India Castor Oil & Derivatives Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Country: (India)
The India castor oil and derivatives market is experiencing robust growth with an expected significant expansion over the coming years.Valued at approximately USD 122.97 million in 2024, the market is projected to reach USD 171.6 million by 2031, with a CAGR of 4.90%. This market's progress is powered by its wide array of uses across various industries including pharmaceuticals, where it's particularly valued for its wound-healing properties due to ricinoleic acid, which boasts anti-inflammatory and pain reduction qualities.
Castor oil, extracted from castor seeds, is a versatile vegetable oil utilized in numerous medicinal, industrial, and pharmaceutical applications. Its functional properties make it an ideal component in many products, fostering increased demand domestically and internationally, especially in regions like North America and Asia.
Key Trends Influencing the Indian Castor Oil Market
Adoption of Renewable Resources: The shift towards environmentally friendly practices in both government and industry sectors has bolstered the growth of the castor oil market. With the global push towards reducing carbon footprints, this edible oil has emerged as a vital feedstock for biodiesel, benefiting from the fluctuating prices of traditional fossil fuels and heightened global warming concerns.
Enhanced Biofuel Utilization: Castor oil is increasingly being recognized as an alternative feedstock for biofuel production, used in diesel engines and as a substitute for petro-fuels in turbines. Biofuels, like biodiesel produced from castor oil, are advantageous as they contain no sulfur, reducing acid production during combustion, and serve as excellent lubricants, enhancing the durability of high-pressure injection systems.
Robust Cultivation of Castor Seeds in India: India stands as a major producer of castor seeds, which are cultivated extensively across tropical and subtropical regions. Regions like Gujarat lead in production, contributing significantly to the national output. The cultivation benefits from the seeds' resistance to pests and diseases, and their ability to retain oil quality even after extended storage, making immediate processing and derivation into various products feasible.
Rising Demand for Biomaterial-based Products: There's a growing trend towards bio-based products across diverse sectors like polymers, paints, personal care, and pharmaceuticals due to increasing environmental concerns and regulatory actions. Castor oil is gaining attention as a sustainable and biodegradable resource, opening new avenues in polymer development including uses in polyurethanes and polyamides.
Market Challenges
Price Volatility: The castor oil market often faces price fluctuations, which can impact the growth momentum. This volatility particularly affects small and medium-sized enterprises and can disrupt the overall value chain, especially with India being a key player in the global market. Farmers are also vulnerable to price changes, often shifting to more profitable crops, which can affect castor oil production stability.
Market Insights by Category
End-Use Insights: The lubricants and grease industry emerges as a prominent end-user of castor oil derivatives, leveraging its properties for high-temperature applications and improved viscosity at low temperatures. This segment holds a significant volume share in the industry, highlighting its critical role in various industrial applications.
Product Type Insights: Castor oil dominates the market share in product types due to its antioxidant and anti-inflammatory properties, finding extensive use in the pharmaceutical sector and other industries like cosmetics and biomaterials.
Competitive Analysis
Strategic Industry Collaborations: Key players in the castor oil and derivatives market are focusing on enhancing their production capacities and market reach through strategic collaborations and acquisitions. This not only helps in technology integration but also strengthens global brand presence.
Key companies profiled
• Adani Wilmar Ltd.
• Ambuja Solvex Pvt. Ltd.
• Amee Castor & Derivatives Ltd.
• Arvalli Castor Derivatives Pvt. Ltd.
• Cristol
• Girnar Industries
• Globexo India
• Gokul Agri International Ltd.
• Guru Raghavendra Chemicals
• Jayant Agro-Organics Limited
• Kisan Agro
• NK Industries Limited
• Royal Castor Products Limited
• Shri Bhagwati Oil Mill
• Silverline Chemicals
• Uday Oils
India Castor Oil & Derivatives Industry Research by Category
By Product Type:
• Castor Oil
Refined Castor Oil
Cold Pressed Castor Oil
First Special Grade (F.S.G) Castor Oil
Pale Pressed Grade (P.P.G) Castor Oil
Others
• Derivatives
Deodorized Castor Oil
Hydrogenated Castor Oil
Dehydrated Castor Oil
Stearic Acid
Ricinoleic Acid
Others
By Classification:
• Industrial
• Pharmaceutical
By End Use:
• Cosmetics & Personal Care Industry
• Pharmaceutical Industry
• Biomaterials
• Lubricants & Greases
• Inks, Paints, and Coatings
• Other Industrial Applications
Please note: Delivery Timelines - 5 working days.
- 1. Executive Summary
- 1.1. India Castor Oil & Derivatives Market Snapshot
- 1.2. Future Projections
- 1.3. Key Market Trends
- 1.4. Regional Snapshot, by Value and Volume, 2024
- 1.5. Analyst Recommendations
- 2. Market Overview
- 2.1. Market Definitions and Segmentations
- 2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
- 2.3. Value Chain Analysis
- 2.4. Porter’s Five Forces Analysis
- 2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
- 2.6. Economic Overview
- 2.6.1. World Economic Projections
- 2.7. PESTLE Analysis
- 3. Price Analysis, 2019 - 2023
- 3.1. India Average Price Analysis, by Product Type, US$ Per Unit, 2019 - 2023
- 3.2. Prominent Factor Affecting Castor Oil & Derivatives Prices
- 3.3. India Average Price Analysis, by Zone, US$ Per Unit
- 4. India Castor Oil & Derivatives Market Outlook, 2019 - 2031
- 4.1. India Castor Oil & Derivatives Market Outlook, by Product Type, Value (US$ Mn) and Volume (Tons), 2019 - 2031
- 4.1.1. Key Highlights
- 4.1.1.1. Castor Oil
- 4.1.1.1.1. Refined Castor Oil
- 4.1.1.1.2. Cold Pressed Castor Oil
- 4.1.1.1.3. First Special Grade (F.S.G) Castor Oil
- 4.1.1.1.4. Pale Pressed Grade (P.P.G) Castor Oil
- 4.1.1.1.5. Others
- 4.1.1.2. Derivatives
- 4.1.1.2.1. Deodorized Castor Oil
- 4.1.1.2.2. Hydrogenated Castor Oil
- 4.1.1.2.3. Dehydrated Castor Oil
- 4.1.1.2.4. Stearic Acid
- 4.1.1.2.5. Ricinoleic Acid
- 4.1.1.2.6. Others
- 4.2. India Castor Oil & Derivatives Market Outlook, by Classification, Value (US$ Mn) and Volume (Tons), 2019 - 2031
- 4.2.1. Key Highlights
- 4.2.1.1. Industrial
- 4.2.1.2. Pharmaceutical
- 4.3. India Castor Oil & Derivatives Market Outlook, by End-use, Value (US$ Mn) and Volume (Tons), 2019 - 2031
- 4.3.1. Key Highlights
- 4.3.1.1. Cosmetics & Personal Care Industry
- 4.3.1.2. Pharmaceutical Industry
- 4.3.1.3. Biomaterials
- 4.3.1.4. Lubricants & Greases
- 4.3.1.5. Inks, Paints, and Coatings
- 4.3.1.6. Other Industrial Applications
- 4.4. India Castor Oil & Derivatives Market Outlook, by Zone, Value (US$ Mn) and Volume (Tons), 2019 - 2031
- 4.4.1. Key Highlights
- 4.4.1.1. North
- 4.4.1.2. East
- 4.4.1.3. West
- 4.4.1.4. South
- 5. North India Castor Oil & Derivatives Market Outlook, 2019 - 2031
- 5.1. North India Castor Oil & Derivatives Market Outlook, by Product Type, Value (US$ Mn) and Volume (Tons), 2019 - 2031
- 5.1.1. Key Highlights
- 5.1.1.1. Castor Oil
- 5.1.1.1.1. Refined Castor Oil
- 5.1.1.1.2. Cold Pressed Castor Oil
- 5.1.1.1.3. First Special Grade (F.S.G) Castor Oil
- 5.1.1.1.4. Pale Pressed Grade (P.P.G) Castor Oil
- 5.1.1.1.5. Others
- 5.1.1.2. Derivatives
- 5.1.1.2.1. Deodorized Castor Oil
- 5.1.1.2.2. Hydrogenated Castor Oil
- 5.1.1.2.3. Dehydrated Castor Oil
- 5.1.1.2.4. Stearic Acid
- 5.1.1.2.5. Ricinoleic Acid
- 5.1.1.2.6. Others
- 5.2. North India Castor Oil & Derivatives Market Outlook, by Classification, Value (US$ Mn) and Volume (Tons), 2019 - 2031
- 5.2.1. Key Highlights
- 5.2.1.1. Industrial
- 5.2.1.2. Pharmaceutical
- 5.3. North India Castor Oil & Derivatives Market Outlook, by End-use, Value (US$ Mn) and Volume (Tons), 2019 - 2031
- 5.3.1. Key Highlights
- 5.3.1.1. Cosmetics & Personal Care Industry
- 5.3.1.2. Pharmaceutical Industry
- 5.3.1.3. Biomaterials
- 5.3.1.4. Lubricants & Greases
- 5.3.1.5. Inks, Paints, and Coatings
- 5.3.1.6. Other Industrial Applications
- 5.3.2. BPS Analysis/Market Attractiveness Analysis
- 6. East India Castor Oil & Derivatives Market Outlook, 2019 - 2031
- 6.1. East India Castor Oil & Derivatives Market Outlook, by Product Type, Value (US$ Mn) and Volume (Tons), 2019 - 2031
- 6.1.1. Key Highlights
- 6.1.1.1. Castor Oil
- 6.1.1.1.1. Refined Castor Oil
- 6.1.1.1.2. Cold Pressed Castor Oil
- 6.1.1.1.3. First Special Grade (F.S.G) Castor Oil
- 6.1.1.1.4. Pale Pressed Grade (P.P.G) Castor Oil
- 6.1.1.1.5. Others
- 6.1.1.2. Derivatives
- 6.1.1.2.1. Deodorized Castor Oil
- 6.1.1.2.2. Hydrogenated Castor Oil
- 6.1.1.2.3. Dehydrated Castor Oil
- 6.1.1.2.4. Stearic Acid
- 6.1.1.2.5. Ricinoleic Acid
- 6.1.1.2.6. Others
- 6.2. East India Castor Oil & Derivatives Market Outlook, by Classification, Value (US$ Mn) and Volume (Tons), 2019 - 2031
- 6.2.1. Key Highlights
- 6.2.1.1. Industrial
- 6.2.1.2. Pharmaceutical
- 6.3. East India Castor Oil & Derivatives Market Outlook, by End-use, Value (US$ Mn) and Volume (Tons), 2019 - 2031
- 6.3.1. Key Highlights
- 6.3.1.1. Cosmetics & Personal Care Industry
- 6.3.1.2. Pharmaceutical Industry
- 6.3.1.3. Biomaterials
- 6.3.1.4. Lubricants & Greases
- 6.3.1.5. Inks, Paints, and Coatings
- 6.3.1.6. Other Industrial Applications
- 6.3.2. BPS Analysis/Market Attractiveness Analysis
- 7. West India Castor Oil & Derivatives Market Outlook, 2019 - 2031
- 7.1. West India Castor Oil & Derivatives Market Outlook, by Product Type, Value (US$ Mn) and Volume (Tons), 2019 - 2031
- 7.1.1. Key Highlights
- 7.1.1.1. Castor Oil
- 7.1.1.1.1. Refined Castor Oil
- 7.1.1.1.2. Cold Pressed Castor Oil
- 7.1.1.1.3. First Special Grade (F.S.G) Castor Oil
- 7.1.1.1.4. Pale Pressed Grade (P.P.G) Castor Oil
- 7.1.1.1.5. Others
- 7.1.1.2. Derivatives
- 7.1.1.2.1. Deodorized Castor Oil
- 7.1.1.2.2. Hydrogenated Castor Oil
- 7.1.1.2.3. Dehydrated Castor Oil
- 7.1.1.2.4. Stearic Acid
- 7.1.1.2.5. Ricinoleic Acid
- 7.1.1.2.6. Others
- 7.2. West India Castor Oil & Derivatives Market Outlook, by Classification, Value (US$ Mn) and Volume (Tons), 2019 - 2031
- 7.2.1. Key Highlights
- 7.2.1.1. Industrial
- 7.2.1.2. Pharmaceutical
- 7.3. West India Castor Oil & Derivatives Market Outlook, by End-use, Value (US$ Mn) and Volume (Tons), 2019 - 2031
- 7.3.1. Key Highlights
- 7.3.1.1. Cosmetics & Personal Care Industry
- 7.3.1.2. Pharmaceutical Industry
- 7.3.1.3. Biomaterials
- 7.3.1.4. Lubricants & Greases
- 7.3.1.5. Inks, Paints, and Coatings
- 7.3.1.6. Other Industrial Applications
- 7.3.2. BPS Analysis/Market Attractiveness Analysis
- 8. South India Castor Oil & Derivatives Market Outlook, 2019 - 2031
- 8.1. South India Castor Oil & Derivatives Market Outlook, by Product Type, Value (US$ Mn) and Volume (Tons), 2019 - 2031
- 8.1.1. Key Highlights
- 8.1.1.1. Castor Oil
- 8.1.1.1.1. Refined Castor Oil
- 8.1.1.1.2. Cold Pressed Castor Oil
- 8.1.1.1.3. First Special Grade (F.S.G) Castor Oil
- 8.1.1.1.4. Pale Pressed Grade (P.P.G) Castor Oil
- 8.1.1.1.5. Others
- 8.1.1.2. Derivatives
- 8.1.1.2.1. Deodorized Castor Oil
- 8.1.1.2.2. Hydrogenated Castor Oil
- 8.1.1.2.3. Dehydrated Castor Oil
- 8.1.1.2.4. Stearic Acid
- 8.1.1.2.5. Ricinoleic Acid
- 8.1.1.2.6. Others
- 8.2. South India Castor Oil & Derivatives Market Outlook, by Classification, Value (US$ Mn) and Volume (Tons), 2019 - 2031
- 8.2.1. Key Highlights
- 8.2.1.1. Industrial
- 8.2.1.2. Pharmaceutical
- 8.3. South India Castor Oil & Derivatives Market Outlook, by End-use, Value (US$ Mn) and Volume (Tons), 2019 - 2031
- 8.3.1. Key Highlights
- 8.3.1.1. Cosmetics & Personal Care Industry
- 8.3.1.2. Pharmaceutical Industry
- 8.3.1.3. Biomaterials
- 8.3.1.4. Lubricants & Greases
- 8.3.1.5. Inks, Paints, and Coatings
- 8.3.1.6. Other Industrial Applications
- 8.3.2. BPS Analysis/Market Attractiveness Analysis
- 9. Competitive Landscape
- 9.1. Company Market Share Analysis, 2024
- 9.2. Competitive Dashboard
- 9.3. Company Profiles
- 9.3.1. Adani Wilmar Ltd.
- 9.3.1.1. Company Overview
- 9.3.1.2. Product Portfolio
- 9.3.1.3. Financial Overview
- 9.3.1.4. Business Strategies and Development
- 9.3.2. Ambuja Solvex Pvt. Ltd.
- 9.3.2.1. Company Overview
- 9.3.2.2. Product Portfolio
- 9.3.2.3. Financial Overview
- 9.3.2.4. Business Strategies and Development
- 9.3.3. Amee Castor & Derivatives Ltd.
- 9.3.3.1. Company Overview
- 9.3.3.2. Product Portfolio
- 9.3.3.3. Financial Overview
- 9.3.3.4. Business Strategies and Development
- 9.3.4. Arvalli Castor Derivatives Pvt. Ltd.
- 9.3.4.1. Company Overview
- 9.3.4.2. Product Portfolio
- 9.3.4.3. Financial Overview
- 9.3.4.4. Business Strategies and Development
- 9.3.5. Cristol
- 9.3.5.1. Company Overview
- 9.3.5.2. Product Portfolio
- 9.3.5.3. Financial Overview
- 9.3.5.4. Business Strategies and Development
- 9.3.6. Girnar Industries
- 9.3.6.1. Company Overview
- 9.3.6.2. Product Portfolio
- 9.3.6.3. Financial Overview
- 9.3.6.4. Business Strategies and Development
- 9.3.7. Globexo India
- 9.3.7.1. Company Overview
- 9.3.7.2. Product Portfolio
- 9.3.7.3. Financial Overview
- 9.3.7.4. Business Strategies and Development
- 9.3.8. Gokul Agri International Ltd.
- 9.3.8.1. Company Overview
- 9.3.8.2. Product Portfolio
- 9.3.8.3. Financial Overview
- 9.3.8.4. Business Strategies and Development
- 9.3.9. Guru Raghavendra Chemicals
- 9.3.9.1. Company Overview
- 9.3.9.2. Product Portfolio
- 9.3.9.3. Financial Overview
- 9.3.9.4. Business Strategies and Development
- 9.3.10. Jayant Agro-Organics Limited
- 9.3.10.1. Company Overview
- 9.3.10.2. Product Portfolio
- 9.3.10.3. Financial Overview
- 9.3.10.4. Business Strategies and Development
- 9.3.11. Kisan Agro
- 9.3.11.1. Company Overview
- 9.3.11.2. Product Portfolio
- 9.3.11.3. Financial Overview
- 9.3.11.4. Business Strategies and Development
- 9.3.12. NK Industries Limited
- 9.3.12.1. Company Overview
- 9.3.12.2. Product Portfolio
- 9.3.12.3. Financial Overview
- 9.3.12.4. Business Strategies and Development
- 9.3.13. Royal Castor Products Limited
- 9.3.13.1. Company Overview
- 9.3.13.2. Product Portfolio
- 9.3.13.3. Financial Overview
- 9.3.13.4. Business Strategies and Development
- 9.3.14. Shri Bhagwati Oil Mill
- 9.3.14.1. Company Overview
- 9.3.14.2. Product Portfolio
- 9.3.14.3. Financial Overview
- 9.3.14.4. Business Strategies and Development
- 9.3.15. Silverline Chemicals
- 9.3.15.1. Company Overview
- 9.3.15.2. Product Portfolio
- 9.3.15.3. Financial Overview
- 9.3.15.4. Business Strategies and Development
- 9.3.16. Uday Oils
- 9.3.16.1. Company Overview
- 9.3.16.2. Product Portfolio
- 9.3.16.3. Financial Overview
- 9.3.16.4. Business Strategies and Development
- 10. Appendix
- 10.1. Research Methodology
- 10.2. Report Assumptions
- 10.3. Acronyms and Abbreviations
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