According to the latest report by IMARC Group titled, “North America Castor Oil Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, the market reached a volume of 59.6 Kilo Tons in 2020. Looking forward, the market expects to exhibit stable growth during 2021-2026.
Castor oil is a pale viscous fatty oil, which is extracted from the seeds of Ricinus Communis plant. It has anti-inflammatory and antioxidant properties, owing to which it is widely utilized in the food and beverage (F&B) industry as a food additive and mold inhibitor. Other than this, it is also employed in the manufacturing of brake fluid, caulks, adhesives, dyes, lubricants, oils, paints, pigments, inks, surfactants, soaps, polishes, flypapers, textiles, washing powders and waxes.
Market Trends
The implementation of stringent environmental regulations by governments in the North American countries has led to a rise in the adoption of castor oil-based biodiesel that has low cloud and pour points, which make it suitable for use in cold temperatures. Moreover, castor oil is rich in ricinoleic acid, which makes it useful in the manufacturing of lotions and makeup removers. Additionally, castor oil is utilized as a bio-based polyol in the polyurethane industry and the production of chemicals, such as sebacic acid and undecylenic acid, which is creating a positive outlook for the market in the North American region.
Leading Players in Global Castor Oil Industry: Archer Daniels Midland Co (NYSE: ADM), Bunge Ltd (NYSE: BG), Cargill, Louis Dreyfus, and Wilmar.
Request to get sample report: https://www.imarcgroup.com/north-america-castor-oil-market/requestsample
Insights on Market Segmentation:
Breakup by End-Use
- Pharmaceuticals
- Lubricants
- Paints
- Soaps
- Others
Breakup by Country
- United States
- Canada
Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/north-america-castor-oil-market
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