Castor Oil & Derivatives Market Size, Share & Trends Analysis Report By Product (Sebacic Acid, 12-HAS), By Application (Lubricants, Surface Coatings, Biodiesel), By Region, And Segment Forecasts, 2022 - 2030
- Report ID: 978-1-68038-328-7
- Number of Pages: 108
- Format: Electronic (PDF)
- Historical Range: 2018 - 2020
- Industry: Specialty & Chemicals
Market Segmentation
- Castor Oil & Derivatives Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Sebacic Acid
- 12-HSA
- Ricinoleic Acid
- Hydrogenated Castor Oil (Castor Wax)
- Undecylenic Acid
- Dehydrated Castor Oil
- Others
- Castor Oil & Derivatives Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Lubricants
- Surface Coatings
- Biodiesel
- Cosmetics and Pharmaceuticals
- Plastics and Resins
- Others
- Castor Oil & Derivatives Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- North America
- North America Castor Oil & Derivatives Market, By Product
- Sebacic Acid
- 12-HAS
- Ricinoleic Acid
- Hydrogenated Castor Oil (Castor Wax)
- Undecylenic Acid
- Dehydrated Castor Oil
- Others
- North America Castor Oil & Derivatives Market, By Application
- Lubricants
- Surface Coatings
- Biodiesel
- Cosmetics and Pharmaceuticals
- Plastics and Resins
- Others
- U.S. Castor Oil & Derivatives Market, By Product
- Sebacic Acid
- 12-HAS
- Ricinoleic Acid
- Hydrogenated Castor Oil (Castor Wax)
- Undecylenic Acid
- Dehydrated Castor Oil
- Others
- U.S. Castor Oil & Derivatives Market, By Application
- Lubricants
- Surface Coatings
- Biodiesel
- Cosmetics and Pharmaceuticals
- Plastics and Resins
- Others
- Canada Castor Oil & Derivatives Market, By Product
- Sebacic Acid
- 12-HAS
- Ricinoleic Acid
- Hydrogenated Castor Oil (Castor Wax)
- Undecylenic Acid
- Dehydrated Castor Oil
- Others
- Canada Castor Oil & Derivatives Market, By Application
- Lubricants
- Surface Coatings
- Biodiesel
- Cosmetics and Pharmaceuticals
- Plastics and Resins
- Others
- Mexico Castor Oil & Derivatives Market, By Product
- Sebacic Acid
- 12-HAS
- Ricinoleic Acid
- Hydrogenated Castor Oil (Castor Wax)
- Undecylenic Acid
- Dehydrated Castor Oil
- Others
- Mexico Castor Oil & Derivatives Market, By Application
- Lubricants
- Surface Coatings
- Biodiesel
- Cosmetics and Pharmaceuticals
- Plastics and Resins
- Others
- North America Castor Oil & Derivatives Market, By Product
- Europe
- Europe Castor Oil & Derivatives Market, By Product
- Sebacic Acid
- 12-HAS
- Ricinoleic Acid
- Hydrogenated Castor Oil (Castor Wax)
- Undecylenic Acid
- Dehydrated Castor Oil
- Others
- Europe Castor Oil & Derivatives Market, By Application
- Lubricants
- Surface Coatings
- Biodiesel
- Cosmetics and Pharmaceuticals
- Plastics and Resins
- Others
- Germany Castor Oil & Derivatives Market, By Product
- Sebacic Acid
- 12-HAS
- Ricinoleic Acid
- Hydrogenated Castor Oil (Castor Wax)
- Undecylenic Acid
- Dehydrated Castor Oil
- Others
- Germany Castor Oil & Derivatives Market, By Application
- Lubricants
- Surface Coatings
- Biodiesel
- Cosmetics and Pharmaceuticals
- Plastics and Resins
- Others
- UK Castor Oil & Derivatives Market, By Product
- Sebacic Acid
- 12-HAS
- Ricinoleic Acid
- Hydrogenated Castor Oil (Castor Wax)
- Undecylenic Acid
- Dehydrated Castor Oil
- Others
- UK Castor Oil & Derivatives Market, By Application
- Lubricants
- Surface Coatings
- Biodiesel
- Cosmetics and Pharmaceuticals
- Plastics and Resins
- Others
- France Castor Oil & Derivatives Market, By Product
- Sebacic Acid
- 12-HAS
- Ricinoleic Acid
- Hydrogenated Castor Oil (Castor Wax)
- Undecylenic Acid
- Dehydrated Castor Oil
- Others
- France Castor Oil & Derivatives Market, By Application
- Lubricants
- Surface Coatings
- Biodiesel
- Cosmetics and Pharmaceuticals
- Plastics and Resins
- Others
- Italy Castor Oil & Derivatives Market, By Product
- Sebacic Acid
- 12-HAS
- Ricinoleic Acid
- Hydrogenated Castor Oil (Castor Wax)
- Undecylenic Acid
- Dehydrated Castor Oil
- Others
- Italy Castor Oil & Derivatives Market, By Application
- Lubricants
- Surface Coatings
- Biodiesel
- Cosmetics and Pharmaceuticals
- Plastics and Resins
- Others
- Spain Castor Oil & Derivatives Market, By Product
- Sebacic Acid
- 12-HAS
- Ricinoleic Acid
- Hydrogenated Castor Oil (Castor Wax)
- Undecylenic Acid
- Dehydrated Castor Oil
- Others
- Spain Castor Oil & Derivatives Market, By Application
- Lubricants
- Surface Coatings
- Biodiesel
- Cosmetics and Pharmaceuticals
- Plastics and Resins
- Others
- Netherlands Castor Oil & Derivatives Market, By Product
- Sebacic Acid
- 12-HAS
- Ricinoleic Acid
- Hydrogenated Castor Oil (Castor Wax)
- Undecylenic Acid
- Dehydrated Castor Oil
- Others
- Netherlands Castor Oil & Derivatives Market, By Application
- Lubricants
- Surface Coatings
- Biodiesel
- Cosmetics and Pharmaceuticals
- Plastics and Resins
- Others
- Europe Castor Oil & Derivatives Market, By Product
- Asia Pacific
- Asia Pacific Castor Oil & Derivatives Market, By Product
- Sebacic Acid
- 12-HAS
- Ricinoleic Acid
- Hydrogenated Castor Oil (Castor Wax)
- Undecylenic Acid
- Dehydrated Castor Oil
- Others
- Asia Pacific Castor Oil & Derivatives Market, By Application
- Lubricants
- Surface Coatings
- Biodiesel
- Cosmetics and Pharmaceuticals
- Plastics and Resins
- Others
- China Castor Oil & Derivatives Market, By Product
- Sebacic Acid
- 12-HAS
- Ricinoleic Acid
- Hydrogenated Castor Oil (Castor Wax)
- Undecylenic Acid
- Dehydrated Castor Oil
- Others
- China Castor Oil & Derivatives Market, By Application
- Lubricants
- Surface Coatings
- Biodiesel
- Cosmetics and Pharmaceuticals
- Plastics and Resins
- Others
- India Castor Oil & Derivatives Market, By Product
- Sebacic Acid
- 12-HAS
- Ricinoleic Acid
- Hydrogenated Castor Oil (Castor Wax)
- Undecylenic Acid
- Dehydrated Castor Oil
- Others
- India Castor Oil & Derivatives Market, By Application
- Lubricants
- Surface Coatings
- Biodiesel
- Cosmetics and Pharmaceuticals
- Plastics and Resins
- Others
- Japan Castor Oil & Derivatives Market, By Product
- Sebacic Acid
- 12-HAS
- Ricinoleic Acid
- Hydrogenated Castor Oil (Castor Wax)
- Undecylenic Acid
- Dehydrated Castor Oil
- Others
- Japan Castor Oil & Derivatives Market, By Application
- Lubricants
- Surface Coatings
- Biodiesel
- Cosmetics and Pharmaceuticals
- Plastics and Resins
- Others
- South Korea Castor Oil & Derivatives Market, By Product
- Sebacic Acid
- 12-HAS
- Ricinoleic Acid
- Hydrogenated Castor Oil (Castor Wax)
- Undecylenic Acid
- Dehydrated Castor Oil
- Others
- South Korea Castor Oil & Derivatives Market, By Application
- Lubricants
- Surface Coatings
- Biodiesel
- Cosmetics and Pharmaceuticals
- Plastics and Resins
- Others
- Australia Castor Oil & Derivatives Market, By Product
- Sebacic Acid
- 12-HAS
- Ricinoleic Acid
- Hydrogenated Castor Oil (Castor Wax)
- Undecylenic Acid
- Dehydrated Castor Oil
- Others
- Australia Castor Oil & Derivatives Market, By Application
- Lubricants
- Surface Coatings
- Biodiesel
- Cosmetics and Pharmaceuticals
- Plastics and Resins
- Others
- Singapore Castor Oil & Derivatives Market, By Product
- Sebacic Acid
- 12-HAS
- Ricinoleic Acid
- Hydrogenated Castor Oil (Castor Wax)
- Undecylenic Acid
- Dehydrated Castor Oil
- Others
- Singapore Castor Oil & Derivatives Market, By Application
- Lubricants
- Surface Coatings
- Biodiesel
- Cosmetics and Pharmaceuticals
- Plastics and Resins
- Others
- Asia Pacific Castor Oil & Derivatives Market, By Product
- Central & South America
- Central & South America Castor Oil & Derivatives Market, By Product
- Sebacic Acid
- 12-HAS
- Ricinoleic Acid
- Hydrogenated Castor Oil (Castor Wax)
- Undecylenic Acid
- Dehydrated Castor Oil
- Others
- Central & South America Castor Oil & Derivatives Market, By Application
- Lubricants
- Surface Coatings
- Biodiesel
- Cosmetics and Pharmaceuticals
- Plastics and Resins
- Others
- Brazil Castor Oil & Derivatives Market, By Product
- Sebacic Acid
- 12-HAS
- Ricinoleic Acid
- Hydrogenated Castor Oil (Castor Wax)
- Undecylenic Acid
- Dehydrated Castor Oil
- Others
- Brazil Castor Oil & Derivatives Market, By Application
- Lubricants
- Surface Coatings
- Biodiesel
- Cosmetics and Pharmaceuticals
- Plastics and Resins
- Others
- Argentina Castor Oil & Derivatives Market, By Product
- Sebacic Acid
- 12-HAS
- Ricinoleic Acid
- Hydrogenated Castor Oil (Castor Wax)
- Undecylenic Acid
- Dehydrated Castor Oil
- Others
- Argentina Castor Oil & Derivatives Market, By Application
- Lubricants
- Surface Coatings
- Biodiesel
- Cosmetics and Pharmaceuticals
- Plastics and Resins
- Others
- Central & South America Castor Oil & Derivatives Market, By Product
- Middle East & Africa
- Middle East & Africa Castor Oil & Derivatives Market, By Product
- Sebacic Acid
- 12-HAS
- Ricinoleic Acid
- Hydrogenated Castor Oil (Castor Wax)
- Undecylenic Acid
- Dehydrated Castor Oil
- Others
- Middle East & Africa Castor Oil & Derivatives Market, By Application
- Lubricants
- Surface Coatings
- Biodiesel
- Cosmetics and Pharmaceuticals
- Plastics and Resins
- Others
- Saudi Arabia Castor Oil & Derivatives Market, By Product
- Sebacic Acid
- 12-HAS
- Ricinoleic Acid
- Hydrogenated Castor Oil (Castor Wax)
- Undecylenic Acid
- Dehydrated Castor Oil
- Others
- Saudi Arabia Castor Oil & Derivatives Market, By Application
- Lubricants
- Surface Coatings
- Biodiesel
- Cosmetics and Pharmaceuticals
- Plastics and Resins
- Others
- South Africa Castor Oil & Derivatives Market, By Product
- Sebacic Acid
- 12-HAS
- Ricinoleic Acid
- Hydrogenated Castor Oil (Castor Wax)
- Undecylenic Acid
- Dehydrated Castor Oil
- Others
- South Africa Castor Oil & Derivatives Market, By Application
- Lubricants
- Surface Coatings
- Biodiesel
- Cosmetics and Pharmaceuticals
- Plastics and Resins
- Others
- Middle East & Africa Castor Oil & Derivatives Market, By Product
- North America
Castor Oil & Derivatives Market Dynamics
Driver: Increasing Demand For Biodiesel
Liquid biofuels, such as biodiesel and renewable diesel, are used as substitutes for various types of combustion engines, including those that run on kerosene, diesel, and gasoline, as well as in passenger vehicles like airplanes, ships, and trucks. Biodiesel, a liquid biofuel, is extracted from animal fats or vegetable oils and can be used in diesel engines or blended with diesel oil. Castor oil is a non-edible, bio-based raw material used in the production of biodiesel due to its distinctive chemical structure.In 2021, biodiesel consumption in Europe increased by nearly 2.5 percent, driven by domestic increases in the Czech Republic, Croatia, Germany, Finland, Ireland, Greece, the Netherlands, Spain, and Italy, as well as rising utilization of diesel post-pandemic. Germany, France, Sweden, the UK, and Spain emerged as the prominent consumers of biodiesel in Europe, accounting for over 64% of the biodiesel consumption in the region. Bioenergy, produced from agricultural, forestry, and organic waste feedstock, continues to be the main source of renewable energy in the EU. The use of advanced biofuels and other biofuels produced from non-food feedstocks is also increasing.
Driver: Growth Of Cosmetics And Pharmaceutical Sectors
The demand for castor oil and its derivatives is expected to increase in the cosmetics and pharmaceutical sectors due to growing awareness among individuals regarding self-management and preventive care, resulting in increased consumption of cosmetics and pharmaceutical products. The demand for castor oil is also expected to surge due to its rising utilization in the production of skincare products, cosmetics, and soaps. The Indian pharmaceutical sector is expected to reach USD 65 billion by 2024 and USD 130 billion by 2030, according to the India Brand Equity Foundation (IBEF). This growth can be attributed to low costs of treatment, low production costs of medicines, an increase in middle-class consumers, and the development of medical infrastructure. Europe and the U.S. are the prominent markets for pharmaceutical products due to a strong foothold of pharmaceutical manufacturers and mounting investments in research and development activities. The Indian pharmaceutical market is poised to grow at a compound annual growth rate (CAGR) of 10.7% by 2028, according to Mordor Intelligence. The market is expected to witness healthy growth owing to increased demand for digitalization and surge in domestic production. The Indian pharmaceutical sector has a long history of developing and delivering world-class products and is home to major companies such as Pfizer, Lupin, and Dr. Reddy’s Laboratories.
Restraint: Fluctuating Castor Oil Prices
Castor oil is obtained from castor seeds, which are mainly found in arid and semi-arid regions. Castor seeds are cultivated on a commercial scale across the globe, with major producers including India, Brazil, China, Thailand, Russia, the Philippines, and Ethiopia. India is a prominent producer and exporter of castor oil, accounting for over 60% of international trade, followed by Brazil and China. The prices of castor oil depend on the cost of its raw material, castor seeds. The graph above depicts the surge in castor oil prices in 2018 and 2019 at an international and domestic level. In 2019, castor oil prices in the domestic and international market increased as compared to the previous year. The unstable prices and fluctuating supply of castor seeds are accountable for the surge in castor oil prices. Castor oil prices are primarily affected by land and production variations, level of rainfall, prices of competitive oils like dehydrated oil, hydrogenated oil, sulfonated oil, and sulfated oil among others, seasonal price variations, ascending demand from importing countries, development of new uses of the oil, mounting domestic demand, and carryover stocks. Higher demand for castor oil, especially from China, has hindered the market supply. Mounting export demand, diminishing supplies, and lower yield estimation are factors anticipated to keep the product prices high in the near future, thereby restraining the market growth.
What Does This Report Include?
This section will provide insights into the contents included in this castor oil & derivatives market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Castor oil & derivatives market qualitative analysis
-
Industry overview
-
Industry trends
-
Market drivers and restraints
-
Market size
-
Growth prospects
-
Porter’s analysis
-
PESTEL analysis
-
Key market opportunities prioritized
-
Competitive landscape
-
Company overview
-
Financial performance
-
Product benchmarking
-
Latest strategic developments
-
Castor oil & derivatives market quantitative analysis
-
Market size, estimates, and forecast from 2018 to 2030
-
Market estimates and forecast for product segments up to 2030
-
Regional market size and forecast for product segments up to 2030
-
Market estimates and forecast for application segments up to 2030
-
Regional market size and forecast for application segments up to 2030
-
Company financial performance
GET A FREE SAMPLE
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.
Contact us now to get our best pricing.
ESOMAR certified & member
ISO Certified
We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure. For more details, please read our privacy policy.
