The Global Castor Oil and Derivative Market size is projected to grow from $2.5 billion in 2016 to more than $3.7 billion by 2028, at a CAGR of 5%. The demand for castor oil derivatives is expected to be driven primarily by the rise in the consumption of plastics and resins, which will result in higher product prices due to increased demand over the forecast period. The major drivers for growth are increasing demand for renewable sources of energy and rising consumption in developing countries such as China and India among others.
Castor Oil is a vegetable fat and an emollient, or lubricant. It's made from the "castor" bean plant (Ricinus Communis). The castor beans are processed to extract their oil content which is then purified by removing impurities such as waxes. Castor oil is used as a lubricant, cleaner and to make paint. HCO can be converted into polyols that have the potential to replace glycerol (GRO) in various applications including the food industry.
On the basis of Type, the market is segmented into Hydrogenated Castor Oil (HCO), 12-Hydroxy Stearic Acid (12 HAS), Methyl 12 HSA (Hydroxy Stearate Acid), and others. The castor oil market is dominated by the vegetable fats segment which accounted for a value share of 45% in 2018. This can be attributed to its affordability, availability, and high demand from the manufacturing industry as it's used to make plasticizers, adhesives, and varnishes among other applications.
Hydrogenated Castor oil is obtained by hydrogenating castor bean's triglycerides, typically of C-18 chains. This process converts the fatty acids to open chains and saturated forms. HCO has a high melting point that can range from 46°C to 48°C depending on composition. The low density will allow it to float in water, unlike most oils with a higher melting point such as coconut oil or palm kernel oil.
The uses are primarily in the manufacture of cosmetics and pharmaceuticals. It is a potential substitute for cocoa butter because it has similar properties when solidifying. HCO can be used as an additive to margarine, mayonnaise, or other food products. In addition, hydrogenation increases the solubility of omega-hydroxy fatty acids such as 12-Hydroxyl stearic acid which have been found effective on various skin conditions including eczema and psoriasis. Hydrogenated castor oil also finds use in plastics applications where its high melting point makes it suitable for molding at higher temperatures than most oils would allow without becoming brittle and viscous during cooling.
12 HAS is a fatty acid found in castor oil and other vegetable oils. It is also used as an emulsifier, lubricant, and plasticizer for rubber products such as tires. 12 HAS has the highest melting point of any hydrogenated castor oil derivative - this means it can withstand high temperatures without oxidizing or going bad easily. This property makes it very useful in many industries including plastics manufacturing, where stability at high temperatures is crucial to performance.
In cosmetics and pharmaceuticals, 12 HAS helps stabilize creams against temperature changes. In personal care formulations like mascara that need to be stable both when hot (from being applied) and cold (when first taken out), 12-HAS helping provide a more stable product.
Methyl 12 HSA, also called methoxy stearate acid (“MASA ”) is an organic compound that has a chemical formula of CH(COOH)CO--CH-12. It can be made from castor oil and is used in the production of polyurethane products such as furniture cushions, mattresses, upholstery foam, etc. MASA ensures easy flowability of the polymer chains during processing while maintaining their elasticity when cured. Methyl 12 HSA offers good thermal stability and a higher degree of resistance to degradation by light or heat than other similar types like hydroxystearic acids. Hence it finds application mainly for coating materials that are exposed to direct sunlight on a regular basis.
On the basis of Application, the market is segmented into Manufacture, Cosmetics and Pharmaceuticals, Plastics, and Resins.
The castor oil regulates the viscosity of polyols to help in achieving a stable polymer. It is mainly used for manufacturing furniture cushions, mattresses, upholstery foam and helps in improving thermal stability during processing.
Castor oil has been used as an ingredient in soaps, shampoos, and other cosmetic items since ancient times. These are increasingly being blended with modern formulations such as antibiotics or ultraviolet filters that provide protection against sunburns and skin cancer respectively.
Castor oil derivatives can be mixed with styrene monomers to create plastics like ABS which find application in automobile parts where high strength/low weight ratio is desired. Another application is using castor oil derivatives for manufacturing of hot melt and pressure-sensitive adhesives that find use in laminating, packaging, construction, etc.
Castors can also be used as food preservatives or additives to enhance the nutritional value of fats.
On the basis of Region, the market is segmented ed into North America, Latin America, Europe. The North American market is anticipated to grow at an exponential rate during the forecast period due to the growing automotive industry and increasing consumption of cosmetics and personal care products.
The Asia Pacific is predicted to register a healthy growth rate, as it has been witnessing increased consumption of cosmetics and personal care products along with plastic production at higher rates than other regions. The Middle East & Africa is predicted to register a slow growth rate as it has been witnessing slowed economic development.
The European market is estimated to have about 25% share in terms of volume consumed. One important reason for this could be due to its major presence in chemical, food processing, manufacturing industries which are reliant on Castor Oil as raw material.
Up Market Research published a new report titled “Castor Oil and Derivative Market research report which is segmented by Types (Hydrogenated Castor Oil (HCO), 12-Hydroxy Stearic Acid (12 HAS), Methyl 12 HSA (Hydroxy Stearate Acid), COLM (Urethane Grade), Ethoxylated Castor Oil, Dehydrated Castor Oil, Castor Wax, C-7 Derivatives Of Castor Oil, C 11 Derivatives Of Castor Oil, C 18 Derivatives Of Castor Oil), By Applications (Manufacture, Cosmetics And Pharmaceuticals, Plastics And Resins, Others), By Players/Companies Thai Castor Oil Industries, ITOH Oil Chemicals, Jayant Agro Organics, Hokoku, RPK Agrotech, Xingtai Lantian Fine Chemical, Tongliao TongHua Castor Chemical, Taj Agro Products, Kanak Castor Products, Adani Wilmar, NK Proteins, Liaoyang Huaxing Chemical, Enovel, Bom Brazil, Gokul Overseas”.
|Report Attributes||Report Details|
|Report Title||Castor Oil and Derivative Market Research Report|
|By Type||Hydrogenated Castor Oil (HCO), 12-Hydroxy Stearic Acid (12 HAS), Methyl 12 HSA (Hydroxy Stearate Acid), COLM (Urethane Grade), Ethoxylated Castor Oil, Dehydrated Castor Oil, Castor Wax, C-7 Derivatives Of Castor Oil, C 11 Derivatives Of Castor Oil, C 18 Derivatives Of Castor Oil|
|By Application||Manufacture, Cosmetics And Pharmaceuticals, Plastics And Resins, Others|
|By Companies||Thai Castor Oil Industries, ITOH Oil Chemicals, Jayant Agro Organics, Hokoku, RPK Agrotech, Xingtai Lantian Fine Chemical, Tongliao TongHua Castor Chemical, Taj Agro Products, Kanak Castor Products, Adani Wilmar, NK Proteins, Liaoyang Huaxing Chemical, Enovel, Bom Brazil, Gokul Overseas|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||230|
|Number of Tables & Figures||161|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Hydrogenated Castor Oil (HCO), 12-Hydroxy Stearic Acid (12 HAS), Methyl 12 HSA (Hydroxy Stearate Acid), COLM (Urethane Grade), Ethoxylated Castor Oil, Dehydrated Castor Oil, Castor Wax, C-7 Derivatives Of Castor Oil, C 11 Derivatives Of Castor Oil, C 18 Derivatives Of Castor Oil and By Application Manufacture, Cosmetics And Pharmaceuticals, Plastics And Resins, Others.
Some of the companies that are profiled in this report are:
Castor Oil and Derivative Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Castor Oil and Derivative Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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