Austin, July 08, 2025 (GLOBE NEWSWIRE) -- According to SNS Insider, the castor oil & derivatives market was valued at USD 1.42 billion in 2024 and is projected to reach USD 2.14 billion by 2032, expanding at a compound annual growth rate (CAGR) of 5.28% from 2025 to 2032.
The global demand for sustainable sourcing and plant-based alternatives continues to grow, with various industries, particularly cosmetics, pharmaceuticals, and industrial manufacturing, driving this change. The castor oil and derivatives market is gaining prominence. Castor oil is obtained from castor beans, and its high content of ricinoleic acid allows versatile processing into a variety of derivatives such as hydrogenated Castor oil, sebacic acid, and undecylenic acid. They are commonly utilized in lubricants, coatings, plastics, and personal care items. In a world where consumers and industries are looking for greener, biodegradable, and non-toxic materials, castor oil proves to be an eco-friendly and responsible alternative that meets the need.
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The United States is the key contributor to the market with a USD 176.07 million market size and growing at 61% of market share in 2024.
The country is the largest in terms of market share in the castor oil and derivatives market, which can be attributed to its well-established industrial base, advanced technological capabilities, and rising demand for bio-based and sustainable products manufacturing across industries. Due to their unique chemical properties and eco-friendly profile, castor oil derivatives are increasingly gaining importance in the manufacture of pharmaceuticals, cosmetics, automotive, and lubricant applications for American manufacturers.
Key Players:
- Jayant Agro Organics Limited
- Adani Wilmar Ltd.
- Thai Castor Oil Industries Co., Ltd.
- Hokoku Corporation
- Kanak Castor Products Pvt. Ltd.
- ITOH Oil Chemicals Co., Ltd.
- Vertellus
- BOM Brasil Óleo de Mamona Ltda
- Liaoyang Huaxing Chemical Co., Ltd.
- Gokul Agri International Ltd.
Castor Oil & Derivatives Market Report Scope:
| Report Attributes | Details |
| Market Size in 2024 | USD 1.42 billion |
| Market Size by 2032 | USD 2.14 billion |
| CAGR | CAGR of 5.28% From 2025 to 2032 |
| Base Year | 2024 |
| Forecast Period | 2025-2032 |
| Historical Data | 2021-2023 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Drivers | • Rising Adoption of Bio-based Castor Oil Products in Sustainable Personal Care Formulations. • Increasing industrial use of castor oil derivatives in biodegradable lubricants and polymers. |
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Market Segmentation
By Derivative Type
The castor oil and derivatives market were dominated by the sebacic acid segment in 2024, with a 44.5% share, attributable to its diverse product portfolio and growing applications in end-user industries. Sebacic acid is obtained from castor oil and is used in the manufacture of nylon, plasticizers, lubricants, and corrosion-resistant coatings. Providing flexibility, durability, and heat resistance, it is highly sought after by the automotive, aerospace, and construction sectors. Sebacic acid is a bio-derived chemical. As many industries are changing towards the use of bio- or renewable and green raw materials, sebacic acid has emerged as an attractive, sustainable alternative for many petrochemical-based chemicals.
By End Use
The plastics and resins segment accounted for the maximum share of the castor oil and derivatives market, which was 27.0% in 2024, due to the increasing bio-based polymers demand and shift toward sustainable raw materials in the manufacturing sector. Specifically, castor oil derivatives like sebacic acid and undecylenic acid are unique synthesis bases utilized in the production of polyamides (including nylon 11 and nylon 610), polyurethanes, and other specialty resins with superior flexibility, chemical resistance, and thermal stability.
Regional Analysis
Asia Pacific held a dominant position in the castor oil and derivatives market with well over 43% of the global market share. Among the many beneficial sources, castor oil is one of the main supplies, and India is the world’s top producer and exporter of this tropical oil, providing a significant share of worldwide needs. It has conducive agroclimatic conditions for castor cultivation, a large agricultural workforce, and a low-cost production process in the region. Furthermore, increasing demand from end-use industries such as automotive, pharmaceuticals, cosmetics, and plastics in countries such as China, Japan, and South Korea has bolstered the consumption of castor oil derivatives in the region.
Recent Developments
- In March 2025, Jayant Agro-Organics Ltd. announced it will expand its production facility for hydrogenated castor oil in Gujarat, India, to satisfy growing demand from the European and American markets.
- In October 2024, Hokoku Corporation collaborated with a German biotech firm to develop next-generation biopolymers using sebacic acid derived from castor oil, aligning with their sustainable materials innovation program.
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