Global Castor Oil Market Size and Gross Margin Analysis to 2022 by Million Insights

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Global Castor Oil Market is segmented By End User into Lubricants, Surface Coatings, Biodiesel, Cosmetics and Pharmaceuticals, Plastic and resins, and others. Castor is one of the world’s top ten oil-seed crops and it is highly competitive in the agriculture environment. Castor cultivation is sustained by a new wave of worldwide demand for castor oil and so it enjoys great economic potential. Castor oil can resist high combustion levels and has a low consolidation level. As a result of its unique characteristics, it can fulfill the requirements of the aviation industry. According to the statistics, there are currently 3 million hectares of land that is planted with castor around the world, with 1.5 million tons of castor nuts harvested annually. Unfortunately, the existing demand for castor nuts is not being met. Consequently, castor cultivation and its downstream industries offer tremendous opportunities.

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Castor plants play an important role in the agricultural economies because it enables them to earn substantial foreign exchange through export of castor beans and oils. The major castor importing markets are the European Union, the United States, Japan and now, China and Thailand. Castor oil has a worldwide demand that is rising 3 to 5 percent per annum. The world production of castor oil seeds is concentrated in a few countries. Consequently, there are only a few large exporters of castor oil fulfilling a massive portion of world demand. In recent years, with the rapid development of industrial production and advanced technology are emerging, Castor oil becoming more and more deep-processed products, becoming the people’s concern and as such, the domestic and international market demand for Castor Beans has been in rapid growth in many countries. Castor Oil is used for biodegradable lubricants, Biofuel and caters to many other applications, with its emissions of gases complying with international environmental standards in the castor oil market.

Castor oil is a proven competitor in the industrial chemical markets. It is a critical raw material for the industrial chemical markets. It is practical, natural, renewable and very versatile, and it has been a staple for the Oleo chemical markets for a very long time. Castor oil has been called on to resolve numerous formulating and processing needs because of its unique fatty acid structure in the castor oil market. Strong export demand internationally lifted castor future and made as one of the high demand cash crops nowadays. The company decided to development castor plantation comprehensively in the future by assisting planter involved in castor plantation and impart plantation knowledge plus management experience to them. Castor Oil Market is segmented By Types into 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, and C 18 Derivatives of Castor Oil.

Cosmetics and Pharmaceuticals followed by surface coatings, and plastics and resin industry are the largest consumers of castor oil whereas the surface coatings industry is the fastest growing end user for the castor oil. Castor oil has a low significance in the biodiesel industry as the production cost of castor oil is higher as compared to other biofuels. Castor Oil Market is segmented, By Geographical Region into North America, Europe, APAC, and Latin America. Castor Oil Market Key Players include Thai Castor Oil Industries Co. Ltd., ITOH Oil Chemicals Co. Ltd., Jayant Agro Organics, Hokoku Corporation, RPK Agrotech, XingtaiLantian Fine Chemical Co. Ltd., TongliaoTongHua Castor Chemical Co. Ltd., Taj Agro Products, Kanak Castor Products Pvt. Ltd., Adani Wilmar, NK Proteins, Liaoyang Huaxing Chemical Co., Ltd., Enovel, Bom Brazil and Gokul Overseas.

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