Castor Oil Derivatives Market Size Worth $2.1 Billion by 2031 | CAGR: 4.8%: AMR
Increasing demand for biodegradable and sustainable products drives the growth of the global castor oil derivatives market. Based on end-use industry, the personal care and beauty care segment held the major share in 2021. By region, on the other hand, the Asia-Pacific region would remain lucrative throughout the forecast period.
Portland, OR, Sept. 14, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global *castor oil derivatives market* was estimated at $1.3 billion in 2021 and is expected to hit $2.1 billion by 2031, registering a CAGR of 4.8% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market. The report is exclusively meant to help the readers with a comprehensive valuation of industry analysis and trends.
*Report Coverage & Details:*
*Report Coverage* *Details*
Forecast Period 2022–2031
Base Year 2021
Market Size in 2021 $1.3 Billion
Market Size in 2031 $2.1 Billion
CAGR 4.8%
No. of Pages in Report 310
Segments Covered Product Type, End Use Industry, and Region.
Drivers Increasing demand for biodegradable and sustainable products
Restraints High manufacturing cost, rise in prices of raw materials, and uncertainty in climatic conditions
Opportunities Regulatory support from several government bodies
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*Covid-19 scenario-*
· With the strict restriction norms on board, the production rate of castor oil derivatives experienced a steep decline, especially during the initial period, thus impacting the global market for castor oil derivatives negatively.
· However, as the overall situation across the globe got better, the sales and production of castor oil derivatives also restored gradually.
The global castor oil derivatives market is analyzed across product type, end use industry, and region. The report takes in an exhaustive analysis of segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
Based on product type, the sebacic acid segment contributed to nearly one-third of the global castor oil derivatives market revenue in 2021, and is expected to dominate by 2031. The hydrogenated castor oil segment, on the other hand, would showcase the fastest CAGR of 5.3% throughout the forecast period. The manual beds segment is also assessed in the study.
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Based on end-use industry, the personal care and beauty care segment accounted for around one-third of the total market revenue in 2021, and is expected to dominate by 2031. The lubricants segment, simultaneously, would cite the fastest CAGR of 5.3% throughout the forecast period.
Based on region, the market across Asia-Pacific generated nearly two-fifths of the total market revenue in 2021, and is anticipated to retain the lion’s share by 2031. The same region would also showcase the *fastest CAGR* of 5.5% during the forecast period. The other regions studied in the report include North America, LAMEA, and Europe.
The key market players analyzed in the global castor oil derivatives market report include Hokoku Corporation, Kanak Castor Products, Girnar Industries, Gokul Agri International, Vertellus, NK Industries Ltd, Xingtai Lantian Fine Chemicals Ltd., Krishna Antioxidant Pvt. Ltd., Kokura Gosei Kogyo Ltd., ITOH Oil Chemical Ltd., Jayan Agro Organics Ltd., Adani Wilmar, Thai Castor Oil Industries Ltd., Sebacic India Pvt. Ltd., and Arvali Castor Derivatives Pvt. Ltd. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.
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*Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
*Pawan Kumar, the CEO of Allied Market Research*, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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