The United States Castor Oil Derivatives Market has a 10.3% market share in 2023, leading in North America. However, it’s not the overall market leader. The US market benefits from the growing green trend and increasing adoption of herbal and organic products. In India, the market is projected to grow at a CAGR of 5.9% from 2023 to 2033.
/EIN News/ — NEWARK, Del, May 12, 2023 (GLOBE NEWSWIRE) — Demand for castor oil derivatives market is anticipated to expand its roots at an average CAGR of 4.9% between 2023 and 2033. The market is expected to have a market share of US$ 2.21 Billion by 2033 while it is likely to be valued at US$ 1.37 Billion in 2023.
- The expansion of pharmaceutical, cosmetic, and personal care industries is flourishing the demand for castor oil derivatives. Furthermore, the increasing pollution is also pushing end users to look for herbal products to safeguard their skin and hair.
- The medicinal usage of castor oil derivatives for effective immunity and is helpful in constipation. Along with it, pharmaceutical lotions for joint pain and arthritis are expanding the market verticals.
- The long range of applications including castor oil derivatives as a bio-energy source is gaining traction for the market and its future possibilities during the forecast period.
- Enhancing blood circulation, and effective impact on the moles and cysts are garnering market growth. The increased manufacturing facilities in emerging economies are thriving the demand for castor oil derivatives.
- Lastly, the most important application of castor oil derivatives on hair is that it strengthens and thickens the hair. These derivatives have no or lower side effects. Alongside this, the rising usage of alternative medicine in developed economies is also propelling market growth.
Get an overview of market drivers and challenges affecting this industry: https://www.futuremarketinsights.com/reports/sample/rep-gb-474
- Indian market leads the castor oil derivatives market in terms of CAGR in the Asian region. The India region thrives at a CAGR of 5.9% between 2023 and 2033. The growth in this region is attributed to the expanding production and exporting capacity along with the higher government efforts.
- In 2023, the Japanese market holds a market share of 3.6% in the global market, attributed to the higher penetration of the cosmetic industry.
- The German castor oil derivatives market is another significant market in the region. The market holds a market share of 5.8% in 2023. The growth is attributed to the presence of major cosmetic and pharmaceutical brands along with the joint efforts of the European government.
- The pharmaceutical segment leads the application type segment as it holds a market share of 22.5% in 2023. The growth is attributed to the higher consumption and its helpful proposition on constipation.
- Based on the classification, the industrial segment leads as it holds a market share of 74.7% in 2023.
The key vendors work on application-specific castor oil derivatives along with increasing the production capacity. Key competitors and also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel.
Didn’t find the data you are looking for? Our experts provide you with customized reports: https://www.futuremarketinsights.com/customization-available/rep-gb-474
Recent Market Developments:
- Sebacic India Pvt. Ltd. Has introduced its “From black to green” program that produces powder sebacic acid and grain sebacic acid with white crystalline powder and white granular.
- Adani Wilmer and Royal Castor Products are engaging in third-generation castor seeds and castor oil derivatives. This development has fueled the presence of Indian dominance in the global market.
- BASF SE
- Hengshui Jinghua Chemical Co., Ltd.
- N.K. Proteins Pvt. Ltd.
- Thai Castor Oil Industries Co. Ltd.
- Sebacic India Pvt. Ltd.
- HOKOKU Co. Ltd.
- Adani Wilmar Ltd.
- Gokul Agri International Ltd.
- RPK Agrotech
- Arvalli Castor Derivatives Pvt Ltd.
- Krishna Antioxidants Pvt. Ltd.
Key Segments Covered:
- Undecylenic Acid
- Sebacic Acid
- Castor Wax
- Dehydrated Castor Oil
- Cosmetics & Pharmaceuticals
- Plastics & Resins
- North America
- Latin America
- East Asia
- South Asia
- The Middle East & Africa
Are you looking for deep information related to the latest trends, drivers, and challenges? Speak to Our Analyst @ https://www.futuremarketinsights.com/ask-question/rep-gb-474
Table of Content (ToC):
1. Executive Summary | Castor Oil Derivatives Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Kilotons) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Kilotons) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
Buy Now: https://www.futuremarketinsights.com/checkout/474
Have a Look at Trending Reports of the Chemicals & Materials Domain:
Refrigeration Oil Market Share: Sales in the refrigeration oil market are expected to increase at a CAGR of 4.9% during the period of 2022 and 2032.
Oilfield Chemicals Market Size: Increasing applications across diverse oilfield operations such as production, drilling, well stimulation, enhanced oil recovery, cementing, and hydraulic fracturing is propelling the demand for oilfield chemicals in the market.
Oilfield Stimulation Chemicals Market Trends: Oilfield Stimulation Chemicals are revolutionary products that are designed to support and enhance the stimulation process during oil extraction.
Oilfield Production Chemicals Market Outlook: The global business is anticipated to witness a considerable CAGR of 4.0% during the period of 2022 and 2028.
Oil & Gas Pipeline Coatings Market Demand: Demand in the oil & gas pipeline coatings market is projected to grow at a value of 5.6% CAGR between 2022 and 2029.
Europe Rubber Derived Unrefined Pyrolysis Oil Market Growth: Sales of rubber-derived unrefined pyrolysis oil are projected to increase at a healthy CAGR of 5.5% and top a valuation of US$ 12,202.5 Thousand by 2032.
Crude Oil Flow Improvers Market Type: Crude Oil Improvers market value is expected to reach US$ 2,815.5 Million by 2033, with a steady growth rate of 5.3%.
Coil Coatings Market Analysis Forecast: The rapid expansion of the construction industry owing to the rising disposable income and increasing government investment in public infrastructure is set to propel sales.
Boiler Water Treatment Chemicals Market Sale: The market for boiler water treatment chemicals is growing at a fast pace owing to increasing application of boilers in commercial, industrial and manufacturing sectors.
Waste-derived Pyrolysis Oil Market Value: The global business is projected to grow 4.7% over the forecast period of 2022 and 2029.
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
LinkedIn | Twitter | Blogs | YouTube
For Sales Enquiries: [email protected]
Originally published at https://www.einpresswire.com/article/633286964/global-castor-oil-derivatives-market-is-projected-to-surpass-a-worth-of-us-2-21-billion-by-2033-at-a-cagr-of-4-9-data-analysis-by-future-market