.2 Market Restraint Analysis
- 3.7.2.1 Fluctuating castor oil prices
- 3.7.3 industry challenges
- 3.8 Impact of COVID-19 Pandemic
- 3.9 Impact of Eastern European Geopolitical Conflict
- 3.10 Business Environment Analysis
- 3.10.1 industry analysis: porter's
- 3.10.1.1 Threat of new entrants
- 3.10.1.2 Bargaining power of buyers
- 3.10.1.3 Competitive rivalry
- 3.10.1.4 Bargaining power of suppliers
- 3.10.1.5 Threat of substitutes
- 3.10.2 PESTEL analysis
- 3.10.2.1 Political
- 3.10.2.2 Economic
- 3.10.2.3 Social
- 3.10.2.4 Technological
- 3.10.2.5 Environmental
- 3.10.2.6 Legal
Chapter 4 Castor Oil & Derivatives Market: Product Estimates & Trend Analysis
- 4.1 Product Movement Analysis & Market Share, 2021 & 2030 (USD Million)
- 4.2 Castor Oil & Derivatives Market Estimates & Forecasts, By Product, 2018 - 2030 (Kilotons) (USD Million)
- 4.3 Sebacic Acid
- 4.4 12-HSA
- 4.5 Ricinoleic Acid
- 4.6 Hydrogenated Castor Oil (Castor Wax)
- 4.7 Undecylenic acid
- 4.8 Dehydrated Castor Oil
- 4.9 Others
Chapter 5 Castor Oil & Derivatives Market: Application Estimates & Trend Analysis
- 5.1 Application Movement Analysis & Market Share, 2021 & 2030 (Kilotons)
- 5.2 Castor Oil & Derivatives Market Estimates & Forecasts, By Application, 2018 - 2030 (Kilotons) (USD Million)
- 5.3 Lubricants
- 5.4 Surface Coatings
- 5.5 Biodiesel
- 5.6 Cosmetics & Pharmaceuticals
- 5.7 Plastics & Resins
- 5.8 Others
Chapter 6 Regional Estimates & Trend Analysis
- 6.1 Castor Oil & Derivatives Regional Movement Analysis & Market Share, 2021 & 2030 (Kilotons)
- 6.2 Castor Oil & Derivatives Market Estimates & Forecasts by region, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.1 North America
- 6.2.1.1 North America Castor Oil & Derivatives Market Estimates & Forecasts analysis, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.1.2 North America Castor Oil & Derivatives Market Estimates & Forecasts analysis, by application, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.1.3 U.S.
- 6.2.1.3.1 U.S. Castor Oil & Derivatives Market Estimates & Forecasts analysis, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.1.3.2 U.S. Castor Oil & Derivatives Market Estimates & Forecasts analysis, by application, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.1.4 CANADA
- 6.2.1.4.1 Canada Castor Oil & Derivatives Market Estimates & Forecasts analysis, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.1.4.2 Canada Castor Oil & Derivatives Market Estimates & Forecasts analysis, by application, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.1.5 MEXICO
- 6.2.1.5.1 Mexico Castor Oil & Derivatives Market Estimates & Forecasts analysis, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.1.5.2 Mexico Castor Oil & Derivatives Market Estimates & Forecasts analysis, by application, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.2 Europe
- 6.2.2.1 Europe Castor Oil & Derivatives Market Estimates & Forecasts analysis, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.2.2 Europe Castor Oil & Derivatives Market Estimates & Forecasts analysis, by application, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.2.3 GERMANY
- 6.2.2.3.1 Germany Castor Oil & Derivatives Market Estimates & Forecasts analysis, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.2.3.2 Germany Castor Oil & Derivatives Market Estimates & Forecasts analysis, by application, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.2.4 UK
- 6.2.2.4.1 UK Castor Oil & Derivatives Market Estimates & Forecasts analysis, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.2.4.2 UK Castor Oil & Derivatives Market Estimates & Forecasts analysis, by application, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.2.5 France
- 6.2.2.5.1 France Castor Oil & Derivatives Market Estimates & Forecasts analysis, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.2.5.2 France Castor Oil & Derivatives Market Estimates & Forecasts analysis, by application, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.2.6 ITALY
- 6.2.2.6.1 Italy Castor Oil & Derivatives Market Estimates & Forecasts analysis, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.2.6.2 Italy Castor Oil & Derivatives Market Estimates & Forecasts analysis, by application, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.2.7 Spain
- 6.2.2.7.1 Spain Castor Oil & Derivatives Market Estimates & Forecasts analysis, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.2.7.2 Spain Castor Oil & Derivatives Market Estimates & Forecasts analysis, by application, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.2.8 Netherlands
- 6.2.2.8.1 Netherlands Castor Oil & Derivatives Market Estimates & Forecasts analysis, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.2.8.2 Netherlands Castor Oil & Derivatives Market Estimates & Forecasts analysis, by application, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.3 Asia Pacific
- 6.2.3.1 Asia Pacific Castor Oil & Derivatives Market Estimates & Forecasts analysis, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.3.2 Asia Pacific Castor Oil & Derivatives Market Estimates & Forecasts analysis, by application, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.3.3 China
- 6.2.3.3.1 China Castor Oil & Derivatives Market Estimates & Forecasts analysis, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.3.3.2 China Castor Oil & Derivatives Market Estimates & Forecasts analysis, by application, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.3.4 India
- 6.2.3.4.1 India Castor Oil & Derivatives Market Estimates & Forecasts analysis, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.3.4.2 India Castor Oil & Derivatives Market Estimates & Forecasts analysis, by application, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.3.5 Japan
- 6.2.3.5.1 Japan Castor Oil & Derivatives Market Estimates & Forecasts analysis, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.3.5.2 Japan Castor Oil & Derivatives Market Estimates & Forecasts analysis, by application, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.3.6 South Korea
- 6.2.3.6.1 South Korea Castor Oil & Derivatives Market Estimates & Forecasts analysis, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.3.6.2 South Korea Castor Oil & Derivatives Market Estimates & Forecasts analysis, by application, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.3.7 Australia
- 6.2.3.7.1 Australia Castor Oil & Derivatives Market Estimates & Forecasts analysis, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.3.7.2 Australia Castor Oil & Derivatives Market Estimates & Forecasts analysis, by application, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.3.8 Singapore
- 6.2.3.8.1 Singapore Castor Oil & Derivatives Market Estimates & Forecasts analysis, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.3.8.2 Singapore Castor Oil & Derivatives Market Estimates & Forecasts analysis, by application, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.4 Central & South America
- 6.2.4.1 Central & South America Castor Oil & Derivatives Market Estimates & Forecasts analysis, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.4.2 Central & South America Castor Oil & Derivatives Market Estimates & Forecasts analysis, by application, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.4.3 Brazil
- 6.2.4.3.1 Brazil Castor Oil & Derivatives Market Estimates & Forecasts analysis, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.4.3.2 Brazil Castor Oil & Derivatives Market Estimates & Forecasts analysis, by application, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.4.4 Argentina
- 6.2.4.4.1 Argentina Castor Oil & Derivatives Market Estimates & Forecasts analysis, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.4.4.2 Argentina Castor Oil & Derivatives Market Estimates & Forecasts analysis, by application, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.5 Middle East & Africa
- 6.2.5.1 Middle East & Africa Castor Oil & Derivatives Market Estimates & Forecasts analysis, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.5.2 Middle East & Africa Castor Oil & Derivatives Market Estimates & Forecasts analysis, by application, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.5.3 Saudi Arabia
- 6.2.5.3.1 Saudi Arabia Castor Oil & Derivatives Market Estimates & Forecasts analysis, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.5.3.2 Saudi Arabia Castor Oil & Derivatives Market Estimates & Forecasts analysis, by application, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.5.4 South Africa
- 6.2.5.4.1 South Africa Castor Oil & Derivatives Market Estimates & Forecasts analysis, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.5.4.2 South Africa Castor Oil & Derivatives Market Estimates & Forecasts analysis, by application, 2018 - 2030 (Kilotons) (USD Million)
Chapter 7 Competitive Landscape
- 7.1 Recent Development & Impact Analysis, By Key Market Participants
- 7.2 Company Market Positioning Analysis
- 7.3 Vendor Landscape
- 7.3.1 List of Key Manufacturers
- 7.3.1.1 Production capacity of key players
- 7.3.1.2 Company Market Share analysis
- 7.3.2 List of potential end-users
- 7.4 Competitive Environment
- 7.5 Strategy Framework
Chapter 8 Company Profiles
- 8.1 Thai Castor Oil Industries Co. Ltd.
- 8.1.1 Company Overview
- 8.1.2 Financial Performance
- 8.1.3 Product Benchmarking
- 8.2 ITOH Oil Chemicals Co., Ltd.
- 8.2.1 Company Overview
- 8.2.2 Financial Performance
- 8.2.3 Product Benchmarking
- 8.3 Jayant Agro-Organics Limited
- 8.3.1 Company Overview
- 8.3.2 Financial Performance
- 8.3.3 Product Benchmarking
- 8.4 Hokoku Corporation
- 8.4.1 Company Overview
- 8.4.2 Financial Performance
- 8.4.3 Product Benchmarking
- 8.5 RPK Agrotech
- 8.5.1 Company Overview
- 8.5.2 Financial Performance
- 8.5.3 Product Benchmarking
- 8.6 Taj Agro Products Limited
- 8.6.1 Company Overview
- 8.6.2 Financial Performance
- 8.6.3 Product Benchmarking
- 8.7 Tongliao Tonghua Castor Chemical Co., Ltd.
- 8.7.1 Company Overview
- 8.7.2 Financial Performance
- 8.7.3 Product Benchmarking
- 8.8 Xingtai Lantian Fine Chemical Co., Ltd.
- 8.8.1 Company Overview
- 8.8.2 Financial Performance
- 8.8.3 Product Benchmarking
- 8.9 N.K. Proteins Pvt Limited
- 8.9.1 Company Overview
- 8.9.2 Financial Performance
- 8.9.3 Product Benchmarking
- 8.10 Adani Wilmar Ltd.
- 8.10.1 Company Overview
- 8.10.2 Financial Performance
- 8.10.3 Product Benchmarking
- 8.11 Kanak Castor Products Pvt. Ltd.
- 8.11.1 Company Overview
- 8.11.2 Financial Performance
- 8.11.3 Product Benchmarking
- 8.12 Liaoyang Huaxing Chemical Co., Ltd.
- 8.12.1 Company Overview
- 8.12.2 Financial Performance
- 8.12.3 Product Benchmarking
- 8.13 Gokul Agri International Ltd.
- 8.13.1 Company Overview
- 8.13.2 Financial Performance
- 8.13.3 Product Benchmarking
- 8.14 Girnar Industries
- 8.14.1 Company Overview
- 8.14.2 Financial Performance
- 8.14.3 Product Benchmarking
- 8.15 BOM Brasil Oleo de Mamona Ltda
- 8.15.1 Company Overview
- 8.15.2 Financial Performance
- 8.15.3 Product Benchmarking
- 8.16 Vertellus
- 8.16.1 Company Overview
- 8.16.2 Financial Performance
- 8.16.3 Product Benchmarking
- 8.17 Kokura Gosei Kogyo. Ltd.
- 8.17.1 Company Overview
- 8.17.2 Financial Performance
- 8.17.3 Product Benchmarking