USD 62.10 Billion
Global Hemp Rebars Market Size, Share, Growth Analysis, By Type(Processed Hemp Fiber, and Raw Hemp Fiber), By Application(Construction, and Automotive and Aerospace) - Industry Forecast 2024-2031
Report ID:
SQMIG15F2034 |
Region:
Global |
Published Date: April, 2024
Pages:
184
|
Tables:
61 |
Figures:
75
Global Hemp Rebars Market Insights
Global Hemp Rebars Market size was valued at USD 62.10 Billion in 2022 and is poised to grow from USD 66.63 Billion in 2023 to USD 117.08 Billion by 2031, at a CAGR of 7.30% during the forecast period (2024-2031).
Global hemp rebars market growth is driven by the increasing availability of raw materials, the development of new processing techniques, and the growing number of partnerships and collaborations between manufacturers and construction companies.
The most significant factor driving market growth is the increasing demand for sustainable construction materials. As awareness about the negative environmental impact of traditional construction materials such as steel grows, more builders and construction companies are turning to eco-friendly alternatives such as hemp rebars. Additionally, the growing trend towards green construction practices is driving demand for sustainable building materials such as hemp rebars. These rebars are lightweight, easy to install, and do not require any special tools or equipment, making them a popular choice among builders.
Furthermore, the increasing focus on reducing carbon emissions in the construction industry is expected to boost the demand for hemp rebars in the coming years. Hemp rebars are carbon negative, meaning they absorb more carbon than they emit, making them an attractive option for builders looking to reduce their carbon footprint.
US Hemp Rebars Market is poised to grow at sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Processed Hemp Fiber
Fastest Growth
Processed Hemp Fiber
Growth Rate
7.30% CAGR
Global Hemp Rebars Market 2021-2030 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Hemp Rebars Market Size By Type 2021-2030 ($ Bn)
Global Hemp Rebars Market Size By Type 2021-2030 (%)
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Global Hemp Rebars Market Segmental Analysis
Global Hemp Rebars market is segmented by type, application, and region. Based on type, the market can be segmented into processed hemp fiber, and raw hemp fiber. Based on application, the market is segmented into construction, and automotive and aerospace. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Global Hemp Rebars Market Analysis by Type
By type, the market can be segmented into processed hemp fiber and raw hemp fiber. The processed hemp fiber segment is expected to dominate the global hemp rebars market due to the increasing demand for processed hemp fiber-based materials in construction applications. Processed hemp fiber-based materials offer several advantages over traditional materials, such as being lightweight, corrosion-resistant, and biodegradable.
The raw hemp fiber segment is expected to witness the fastest growth during the forecast period, driven by the increasing adoption of sustainable construction practices and the growing demand for eco-friendly building materials.
Global Hemp Rebars Market Analysis by Application
By application, the market can be segmented into construction, and automotive and aerospace. The construction segment is expected to dominate the global hemp rebars market due to the increasing adoption of sustainable construction practices and the growing demand for eco-friendly building materials. Hemp rebars are being used as a sustainable and eco-friendly alternative to traditional steel reinforcement bars in various construction applications such as bridges, tunnels, and buildings.
The automotive and aerospace segments are expected to witness moderate growth during the forecast period. Hemp fibers are being increasingly used in the manufacturing of interior panels, door trims, and other parts of vehicles due to their lightweight and high-strength properties. In the aerospace industry, hemp fibers are being used to manufacture composite materials that can reduce the weight of aircraft and improve fuel efficiency.
Global Hemp Rebars Market Size By Type, 2021 (%), 2023 (%)
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Global Hemp Rebars Market Regional Insights
North America dominates the market due to the increasing awareness about sustainable construction practices and the growing demand for eco-friendly building materials. The construction industry in North America is a major consumer of hemp-based products and is driving the demand for hemp rebars in the region. The U.S. and Canada are the major markets for hemp rebars in North America due to the high demand for sustainable construction materials in these countries.
Asia Pacific is expected to witness the highest growth rate in the hemp rebars market during the forecast period. The region is witnessing significant growth in the construction industry, driven by the rapid urbanization and increasing investments in infrastructure development. Countries such as China and India are expected to be the major markets for hemp rebars in the region due to the growing construction activities and increasing focus on sustainability. In addition, the rising awareness about the benefits of hemp-based products and the growing demand for eco-friendly building materials are also contributing to the growth of the hemp rebars market in Asia Pacific.
Global Hemp Rebars Market By Geography, 2021-2030, 2024-2031
- Largest
- Fastest
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Global Hemp Rebars Market Dynamics
Global Hemp Rebars Market Drivers
Increasing demand for sustainable construction materials
- Hemp rebars are also lighter and stronger than steel, making them an ideal choice for construction projects that require high durability and resistance to weather and corrosion. Additionally, hemp rebars have excellent thermal insulation properties, which can help reduce energy consumption in buildings and lower heating and cooling costs.
Furthermore, government regulations and initiatives promoting the use of eco-friendly and sustainable construction materials are also driving the growth of the hemp rebars market. In some regions, there are tax incentives and subsidies for the use of sustainable materials, which can encourage construction companies to use hemp rebars in their projects.
Global Hemp Rebars Market Restraints
High cost of production
- One of the key restraints for the growth of the global hemp rebars market is the high cost of production. Hemp fibers require specialized processing techniques to increase their strength and durability, which increases the production cost of hemp rebars. Additionally, the lack of awareness about hemp-based products among consumers and the limited availability of raw materials in certain regions can also limit the growth of the market. These factors can lead to higher prices for hemp-based products, making them less competitive compared to traditional materials in certain applications.
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Global Hemp Rebars Market Competitive Landscape
The global hemp rebars market is highly fragmented with the presence of several regional and international players. The market is characterized by the presence of numerous small and medium-sized manufacturers who are actively engaged in the production of hemp rebars. These companies are focusing on product innovation and expanding their product offerings to remain competitive in the market. The market is also witnessing collaborations and partnerships between companies to expand their reach and strengthen their market position. The competitive landscape of the market is expected to remain intense in the coming years due to the growing demand for sustainable construction materials.
Top Player’s Company Profiles in Global Hemp Rebars Market
- Bastcore (US)
- Dunagro (Netherlands)
- HempFlax Group B.V. (Netherlands)
- Sunstrand (US)
- ArmComposites (Armenia)
- CaBioPlastic (US)
- Hempitecture (US)
- HempWood (US)
- IsoHemp (Belgium)
- Lime Technology Ltd (UK)
- Hemp Technologies Global (US)
- Vital Hemp (US)
- Hemp Fortex Industries Ltd (China)
- All American Hemp Company (US)
- Hempcrete Direct (US)
- Hemp Plastic Company (US)
- Just Bio Fiber (Canada)
- American Hemp LLC (US)
- Angel Hemp (India)
- Hemp Road Trip (US)
Hemp Rebars Market Recent Developments
- In March 2023, All American Hemp Company, a US-based company, announced plans to expand its production of hemp-based products, including hemp rebars, to meet growing demand.
- In January 2023, HempWood, a US-based company, announced the launch of a new line of hemp-based products, including hemp rebars, for use in the construction industry.
- In August 2022, Arm Composites, an Armenia-based company, announced a partnership with a US-based construction company to develop new hemp-based products, including hemp rebars, for the US market.
- In June 2022, Angel Hemp, an India-based company, announced plans to launch a new line of hemp-based products, including hemp rebars, to cater to the growing demand for sustainable construction materials.
- In April 2022, Hemp Fortex Industries Ltd, a China-based company, announced plans to invest in new production facilities to increase its capacity for hemp-based products, including hemp rebars.
Global Hemp Rebars Key Market Trends
- One of the key market trends in the global hemp rebars market is the growing demand for sustainable and eco-friendly construction materials. Hemp rebars offer a viable alternative to traditional reinforcement materials, such as steel and concrete, due to their lower carbon footprint and biodegradability. This trend is driven by increasing awareness of the environmental impact of construction activities and the need to reduce greenhouse gas emissions. Additionally, government initiatives and regulations promoting sustainable construction practices are expected to further boost the adoption of hemp rebars in the coming years.
Global Hemp Rebars Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global hemp rebars market analysis, the market is experiencing significant growth due to the increasing demand for sustainable and eco-friendly construction materials. The market is segmented based on type, application, and region. Processed hemp fiber and the automotive industry are dominating the market, while raw hemp fiber and the aerospace industry are the fastest growing segments. North America is dominating the global market. The market is highly competitive, with key players including HempFlax, American Hemp LLC, and Hemptopia. Key market trends include the adoption of sustainable construction practices and government initiatives promoting eco-friendly materials.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 62.10 Billion |
| Market size value in 2031 | USD 117.08 Billion |
| Growth Rate | 7.30% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Hemp Rebars Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Hemp Rebars Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Hemp Rebars Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Hemp Rebars Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Hemp Rebars Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Hemp Rebars Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Hemp Rebars Market Report Snapshots
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