Castor Oil Derivatives Market Forecast and Segments, 2015-2025

Castor oil is one of the most multipurpose plant oils, obtained by pressing the seed of the castor oil plant (Ricinus communis).It is well known source of a monounsaturated, ricinoleic and 18-carbon fatty acid. Owing to its unique chemical structure and rich properties, castor oil and its derivatives find uses in many industries such as cosmetics, food, lubricants, paints, agriculture, electronics & telecommunications, pharmaceuticals, perfumeries, plastics and rubber, inks & adhesives and textile chemicals. After plant oils, castor oil is considered to be the most required oil. However, growing concerns pertaining to biofuels specially biodiesel and biopolymer across the globe is pushingcastor oil to play a much larger role in the world economy.

Castor Oil Derivatives: Drivers & Restraints

Growth of major end-use industries (includes lubricants, cosmetics and pharmaceuticals) and increasing demand for sustainable products & biodegradable, on account of reducing dependence on petrochemicals is anticipated to fuel the demand for castor oil derivatives market. Also regulatory support and rising prices of alternative renewable chemicals is expected to drive the global castor oil derivatives market. However, factors influencing its manufacturing cost includes raw material availability, weather uncertainties, shortage of working capital, techniques & methods used for extraction and availability of substitute oil are resulting in restraints for the castor oil derivative market.

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Castor Oil Derivatives: Segmentation

On the basis of product type, the global castor oil derivatives market is segmented into Undecylenic Acid, Sebacic Acid (largest consumed castor oil derivatives), Castor Wax or Hydrogenated castor oil (HCO), Dehydrated Castor Oil (DCO) and others. On the basis of application, global castor oil derivatives market is segmented into Lubricants, Cosmetics &...