Jamaica Eyes on Castor Oil

With increasing demand for castor oil and its related products, Jamaican stakeholders are planning to venture into this exciting industry which is expected to grow to over US$ 2 billion in the next seven years.castor-oil-800067

According to Jamaica Castor Industry Association (JCIA) while the association has only been formally registered since January 2017 it has been working since last year to sensitise stakeholders in the castor industry and recruit members.

Jamaica has also recently started a project “Grow Castor Bean”. The goal of the project is to provide a consistent supply of castor oil to markets locally and internationally.

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Global Sebacic Acid Market to Increase in the Coming Years

Over the past few years, there has been an increase in demand for sebacic acid particularly for applications such as textiles, cosmetics, households and others. Increasing demand for textiles has escalated the growth of sebacic acid.Sebacic_acid_3D_ball

China is the leading producer of sebacic acid and exports around 100,000 metric tons. Owing to this, Asia-Pacific is estimated to be the largest market for Sebacic acid followed by Europe and North America.

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Impact of Existing and Emerging Castor Oil Derivatives Market Trends 2015-2025

Castor oil is one of the most multipurpose plant oils. After plant oils, castor oil is considered to be the most required oil. However, growing concerns pertaining to biofuels specially biodiesel and biopolymer across the globe is pushing castor oil to play a much larger role in the world economy.castor-oil-800067

Growth of major end-use industries (lubricants, cosmetics and pharmaceuticals) and increasing demand for sustainable products & biodegradable is anticipated to fuel the demand for castor oil derivatives market. Also regulatory support and rising prices of alternative renewable chemicals is expected to drive the global castor oil derivatives market.

However factors such as manufacturing cost is causing restraints for the castor oil derivatives market.

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Global Castor Oil & Derivatives Market to Reach USD 2.3 Billion Soon

The global castor oil and derivatives market is expected to reach USD 2.30 billion by 2024. The market is estimated to witness a high growth owing to increase in demand for biodegradable products and increasing trend to reduce dependence on petrochemicals are expected to foster the market growth.images

Asia Pacific dominated the overall market. Growth in end-use markets such as personal care, lubricants, and pharmaceuticals is presumed to fuel the regional demand over the next eight years.

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Undecylenic Acid Market to Grow at a CAGR of 5.8% by Value

Global undecylenic acid market size was estimated at over 170 kilo tons in 2015 and is likely to exceed 240 kilo tons by 2023, growing at a CAGR of over 4.2%. This market is was worth over USD 310 million in 2015 and is likely to be valued more than USD 520 million by 2023, growing at a CAGR of over 5.8%.undecylenic-acid

FDA approval for medical applications is likely to favor undecylenic acid market growth over the forecast period. It is also used against candida infection and also relives irritation, itching and burning sensations on skin.

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Bioplastics Market & Strategy Consulting – from Bioplastics Guide

EAI, the parent company of CastorOil.in, had been studying the bioplastics industry for the past few years and in the recent past we had the opportunity to look at the sector, in India and worldwide at close quarters.

Based on these, we have put together an exclusive team to provide strategic and market consulting for the global bioplastics industry.

If you are interested in the bioplastics sector and the opportunities it presents, see here to know how the Bioplastics Guide can help you get a strategic understanding of the bioplastics market.

Jamaica Conducting Study on Castor Oil Industry

Jamaica has undertaken a study on the local castor oil industry as the country moves to take advantage of a global market expected to value an estimated US$1.81 imagesbillion by 2020.

The study was commissioned by the Jamaica Promotions Corporation (JAMPRO) and examined recommendations for development and steps to capitalise on the Jamaica Black Castor Oil value chain.

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Global Castor Oil and Derivatives Market Expected to Increase by 2020

Castor oil and derivatives market has been growing at a good pace over the past few years on account of growing demand for bio-degradable products.

Recent market study has shown that increasing application scope of castor oil and derivatives in major end-use industries including pharmaceuticals, imagescosmetics & personal care, plastics & resins is expected to drive the castor oil market in future.

Shift in focus towards castor oil and derivatives due to stringent regulation from government boards such as EPA and PNGRB is also likely to create opportunity for market players.

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Castor Seed Price Weekly Report: Apr 18 – 23, 2016

CastorOil.in brings you the weekly report of castor seed price at Bombay Commodities Exchange.

Check out the table and the graphical data.

Price Date Rupees Per Quintal
19 Apr 3200
20 Apr 3200
21 Apr 3225
22 Apr 3225
23 Apr 3250

Castor Seed Price Weekly Report: Apr 18 – 23, 2016

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Castor Oil and Meal Prices – Feb 1 – 5, 2016

CastorOil.in brings you the weekly report of castor oil and meal prices at Bombay Commodities Exchange.

Check out the table and the graphical data.

Date Castor commercial oil Prices US$/MT Castor Meal US$/MT
1 Feb 2016 948
2 Feb 2016 970 70
3 Feb 2016 977 70
4 Feb 2016 984 70
5 Feb 2016 977 70

 

castor oil and meal prices - feb 1 to 5, 2016

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