Mexico Castor Oil & Derivatives Market Size & Outlook
Mexico castor oil & derivatives market, 2018-2030 (US$M)
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Mexico castor oil & derivatives market highlights
- The Mexico castor oil & derivatives market generated a revenue of USD 10.8 million in 2023 and is expected to reach USD 15.8 million by 2030.
- The Mexico market is expected to grow at a CAGR of 5.6% from 2024 to 2030.
- In terms of segment, hydrogenated castor oil was the largest revenue generating product in 2023.
- Undecylenic Acid is the most lucrative product segment registering the fastest growth during the forecast period.
Castor oil & derivatives market data book summary
| Market revenue in 2023 | USD 10.8 million |
| Market revenue in 2030 | USD 15.8 million |
| Growth rate | 5.6% (CAGR from 2023 to 2030) |
| Largest segment | Hydrogenated castor oil |
| Fastest growing segment | Undecylenic Acid |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Mexico accounted for 0.8% of the global castor oil & derivatives market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. castor oil & derivatives market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 15.8 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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Mexico 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.
Hydrogenated castor oil was the largest segment with a revenue share of 32.41% in 2023. Horizon Databook has segmented the Mexico 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 seeds are mainly grown in clay soil of northwest Mexico. Castor plantation has been established in the region as a crop diversification tool owing to its high profitability. According to the Food and Agriculture Organization (FAO), the country was the 10th largest producer of castor seeds globally.
The area under cultivation and production volume declined in 2021, mainly owing to inadequate monsoon. Mexico emerged as the largest producer of castor oil in North America. However, to accomplish its domestic demand the country highly imports castor oil.
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Horizon Databook provides a detailed overview of country-level data and insights on the Mexico castor oil & derivatives market , including forecasts for subscribers. This country databook contains high-level insights into Mexico castor oil & derivatives market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico castor oil & derivatives market size, by product, 2018-2030 (US$M)
Mexico Castor Oil & Derivatives Market Outlook Share, 2023 & 2030 (US$M)
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