Castor Oil Market

Castor oil is the only source of hydroxylated fatty acid that has a great amount of demand as a feedstock in different related industries. Castor oil is composed of 90% of ricin oleic acid, which is an important element for using in pharmaceutical industries. Castor oil is widely used in industries like personal care, food and beverage, pharmaceuticals, lubricant, fuel and others.

Castor Oil Market Size and Growth Rate:

As per the latest reports published by Research Cosmos, Castor Oil Market was valued at USD xx million in 2017 and projected to reach USD xx million by 2021 growing at a CAGR of xx% during the forecast period 2017 to 2021.

Castor Oil Market Growth Challenges, Drivers and Restraints:

On account of its distinctive chemical structure, castor oil acts as a major raw material in the production of various end products such as biodiesel, polyurethane adhesives, machining oils, refrigeration lubricants, etc. It is becoming an essential bio-based raw material which makes it ideal as a potential alternative to petroleum-based chemicals. It is used in packaging, flavouring and as a viscosity additive in the food and beverage industry. Further, it is used as an anti-inflammatory agent in the pharmaceutical industry in the form of ricin oleic acid which is a constituent of the castor oil. In the fuel industry, castor oil is determined as the best biofuel available and in the lubrication industry it serves as a strong lubricant for aircrafts, jet engines, etc. All these factors are expected to help the market grow in the near future.

Being a clean-burning, biodegradable, and renewable fuel, the demand for biodiesel is increasing across the globe as a better replacement for petroleum or diesel. A majority of governments are encouraging the use of biodiesel as a substitute for conventional, air-polluting fuels such as petroleum and diesel.

Castor Oil Market – Geographical Presence:

Geographically, the Castor Oil Market is segmented into North America, Asia Pacific, Europe, and Middle East and Africa. Asia Pacific region is estimated to contribute around 46.7% market share as it is the major consumer of castor oil in the world. 

Leading Market Players of Castor Oil Market Profiled in the report are:

1. NK Proteins
2. Jayant Agro Organics
3. Ambuja
4. Adani Group
5. RPK Agrotech
6. Gokul Overseas
7. Kanak
8. Adya Oil
9. Taj Agro Products
10. Girnar Industries
11. Bom Brazil
12. Kisan

Detailed Segmentation of Castor Oil Market:

Castor Oil Market Analysis – By Product:

• Food Grade
• Pharmaceutical/Cosmetic Grade
• Industry Grade

Castor Oil Market Analysis – By End Users/Applications:

• Food Industry
• Pharmaceuticals and Cosmetics Industry
• Industrial

Castor Oil Market Analysis – By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa