Dublin, July 07, 2023 (GLOBE NEWSWIRE) -- The "Global Castor Oil Market (by Type, Application & Region): Insights & Forecast with Potential Impact of COVID-19 (2023-2027)" report has been added to ResearchAndMarkets.com's offering.
The global castor oil market is forecasted to reach US$1.61 billion in 2027, experiencing growth at a CAGR of 4.31%, during the period spanning from 2023 to 2027.
Factors such as growing population, mounting utilization in biodiesel feedstock, rising inclination towards organic and plant-based cosmetic products, accelerating use in pharmaceuticals industry, escalating application of castor oil in various end-use industries and rising awareness about numerous advantages of castor oil as well as its derivatives are likely to drive the market growth.
However, the market growth would be challenged by geographically limited production of castor seeds, labor intensive harvesting process of castor crop and unstable prices of castor oil. The market is anticipated to experience certain trends like increasing consumption of bioplastics, rapid adoption of castor oil in food industry and surging demand for lubricants.
The global castor oil market can be segmented on the basis of type and application. On the basis of type, the market can be segmented into hydrogenated castor oil, cold pressed castor oil, Jamaican black castor oil, dehydrated castor oil and others. Whereas, the global castor oil market is categorized into cosmetics & pharmaceuticals, lubricants, surface coatings, biodiesel, plastics & resins and others, based on the applications.
India is the largest exporter of castor oil, exporting mainly to the following countries: China, Netherlands, the U.S., France, Japan and other countries. China, on the other hand, is the largest importer of castor oil, globally, as castor oil is an essential bio-based raw material which makes it ideal for various industrial applications.
Companies Mentioned
- Adani Wilmar Limited
- Gokul Agro Resources Limited
- Jayant Agro-Organics Limited
- N K Industries Limited
- Liaoyang Huaxing Chemical Co., Ltd.
- R.P.KAgrotech Exports Pvt Ltd.
Scope of the report:
- The report provides a comprehensive analysis of the global castor oil market segmented on the basis of type, application, exports, imports and region with potential impact of COVID-19.
- The major countries such as India, the U.S., China and Brazil have been analyzed.
- The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
Key Topics Covered:
1. Market Overview
2. Impact of COVID-19
3. Global Market Analysis
3.1 Global Castor Oil Market by Value
3.2 Global Castor Oil Market Forecast by Value
3.3 Global Castor Oil Market by Type
3.3.1 Global Hydrogenated Castor Oil Market by Value
3.3.2 Global Hydrogenated Castor Oil Market Forecast by Value
3.3.3 Global Cold Pressed Castor Oil Market by Value
3.3.4 Global Cold Pressed Castor Oil Market Forecast by Value
3.3.5 Global Jamaican Black Castor Oil Market by Value
3.3.6 Global Jamaican Black Castor Oil Market Forecast by Value
3.3.7 Global Dehydrated Castor Oil Market by Value
3.3.8 Global Dehydrated Castor Oil Market Forecast by Value
3.4 Global Castor Oil Market by Application
3.4.1 Global Castor Oil Cosmetics and Pharmaceuticals Market Forecast by Value
3.4.2 Global Castor Oil Lubricants Market Forecast by Value
3.4.3 Global Castor Oil Surface Coatings Market Forecast by Value
3.4.4 Global Castor Oil Biodiesel Market Forecast by Value
3.4.5 Global Castor Oil Plastics and Resins Market Forecast by Value
3.5 Global Castor Oil Market Volume
3.6 Global Castor Oil Market Volume Forecast
3.7 Global Castor Oil Exports by Country
3.8 Global Castor Oil Imports by Country
4. Country Market Analysis
5. Market Dynamics
5.1 Growth Drivers
5.1.1 Growing Population
5.1.2 Mounting Utilization in Biodiesel Feedstock
5.1.3 Rising Inclination towards Organic and Plant-Based Cosmetic Products
5.1.4 Accelerating Use in Pharmaceutical Industry
5.1.5 Escalating Application in Various End-Use Industries
5.1.6 Rising Awareness about Castor oil and Its Derivatives
5.2 Key Trends and Developments
5.2.1 Increasing Consumption of Bioplastics
5.2.2 Rapid Adoption in Food Industry
5.2.3 Surging Demand for Lubricants
5.3 Challenges
5.3.1 Geographically Limited Production of Castor Seeds
5.3.2 Labor Intensive Harvesting Process
5.3.3 Unstable Prices of Castor Oil
6. Competitive Landscape
6.1 India Market
6.1.1 India Castor Oil Market Volume Share by Key Players
7. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/6gqui0
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