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Castor Oil Derivatives Market Report by Technology, Industry Share and Size Expansion to 2026 | Fortune Business Insights™
Castor Oil Derivatives Market Report by Technology, Industry Share and Size Expansion to 2026 | Fortune Business Insights™
CastorOil Derivatives Market will exhibit a CAGR of 4.3% during the forecastperiod., and reach USD 1,429.7 million by 2027, and the Market valueas per 2019 was USD 1,035.4 million.

Castor Oil Derivatives Market Size, 2020 Industry Share and Global Demand | 2027 Forecast by Fortune Business Insights

CastorOil Derivatives Market will exhibit a CAGR of 4.3% during the forecastperiod., and reach USD 1,429.7 million by 2027, and the Market valueas per 2019 was USD 1,035.4 million.

FortuneBusiness Insights™ in a new report, titled, “Castor OilDerivatives Market Size, Share & COVID-19 Impact Analysis, ByProduct Type (Sebacic Acid, Ricinoleic Acid, Hydrogenated Castor Oil,12-Hydroxy Stearic Acid, Dehydrated Castor Oil and Others), Application(Cosmetic & Pharmaceuticals, Plastic & Resins, Lubricants, Biodiesel,and Others) and Regional Forecast, 2020-2027.”

Castor Oil Derivatives Market Drivers and Restraint:

Diverse Application of Castor Oil is Driving the Growth of Market

Becauseof the unique fatty acid structure, castor oil and its derivatives offer vastadvantages as compared to other vegetable oils. Applications of oils derivedfrom cotton, coconut, soy, corn, rapeseed are limited mostly to ediblepurposes. Castor oil derivatives are renewable, natural, and versatile inphysicochemical properties. Thus, these products are preferred as a key rawmaterial in multiple applications including lubricants, oleo-chemicals,medical, cosmetics, pharmaceuticals, bio-energy among others. Owing to therising importance of green chemicals globally, the market is expected toindicate stable growth in the forthcoming years. 

RESTRAINING FACTORS:

Wavering Prices of Raw Materials to Restrain Growth

Castoroil is a prime feedstock for the production of its derivatives. The castor oilyield is highly dependent on conditions such as temperature, light, rainfall,soil characteristics, latitude, altitude among others. Depending on the yield,the price of castor oil is decided. The unstable prices affect downstreamproduction and demand of castor oil derivatives, thus reducing profit margins.However, with the rapid adoption of modern agricultural practices backed bygovernment policies will elevate the business of oils in the near future.

 

List of Key Players Covered in the Castor Oil DerivativesMarket Report:

  • Hengshui Jinghua Chemical Co., Ltd. (China)
  • N.K. Proteins Pvt. Ltd. (India)
  • Thai Castor Oil Industries Co. Ltd. (Thailand)
  • Sebacic India Pvt. Ltd. (India)
  • HOKOKU Co. Ltd. (Japan)
  • Adani Wilmar Ltd. (India)
  • Gokul Agri International Ltd. (India)
  • RPK Agrotech (India)
  • Arvalli Castor Derivatives Pvt Ltd. (India)
  • Krishna Antioxidants Pvt. Ltd. (India)

 

 

 To gain more insights into the market with a detailed tableof content and figures, Click Here: https://www.fortunebusinessinsights.com/industry-reports/castor-oil-market-100537

 Some of the key industry developments in the Castor OilDerivatives Market Include:

February 26, 2016: India based ShipraAgrichem invested around US$ 62.7 million to develop the first sebacic acidplant in Oman. The plant capacity is 30-kilo tons per year and the producedquantities are aimed to export to Europe, China, Japan, and the UnitedStates.