Global Ricinoleic Acid Market 2018-2022
About Ricinoleic Acid Market
Ricinoleic Acid, also known as castor oil acid, is a castor oil derivative derived from castor seeds and vegetable oils. Ricinoleic acid is an unsaturated fatty acid that’s is widely used in many industries.
Technavio’s analysts forecast the global ricinoleic acid to grow at a CAGR of 4.52% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global ricinoleic acid for 2018-2022. To calculate the market size, the report considers the revenue generated from the use of ricinoleic acid by different end- users.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Ricinoleic Acid Market 2018-2022
Technavio recognizes the following companies as the key players in the global ricinoleic acid market: acme synthetic chemicals, Gokul Agro Resource, ITOH OIL CHEMICALS, JAYANT AGRO-ORGANICS, Merck, NK Industries.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the increasing demand for cosmetic and personal care products. Ricinoleic acid is used as an emollient and wetting agent in the manufacturing of shampoos, perfumery products and many others. ”
According to the report, one of the major drivers for this market is the fluctuating oil prices. The fluctuation can affect their profit margins due to the supply demand imbalance and this will lead to increase in the price of end- products.
Further, the report states that one of the major factors hindering the growth of this market is the side effects of castor oil. The overdose or laxative properties of castor oil can cause may health issues.
acme synthetic chemicals
Gokul Agro Resource
ITOH OIL CHEMICALS