Press release
Rising Investment In Research & Development To Expand The Castor Oil And Derivatives Application Base Is Anticipated To Boost Castor Oil And Derivatives Market Demand Till 2024
The market is estimated to witness a high growth owing to increase in demand for biodegradable products and increasing trend to reduce dependence on petrochemicals are expected to foster the market growth.
Asia Pacific dominated the overall market. Growth in end-use markets such as personal care, lubricants, and pharmaceuticals is presumed to fuel the regional demand over the next eight years.
Easy availability of castor seed is presumed to contribute to the regional industry development. Rising demand for renewable sources is estimated to fuel the market consumption. Thus, Asia Pacific is projected to witness rapid growth over the forecast period.
Advancements and innovation to develop better quality product have been important strategies implemented by major companies. The market vendors have been heavily investing in research & development to create novel applications and gain competitive advantage.
Further key findings from the report suggest:
• The global castor oil and derivatives market demand was 718.5 kilo tons in 2015 and is expected to reach 1,085.2 kilo tons by 2024, growing at a CAGR of 4.7% from 2016 to 2024
• Undecylenic acid emerged as the leading product segment and accounted for 26.5% of total market volume in 2015. Castor wax product segment is projected to witness the highest growth of 5.5% from 2016 to 2024. It’s increasing penetration in coatings and cosmetics industries is expected to drive this segment over the forecast period.
• Cosmetics and pharmaceuticals were the leading application segment and accounted for 30.0% of total demand in 2015. Growing demand for environmental friendly products in cosmetics and pharmaceuticals industry is expected to drive this segment over the forecast period.
• Asia Pacific had the highest regional market penetration and accounted for over 57.5% of global demand in 2015. The increase in demand for sustainable and renewable resources is presumed to fuel the regional growth.
• Key market participants include RPK Agrotech, NK Proteins, Adani Group, Xingtai Lantian Fine Chemical Company, Hokoku Corporation, Kanak Castor Products Pvt. Ltd., Enovel, Gokul Overseas, Jayant Agro Organics, ITOH Oil Chemicals Co. Ltd., Taj Agro Products, Tongliao Tong Hua Castor Chemical Co. Ltd., Liaoyang Huaxing Chemical Co., Ltd., Thai Castor Oil Industries Co. Ltd., and Bom Brazil.
Grand View Research has segmented the global castor oil and derivatives market on the basis of product, application, and region:
Castor Oil And Derivatives Product Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2024)
• Sebacic Acid
• Ricinoleic Acid
• Undecylenic Acid
• Castor Wax
• Dehydrated Castor Oil
• Others
Castor Oil And Derivatives Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2024)
• Lubricants,
• Surface Coatings
• Biodiesel
• Cosmetics & Pharmaceuticals
• Plastics & Resins
• Others
Castor Oil And Derivatives Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2024)
• North America
o U.S.
• Europe
o Germany
• Asia Pacific
o China
o India
o Japan
o France
o UK
• Middle East & Africa
• Central & South America
o Brazil
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Press Contact
Sherry James - Corporate Relations Specialist
28 2nd Street, Suite 3036
San Francisco, CA 94105
United States
Phone: 1-415-349-0058
Email: sales@grandviewresearch.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Rising Investment In Research & Development To Expand The Castor Oil And Derivatives Application Base Is Anticipated To Boost Castor Oil And Derivatives Market Demand Till 2024 here
News-ID: 355408 • Views: …
More Releases from Grand View Research, Inc.
Generative AI Market Size, Share, And Industry Outlook Report, 2030
Generative AI Market Growth & Trends
The global generative AI market size is anticipated to reach USD 109.37 billion by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 37.6% from 2025 to 2030. Growing demand to modernize workflow across industries is expected to drive the demand for generative AI applications among industries. Other factors that propel the market growth include the evolution of AI…
Maternal Mental Health Market To Reach $45.72 Billion By 2030 | Therapy Mama, Ca …
The global maternal mental health market size is expected to reach USD 45.72 billion by 2030, growing at a CAGR of 28.43%, according to a new report by Grand View Research, Inc. Maternal mental health issues are a global concern that affects women of various countries and cultures. It refers to the emotional well-being of women during the pregnancy and postpartum period. The market is driven by the increasing incidence…
Downstream Processing Market Size, Share & Trends Analysis Report, 2030
The global downstream processing market size is expected to reach USD 94.79 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 14.84% from 2023 to 2030. The capacity requirements during the development of biologic drugs have changed over the past few years, wherein the demand for manufacturing high-volume products has shifted to developing small-volume, high-potency…
Electric Mobility Industry: E- Light Commercial Vehicle Thereby Contributing To …
The global electric mobility industry size stood at USD 101.67 billion in 2022 and will exhibit a CAGR of 19.9% from 2023 to 2030, according to the "Electric Mobility Industry Data Book, 2023 - 2030," published by Grand View Research. The growth comes on the back of an exponential rise in smart cities and a gradual uptick in charging infrastructure. Further, the strong outlook of electric mobility will rely on the launch…
More Releases for Castor
Castor Bean Market Hits New High | Major Giants Gokul Refoils, Jayant Agro, NK P …
HTF MI just released the Global Castor Bean Market Study, a comprehensive analysis of the market that spans more than 143+ pages and describes the product and industry scope as well as the market prognosis and status for 2025-2032. The marketization process is being accelerated by the market study's segmentation by important regions. The market is currently expanding its reach.
Major companies profiled in Castor Bean Market are: Gokul Refoils, Jayant…
Castor Oil Market Research Report 2029
Castor Oil Market Size
The global Castor Oil Market revenue was US$ 1325.9 million in 2022 and is forecast to a readjusted size of US$ 1612.4 million by 2029 with a CAGR of 2.8% during the forecast period (2023-2029).
Get Free Sample @ https://reports.valuates.com/request/sample/QYRE-Auto-9I16076/Global_and_India_Castor_Oil_Market_Report_Forecast_2023_2029
Castor oil is is a pale yellow vegetable oil that is extracted from castor seeds. Castor oil is mainly used in preservative, medicine, lubrication etc.
Currently, India is the largest…
Castor Oil Market Overview Key Trends Competitive Landscape till 2028 | Castor O …
(Latest Industry Report 2022) Castor Oil Market report provides a basic overview of the industry including definitions and classifications. The market analysis is provided for the international markets including development trends, competitive landscape analysis, and key regions development status. The study provides a complex examination of the application, including a detailed cost assessment analysis of the products available in the global market with respect to the profit margins of established…
Castor Oil Market Unidentified Segments – The Biggest Opportunity Of 2020 | Am …
The Global Castor Oil Market has witnessed continuous growth in the past few years and is projected to grow even further during the forecast period (2019-2027). The assessment provides a 360° view and insights, outlining the key outcomes of the industry. These insights help the business decision-makers to formulate better business plans and make informed decisions for improved profitability. In addition, the study helps venture or private players in understanding…
Castor Oil & Derivative Market || Key Players - The Castor Oil Industries Ltd, A …
The expanding database of Market Research Reports Search Engine (MRRSE) has been recently updated by the addition of a new study which is titled as “Castor Oil & Derivative Market - Analysis Covering Size, Share, Growth, Trends and Forecast till 2026”. The fact-based research report on the global Castor Oil & Derivative market covers various aspects such as trends, drivers, challenges and opportunities that have an influence on the growth…
Castor Market 2023 Global Analysis By key Players – Gokul Refoils and Solvent …
Global Castor Market Report added by MarketstudyReport.com offers industry size, share, growth, trends and forecast analysis up to 2023. Castor Market Report also covers top key players, porter’s five forces analysis and market segmentation in detail. This report examines the global Castor market and provides information regarding the revenue for the period 2018 to 2023.
Request a sample of this premium report at: https://www.marketstudyreport.com/request-a-sample/1154679
Castor bean is the fruits…
