Market Updates Castor Oil Market - Global Industry Sales, Revenue

Castor Oil Market - Global Industry Sales,
Revenue, Price and Gross Margin Analysis
2017-2022
“Castor is one of the world’s top ten oil-seed crops
and it is highly competitive in the agriculture
environment. Castor cultivation is sustained by a
new wave of worldwide demand for castor oil and so
it enjoys great economic potential. ”
Global Castor Oil Market is segmented By End User into Lubricants, Surface Coatings, Biodiesel, Cosmetics and
Pharmaceuticals, Plastic and resins, and others. Castor is one of the world’s top ten oil-seed crops and it is highly
competitive in the agriculture environment. Castor cultivation is sustained by a new wave of worldwide demand for
castor oil and so it enjoys great economic potential. Castor oil can resist high combustion levels and has a low
consolidation level. As a result of its unique characteristics, it can fulfill the requirements of the aviation industry.
According to the statistics, there are currently 3 million hectares of land that is planted with castor around the world,
with 1.5 million tons of castor nuts harvested annually. Unfortunately, the existing demand for castor nuts is not
being met. Consequently, castor cultivation and its downstream industries offer tremendous opportunities.
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Castor plants play an important role in the agricultural economies because it enables them to earn substantial
foreign exchange through export of castor beans and oils. The major castor importing markets are the European
Union, the United States, Japan and now, China and Thailand. Castor oil has a worldwide demand that is rising 3 to 5
percent per annum. The world production of castor oil seeds is concentrated in a few countries. Consequently, there