The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Rising demand for beauty goods is likely to promote innovation in the production of castor oil and derivatives, propelling the market during the forecast period.

The global castor oil and derivatives market is expected to grow from $1.24 billion in 2022 to $1.32 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The global castor oil and derivatives market size is expected to reach $1.66 billion in 2027 at a CAGR of 5.86%.

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Global Castor Oil And Derivatives Market Segments Include:

• By Product: 12-HAS, Dehydrated Castor Oil, Hydrogenated Castor Oil, Ricinoleic Acid, Sebacic Acid, Undecylenic Acid
• By Grade: Pale Pressed Grade, First Special Grade (FSG), Commercial Grade, First Pressed Degummed Grade Castor Oil, British Pharma Grade (BPG), Other Grades
• By Application: Lubricants, Cosmetics and Pharmaceuticals, Biodiesel, Plastics and Resins, Other Applications
• By End-Use Industry: Healthcare, Cosmetics And Personal Care, Food Industry, Aerospace And Defense, Automotive, Electrical And Electronics, Other End-Use Industries
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global castor oil and derivatives market in 2021.

Major Market Players in the castor oil and derivatives market include Rpk Agrotech Exports Pvt Ltd., Adani Wilmar Limited, Hokoku Corporation, Taj Agro Products Limited, Girnar Industries, Kanak Castor Products Pvt. Ltd.,, N.K. Proteins Pvt. Limited.

Product innovations are a hot trend in the castor oil and derivatives market. To maintain their market position, major players in the castor oil and derivatives industry are focusing on generating novel goods. For example, Hennes & Mauritz AB (H&M Group), a Swedish apparel manufacturer, introduced the Innovation Stories platform in March 2021, which includes a series of themed collections committed to promoting more sustainable materials, technology, and manufacturing practises. A new vegan line made of cactus leather and castor oil yarn is being released through this channel. Castor oil can be used as a partial or sole supply of the precisely produced monomers used in polymerization. Science Story, the collective’s inaugural collection, has featured innovative materials such as EVO by Fulgar, a bio-based yarn created from castor oil. EVO is a totally renewable resource that does not deplete fertile agricultural land or necessitate vast amounts of water.

The Castor Oil And Derivatives Global Market Report 2023  provides a castor oil and derivatives market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The castor oil and derivatives market forecast analyzes castor oil and derivatives market size, castor oil and derivatives market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Castor oil and derivatives are multifunctional compounds that are mostly used to make surfactants, beauty and personal care products, medicines, fragrances, greases, and other items. These are mostly utilised as a raw material in the production of a variety of chemicals.

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