The global castor oil and derivatives market is expected to experience a hike in growth during the forecast period 2016-2024. Drivers such as growing demand from the end-use industries such as cosmetics, lubricants, and pharmaceuticals and the growing demand for the products that are biodegradable and sustainable, owing to the reduced petrochemicals dependence could be responsible for the growth of this industry.
The region that dominated the castor oil derivatives market is Asia Pacific. The dominance in the global castor oil derivatives market is going to be continued in the coming years. The emerging nation, India accounted for the major production of castor oil derivatives globally. India is followed by other developing nations such as Brazil and China.