Castor Oil Derivatives Market Share, Size, Trends, Industry Analysis Report, By Product (Sebacic Acid, 12-HAS, Ricinoleic Acid, Hydrogenated Castor Oil, Undecylenic Acid, Dehydrated Castor Oil, and Others); By Application; By Region; Segment Forecast, 202

Castor Oil Derivatives Market Share, Size, Trends, Industry Analysis Report, By Product (Sebacic Acid, 12-HAS, Ricinoleic Acid, Hydrogenated Castor Oil, Undecylenic Acid, Dehydrated Castor Oil, and Others); By Application; By Region; Segment Forecast, 2023 - 2032

The global castor oil derivatives market size is expected treach USD 2,335.78 million by 2032, according ta new study by Polaris Market Research. The report “Castor Oil Derivatives Market Share, Size, Trends, Industry Analysis Report, By Product (Sebacic Acid, 12-HAS, Ricinoleic Acid, Hydrogenated Castor Oil, Undecylenic Acid, Dehydrated Castor Oil, and Others); By Application; By Region; Segment Forecast, 2023-2032” gives a detailed insight intcurrent market dynamics and provides analysis on future market growth.

Exponential growth in the pharmaceutical and cosmetics industry, especially in developing economies such as India, China, and Brazil, extensive rise in the global population, increase in consumer disposable income, and improvements in the standard of living globally are among the prominent factors influencing the global market growth at a significant pace. In addition, increased awareness regarding the several benefits of castor oil derivatives over traditional vegetable oils, like the presence of fatty acid structure and renewable and versatile physio-chemical properties, has boosted the adoption of these oils across various end-use industries are further predicted tcontribute tthe market growth.

For instance, according tthe Ministry of Commerce & Industry, India’s total pharma exports have witnessed a significant growth of around 103% in 2021-22 from the value of pharma export in 2013-14. The country has gained a remarkable increase of approximately USD 10 billion in the last eight years, and India ranks as the 3rd largest country in the production of pharmaceuticals.

In recent years, there has been significant growth in the demand for castor oil from the healthcare sector, especially for being used for injection purposes tefficiently administer lipophilic drugs, as it contains ricinoleic acid and omega-6 fatty acid, which boost the growth of lymphocytes, that are widely known for fighting against various disease-causing factors naturally. Moreover, using the product treduce the symptoms of constipation, ensure less strain during defecation, and lower the feelings of improper or incomplete bowel movements, coupled with the rising number of people becoming health conscious, are likely tcreate lucrative growth opportunities for the market soon.

Castor Oil Derivatives Market Report Highlights

Sebacic acid segment dominated the castor oil derivatives market in 2022, which is highly attributable tincreased need and demand for the manufacturing of resins and adoption as an additive in lubricants

Plastics and resins segment accounted for largest market share in 2022, on account of its growing use in the textile industry due tits numerous benefits such as flexibility and high formulation latitude

North America region is expected tgrow at a fastest CAGR during the projected period, due trapid growth in the cosmetics and pharmaceutical sector and high consumption of bio-based plastics in the region

The global key market players include Gokul Agri International, Jayant AgrOrganics, Adani Wilmar, Taj AgrProducts, & Thai Castor Oil.

Polaris Market Research has segmented the castor oil derivatives market report based on product, application, and region:

Castor Oil Derivatives, Product Outlook (Revenue - USD Million, 2019 - 2032)

Sebacic Acid

12-HAS

Ricinoleic Acid

Hydrogenated Castor Oil

Undecylenic Acid

Dehydrated Castor Oil

Others

Castor Oil Derivatives, Application Outlook (Revenue - USD Million, 2019 - 2032)

Lubricants

Surface Coatings

Biodiesel

Cosmetics and Pharmaceuticals

Plastics and Resins

Others

Castor Oil Derivatives, Regional Outlook (Revenue - USD Million, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa