Ricinoleic Acid Price Trend and Forecast

Ricinoleic Acid Regional Price Overview

Get comprehensive insights into the Ricinoleic Acid market, with a focused analysis of the Ricinoleic Acid price trend across Asia, Europe, North America, Latin America, and the Middle East & Africa.

Ricinoleic Acid Price Trend for the Year 2024

The price of ricinoleic acid in 2024 was closely tied to fluctuations in the cost of its primary feedstock, castor oil. Throughout the year, raw material costs experienced significant variations, primarily due to production and logistical challenges. The year began on a stable note, with prices remaining within a narrow range. However, in the early second quarter, ricinoleic acid prices declined as upstream market costs fell, leading to lower production expenses. This stability was short-lived; by the end of the first half, prices began to rise due to supply chain disruptions and increased demand from various industries.
 

Ricinoleic Acid Price Chart

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The latter half of the year saw even more pronounced price increases. Castor oil prices peaked, creating a direct ripple effect on ricinoleic acid costs. Supply constraints were further exacerbated by unpredictable weather patterns in key castor bean-producing regions, contributing to rising raw material expenses. With these fluctuations, manufacturers had to adjust their strategies accordingly. However, towards the end of the year, ricinoleic acid prices declined due to seasonal slowdowns and reduced demand from downstream sectors. Despite this late-year dip, year-end prices remained higher than mid-year levels.

Analyst Insight

According to Procurement Resource, the ricinoleic acid price curve is expected to move slightly upwards, resembling the trend in the upstream market, well supported by the improvements in the demand from the downstream sector.
 

Ricinoleic Acid Price Trend for the Second Half of 2023

Ricinoleic acid has widespread usage in various industries, such as cosmetics, pharmaceuticals, lubricants, and personal care products, which fuels its market demand.

The versatility of ricinoleic acid as a natural emulsifier, moisturizer, and surfactant further expands its employability in the industries. Additionally, growing consumer preference for organic and natural ingredients further boosts its market prospects. Moreover, ongoing research and development activities aimed at exploring new applications and improving production processes continue to shape the ricinoleic Acid market landscape.

The rise in the awareness of cosmetics and personal care products in the H2 of 2023 marked a positive influence on the prices of ricinoleic acid. However, the market dynamics fumbled slightly with the loss of trading activities due to the prevalence of the Israel-Hamas war and rising impositions by the European countries on Russian imports. Additionally, in Asian countries, the capping of prices of pharmaceutical medicines during the third-fourth quarter limited the growth trajectory of these companies and the price trend of ricinoleic acid.

Analyst Insight

According to Procurement Resource, the price trend of Ricinoleic Acid is estimated to showcase the variations observed in its downstream pharmaceutical and cosmetic industries.

Procurement Resource provides latest prices of Ricinoleic Acid. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.