Hemp Rebar Global Market Report 2024

The hemp rebar market size has grown strongly in recent years. It will grow from $62.65 billion in 2023 to $67.57 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth observed in the historic period can be attributed to the adoption of sustainable construction practices, adherence to environmental regulations and standards, utilization of renewable resources, the recognition of durability and strength properties, and a rising demand for sustainable products in the construction industry. These factors collectively contributed to the increased acceptance and growth of hemp rebar during the historical period.

The hemp rebar market size is expected to see strong growth in the next few years. It will grow to $86.79 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The anticipated growth in the forecast period can be attributed to the increasing adoption of sustainable construction practices, regulatory backing for sustainable building initiatives, heightened awareness within the construction industry, the global expansion of the hemp market, and the influence of demonstration projects and case studies. Major trends expected in the forecast period include collaboration within the construction industry, advancements in hemp processing technologies, innovation in construction materials, a growing consumer preference for natural materials, and the diversification of applications for hemp-based products. These trends are poised to significantly impact the trajectory of hemp rebar in the construction sector.

The growing demand for green buildings is expected to drive the growth of the hemp rebar market. Green buildings, also known as sustainable or high-performance buildings, aim to minimize negative environmental impacts and maximize positive effects on occupants. Hemp rebar, utilized in green buildings, offers a potential alternative to traditional steel rebar with numerous environmental and performance benefits. The growth of hemp sequesters carbon, and the manufacturing process requires less energy, resulting in a smaller overall carbon footprint for the final product. For instance, in October 2022, the U.S. Green Building Council reported an increase in LEED-certified projects in China, reflecting the global trend towards sustainable construction. The rising demand for green buildings is thus propelling the growth of the hemp rebar market.

The hemp rebar market is also expected to benefit from the surge in infrastructure projects. Infrastructure projects involve large-scale construction initiatives essential for the functioning of societies and economies. Hemp rebar provides a cost-effective, non-corroding alternative to steel, making it valuable for such projects. For example, in 2021, the Federal Government spent $40.6 billion directly on transportation in the U.S., excluding federal transfers to states. State and local governments spent $358.1 billion in 2021 on infrastructure projects, reflecting a significant increase from $211.8 billion in 2020. This boost in infrastructure projects is contributing to the growth of the hemp rebar market.

Key players in the hemp rebar market are focusing on innovation, introducing advanced processes such as pultrusion to replace traditional steel rebar. Pultrusion, a continuous manufacturing process, converts fiber reinforcements and resin matrices into finished products with a constant cross-section. For instance, in January 2022, researchers from Rensselaer Polytechnic Institute developed hemp rebar through a pultrusion process. This alternative to steel rebar is designed to be as strong as steel, providing a non-corroding, eco-friendly option for construction projects, potentially reducing greenhouse gas emissions. The adoption of innovative processes is driving advancements in the hemp rebar market.

Major companies operating in the hemp rebar market report are Sunstrand Corporation, Arm Composites Ltd., Lime Technology Ltd., Hemp Traders, HempWood, Hemp Fortex Industries Ltd, All American Hemp Company, HempFlax Group B.V., Bastcore, Dunagro, Hempitecture, IsoHemp, Hemp Technologies Global, Vital Hemp, Hemp Direct, Hemp Plastic Company, Just Bio Fiber, American Hemp LLC, Hemp Angel Products, UK Hempcrete.

North America was the largest region in the hemp rebar market in 2023. The regions covered in the hemp rebar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the hemp rebar market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The hemp rebar market consists of sales of functionalized hemp rebar, bio-composite rebar, textile-based rebar, nano-reinforcement and high-pressure densification. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

Hemp rebar is a construction material crafted from processed hemp fibers, serving as a reinforcing element in concrete structures. It is engineered to deliver strength and durability similar to traditional steel rebar. Additionally, hemp rebar boasts advantages such as being non-corrosive and has the potential to contribute to reduced greenhouse gas emissions.

The primary types of hemp rebar include processed hemp fiber and raw hemp fiber. Processed hemp fiber is a natural fiber extracted from the stalk of the hemp plant. It is obtained through the separation of the outer bark from the inner woody core of the hemp plant. Processed hemp fibers are manufactured in various bar sizes, such as 0.25 Inch x 4 Feet, 0.375 Inch x 4 Feet, 0.5 Inch x 4 Feet, and 0.625 Inch x 4 Feet, and find applications in construction, automotive, and aerospace industries.

The hemp rebar market research report is one of a series of new reports that provides hemp rebar market statistics, including hemp rebar industry global market size, regional shares, competitors with a hemp rebar market share, detailed hemp rebar market segments, market trends and opportunities, and any further data you may need to thrive in the hemp rebar industry. This hemp rebar market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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