Global Castor Oil Market Report 2020: Size, Price Trends, Industry Growth and Forecast till 2025

02/nov/2020 07:28:15 IMARC Group Contatta l'autore

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According to IMARC Group’s recently published report titled “Castor Oil Market Size, Share, Growth, Price Trends, Opportunity and Forecast 2020-2025”, the market reached a volume of 790.5 Kilotons in 2019. Looking forward, the market is expected to exhibit moderate growth during 2020-2025.

Castor oil is a dense, yellow-colored, multi-purpose vegetable oil that is manufactured using castor beans sourced from the tropical areas of Asia and Africa. It exhibits high hydroxyl value and can be consumed in both refined and crude hydrogenated forms. Owing to its anti-microbial, anti-inflammatory and moisturizing properties, castor oil is extensively used in the production of soaps, cosmetics, industrial paints, varnishes, lubricants and adhesives. It is considered to be extremely effective in the treatment of skin problems and medical conditions such as constipation, and as a pain reliever for sore muscles, arthritic joints and nerve inflammation.

Global Castor Oil Market Drivers / Constraints:

There has been a significant increase in the demand for sustainable and biodegradable products in order to reduce dependency on petrochemicals. This is one of the primary factors which is driving the growth of the global castor oil market.

Manufacturers have started launching various new products which are formulated with the help of castor oil. This, in turn, has contributed towards an augmented worldwide demand for castor oil . 

Some of the other factors which are positively supporting the growth of the market include rising costs of other renewable resources and implementation of strict regulations regarding the use of eco-friendly products by governments across various nations.

However, unstable prices of castor plant, weather uncertainties and shortage of working capital are some of the factors which act as a hindrance towards the market growth.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Castor Oil Market 2020-2025 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of the major players operating in the castor oil industry include Adani Wilmar, Jayant Agro-Organics Ltd. (JAYAGROGN), Gokul Overseas, Kandla Agro & Chemicals and Others

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The report has segmented the market on the basis of End-Use and region.

Performance of Key Regions

1. China
2. Europe
3. India
4. United States
5. Brazil
6. Others

Market Breakup by End-Use

1. Pharmaceuticals
2. Lubricants
3. Paints
4. Soaps
5. Others

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IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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Read also: Soybean Oil Market Booming Worldwide with leading Players Archer Daniels Midland Co (NYSE: ADM), Bunge Ltd (NYSE: BG), Cargill, Louis Dreyfus, and Wilmar.  

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