Castor Wax Market Major Players: Hokoku Corp, BOM, Frank B. Ross & Others by 2023

Global Castor Wax Market research report published by Market Research Future sharing details on Market Analysis, new Technology, Scope, Stake, Progress, Trends and Forecast up to 2023.

Castor Wax Market- Top 10 Global key Players & Their Strategy
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).

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Global Castor Wax Market research report spread across 135 Pages consist 45 Tables and 11 Figures also include Top 10 Global key players that sharing latest types, technology, application by 2023.

Castor Wax Market– Market Overview / Study Objective / Synopsis

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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Castor Wax Market – Competitive 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.

Castor Wax Market – Segmentation Analysis

The global castor wax market has been broadly segmented on the basis of 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.

Castor Wax Market – Regional Analysis

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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