Press release
Castor Oil Derivatives Market Size, Status, Growth & Outlook | 2022-2031
Castor oil is a vegetable oil derived from the seeds of the castor plant (Ricinus Communis). It's a pale yellow liquid with a distinct smell and taste. Ricinoleic acid (an omega-9 fatty acid), a monounsaturated fatty acid, accounted for 85-95% of castor oil's total fatty acid content. Castor oil derivatives are substances formed from castor oil through a variety of chemical reactions or changes. The castor oil derivatives market is driven by its wide range of uses in industries such as cosmetics, pharmaceuticals, and manufacturing.
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The global castor oil derivatives market is analyzed across product type, end use industry, and region. The report takes in an exhaustive analysis of segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
Based on product type, the sebacic acid segment contributed to nearly one-third of the global castor oil derivatives market revenue in 2021, and is expected to dominate by 2031. The hydrogenated castor oil segment, on the other hand, would showcase the fastest CAGR of 5.3% throughout the forecast period. The manual beds segment is also assessed in the study.
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Based on end-use industry, the personal care and beauty care segment accounted for around one-third of the total market revenue in 2021, and is expected to dominate by 2031. The lubricants segment, simultaneously, would cite the fastest CAGR of 5.3% throughout the forecast period.
Based on region, the market across Asia-Pacific generated nearly two-fifths of the total market revenue in 2021, and is anticipated to retain the lion's share by 2031. The same region would also showcase the fastest CAGR of 5.5% during the forecast period. The other regions studied in the report include North America, LAMEA, and Europe.
The key market players analyzed in the global castor oil derivatives market report include Hokoku Corporation, Kanak Castor Products, Girnar Industries, Gokul Agri International, Vertellus, NK Industries Ltd, Xingtai Lantian Fine Chemicals Ltd., Krishna Antioxidant Pvt. Ltd., Kokura Gosei Kogyo Ltd., ITOH Oil Chemical Ltd., Jayan Agro Organics Ltd., Adani Wilmar, Thai Castor Oil Industries Ltd., Sebacic India Pvt. Ltd., and Arvali Castor Derivatives Pvt. Ltd. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.
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