Castor Wax Market Share 2019: Jayant Agro-Organics limited, Liaoyang Huaxing Chemical group corp., Hokoku Corporation, BOM Brasil Oleo De Mamona Ltda., Enovel, and Frank B. Ross Co. Inc.

Castor Wax Market Information by Applications (Personal Care, Healthcare, Lubricants, Grease, Wood Polishing, Automotive polishing, and others), by End-Use Industries (Cosmetics & Personal Care Industry, Paints & Coatings Industry, Pharmaceuticals, Automotive Industry, Textile Industry, Leather Industry, Paper Industry), and by Region. Castor wax find its applications in divers’ sectors namely from household to the industrial applications it has found its way into various industries.

There is still much more to explore about its ever-increasing applications over synthetic waxes. Among other applications of castor wax, their use as a lubricant, grease, polishing agent, heat sealing adhesives is leading the market at present, particularly in Asia Pacific. It is anticipated that in the coming years castor wax will see sharp rise in demand in cosmetics and personal care industry. Followed by personal care, healthcare and food & beverages would help push the growth of the market further. This trend is likely to continue for the entire forecast period. In addition to this, the growing sentiments in favor of the use of oleo chemicals is poised to boost the market of castor wax. Asia Pacific is anticipated to remain the largest producer and emerge as lading consumer of castor wax in the coming years.

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Global Key Players and Competition Analysis

Key players in the global castor wax market are Jayant Agro-Organics limited (India), Gokul Refoils and Solvent limited (India), Adya oils and chemicals limited (India), Liaoyang Huaxing chemicals group corp. (India), Hokoku Corporation (China), BOM Brasil Oleo De Mamona (Brazil), Enovel (Brazil), Frank B. Ross Co. Inc. (US).

The study was conducted using objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to SWOT analysis of key vendors.

Segmentation Analysis

The global castor wax market has been broadly segmented based on applications, end use industries, and region. Based on applications the market is segmented into personal care, healthcare, lubricants, grease, polishing agent, and others. Wherein lubricants and grease dominated the market till 2016, particularly in Asia Pacific. In future, during the forecast period, personal care and healthcare are expected to drive the market forward.

Additionally, characteristic features of castor wax such as emulsifier, plasticizer, dispersing agent make them the most preferred ingredient in cosmetics & personal care industry and paints industry as well. The understanding of masses regarding the vast and ever-increasing uses of castor wax is growing swiftly which help boost its demand during forecast period. Strict regulations by developed countries against the use of synthetic waxes in various application such as personal care and food coating would see the rise in the global market of castor wax.

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Regional Analysis

Asia Pacific is leading the global castor oil market. It accounts for more than 50% of its global market share as of 2016. Throughout the forecast period the region is expected to remain dominant. The largest installed capacity of castor wax production and leading cultivator of castor seed in India and China are the propellants of regional market. Apart from that, growing applications of castor wax in cosmetics and personal care, pharmaceuticals, and food industries in the region would be the drivers of growth in the region. The present demand of castor wax in making bio-lubricants and grease, in the region, is also anticipated to grow further during the forecast period.

Western Europe is the second largest market for castor wax, followed by Asia Pacific. The regional growth of the market is driven by demand from end use industries namely cosmetics and pharmaceuticals. UK and Germany are expected to lead the regional market owing to increasing industrial and household applications. Latin America stands third in the global castor wax market with Brazil accounting for more than 70% of regional market share. North America comes third in terms of market size of castor wax in the world. Wherein, USA is the leader followed by Canada. Lastly, other regional markets such as Middle East, Africa, and Eastern Europe are expected join the hands with present leading regional markets to take the global castor wax market ahead during forecast period and even after that.

Market Scope
Over the years the demand for castor wax has seen upward trend. The understanding of the masses about the vast & ever-increasing use of castor wax is still growing which can help to increase its demand in coming years. The present scenario of green chemistry and eco-friendliness around the world would benefit the market of castor wax from growing further.

Browse the market data and information spread across 140 pages with 35 data tables and 11 figures of the report “Castor Wax Market Research Report – Global Forecast to 2023” in-depth alongside table of content (TOC) at: http://bit.ly/2WFeFDj

Industry News:
August 7, 2017, Market Research Future published a Half-Cooked Research Report on Castor Wax Market.

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