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Castor Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Report Overview:

The global castor oil market reached a volume of 740.5 Kilo Tons in 2020. Looking forward, IMARC Group expects the market to reach a volume of 804.2 Kilo Tons by 2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Castor oil, produced from castor beans, is a multi-purpose vegetable oil sourced from castor beans which are primarily found in the tropical areas of Africa and Asia. It is an active ingredient with pale yellow, translucent texture and a mild odour. Castor oil has antimicrobial, anti-inflammatory and moisturising properties and thus, it is considered safe for skin and hair. Owing to this, castor oil remains a popular choice among consumers to naturally treat their common conditions like constipation as well as skin problems. Apart from this, it also finds major applications in the industrial sector for the processing of a wide variety of products. 

Global Castor Oil Market Drivers/Constraints:

  • Castor oil is becoming an essential bio-based raw material which makes it ideal for various industrial applications. As a result, its demand is rising as a potential alternative to petroleum-based chemicals.
  • On account of its distinctive chemical structure, castor oil acts as a major raw material which is used in the production of various end products such as biodiesel, polyurethane adhesives, machining oils, refrigeration lubricants, etc. This versatile nature of castor oil has been contributing towards the propelling growth of the market.
  • As compared to other vegetable oils, castor oil is a healthier and less expensive alternative. Owing to this, food grade castor oil has gained a momentum in the food industry in the form of flavourings, mould inhibitor, food additives and packaging.
  • The global castor oil market is being hindered by the unstable prices of castor beans which is the result of their fluctuating supply. This supply highly depends upon the weather conditions of the region and a long harvesting process of castor beans. 


Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global castor oil market, along with forecasts at the global and regional level from 2021-2026. Our report has categorized the market based on end-use.

Breakup by End-Use:

  • Pharmaceuticals
  • Lubricants
  • Paints
  • Soaps
  • Others
     

The market has been segmented on the basis of end-use which mainly include pharmaceuticals, lubricants, paints and soaps. Currently, castor oil is extensively used in the pharmaceutical industry in the form of an anti-inflammatory agent.

Regional Insights:

  • China
  • Europe
  • India
  • United States 
  • Brazil
  • Others
     

On a geographical basis, China represents the largest market for castor oil. This can be attributed to the rapid growth in the cosmetic, surface coating and pharmaceutical industries across the region. China is followed by Europe, India, the United States and Brazil.

Competitive Landscape:

The market is highly fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:

  • Adani Wilmar
  • Jayant Agro
  • Gokul Overseas
  • Kandla Agro & Chemicals
     

Report Coverage:

Report Features Details
Base Year of the Analysis 2020
    Historical Period 2015-2020
Forecast Period 2021-2026
Units US$ Million, ‘000 Tons
Segment Coverage End-Use, Region
Region Covered  China, Europe, India, United States, Brazil
Companies Covered Adani Wilmar, Jayant Agro, Gokul Overseas and Kandla Agro & Chemicals
Customization Scope 10% Free Customization
           Report Price and Purchase Option                                     Single User License: US$ 2499
Five User License: US$ 2999
Corporate License: US$ 3499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Castor Seed Industry
    5.1    Market Overview
    5.2    Market Performance
    5.3    Market Breakup by Region
    5.4    Market Forecast
6    Global Castor Oil Industry
    6.1    Market Overview
    6.2    Market Performance
        6.2.1     Volume Trends
        6.2.2     Value Trends
    6.3    Impact of COVID-19
    6.4    Price Analysis
        6.4.1     Key Price Indicators
        6.4.2     Price Structure
        6.4.3     Price Trends
    6.5    Market Breakup by Region
    6.6    Market Breakup by End Use
    6.7    Market Forecast
    6.8    SWOT Analysis
        6.8.1    Overview
        6.8.2    Strengths
        6.8.3    Weaknesses
        6.8.4    Opportunities
        6.8.5    Threats
    6.9    Value Chain Analysis
    6.10    Porter’s Five Forces Analysis
        6.10.1    Overview
        6.10.2    Bargaining Power of Buyers
        6.10.3    Bargaining Power of Suppliers
        6.10.4    Degree of Competition
        6.10.5    Threat of New Entrants
        6.10.6    Threat of Substitutes
    6.11    Key Market Drivers and Success Factors
7    Performance of Key Regions
    7.1    China
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Europe
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    India
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    United States 
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    Brazil
        7.5.1 Market Trends
        7.5.2 Market Forecast
    7.6    Others
        7.6.1 Market Trends
        7.6.2 Market Forecast
8    Market Breakup by End Use
    8.1    Pharmaceuticals
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Lubricants
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Paints
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Soaps
        8.4.1 Market Trends
        8.4.2 Market Forecast
    8.5    Others
        8.5.1 Market Trends
        8.5.2 Market Forecast
 9    Competitive Landscape
    9.1    Competitive Structure
    9.2    Market Breakup by Key Players
10    Castor Oil Manufacturing Process
    10.1    Product Overview
    10.2    Detailed Process Flow
    10.3    Various Types of Unit Operations Involved
    10.4    Mass Balance and Raw Material Requirements
11    Project Details, Requirements and Costs Involved
    11.1    Land Requirements and Expenditures
    11.2    Construction Requirements and Expenditures
    11.3    Plant Layout
    11.4    Plant Machinery
    11.5    Machinery Pictures
    11.6    Raw Material Requirements and Expenditures
    11.7    Raw Material and Final Product Pictures
    11.8    Packaging Requirements and Expenditures
    11.9    Transportation Requirements and Expenditures
    11.10    Utility Requirements and Expenditures
    11.11    Manpower Requirements and Expenditures
    11.12    Other Capital Investments
12    Loans and Financial Assistance
13    Project Economics

    13.1    Capital Cost of the Project
    13.2    Techno-Economic Parameters
    13.3    Product Pricing and Margins Across Various Levels of the Supply Chain
    13.4    Taxation and Depreciation
    13.5    Income Projections
    13.6    Expenditure Projections
    13.7    Financial Analysis
    13.8    Profit Analysis
14    Key Player Profiles

List of Figures

Figure 1: Global: Castor Oil Market: Major Drivers and Challenges
Figure 2: Global: Castor Seed Market: Production Volume Trends (in ‘000 Tons), 2015-2020
Figure 3: Global: Castor Seed Market: Breakup by Region (in %), 2020
Figure 4: Global: Castor Seed Market Forecast: Production Volume Trends (in ‘000 Tons), 2021-2026
Figure 5: Global: Castor Oil Market: Production Volume Trends (in ‘000 Tons), 2015-2020
Figure 6: Global: Castor Oil Market: Production Value Trends (in Million US$), 2015 & 2020
Figure 7: Castor Oil Market: Price Structure (US$/Ton)
Figure 8: Global: Castor Oil Market: Average Prices (in US$/Ton), 2015 & 2020
Figure 9: Global: Castor Oil Market: Production Breakup by Region (in %), 2020
Figure 10: Global: Castor Oil Market: Breakup by Region (in %), 2020
Figure 11: Global: Castor Oil Market: Breakup by End Use (in %), 2020
Figure 12: Global: Castor Oil Market Forecast: Production Volume Trends (in ‘000 Tons), 2021-2026
Figure 13: Global: Castor Oil Market Forecast: Production Value Trends (in Million US$), 2021-2026
Figure 14: Global: Castor Oil Industry: SWOT Analysis
Figure 15: Global: Castor Oil Industry: Value Chain Analysis
Figure 16: Global: Castor Oil Industry: Porter’s Five Forces Analysis
Figure 17: China: Castor Oil Market (in ‘000 Tons), 2015 & 2020
Figure 18: China: Castor Oil Market Forecast (in ‘000 Tons), 2021-2026
Figure 19: Europe: Castor Oil Market (in ‘000 Tons), 2015 & 2020
Figure 20: Europe: Castor Oil Market Forecast (in ‘000 Tons), 2021-2026
Figure 21: India: Castor Oil Market (in ‘000 Tons), 2015 & 2020
Figure 22: India: Castor Oil Market Forecast (in ‘000 Tons), 2021-2026
Figure 23: United States: Castor Oil Market (in ‘000 Tons), 2015 & 2020
Figure 24: United States: Castor Oil Market Forecast (in ‘000 Tons), 2021-2026
Figure 25: Brazil: Castor Oil Market (in ‘000 Tons), 2015 & 2020
Figure 26: Brazil: Castor Oil Market Forecast (in ‘000 Tons), 2021-2026
Figure 27: Others: Castor Oil Market (in ‘000 Tons), 2015 & 2020
Figure 28: Others: Castor Oil Market Forecast (in ‘000 Tons), 2021-2026
Figure 29: Global Castor Oil Market: Pharmaceutical Applications (in ‘000 Tons), 2015 & 2020
Figure 30: Global Castor Oil Market Forecast: Pharmaceutical Applications (in ‘000 Tons), 2021-2026
Figure 31: Global Castor Oil Market: Lubricant Applications (in ‘000 Tons), 2015 & 2020
Figure 32: Global Castor Oil Market Forecast: Lubricant Applications (in ‘000 Tons), 2021-2026
Figure 33: Global Castor Oil Market: Paint Applications (in ‘000 Tons), 2015 & 2020
Figure 34: Global Castor Oil Market Forecast: Paint Applications (in ‘000 Tons), 2021-2026
Figure 35: Global Castor Oil Market: Soap Applications (in ‘000 Tons), 2015 & 2020
Figure 36: Global Castor Oil Market Forecast: Soap Applications (in ‘000 Tons), 2021-2026
Figure 37: Global Castor Oil Market: Other Applications (in ‘000 Tons), 2015 & 2020
Figure 38: Global Castor Oil Market Forecast: Other Applications (in ‘000 Tons), 2021-2026
Figure 39: Global: Castor Oil Market: Breakup by Key Players (in %)
Figure 40: Castor Oil Manufacturing Plant: Detailed Process Flow
Figure 41: Castor Oil Manufacturing: Conversion Rate of Feedstocks
Figure 42: Castor Oil Manufacturing: Proposed Plant Layout
Figure 43: Castor Oil Manufacturing Plant: Packaging Requirement
Figure 44: Castor Oil Manufacturing Plant: Breakup of Capital Costs (in %)
Figure 45: Castor Oil Industry: Profit Margins at Various Levels of the Supply Chain
Figure 46: Castor Oil Production: Manufacturing Cost Breakup (in %)
 
List of Tables

Table 1: Global: Castor Seed Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Castor Oil Market: Key Industry Highlights, 2020 and 2026
Table 3: Global: Castor Oil Market Forecast: Breakup by Region (in ‘000 Tons), 2021-2026
Table 4: Global: Castor Oil Market Forecast: Breakup by End Use (in ‘000 Tons), 2021-2026
Table 5: Global: Castor Oil Market: Competitive Structure
Table 6: Global: Castor Oil Market: Key Players
Table 7: Castor Oil (FSG): Typical Composition
Table 8: Castor Oil Manufacturing Plant: Costs Related to Land and Site Development (in US$)
Table 9: Castor Oil Manufacturing Plant: Costs Related to Civil Works (in US$)
Table 10: Castor Oil Manufacturing Plant: Costs Related to Machinery (in US$)
Table 11: Castor Oil Manufacturing Plant: Raw Material Requirements (in Tons/Day) and Expenditures (US$/Ton)
Table 12: Castor Oil Manufacturing Plant: Costs Related to Salaries and Wages (in US$)
Table 13: Castor Oil Manufacturing Plant: Costs Related to Other Capital Investments (in US$)
Table 14: Details of Financial Assistance Offered by Financial Institutions
Table 15: Castor Oil Manufacturing Plant: Capital Costs (in US$)
Table 16: Castor Oil Manufacturing Plant: Techno-Economic Parameters
Table 17: Castor Oil Manufacturing Plant: Taxation and Depreciation (in US$)
Table 18: Castor Oil Manufacturing Plant: Income Projections (in US$)
Table 19: Castor Oil Manufacturing Plant: Expenditure Projections (in US$)
Table 20: Castor Oil Manufacturing Plant: Cash Flow Analysis Without Considering the Income Tax Liability (in US$)
Table 21: Castor Oil Manufacturing Plant: Cash Flow Analysis on Considering the Income Tax Liability (in US$)
Table 22: Castor Oil Manufacturing Plant: Profit and Loss Account (in US$)

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Key Question Answered in this Report

The global castor oil market reached a volume of 740.5 Kilo Tons in 2020.

The rising utilization of castor oil in the production of cosmetics, medicines, toiletries, polyurethane adhesives, machining oils, refrigeration lubricants, etc., represents one of the key factors catalyzing the global castor oil market.

Sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of castor oil.

Based on the end use, the global castor oil market can be divided into pharmaceuticals, lubricants, paints, and soaps. Among these, the pharmaceutical sector currently accounts for the majority of the total market share.

On a regional level, the market has been classified into China, Europe, India, the United States, and Brazil, where China currently dominates the global market. 

Some of the major players in the global castor oil market include Adani Wilmar, Jayant Agro, Gokul Overseas, Kandla Agro & Chemicals, etc.

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