Castor Oil and Derivatives Market Report 2020-2027

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Castor Oil and Derivatives Market by
Product, Competitive Market Share Forecast,
2020-2026
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Industry Trends Forecast Report 2027 Global
Castor Oil Derivatives Market witness market
size of USD 752.5 Million in 2019 and estimated
to reach USD 1195.17 Million by 2026 with a
significant CAGR of 6.83 during the forcast
period 2020-2026.. Increasing demand of castor
oil from several industries (biodiesel,
lubricants, etc.) and the increasing need of
biodegradable and sustainable products is
expected to uplift the global castor oil and
derivatives. Due  to the growing awareness about
greenhouse gases and deforestation, the demand
for alternative feedstock is growing. The
contionous availability and renewability of
caster oil is expected to deliver ecological
demand contributing to the market growth.
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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.
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Restraints 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.
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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.
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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.
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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. Sample Copy https//www.blueweavecons
ulting.com/castor-oil-and-derivatives-market-bwc20
028/report-sample
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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.
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