Castor Wax Market Research Report – Global Forecast to 2030

Castor Wax Market Information by Applications (Personal Care, Healthcare, Lubricants, Grease, Wood Polishing, Automotive polishing, and others), by End-Use Industries (Cosmetics & Personal Care Industry, Paints & Coatings Industry, Pharmaceuticals, Automotive Industry, Textile Industry, Leather Industry, Paper Industry, and others), and by Region- Forecast till 2030

ID: MRFR/CnM/2693-HCR | August 2022 | Region: Global | 140 Pages         

TABLE OF CONTENTS

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape

4.1 Five Forces Analysis

4.1.1 Threat of New Entrants

4.1.2 Bargaining power of buyers

4.1.3 Threat of substitutes

4.1.4 Segment rivalry

4.2 Value Chain/Supply Chain of Global Castor wax Market

5 Industry Overview of Global Castor wax Market

5.1 Introduction

5.2 Growth Drivers

5.3 Impact analysis

5.4 Market Challenges

5.5 Impact analysis

6 Market Trends

6.1 Introduction

6.2 Growth Trends

6.3 Impact analysis

7. Global Castor wax Market by Region

8. Global Castor wax Market by Applications (personal care, healthcare, lubricants, grease, polishing agent, and others)

9. Global Castor wax Market by End Use Industries (cosmetics and personal care industry, paints and coating industry, pharmaceuticals industry, automotive industry, textile industry, leather, paper industry, and others)

10 Company Landscape

11. Company Profiles

11.1 Jayant Agro-Organics limited

11.1.1 Company Overview

11.1.2 Product/Business Segment Overview

11.1.3 Financial Updates

11.1.4 Key Developments

11.2 Gokul Refoils and solvent limited

11.2.1 Company Overview

11.2.2 Product/Business Segment Overview

11.2.3 Financial Updates

11.2.4 Key Developments

11.3 Adya oils and chemicals limited

11.3.1 Company Overview

11.3.2 Product/Business Segment Overview

11.3.3 Financial Updates

11.3.4 Key Developments

11.4 Liaoyang Huaxing chemical group corp.

11.4.1 Company Overview

11.4.2 Product/Business Segment Overview

11.4.3 Financial Updates

11.4.4 Key Developments

11.5 Hokoku corporation

11.5.1 Company Overview

11.5.2 Product/Business Segment Overview

11.5.3 Financial Updates

11.5.4 Key Developments

11.6 BOM Brasil Oleo De Mamona

11.6.1 Company Overview

11.6.2 Product/Business Segment Overview

11.6.3 Financial Updates

11.6.4 Key Developments

11.7 Frank B. Ross Co. Inc.

11.7.1 Company Overview

11.7.2 Product/Business Segment Overview

11.7.3 Financial Updates

11.7.4 Key Developments

12 Conclusion

LIST OF TABLES

Table 1 World Population by Major Regions (2020-2027)

Table 2 Global Castor wax Market: By Region, 2020-2027

Table 3 North America Castor wax Market: By Country, 2020-2027

Table 4 Western Europe Castor wax Market: By Country, 2020-2027

Table 5 Asia-Pacific Castor wax Market: By Country, 2020-2027

Table 7 Middle East & Africa Castor wax Market: By Country, 2020-2027

Table 6 Latin America Castor wax Market: By Country, 2020-2027

Table 8 Global Castor wax by Applications Market: By Regions, 2020-2027

Table 9 North America Castor wax by Applications Market: By Country, 2020-2027

Table 10 Western Europe Castor wax by Applications Market: By Country, 2020-2027

Table 11 Asia-Pacific Castor wax by Applications Market: By Country, 2020-2027

Table 12 Middle East & Africa Castor wax by Applications Market: By Country, 2020-2027

Table 13 Latin America Castor wax by Applications Market: By Country, 2020-2027

Table 14 North America Castor wax for End User Market: By Country, 2020-2027

Table 15 Western Europe Castor wax for End User Market: By Country, 2020-2027

Table 16 Asia-Pacific Castor wax for End User Market: By Country, 2020-2027

Table 17 Middle East & Africa Castor wax for End User Market: By Country, 2020-2027

Table 18 Latin America Castor wax for End User Market: By Country, 2020-2027

Table 19 Global Applications Market: By Region, 2020-2027

Table 20 Global End User Market: By Region, 2020-2027

Table 21 North America Castor wax Market, By Country

Table 22 North America Castor wax Market, By Applications

Table 23 North America Castor wax Market, By End User

Table 24 Western Europe : Castor wax Market, By Country

Table 25 Western Europe : Castor wax Market, By Applications

Table 26 Western Europe : Castor wax Market, By End User

Table 27 Asia-Pacific: Castor wax Market, By Country

Table 28 Asia-Pacific: Castor wax Market, By Applications

Table 29 Asia-Pacific: Castor wax Market, By End User

Table 30 Middle East & Africa: Castor wax Market, By Country

Table 31 Middle East & Africa Castor wax Market, By Applications

Table 32 Middle East & Africa: Castor wax Market, By End User

Table 33 Latin America: Castor wax Market, By Country

Table 34 Latin America Castor wax Market, By Applications

Table 35 Latin America: Castor wax Market, By End User



LIST OF FIGURES

FIGURE 1 Global Castor wax Market segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Five Forces Analysis of Global Castor Wax Market

FIGURE 4 Value Chain of Global Castor Wax Market

FIGURE 5 Share of Global Castor Wax Market in 2020, by country (in %)

FIGURE 6 Global Castor Wax Market, 2020-2027, (USD billion)

FIGURE 7 Sub-segments of End Users

FIGURE 8 Global Castor Wax Market size by End User, 2020

FIGURE 9 Share of Global Castor Wax Market by End User, 2020-2027

FIGURE 10 Global Castor Wax Market size by Applications, 2020

FIGURE 11 Share of Global Castor Wax Market by Applications, 2020-2027

Castor Wax Market Speak to Analyst Request a Free Sample

Castor Wax Market Overview 


The global Castor Wax Market is anticipated to register significant growth during the forecast period of 2030. Further, the global market is estimated to generate a CAGR of 5.55% between the forecast period of 2022 and 2030.

The waxes are known to be organic compounds, which are malleable solids and hydrophobic at ambient temperature. These waxes are a combination of lipids and higher alkanes. Castor wax (CAS No.: 8001-78-3) is basically known as vegetable wax that is produced through the pure castor oil’s hydrogenation in the presence of a metal catalyst. This wax is also called the hydrogenated castor oil in different parts of the world, which is basically the combination of hard, odorless, brittle and white-colored substances. The castor wax is available in different forms of flakes, which are used for different industrial purposes. Many researchers have stated that the castor wax can be melted at the point nearly 80 -850C. 


The castor wax is applicable for various ranges like industrial molds making and personal care. These waxes are widely used in the cosmetics industry, which are used as thickening agents in creams and lotions. It is widely preferable in the paints industry as well as in the cosmetics & the personal care industry because of its major characteristic features such as dispersing agent, plasticizer, and emulsifier. The castor wax is basically found as a major constituent in soaps, body lotions, gels, hair creams, lip balms, eyeliners and other makeup kits. Moreover, castor wax is applicable for various industrial usages like a lubricant, heat-sealing adhesives, grease, and polished coating. There are some other applications of castor was that include stick products, wax paper, wood polishing, waterproofing of leather & fabrics, paints & coatings, deodorants, coating paper, and automotive polishing. Further, it has been found that the castor wax is compatible with synthetic resins as well as with most vegetable, animal and mineral waxes due to the availability of the wide application in different sectors. 


According to the Castor Wax Market Forecastreport, the current market growth is based on the large contribution of the intended audiences, including traders and distributors of castor wax, castor wax manufacturers, international forums, research & development institutes, and castor oil suppliers.


COVID-19 Analysis 


The arrival of the covid-19 pandemic has brought major crises among various industries. At this time, many advantages and disadvantages have been witnessed in terms of the market and finance growth. The Castor Wax Market Size has been affected due to the disruption in the supply chain and manufacturing chain. 


Though a major economic plunge has been evident in the market, the market players have adopted some new development skills, business approaches, and strategies to enhance the market growth.


Chief Factors Existing In the Market 



Key Market Drivers

The global Castor Wax Market is expected to grow in the further coming years because of the present scenario of eco-friendliness across the globe and green chemistry. Moreover, the demand for caster wax and vegetable wax is growing in the forecast period due to the introduction of policies to lower the carbon footprint with corporate aspirations and government.

In addition, the global Castor Wax Market 
is fueling due to the strict regulatory measures against the increasing usage of synthetic or inorganic waxes in food and cosmetics coverings by the worldwide authorities of food & drugs regulatory. Thus, the favoring changes in policies with the momentum in end-use industries like pharmaceuticals, automotive, cosmetics & personal care, paints & coatings are helping the global market to boost up in the forecast period. 

Market Challenges

The global Castor Wax Market might experience challenges due to the decline of prices of castor seeds because of the rising production by Jamaica, China, India, and other tropical countries.

Another major challenge can be the heavy dependence on India for the supplies of castor oil that can raise the monopoly on the global market. In addition, inadequate research and development efforts are affecting the growth of the global Castor Wax industry. 

Market Opportunities

The global Castor Wax Market has lucrative growth opportunities as in many utilities; synthetic waxes are not an option like pharmaceuticals, thin food coating, health, etc.

Moreover, the rising application of castor wax in various industries is bringing significant opportunities for the manufacturers and the key players. 

Market Restraints

The global Castor Wax Market might face restraints due to the crude oil prices. Moreover, less awareness about the use of castor can hamper the growth of the worldwide market.

However, the lack of expertise and insufficient intelligence in the end-use industries can hinder the Castor Wax Market Growth in the forecast period. 

Cumulative Evaluation Of The Market 


In the recent past few years, castor wax demand has been witnessed an upward trend. 


Moreover, the awareness is increasing among the people about the use of castor wax, which is expanding the demand for the castor wax as well as the demand for the Castor Wax Market in the further coming years.  


Market Segmentation 


According to the Castor Wax Market Trends report, the current market has been segmented based on the end-users industries and applications. 



By end-use industry:

In terms of end-use industry segment, the global Castor Wax Market has been segmented into the automotive industry, cosmetics and personal care industry, paper industry, pharmaceuticals industry, paints and coatings industry, leather industry, textile industry, and others.

Of these, the pharmaceuticals industries and cosmetics and personal industry are projected to dominate the global Castor Wax Market in the research period. 

By Application

On the basis of application segment, the worldwide Castor Wax Market has been classified into the polishing agent, healthcare, grease, personal care, lubricant, and others.

Among these, lubricants and personal care is registered to acquire the largest Castor Wax Market Share during the analysis period. 

Global Castor Wax Market, by Region 2016 (%)


 Global Castor Wax Market, by Region 2016 (%)


Regional Analysis 


Geographically, the global Castor Wax Market has been segregated into various locations such as Europe, Asia Pacific, North America, Latin America, and others.


Among all, the Asia Pacific is considered to be the dominating producer and consumer of castor wax across the globe. This region is projected to hold more than 50% of the largest market share in 2016. Further, this regional market is anticipated to maintain growth and dominate the worldwide Castor Wax Market in the forecast period. This region is expanding due to the large installed capacity of production for castor oil and wax across China and India. Moreover, the overall demand for castor wax is growing with the rising demand for castor wax for manufacturing lubricants and grease on a large scale, which is fueling the Asia pacific regional market. 


Apart from this, the Western Europe regional market for castor wax is known as the second leading market in generating the largest market share. In this region, countries like the UK are contributing effectively due to the rising demand for castor wax among the end-use industries like pharmaceuticals, cosmetics and personal care, and others. 


Competitive Intensity within the Industry 


As per the Castor Wax Market Outlook report, significant competition is occurring among the key players to show their existence in the global market. These key players include: 



  • GokulRefoils and solvent Limited (India)

  • Hokoku Corporation (China),

  • Jayant Agro-Organics Limited (India)

  • Liaoyang Huaxing Chemical group corp. (China)

  • Adya oils and chemicals limited (India)

  • Frank B. Ross Co. Inc. (US)

  • Novel (Brazil)

  • BOM Brasil Oleo De Mamona Ltda. (Brazil)


The market players of Castor Wax Market are adopting new ideas and strategies to propel the global Castor Wax industry. They are doing mergers and acquisitions, new product launches, and partnerships to enhance the current performance of the global market. Additionally, these players are investing in the activities like research and development, which is helping the worldwide market to grow. 


Recent Market Developments 



  • Recently, prominent market players like Jayant Agro-Organics Limited (India) and Frank B. Ross Co. Inc. (US) have given the focus on the development of the new product, which is predicted to bring more scope to the Castor Wax Market in the forecast period. 


Report Overview 


According to the Castor Wax Market Analysis, this report has included a market overview, market segmentation, market overview, regional classifications, competitive analysis, recent development and covid-19 analysis.


The current market is showing significant growth by generating Castor Wax Market Value with the support of the major market players of the industry.


Key Industrial Segments 


By Application



  • polishing agent, 

  • healthcare, 

  • grease, 

  • personal care, 

  • lubricant, 

  • other


By end-use industry:



  • automotive industry, 

  • cosmetics and personal care industry, 

  • paper industry, 

  • pharmaceuticals industry, 

  • paints and coatings industry, 

  • leather industry, 

  • textile industry, 

  • others



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: Significant Value
  CAGR   5.55%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019-2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, CompetitiveLandscape, Growth Factors, and Trends
  Segments Covered   applications and end use industries
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Jayant Agro-Organics limited (India), Gokul Refoils and solvent limited (India), Adya oils and chemicals limited (India), Liaoyang Huaxing Chemical group corp. (China), Hokoku Corporation (China), BOM Brasil Oleo De Mamona Ltda. (Brazil), Enovel (Brazil), and Frank B. Ross Co. Inc. (US)
  Key Market Opportunities   Owing to the availability of various sectors where castor wax finds its applications
  Key Market Drivers   The present scenario of green chemistry and eco-friendliness around the world


Speak to Analyst Ask for Customization

Frequently Asked Questions (FAQ) :

Castor Wax Market is predicted to grow at Substantial CAGR 5.55% forecast period of 2020-2030

The forecast period for Castor Wax Market research report is 2020-2027.

Castor Wax Market is dominated by APAC region.

Green chemistry and eco-friendliness around the world

Jayant Agro-Organics limited (India), Gokul Refoils and solvent limited (India), Adya oils and chemicals limited (India), Liaoyang Huaxing Chemical group corp. (China), Hokoku Corporation (China), BOM Brasil Oleo De Mamona Ltda. (Brazil), Enovel (Brazil), and Frank B. Ross Co. Inc. (US)