North America Castor Oil & Derivatives Market Size & Outlook
North America castor oil & derivatives market, 2018-2030 (US$M)
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North America castor oil & derivatives market highlights
- The North America castor oil & derivatives market generated a revenue of USD 184.1 million in 2023.
- The market is expected to grow at a CAGR of 5.1% from 2024 to 2030.
- In terms of segment, hydrogenated castor oil was the largest revenue generating product in 2023.
- Ricinoleic Acid is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 184.1 million |
| Market revenue in 2030 | USD 260.6 million |
| Growth rate | 5.1% (CAGR from 2023 to 2030) |
| Largest segment | Hydrogenated castor oil |
| Fastest growing segment | Ricinoleic Acid |
| 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, North America region accounted for 14.0% 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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North 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.
Hydrogenated castor oil was the largest segment with a revenue share of 29.98% in 2023. Horizon Databook has segmented the North 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.
North America emerged as one of the significant consumers of castor oil owing to the increased consumption of bio-based plastics, lubricants, diesel, and cosmetics in the region. Demand for the biogenic constituent in automotive, textile, packaging, paint, and construction industries is witnessing growth in the region.
In addition, increasing demand for castor-based supplements to encourage healthy growth of hair and skin is expected to drive the market. North America mainly imports castor oil from countries such as India, Brazil, and China, accounting for over 95% of the market consumption.
In the recent years, attempts have been made to revive American industry in the growth of domestic castor crops. As a result, the plants are grown commercially in parts of New Mexico, Texas, and the Midwestern U.S.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America castor oil & derivatives market , including forecasts for subscribers. This continent databook contains high-level insights into North America castor oil & derivatives market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America castor oil & derivatives market size, by country, 2018-2030 (US$M)
North America Castor Oil & Derivatives Market Outlook Share, 2023 & 2030 (US$M)
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