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Castor Oil Derivatives Market will exhibit a CAGR of 4.3% during the forecast period., and reach USD 1,429.7 million by 2027, and the Market value as per 2019 was USD 1,035.4 million.

Fortune Business Insights™ in a new report, titled, “Castor Oil Derivatives Market Size, Share & COVID-19 Impact Analysis, By Product 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

Because of the unique fatty acid structure, castor oil and its derivatives offer vast advantages as compared to other vegetable oils. Applications of oils derived from cotton, coconut, soy, corn, rapeseed are limited mostly to edible purposes. Castor oil derivatives are renewable, natural, and versatile in physicochemical properties. Thus, these products are preferred as a key raw material in multiple applications including lubricants, oleo-chemicals, medical, cosmetics, pharmaceuticals, bio-energy among others. Owing to the rising importance of green chemicals globally, the market is expected to indicate stable growth in the forthcoming years.


Wavering Prices of Raw Materials to Restrain Growth

Castor oil is a prime feedstock for the production of its derivatives. The castor oil yield 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 downstream production and demand of castor oil derivatives, thus reducing profit margins. However, with the rapid adoption of modern agricultural practices backed by government policies will elevate the business of oils in the near future.

List of Key Players Covered in the Castor Oil Derivatives Market 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 table of content and figures, Click Here: https://www.fortunebusinessinsights.com/industry-reports/castor-oil-market-100537

 Some of the key industry developments in the Castor Oil Derivatives Market Include:

February 26, 2016: India based Shipra Agrichem invested around US$ 62.7 million to develop the first sebacic acid plant in Oman. The plant capacity is 30-kilo tons per year and the produced quantities are aimed to export to Europe, China, Japan, and the United States.


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