Castor Oil And Derivatives Market Bwc20028
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Global Castor Oil and Derivatives Market by Product (Sebacic Acid, 12-HSA, Ricinoleic Acid, Hydrogenated castor Oil, Undecylenic acid, Dehydrated Castor Oil, and Others), By Application (Lubricants, Surface Coatings, Biodiesel, Cosmetics & Pharmaceuticals, Plastics & Resins, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, And Middle East & Africa); Trend Analysis, Competitive Market Share & Forecast, 2016-2026
- Published Date: April 2020
- Report ID: BWC20028
- Available Format: PDF
- Page: 177
Report Overview
Global Castor Oil and Derivatives Market
Forecast and Trends
The Global Castor
Oil and Derivatives Market has reached USD 752.5 Million in 2019 and projected
to reach USD 1195.17 Million by 2026 with a significant CAGR of 6.83% during
the forcast period 2020-2026. Owing to the factors such as increasing demand
from the various industries such as cosmetics, pharmaceuticals, and lubricants,
along with the growing demand for the products that are sustainable and biodegradable
is expected to trigger the market growth.
Rising global
consumption of castor oil and derivatives by various industries for the purpose
of manufacturing bio based plastics, coatings, lubricants, hair care, skincare,
and medicinal products is anticipated to drive the market growth during the
forecast period. Increasing consumption of castor oil and derivatives in
biodiesel feedstock is the one of the key factor for the growth of market. In
addition, due to its ability to treat skin disorders, headaches, inflammatory
problems, and the utilization of the product in traditional medicines sector boosting
growth trend and positively impact the growth of the global castor oil and
derivatives market over the forecast period.
Global Castor
Oil and Derivatives Market: Overview
Castor
oil is a kind of vegetable oil which is extracted from castor plant. The key
contents of this oil are oleic acid, and ricinoleic acid. Castor
oil and its derivatives are mainly utilized in production of paints, coatings,
soaps,
dyes, inks, etc. due to its distinctive chemical structure and
enriching properties.
Growth Drivers
Use of castor oil as bio-diesel source
The use of castor
oil as a biodiesel source is one of the key castor oil and its derivatives
market trends. The increasing demand for petroleum products had led to an
increase in petrol and diesel prices and shifted the attention to biofuel
production. Biofuels are used as substitutes to conventional fuels for running
automobiles, generators, heavy machinery, and other equipment. Castor oil
exhibits great productivity and yield and is a non-edible crop for producing
biodiesel. Castor oil is potentially inexhaustible and renewable source of
energy content close to diesel fuel. Its low cost and easy availability is also
driving its growing utilization for producing biodiesel. This provides the
opportunity for the market of castor oil & derivatives.
Shifting preference towards consumption of personal care
products with natural ingredients
The young
generation is spending heavily to attain better looks, grooming and styling.
The increasing demand for natural cosmetics & personal care products is
driving innovation in the cosmetics sector globally. Moreover, the demand for
natural ingredients products is expected to rise in the future as consumers
becoming more aware about personal care and the ingredients used in the
products. This is anticipated to the growing demand for castor oil derivatives.
Restraint
Allergic reactions and several side effects
of castor oil restrict the growth of the market
Castor
oil and its derivatives have reported for various allergic reactions and
contact dermatitis in case of continued exposure. The seeds and leaves of the
plant comprises of the alkaloid ricinine and the toxic protein ricin. Inner
ingestion of castor oil and its derivatives may result in nausea, diarrhea,
vomiting, cramping or abdominal pain. These factors projected to hinder growth
of castor oil and its derivatives market globally.
Global Castor
Oil and Derivatives Market: Product
Based on product,
global Castor Oil and Derivatives Market is segmented into Sebacic Acid, 12-HSA,
Ricinoleic Acid, Hydrogenated castor Oil, Undecylenic acid, Dehydrated Castor
Oil, and Others. The sebacic acid is expected to grow at a faster rate owing to
increasing application scope of sebacic acid in lubricants, cosmetics,
plasticizers, hydraulic fluids and candle manufacturing catalyze. Increasing
sebacic acid demand in bio-based polymer as well as polyamide manufacturing is expected
to favor industry growth.
Global Castor
Oil and Derivatives Market: Application
Based on application, global Castor Oil and Derivatives Market is segmented into Lubricants, Surface Coatings, Biodiesel, Cosmetics & Pharmaceuticals, Plastics & Resins, and Others. The cosmetics & Pharmaceuticals segment is expected to grow at a faster rate. The castor oil and derivatives are used in the production of several personal care and cosmetic products such as soaps, deodorants, body lotions, haircare, and skincare products. It is generally used as an ingredient in cosmetics by the name of Ricinus communis oil. Ricinoleic acid and its esters and salts function predominantly as surfactants, skin-conditioning agents, and emulsion stabilizers, in the cosmetics & pharmaceuticals industry.
Global Castor
Oil and Derivatives Market: Regional Insights
Geographically, the global Castor Oil and Derivatives market is segmented into North America, Europe, Asia-Pacific, and Latin America & Middle East & AFrica. APAC driven by India, Japan and China castor oil derivatives market size is expected to grow significantly due to rapid growth in cosmetics, pharmaceutical, and surface coating industries. The major castor producing countries are India, China, Brazil, Paraguay, Philippines, Russia, Ethiopia, and Thailand.
Global Castor
Oil and Derivatives Market: Competitive Landscape
The major market players in the Castor Oil & Derivatives market are Thai Castor Oil Industries Co. Ltd., ITOH Oil Chemicals Co., Ltd., Jayant Agro-Organics Limited, Hokoku Corporation, RPK Agrotech, Taj Agro Products Limited, Tongliao Tonghua Castor Chemical Co., Ltd., Xingtai Lantian Fine Chemical Co., Ltd., N.K. Proteins Pvt Limited, Adani Wilmar Ltd., Kanak Castor Products Pvt. Ltd., Liaoyang Huaxing Chemical Co., Ltd., Gokul Agri International Ltd., Girnar Industries, BOM Brasil Óleo de Mamona Ltda, Enovel, Arkema, Ambuja Solvex Pvt. Ltd., and other prominent players. These vendors have adopted various startegies to expand their offerings in the market.
Scope of the Report
Attribute |
Details |
Years Considered |
Historical data – 2016-2019 |
|
Base Year – 2019 |
|
Forecast
– 2020 – 2026 |
Facts Covered |
Revenue
in USD Billion |
Market Coverage |
United States, Canada, Germany, United Kingdom, France, Italy,
Spain, Brazil, Mexico, Argentina, Japan, China, India, Japan, South Korea,
Saudi Arabia, UAE, South Africa |
Product/Service Segmentation |
By Product,
By Application and Region. |
Key Players |
Thai
Castor Oil Industries Co. Ltd., ITOH Oil Chemicals Co., Ltd., Jayant
Agro-Organics Limited, Hokoku Corporation, RPK Agrotech, Taj Agro Products
Limited, Tongliao Tonghua Castor Chemical Co., Ltd., Xingtai Lantian Fine
Chemical Co., Ltd., N.K. Proteins Pvt Limited, Adani Wilmar Ltd., Kanak
Castor Products Pvt. Ltd., Liaoyang Huaxing Chemical Co., Ltd., Gokul Agri
International Ltd., Girnar Industries, BOM Brasil Óleo de Mamona Ltda,
Enovel, Arkema, Ambuja Solvex Pvt. Ltd., and other prominent players. |
By Product
Ø Sebacic Acid
Ø 12-HSA
Ø Ricinoleic Acid
Ø Hydrogenated castor Oil
Ø Undecylenic acid
Ø Dehydrated Castor Oil
Ø Others
By Application
Ø Lubricants
Ø Surface Coatings
Ø Biodiesel
Ø Cosmetics & Pharmaceuticals
Ø Plastics & Resins
Ø Others
By Region:
Ø North America
Ø Europe
Ø Asia Pacific
Ø Latin America
Ø Middle East & Africa
The objective of the Study:
Ø To analyze and
forecast the global Castor Oil and Derivatives Market size of the market in
terms of value.
Ø To examine the
careful market segmentation and forecast the market size, in terms of value,
based on the region by segmenting.
Ø The Global Castor
Oil and Derivatives Market segmented into five regions,
namely, North America, Europe, Asia Pacific, Latin America and Middle East
& Africa coupled with their leading countries.
Ø To outline,
categorized, and forecast the global Castor Oil and Derivatives Market based on
the Product, Application, coupled with the region.
Ø To examine
competitive developments like technological advancement, services, and
regulative framework within the global Castor Oil and Derivatives Market.
Ø To highlight the
impact analysis of the factors affecting the market dynamics such as drivers,
restraints, opportunities, and challenges.
Ø To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.
SCOPE
1. Research Framework
1.1. Research
Objective
1.2. Product Overview
1.3. Market
Segmentation
2. Research
Methodology
2.1. Qualitative
Research
2.1.1.
Primary & Secondary Sources
2.2. Quantitative
Research
2.2.1.
Primary & Secondary Sources
2.3. Breakdown
of Primary Research Respondents, By Region
2.3.1.
Secondary Research
2.3.2.
Primary Research
2.4. Breakdown
of Primary Research Respondents
2.5. Market
Size Estimation
2.6. Assumption
For The Study
2.7. Market
Breakdown & Data Triangulation
3. Executive
Summary
4. Global Castor
Oil & Derivatives Insights
4.1. DROC Analysis
4.1.1.
Growth Drivers
4.1.2.
Restraints
4.1.3.
Opportunities
4.1.4.
Challenges
4.2. Technological
Landscape/Recent Developments
4.3. Regulatory
Framework
4.4. Company Market
Share Analysis,2019
4.5. Porter’s Five Forces
Analysis
4.5.1.
Bargaining Power of Suppliers
4.5.2.
Bargaining Power of Buyers
4.5.3.
Threat of New Entrants
4.5.4.
Threat of Substitutes
4.5.5.
Intensity of Rivalry
5. Global Castor Oil & Derivatives Market
Overview
5.1. Market Size &
Forecast By Value, 2016-2026
5.1.1.
By Value (USD Million)
5.2. Market
Share & Forecast
5.2.1. By Product
5.2.1.1.
Sebacic Acid
5.2.1.2.
12-HSA
5.2.1.3.
Ricinoleic Acid
5.2.1.4.
Hydrogenated castor Oil
5.2.1.5.
Undecylenic acid
5.2.1.6.
Dehydrated Castor Oil
5.2.1.7.
Others
5.2.2. By Application
5.2.2.1.
Lubricants
5.2.2.2.
Surface Coatings
5.2.2.3.
Biodiesel
5.2.2.4.
Cosmetics & Pharmaceuticals
5.2.2.5.
Plastics & Resins
5.2.2.6.
Others
5.2.3. By Region
5.2.3.1.
North America
5.2.3.2.
Europe
5.2.3.3.
Asia Pacific
5.2.3.4.
Latin America
5.2.3.5.
Middle East & Africa
6. North America Castor Oil & Derivatives Market
6.1. Market Size &
Forecast By Value, 2016-2026
6.1.1.
By Value (USD Million)
6.2. Market
Share & Forecast
6.2.1.
By Product
6.2.2.
By Application
6.2.3.
By Country
6.2.3.1.
United States
6.2.3.2.
Canada
7. Europe Castor Oil & Derivatives Market
7.1. Market Size &
Forecast By Value, 2016-2026
7.1.1.
By Value (USD Million)
7.2. Market
Share & Forecast
7.2.1.
By Product
7.2.2.
By Application
7.2.3.
By Country
7.2.3.1.
Germany
7.2.3.2.
United Kingdom
7.2.3.3.
France
7.2.3.4.
Italy
7.2.3.5.
Spain
7.2.3.6.
Rest of Europe
8. Asia Pacific Castor Oil & Derivatives Market
8.1. Market Size &
Forecast By Value, 2016-2026
8.1.1.
By Value (USD Million)
8.2. Market
Share & Forecast
8.2.1.
By Product
8.2.2.
By Application
8.2.3.
By Country
8.2.3.1.
China
8.2.3.2.
India
8.2.3.3.
Japan
8.2.3.4.
South Korea
8.2.3.5.
Rest of Asia Pacific
9. Latin America Castor Oil & Derivatives Market
9.1. Market Size &
Forecast By Value, 2016-2026
9.1.1.
By Value (USD Million)
9.2. Market
Share & Forecast
9.2.1.
By Product
9.2.2.
By Application
9.2.3.
By Country
9.2.3.1.
Brazil
9.2.3.2.
Mexico
9.2.3.3.
Argentina
9.2.3.4.
Rest of Latin America
10.Middle East & Africa Castor Oil & Derivatives Market
10.1.
Market Size & Forecast By Value, 2016-2026
10.1.1.
By Value (USD Million)
10.2.
Market Share & Forecast
10.2.1.
By Product
10.2.2.
By Application
10.2.3.
By Country
10.2.3.1.
Saudi Arabia
10.2.3.2.
UAE
10.2.3.3.
South Africa
10.2.3.4.
Rest of Middle East and Africa
11.Company Profile (Company Overview, Financial Matrix, Product
landscape, Key Personnel, Key Competitors, Contact Address, and Strategic
Outlook)*
11.1.
Thai Castor Oil Industries Co. Ltd.
11.2.
ITOH Oil Chemicals Co., Ltd.
11.3.
Jayant Agro-Organics Limited
11.4.
Hokoku Corporation
11.5.
RPK Agrotech
11.6.
Taj Agro Products Limited
11.7.
Tongliao Tonghua Castor Chemical Co., Ltd.
11.8.
Xingtai Lantian Fine Chemical Co., Ltd.
11.9.
N.K. Proteins Pvt Limited
11.10.
Adani Wilmar Ltd.
11.11.
Kanak Castor Products Pvt. Ltd.
11.12.
Liaoyang Huaxing Chemical Co., Ltd.
11.13.
Gokul Agri International Ltd.
11.14.
Girnar Industries
11.15.
BOM Brasil Óleo de Mamona Ltda
11.16.
Enovel
11.17.
Arkema
11.18.
Ambuja Solvex Pvt. Ltd.
11.19. Other Prominent Players
*Financial Details will be captured as per
data availability in case of unlisted companies.
**The
user segmentation and the companies are subjected to modifications based on the
in-depth secondary for the final deliverable.
Market Segmentation
By Product
Ø Sebacic Acid
Ø 12-HSA
Ø Ricinoleic Acid
Ø Hydrogenated castor Oil
Ø Undecylenic acid
Ø Dehydrated Castor Oil
Ø Others
By Application
Ø Lubricants
Ø Surface Coatings
Ø Biodiesel
Ø Cosmetics & Pharmaceuticals
Ø Plastics & Resins
Ø Others
By Region:
Ø North America
Ø Europe
Ø Asia Pacific
Ø Latin America
Ø Middle East & Africa
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