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Cashew Nut Shell Oil Market Size, Industry Analysis Report, By Type (Natural Cashew Nut Shell, Technical Cashew Nut Shell), By Application (Paints and Varnishes, Laminating Resins, Rubber Compounding Resins, Cashew Cements, Polyurethane Based Polymers, Surfactants, Epoxy Resins, Foundry Chemic), By Industry (Coating, Automotive, Fuel, Leather, Tobacco Curing) Region – Forecasts

  • PUBLISHED ON
  • 2024-01-08
  • NO OF PAGES
  • 274
  • CATEGORY
  • Food & Beverages

Global Cashew Nut Shell Oil Market Analysis by Type, Application, Industry, and Region and segments forecast till 2033

 

Market Overview

The cashew nut shell oil market was worth USD 309.72 million in 2021 and is anticipated to reach a valuation of USD 289.74 million by 2030, expanding at a CAGR of 7.50% over the forecast duration.

 

Report Scope

Report Attributes

Description

Market Size in 2022

USD 309.72 Million

Market Forecast in 2033

USD 289.74 Million

CAGR % 2023-2033

7.50%

Base Year

2022

Historic Data

2020-2021

Forecast Period

2023-2033

Report USP

Production, Consumption, company share, company heatmap, company production capacity, growth factors and more

Segments Covered

Type, Application, Industry

Regional Scope

North America, Europe, APAC, South America and Middle East and Africa

Country Scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria

Key Companies

CEAT, Continental, Cooper, Dunlop, Goodyear, Hankook, JK Tyre, Kumho Tire, Michelin North America Inc., Pirelli, Sumitomo, Tire Rack, TireConnect, Tire-Easy, Triangle Tires, Tyre World Kenilworth LTD, Tyremarket.com, Tyresnmore, Tyrewaale, Yokohama, and Others.

 

Cashew nut shell oil/liquid (CSNL) is a dark brown liquid present inside the soft honeycomb structure of a cashew nut. It is regarded as one of the most important by-products of the cashew industry and is widely used in surface coatings, paints & varnishes, and polymer production. There are various methods used for cashew nut shell oil extraction including hot oil process, mechanical extraction, solvent extraction, supercritical fluids process, and vacuum distillation.

Rising use of cashew nut shell oil as an alternative to unsaturated phenols and escalating demand from the end user industries are augmenting the industry outlook. Moreover, growing efforts of industry players to make innovative products using CSNL and technological advancements in the field are adding momentum to the market progression. However, lack of awareness regarding the benefits of CSNL is likely to hinder the development of this market sphere in the ensuing years.

Also, the recent COVID-19 pandemic outbreak had a major impact on the industry owing to the supply chain disruptions caused by stringent restrictions. Moreover, the indefinite lockdowns resulting in the temporary closure of manufacturing units delayed the production of CSNL products, thereby adversely affecting the market growth.

There has been an escalating demand for CSNL from coatings & paints industry owing to its anti-microbial, rust proof, and acid resistant nature. Moreover, cashew nut shell oil based surface coatings tend to possess excellent surface finish and gloss with high levels of elasticity and toughness. These oils are also cost effective and environment friendly which in turn is accelerating their demand across various end-use industries. Cashew nut shell oil is predominantly used to make adhesives that are suitable for plywood. These type of adhesives are produced by oxidizing CSNL with manganese dioxide. The CSNL induced adhesives are cost effective, highly efficient, and eco-friendly in nature.

 

Type Insights

The natural cashew nut shell segment is anticipated to garner substantial returns over the assessment timeframe owing to the easy availability and eco-friendly nature cashew nut shells.

 

Application Insights

The paints and varnishes segment is poised to register notable gains over the forecast period ascribing to the anti-microbial, rust proof, and acid resistant properties of CSNL based paints.

 

Industry Insights

The coating segment is expected to expand significantly over the stipulated timeline attributing to the excellent properties of CSNL based coatings including glossiness, high elasticity, and toughness.

 

Regional Insights

In terms of the geographical ambit, North America, Europe, Asia Pacific, Middle East & Africa, and South America are the major benefactors to the development of this business sphere. The CSNL market in North America is anticipated to showcase lucrative growth trends over 2022-2030. This is credited to the fact that North American cashews contain less selenium as compared to cashews grown in tropical regions.

 

Competitive Analysis

The prominent companies influencing the trends of worldwide cashew nut shell oil industry are Cashew Chem India, Orbitta Exports, Sun Cashew Company, Paranjape Agro Products (India) Private Limited, Pratipa Cashews, Peekay Agencies Pvt. Ltd., R.K. Agro Solutions, Caskyd Industries, Sri Devi Group, Shivam Cashew Industry, K Subraya Anantha Kamath and Sons, Senesel, Kimmy Farm, Vavimex Company Limited, and Cat Loi Cashew Oil Production & Export Joint Stock Company.

The aforementioned companies are adopting efficient strategies to develop sensible business models so as to enhance their product portfolio. They are making informed decisions involving mergers & acquisitions, collaborations, partnerships, and research & development investments to generate sustained growth in the forthcoming years.

 

Global Cashew Nut Shell Oil Market- Segmental Analysis

By Type

Natural Cashew Nut Shell

•Technical Cashew Nut Shell

 

 

By Application

Paints and Varnishes

•Laminating Resins

•Rubber Compounding Resins

•Cashew Cements

•Polyurethane Based Polymers

•Surfactants

•Epoxy Resins

•Foundry Chemic

•Others

 

 

By Industry

Coating

•Automotive

•Fuel

•Leather

•Tobacco Curing

•Others

 

 

Why to buy this Report?

The report provides quantitative and qualitative aspect for Cashew Nut Shell Oil Market in terms of value and volume, along with supporting market trends, challenges, restraints.

The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.

The report provides competitive analysis of around 30-50 companies operated in Cashew Nut Shell Oil Market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:

             Business Model

             Production Capacity, Revenue, Sales, Gross Margin

             Key Business Strategy

             SWOT Analysis

In terms of competitive landscape, the report provides distinctive factors that would help the end user in taking a key decision within the business:

             Company Share Analysis from 2020-2022

             Company Analysis by Revenue and Sales

             Company Production Capacity, Gross Margin

             Company Share Analysis by Application/End Use

             Company Share Analysis by Product/Specification

1.Global Cashew Nut Shell Oil Market Introduction and Market Overview

1.1.Objective of the Market Research Study

1.2.Cashew Nut Shell Oil Market Definition & Description

1.3.Research Data Parameters & Reporting Timelines

1.3.1.Historical Data Reporting Years – 2020 to 2021

1.3.2.Projected Data Reporting Years – 2022 to 2033

1.3.3.Reporting Data Parameters – Value (US$ Million)

1.4.Global Cashew Nut Shell Oil Market Scope and Market Estimation

1.4.1.Global Cashew Nut Shell Oil Overall Market Size & Volume (US$ Million & Tons), Market CAGR (%), Market Estimates & Forecast (2020 to 2033)

1.4.2.Global Cashew Nut Shell Oil Market Revenue & Volume Share (%) and Growth Rate (Y-o-Y) from 2020 to 2033

1.5.Cashew Nut Shell Oil Market Segmentation

1.5.1.Type of Global Cashew Nut Shell Oil Market

1.5.2.Application of Global Cashew Nut Shell Oil Market

1.5.3.Industry of Global Cashew Nut Shell Oil Market

1.5.4.Key Regions of Global Cashew Nut Shell Oil Market

 

2.Global Cashew Nut Shell Oil Market - Executive Summary

2.1.Global Cashew Nut Shell Oil Market – Summary & Snapshot

2.2.Global Cashew Nut Shell Oil Market, By Type (US$ Million & Tons)

2.3.Global Cashew Nut Shell Oil Market, By Application (US$ Million & Tons)

2.4.Global Cashew Nut Shell Oil Market, By Industry (US$ Million & Tons)

2.5.Global Cashew Nut Shell Oil Market, By Geography (US$ Million & Tons)

2.6.Global Cashew Nut Shell Oil Market Outlook & Future Opportunities

 

3.Cashew Nut Shell Oil Market Trends, Outlook, and Factors Analysis

3.1.Global Cashew Nut Shell Oil Market Industry Development Trends under COVID-19 Outbreak

3.1.1.Global COVID-19 Status Overview

3.1.2.Influence of COVID-19 Outbreak on Global Cashew Nut Shell Oil Market Industry Development

3.1.3.Pre & Post COVID-19 Trends and Scenarios

3.2.Cashew Nut Shell Oil Market Dynamics (Growth Impacting Factors & Rationales)

3.2.1.Drivers

3.2.1.1.Rising utilization of CNSL in the end user industries

3.2.1.2.Increasing preference for CNSL over unsaturated phenols is expected to grow the market

3.2.2.Restraints

3.2.2.1.Volatility in the raw material prices is anticipated to hamper the market growth

3.2.3.Opportunities

3.2.3.1.Rising demand for bio-based and sustainable green products offers immense market expansion opportunities

3.2.4.Impact Analysis of Drivers and Restraints

3.3.Ecosystem/ Value Chain Analysis

3.4.Porter’s Five Forces Analysis

3.5.SWOT Analysis

3.6.PEST Analysis

3.7.Average Selling Prices and Pricing Trends Analysis of Cashew Nut Shell Oil Market

3.8.Technological Roadmap

3.9.Key Investment Pockets of Cashew Nut Shell Oil Market

3.9.1.By Type

3.9.2.By Application

3.9.3.By Industry

3.9.4.By Regions

 

4.Global Cashew Nut Shell Oil Market: Estimates & Historic Trend Analysis (2020 to 2021)

4.1.Global Cashew Nut Shell Oil Market, 2020 – 2021 (US$ Million & Tons)

4.2.Global Cashew Nut Shell Oil Market, By Type, 2020 to 2021 (US$ Million & Tons)

4.3.Global Cashew Nut Shell Oil Market, By Application, 2020 to 2021 (US$ Million & Tons)

4.4.Global Cashew Nut Shell Oil Market, By Industry, 2020 to 2021 (US$ Million & Tons)

4.5.Global Cashew Nut Shell Oil Market, By Region, 2020 to 2021 (US$ Million & Tons)

 

5.Global Cashew Nut Shell Oil Market Estimates & Forecast Trend Analysis, by Type

5.1.Global Cashew Nut Shell Oil Market Share (%) Estimates and Forecasts, by Type, 2022 & 2033

5.2.Global Cashew Nut Shell Oil Market Revenue & Volume (US$ Million & Tons) Estimates and Forecasts, by Type, 2022 to 2033

5.2.1.Natural Cashew Nut Shell

5.2.2.Technical Cashew Nut Shell

 

6.Global Cashew Nut Shell Oil Market Estimates & Forecast Trend Analysis, by Application

6.1.Global Cashew Nut Shell Oil Market Share (%) Estimates and Forecasts, by Application, 2022 & 2033

6.2.Global Cashew Nut Shell Oil Market Revenue & Volume (US$ Million & Tons) Estimates and Forecasts, by Application, 2022 to 2033

6.2.1.Paint & Varnishes

6.2.2.Laminating Resins

6.2.3.Rubber Compounding Resins

6.2.4.Cashew Cements

6.2.5.Polyurethane Based Polymers

6.2.6.Surfactants

6.2.7.Epoxy Resins

6.2.8.Foundry Chemic

6.2.9.Others

 

7.Global Cashew Nut Shell Oil Market Estimates & Forecast Trend Analysis, by Industry

7.1.Global Cashew Nut Shell Oil Market Share (%) Estimates and Forecasts, by Industry, 2022 & 2033

7.2.Global Cashew Nut Shell Oil Market Revenue & Volume (US$ Million & Tons) Estimates and Forecasts, by Industry, 2022 to 2033

7.2.1.Coating

7.2.2.Automotive

7.2.3.Fuel

7.2.4.Leather

7.2.5.Tobacco Curing

7.2.6.Others

 

8.Global Cashew Nut Shell Oil Market Analysis and Forecast, by Region

8.1.Global Cashew Nut Shell Oil Market Share (%) Estimates and Forecasts, by Region, 2022 & 2033

8.2.Global Cashew Nut Shell Oil Market Revenue & Volume (US$ Million & Tons) Estimates and Forecasts, by Region, 2022 to 2033

8.2.1.North America

8.2.2.Europe

8.2.3.Asia Pacific

8.2.4.Middle East and Africa

8.2.5.Latin America

 

9.North America Cashew Nut Shell Oil Market: Estimates & Forecast Trend Analysis

9.1.North America Cashew Nut Shell Oil Market Assessments & Key Findings

9.2.North America Cashew Nut Shell Oil Market Share (%) Estimates and Forecasts, 2022 & 2033

9.3.North America Cashew Nut Shell Oil Market Size & Volume Estimates and Forecast (US$ Million & Tons) (2022 to 2033)

9.3.1.By Type

9.3.2.By Application

9.3.3.By Industry

9.3.4.By Major Country

9.3.4.1.The U.S.

9.3.4.2.Canada

 

10.Europe Cashew Nut Shell Oil Market: Estimates & Forecast Trend Analysis

10.1.Europe Cashew Nut Shell Oil Market Assessments & Key Findings

10.2.Europe Cashew Nut Shell Oil Market Share (%) Estimates and Forecasts, 2022 & 2033

10.3.Europe Cashew Nut Shell Oil Market Size & Volume Estimates and Forecast (US$ Million & Tons) (2022 to 2033)

10.3.1.By Type

10.3.2.By Application

10.3.3.By Industry

10.3.4.By Major Country

10.3.4.1.Germany

10.3.4.2.The U.K.

10.3.4.3.France

10.3.4.4.Italy

10.3.4.5.Spain

10.3.4.6.Rest of Europe (includes all other European countries)

 

11.Asia Pacific Cashew Nut Shell Oil Market: Estimates & Forecast Trend Analysis

11.1.Asia Pacific Cashew Nut Shell Oil Market Assessments & Key Findings

11.2.Asia Pacific Cashew Nut Shell Oil Market Share (%) Estimates and Forecasts, 2022 & 2033

11.3.Asia Pacific Cashew Nut Shell Oil Market Size & Volume Estimates and Forecast (US$ Million & Tons) (2022 to 2033)

11.3.1.By Type

11.3.2.By Application

11.3.3.By Industry

11.3.4.By Major Country

11.3.4.1.China

11.3.4.2.Japan

11.3.4.3.India

11.3.4.4.ASEAN

11.3.4.5.South Korea

11.3.4.6.Rest of Asia Pacific (includes all other Asia Pacific countries)

 

12.Middle East & Africa Cashew Nut Shell Oil Market: Estimates & Forecast Trend Analysis

12.1.Middle East & Africa Cashew Nut Shell Oil Market Assessments & Key Findings

12.2.Middle East & Africa Cashew Nut Shell Oil Market Share (%) Estimates and Forecasts, 2022 & 2033

12.3.Middle East & Africa Cashew Nut Shell Oil Market Size & Volume Estimates and Forecast (US$ Million & Tons) (2022 to 2033)

12.3.1.By Type

12.3.2.By Application

12.3.3.By Industry

12.3.4.By Major Country

12.3.4.1.GCC

12.3.4.2.South Africa

12.3.4.3.Egypt

12.3.4.4.Rest of Middle East & Africa (includes all other Middle East & Africa countries)

 

13.Latin America Cashew Nut Shell Oil Market: Estimates & Forecast Trend Analysis

13.1.Latin America Market Assessments & Key Findings

13.2.Latin America Cashew Nut Shell Oil Market Share (%) Estimates and Forecasts, 2022 & 2033

13.3.Latin America Cashew Nut Shell Oil Market Size & Volume Estimates and Forecast (US$ Million & Tons) (2022 to 2033)

13.3.1.By Type

13.3.2.By Application

13.3.3.By Industry

13.3.4.By Major Country

13.3.4.1.Brazil

13.3.4.2.Mexico

13.3.4.3.Rest of Latin America (includes all other Latin America countries)

 

14.Competitive Landscape

14.1.Cashew Nut Shell Oil Market Revenue Share Analysis (%), by Major Players (2021)

14.2.Cashew Nut Shell Oil Market Competition Matrix, by Leading Players

14.3.Cashew Nut Shell Oil List of Emerging, Prominent and Leading Players

14.4.Major Mergers & Acquisitions, Partnership, Joint Venture, Expansions, Deals, Recent Developments, etc.

 

15.Company Profiles

15.1.CASHEW CHEM INDIA

15.1.1.Company Overview & Insights

15.1.2.Financial Performance

15.1.3.Product / Service Portfolio

15.1.4.Geographical Footprint & Share

15.1.5.Strategic Initiatives & Key Developments

 

*Similar details would be provided for all the players mentioned below

15.2.Orbitta Exports

15.3.Sun Cashew Company

15.4.Paranjape Agro Products (India) Private Limited

15.5.PRATIPA CASHEWS

15.6.PEEKAY AGENCIES PVT. LTD

15.7.R.K.Agro solutions

15.8.Caskyd Industries

15.9.Sri Devi Group

15.10.Shivam Cashew Industry

15.11.K Subraya Anantha Kamath and Sons

15.12.Senesel

15.13.Kimmy Farm

15.14.VAVIMEX COMPANY LIMITED

15.15.CAT LOI CASHEW OIL PRODUCTION & EXPORT JOINT STOCK COMPANY

15.16.Others

 

16.Assumptions and Research Methodology

16.1.Data Mining

16.2.Secondary Research

16.3.Primary Research

16.4.Subject Matter Expert Advice

16.5.Quality Check

16.6.Final Review

16.7.Data Triangulation

16.8.Bottom-Up Approach

16.9.Top Down Approach

16.10.Research Flow

16.11.Key Insights from Industry Experts

16.12.Data Sources

16.13.Assumptions

16.14.Limitations

 

17.Conclusions and Recommendations

17.1.Key Research Findings and Conclusion

17.2.Key Insights & Recommendations from Analysts

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Market Research Process




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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

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