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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