Global Cashew Nut Shell Oil Market Witnesses Significant Growth Amid Rising Industrial Demand https://dataintelo.com/report/global-cashew-nut-shell-oil-market The Cashew Nut Shell Oil Market is expanding steadily, driven by increasing industrial applications and growing awareness of its unique properties. Cashew nut shell oil (CNSO), derived from the shell of cashew nuts, is gaining traction across various sectors including automotive, lubricants, coatings, and pharmaceuticals. The market's evolution is fueled by sustainable resource utilization and rising demand for bio-based chemicals globally. In 2023, the global Cashew Nut Shell Oil Market was valued at approximately USD 320 million and is projected to grow at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2030. This upward trend is largely attributable to the oil's biodegradability, chemical stability, and industrial versatility, making it a preferred alternative to synthetic oils.