“Global Castor
Oil & Derivatives Market Analysis & Opportunity Outlook 2021”
The global castor oil &
derivatives market is segmented into product type such as undecylenic acid,
castor wax or hydrogenated castor oil, sebacic acid, dehydrated castor oil and
others. Among these segments, sebacic acid segment is expected to witness significant
growth over the forecast period. The growth of sebacic acid segment can be
attributed to wide scale industrial applications of sebacic acid and use of sebacic
acid as an intermediate for aromatics, antiseptics, and painting materials.
Global castor
oil & derivatives market is expected to grow at noteworthy
CAGR over the forecast period to reach at notable revenue of USD 2.0 Billion by
the end of 2021. The market is expected to expand on the back of a number of
factors such as easy availability of castor seeds and growing demand for
bio-degradable products. Furthermore, growing demand for castor oil for bio-diesel
production is predicted to escalate the growth of global castor oil market in
upcoming years. Additionally, India & Brazil are the major producers of
castor oil.
The cosmetics and
pharmaceutical industry segments by end user are likely to grow at 5.0% during
the forecast period. Growing use of castor oil in preparation of soap and hair
oil is a key factor which is estimated to spur the growth of these segments in upcoming
years. Additionally, incredible health benefits of castor oil are major factors
which are increasing the demand for castor oil and its derivatives in
pharmaceutical industries.
Health Benefits of
Castor Oils
Castor oil offers a number of health benefits such as
increased immunity, treat constipation, revive joint pains and prevent moles
and cysts. Further, health advantages of castor oil are likely to be the major
factors which are driving the growth of global castor oil &
derivatives market. Furthermore, growing use of castor oil for skincare is also
enhancing the growth of global castor oil & derivatives market.
Wide Scale
Applications of Castor Oil & Derivatives
Castor oil & derivatives
are used in various industries including agriculture, electronics &
telecommunications, food industry, textile chemicals and pharmaceutical
industries. Some of the major
applications of Castor oil are specialty soaps, surface coating, cosmetics
& personal care products, perfumes and others.
Although, increasing prices of raw materials such as
castor seeds along with availability of low price alternative renewable
chemicals are some of the factors that are likely to inhibit the growth
of the castor
oil & derivatives market in the near future.
The
report titled “Castor
Oil & Derivatives Market Global market Analysis & Opportunity Outlook
2021” delivers
detailed overview of the global castor oil & derivatives market in terms of
market segmentation by product type, by end-users and by region.
Further,
for the in-depth analysis, the report encompasses the industry growth drivers,
restraints, supply and demand risk, market attractiveness, BPS analysis and
Porter’s five force model.
This report also provides the
existing competitive scenario of some of the key players of the global castor
oil & derivatives market which includes company profiling of ITOH Oil Chemicals Co. Ltd., Taj Agro Products, NK
Proteins, Adani Group, Bom Brazil, Tongliao TongHua Castor Chemical Co. Ltd.,
RPK Agrotech, Arvalli Castor Derivatives Pvt
Ltd. and Jayant Agro-Organics Ltd. The profiling enfolds key
information of the companies which encompasses business overview, products and
services, key financials and recent news and developments. On the whole, the
report depicts detailed overview of the global castor oil & derivatives market
that will help industry consultants, equipment manufacturers, existing players
searching for expansion opportunities, new players searching possibilities and
other stakeholders to align their market centric strategies according to the
ongoing and expected trends in the future.
About Research
Nester
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries,
conglomerates and executives to take wise decisions for their future marketing
strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision so as to avoid future uncertainties.
Read more Information: https://www.researchnester.com/reports/castor-oil-derivatives-market-global-market-analysis-opportunity-outlook-2021/128
Contact for more Info:
Ajay
Daniel
U.S.
+1 646 586 9123
U.K.
+44 203 608 5919
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