The global cannabinoids (CBD) oil market is expected to witness remarkable growth in the coming years owing to growing awareness regarding health benefits of the product. CBD oil helps in stress relief, pain management, acne reduction, improved heart health, diabetes prevention, and alleviating cancer symptoms. Growing healthcare spending all over the world is also likely to support market growth in the years to come. Legalization of cannabis-based products and use of marijuana for recreational and medical applications are anticipated to present lucrative growth opportunities for the market.
The U.S. polyolefin market accounted for USD 51.9 million in 2017 and is expected to grow further over the forecast period. The market in U.S. is expected to grow due to high demand lightweight and durable products from automotive, electronics, film and sheet, and construction industries. Major plastic manufacturers across the globe are investing in R&D to meet the increasing demand for innovative plastic products from end-user industries.
The global anti-aging products market size was estimated to be USD 106.35 billion in 2016, driven primarily by the ageing issues such as wrinkles, fine lines, skin tanning, crow’s feet surrounding eyes, greying of hair, balding and hair loss.
The global cellulose acetate market size was estimated at 614.03 kilo tons in 2016 and is expected to grow due to the development in global cigarette production.
The global argan oil market is anticipated to grow at a 19.6% CAGR in terms of volume, over the forecast period (2016-2024). It had a worldwide demand amounting to 3 kilotons (KT) in 2015.
The growing awareness about sustainability in the general populace, the depleting sources of oil and petroleum and the ever increasing demand for PET products has largely escalated the demand for a bio based PET variant
Global activated carbon market is expected to experience considerable growth over the forecast period owing to increasing application in major end-use industries including pharmaceuticals, water treatment, and food & beverages processing.
Fluorochemicals market is categorized into fluorocarbons, fluoropolymers and inorganics. These products are majorly used in refrigeration, aluminum production and industrial coatings. Fluorochemicals are majorly used in HCFC, CFC, and HFC refrigerants in household and industrial applications. Growing refrigerants demand is expected to be major driver for the market over the next six years. Increasing demand for light material in automotive coupled with fuel efficiency by using aluminum in automotive vehicles have increased aluminum production Increased aluminum production is expected to augment inorganic fluorochemicals market growth over the forecast period.
Chromium phosphate has been witnessing strong growth on account of increasing demand for coating materials from major end-use industries. Increasing application scope of chromium phosphate in medical sector is anticipated to drive the market over the next six years. Furthermore, growing medical sector across the world is anticipated to boost the demand for chromium phosphate over the forecast period.