"Innovative Market Solutions to Help Businesses Make Informed Decisions"

Castor Oil Derivatives Market Size, Share & COVID-19 Impact Analysis, By Product Type (Sebacic Acid, Ricinoleic Acid, Hydrogenated Castor Oil, 12-Hydroxy Stearic Acid, Dehydrated Castor Oil and Others), Application (Cosmetic & Pharmaceuticals, Plastic & Resins, Lubricants, Biodiesel, and Others) and Regional Forecast, 2020-2027

Last Updated: May 27, 2024 | Format: PDF | Report ID: FBI100537



Play Audio Listen to Audio Version

The global castor oil derivatives market size was USD 1,035.4 million in 2019 and is projected to reach USD 1,429.7 million by 2027, exhibiting a CAGR of 4.3% during the forecast period.

Castor oil and its derivatives are multi-featured chemicals and widely used in the manufacturing of paints, lubricants, coatings, cosmetics, pharmaceuticals, and other products. Owing to their excellent chemical properties, these derivatives are gaining popularity. Leading ingredient manufacturing companies are launching castor oil-based ingredients to tap opportunities in the green chemicals market. For instance, in August 2020, BASF SE launched a Lamesoft Balance, a hydrogenated castor oil-based product to stabilize ingredients in hair and skin cleansing formulations. It helps in providing homogeneous rheology in cleansing formulations, which is often challenging to obtain. Such activities are fueling the castor oil derivatives market growth. 

Utmost Impact on Global Trade of Castor Oil and Derivatives During COVID-19

India, Brazil, and China are leading suppliers of castor oil in the world. Amid the COVID-19 outbreak, the production of castor oil in these countries was severely hit due to limited or no access to manufacturing sites, limited feedstock, and manpower. Disrupted supply chains and declined production further resulted in an export downturn. For instance, according to ‘The Solvent Extractors Association of India’ and global industry expert estimates, global demand and export of castor oil may fall by 10-30% due to weaker demand following the pandemic. However, with the gradual lifting of lockdowns and supply chains normalization in the world is projected to show growth in the last quarter of 2020.  


Request a Free sample to learn more about this report.

Increasing Adoption of Castor Oil Derivatives in Personal Care Products is a Key Trend

The cosmetics and perfumeries segment is one of the emerging applications of castor oil derivatives in the global market. Castor wax, castor oil esters, zinc ricinoleate, undecylenic acid are few of the key derivatives used in the manufacturing of hair care, skincare & lip care products, and perfumeries. These derivatives perform different roles during cosmetic manufacturing such as surfactants, emulsion stabilizers, skin conditioning agents, and others. With the increasing demand for natural cosmetics products globally, the adoption of natural ingredients is expected to increase in the future. In March 2020, Revlon launched a new collection of hair care products based on black castor oil, aloe vera, and vitamins under its ‘Creme of Nature’ brand.     


Diverse Application of Castor Oil is Driving the Growth of Market

Because of the unique fatty acid structure, castor oil and its derivatives offer vast advantages as compared to other vegetable oils. Applications of oils derived from cotton, coconut, soy, corn, rapeseed are limited mostly to edible purposes. Castor oil derivatives are renewable, natural, and versatile in physicochemical properties. Thus, these products are preferred as a key raw material in multiple applications including lubricants, oleo-chemicals, medical, cosmetics, pharmaceuticals, bio-energy among others. Owing to the rising importance of green chemicals globally, the market is expected to indicate stable growth in the forthcoming years. 


Wavering Prices of Raw Materials to Restrain Growth

Castor oil is a prime feedstock for the production of its derivatives. The castor oil yield is highly dependent on conditions such as temperature, light, rainfall, soil characteristics, latitude, altitude among others. Depending on the yield, the price of castor oil is decided. The unstable prices affect downstream production and demand of castor oil derivatives, thus reducing profit margins. However, with the rapid adoption of modern agricultural practices backed by government policies will elevate the business of oils in the near future.


By Product Type Analysis

Sebacic Acid Segment Accounted for the Largest Revenue Share of the Global Castor Oil Derivatives Market

Sebacic acid is a bio-based and unique feedstock for the production of biopolymers. Owing to performance benefits such as durability, hydrophobicity, flexibility, and low melting points, it is widely adopted in the manufacturing of polyamides. Moreover, sebacic acid is adopted as an additive in lubricants, as a buffering agent in personal care products, as a corrosion inhibitor, and in the production of esters. Such diversity of sebacic acid among different applications is boosting the growth of the segment. Also, continuous advancement in bioplastics is propelling demand for sebacic acid as a key raw material.

By Application Analysis

To know how our report can help streamline your business, Speak to Analyst

Plastic & Resin Segment to Hold the Major Share of the Global Market

In 2019, the Plastic & Resin segment held the largest castor oil derivatives market share of 36.5% in the global market. These oil derivatives are extensively used in the manufacturing of plastic & resins, which are further used in paint, coating, inks, and other polymer applications. For instance, 12-hydroxy stearic acid is used as a feedstock to produce acrylic polymers. Moreover, the increase in the consumption of bioplastics globally is fueling demand for castor oil and its derivative in bioplastic production. According to the research study of Fortune Business Insights, the global bioplastics market is projected to register a CAGR of 16.2% during the forecast period.  


Asia Pacific Castor Oil Derivatives Market Size, 2019 (USD Million)

To get more information on the regional analysis of this market, Request a Free sample

Owing to the high presence of castor oil and its derivatives, Asia Pacific contributed a major share in the market in 2019. The region is also projected to register the fastest CAGR of 5.3% in terms of value. China is the global leader in the production and export of sebacic acid with a capacity of more than 210-kilo tons. Due to the abundance of castor seeds, India has become a producer & exporter of castor oil and castor oil derivatives such as 12-hydroxy stearic acid, castor wax, dehydrated castor oil, undecylenic acid among others. China, the USA, European Union are key export destinations for India. According to The Solvent Extractors Association of India, China holds around 40% of castor oil export from India followed by Europe 30-35%.

Europe was the second-largest consumer of castor oil derivatives in 2019. Increasing adoption and favorable government regulations regarding the use of bio-based chemicals is expected to drive the market growth in the near future. In 2019, the European Commission launched a ‘Green Deal’ to become a carbon-neutral region by 2050. This deal is backed by policy reforms and adopting green technologies across chemical industries operating in Europe. Therefore, both manufacturers and consumers are shifting preference for bio-based chemicals in Europe. Thus, such initiatives by the government are expected to propel the demand for this oil derivatives in Europe in the foreseeable future.     


Leading Players to Focus on Securing Sustainable Feedstock to Meet the Growing Demand

Securing feedstock for the production of castor oil derivatives is a key strategy followed by leading producers in the market. Jayant Agro Organics Limited, one of the leading producers and exporters of castor oil and its derivatives is taking the initiative to improve castor feedstock in India. In 2016, the company launched the ‘Pragati’ project in association with BASF and Arkema to develop more sustainable farming practices in India. Through this initiative, these companies are helping local Indian farmers to increase the yield of castor oil and supporting their economic growth each year.


  • Hengshui Jinghua Chemical Co., Ltd. (China)

  • N.K. Proteins Pvt. Ltd. (India)

  • Thai Castor Oil Industries Co. Ltd. (Thailand)

  • Sebacic India Pvt. Ltd. (India)

  • HOKOKU Co. Ltd. (Japan)

  • Adani Wilmar Ltd. (India)

  • Gokul Agri International Ltd. (India)

  • RPK Agrotech (India)

  • Arvalli Castor Derivatives Pvt Ltd. (India)

  • Krishna Antioxidants Pvt. Ltd. (India)


February 26, 2016: India based Shipra Agrichem invested around US$ 62.7 million to develop the first sebacic acid plant in Oman. The plant capacity is 30-kilo tons per year and the produced quantities are aimed to export to Europe, China, Japan, and the United States.  


An Infographic Representation of Castor Oil Derivatives Market

To get information on various segments, share your queries with us

The castor oil derivatives market research report provides both qualitative & quantitative insights into the market. Quantitative insights include the global market sizing in terms of value (USD Million) and volume (Kilo Tons) across each segment, sub-segment, and region profiled in the scope of the study. Also, the report covers market share analysis and growth rates of the segment, sub-segments, and key counties across each region. Qualitative insight covers an elaborative analysis of market drivers, restraints, growth opportunities, key trends related to the market. The competitive landscape section covers detailed company profiling of the key players operating in the global market.

Report Scope & Segmentation



Study Period


Base Year


Forecast Period


Historical Period



  Value (USD Million) & Volume (Kilo Tons)


  Product Type, Application, and Geography

By Product Type


  • Sebacic Acid

  • Ricinoleic Acid

  • Hydrogenated Castor Oil

  • 12-Hydroxy Stearic Acids

  • Dehydrated Castor Oil

  • Others

By Application


  • Cosmetic & Pharmaceuticals

  • Plastic & Resins

  • Lubricants

  • Biodiesel

  • Others

By Geography


  • North America

    • By Product Type

    • By Application

    • By Country

      • The U.S.

      • Canada

  • Europe

    • By Product Type

    • By Application

    • By Country

      • Germany

      • UK

      • France

      • Italy

      • Rest of Europe

  • Asia Pacific

    • By Product Type

    • By Application

    • By Country

      • China

      • India

      • Japan

      • ASEAN

      • Rest of Asia Pacific

  • Latin America

    • By Product Type

    • By Application

    • By Country

      • Brazil

      • Mexico

      • Rest of Latin America

  • Middle East & Africa

    • By Product Type

    • By Application

    • By Sub-Region

      • Middle East

      • Africa

Frequently Asked Questions

Fortune Business Insights Market Research Reports says that the market size was USD 1,035.4 million in 2019 and is projected to reach USD 1,429.7 million by 2027.

Registering a compounded annual growth rate of 4.3%, the market will exhibit steady growth in the forecast period (2020-2027).

The plastic & resins segment is expected to be the leading application segment in the market during the forecast period.

The growing utilization of castor oil derivatives by end-use industries is a key factor driving the growth of the market.

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. are the leading players in the global market.

Asia Pacific dominated the global market in terms of share in 2019.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
  • 2019-2032
    (In Process)
  • 2023
    (In Process)

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Chemicals & Materials Clients


Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.