Castor Oil: The Green Gold Fueling Next-Gen Bio-Based Industries
The global castor oil and derivatives market was valued at USD 1.21 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 5.8% from 2022 to 2030. This growth is largely driven by the increasing utilization of castor oil in biodiesel feedstock, as sustainability concerns and the need for alternative energy sources continue to gain momentum. Liquid biofuels, including biodiesel, are increasingly being adopted as alternative fuels for internal combustion engines traditionally reliant on kerosene, diesel, or gasoline. These fuels are also suitable for powering passenger and commercial vehicles, such as airplanes, trucks, and ships. Among the viable feedstocks, castor oil stands out due to its non-edible nature and unique chemical composition, making it a sustainable, bio-based raw material for biodiesel production. Beyond the energy sector, the cos...