Global Castor Oil Market || Adani Wilmar Limited, The Chemical Company, Arvalli Castor Derivatives Pvt Ltd., Girnar Industries, Sunny Isle, Sree Rayalaseema Alkalies & Chemical Ltd.

Castor oil is a vegetable oil that is extracted from the seeds of the castor oil plant which is also known as “Ricinus Communis”. It is a multi-purpose vegetable oil sourced from castor beans which are primarily found in the tropical areas of Africa and Asia. It is an active ingredient with pale yellow, translucent texture and a mild odour. Castor oil has antimicrobial, anti-inflammatory and moisturising properties and thus, is considered safe for skin and hair. Due to this, castor oil remains a popular choice among consumers to naturally treat their common conditions like constipation as well as skin problems. Apart from this, it also finds major applications in the industrial sector for the processing of a wide variety of products.

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Castor oil is becoming an essential bio-based raw material making it a major factor driving the growth of the global castor oil market. In addition, due to its distinctive chemical structure, castor oil acts as a major raw material used in the production of various end products such as biodiesel, machining oils, etc. which is boosting the global market growth. Furthermore, as compared to other vegetable oils, castor oil is a healthier and less expensive alternative. Due to this, global market has gained a momentum in the food industry in the form of flavourings, mould inhibitor, food additives, and packaging. Moreover, wide applications in the chemical, cosmetic, and personal care industries are increasing the demand for castor oil, which is expected to drive revenue growth of the global market over the forecast period. However, the global market is being hindered by the unstable prices of castor beans which is the result of their fluctuating supply. This supply highly depends upon the weather conditions of the region and a long harvesting process of castor beans.

The global castor oil market is segmented into product types, application, and region. Based on the product types, the global market is sub-divided into cold pressed castor oil, hydrogenated castor oil, jamaican black castor oil, dehydrated castor oil, and others. On the basis of application, the target market is bifurcated into Pharmaceuticals, Cosmetics, Lubricants, Surface Coatings, Plastics & Resins, and others.

On the basis of region, the global castor oil is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific market is holding the major revenue share in the global castor oil and is expected to maintain its dominance over the forecast period. Growing end-use industries such as personal care, lubricants, and lubricants in the region are expected to be a major factor driving Asia pacific target market. The Asia Pacific accounts for the largest revenue share contribution of the target market, followed by markets in Europe, North America, Latin America, and the Middle East & Africa respectively.

Key player in the global castor oil market are Adani Wilmar Limited, The Chemical Company, Arvalli Castor Derivatives Pvt Ltd., Girnar Industries, Sunny Isle, Sree Rayalaseema Alkalies & Chemical Ltd., Adya Oils & Chemicals Ltd., R.P.K. Agrotech Exports Pvt. Ltd., Cockney Finestyle, LLC, Tongliao Tonghua Castor Chemical Co., Ltd., Purerzan Jamaica, BDI Enterprises, LLC.

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This release was published on openPR.