Latin America Castor Oil & Derivatives Market Size & Outlook
Latin America castor oil & derivatives market, 2018-2030 (US$M)
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Latin America castor oil & derivatives market highlights
- The Latin America castor oil & derivatives market generated a revenue of USD 24.7 million in 2023.
- The market is expected to grow at a CAGR of 6.5% from 2024 to 2030.
- In terms of segment, sebacic acid was the largest revenue generating product in 2023.
- 12HSA is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Argentina is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 24.7 million |
| Market revenue in 2030 | USD 38.3 million |
| Growth rate | 6.5% (CAGR from 2023 to 2030) |
| Largest segment | Sebacic acid |
| Fastest growing segment | 12HSA |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Sebacic acid, 12HSA, Ricinoleic Acid, Hydrogenated Castor Oil, Undecylenic Acid, Dehydrated Castor Oil |
| Key market players worldwide | Thai Oil PCL ADR, Adani Wilmar, Hokuriku Electric Power Co Inc, ITOCHU Corp, Jayant Agro-Organics, RPK Group, Taj Agro, N K Proteins, Castor, Liaoning Shengde Huaxing Chemical Co., Gokul Agro Resources, Vertellus, Yuki Gosei Kogyo |
Other key industry trends
- In terms of revenue, Latin America region accounted for 1.9% of the global castor oil & derivatives market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Europe is the fastest growing regional market and is projected to reach USD 473.3 million by 2030.
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Castor Oil & Derivatives Market Scope
Castor Oil & Derivatives Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America castor oil & derivatives market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to castor oil & derivatives market will help companies and investors design strategic landscapes.
Sebacic acid was the largest segment with a revenue share of 26.72% in 2023. Horizon Databook has segmented the Latin America castor oil & derivatives market based on sebacic acid, 12hsa, ricinoleic acid, hydrogenated castor oil, undecylenic acid, dehydrated castor oil covering the revenue growth of each sub-segment from 2018 to 2030.
Castor oil is significantly used for manufacturing products such as bioplastics, lubricants, surface coatings, cosmetics, and pharmaceuticals. Major castor producing countries in the region include Brazil, Paraguay, Equador, Peru, and Argentina.
In South America, castor oil is extensively used as a feedstock to produce biofuel. Countries in the region give subsidies, tax benefits, and incentives for cultivating castor seeds. For instance, the Brazilian government supports and gives tax incentives to farmers for growing castor.
This has attracted local manufacturers to blend castor with sugarcane, corn, and jatropha during the production of biofuel. However, the domestic production of castor oil is not sufficient to meet its demand, hence most of the countries in South America are highly dependent on imports from India.
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Our clientele includes a mix of castor oil & derivatives market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America castor oil & derivatives market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America castor oil & derivatives market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America castor oil & derivatives market size, by country, 2018-2030 (US$M)
Latin America Castor Oil & Derivatives Market Outlook Share, 2023 & 2030 (US$M)
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