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Hemp Rebar Market Analysis 2024 - Global Insights, Industry Demand, Growth Trends And Outlook By 2033
Hemp Rebar Market
The Business Research Company presents an extensive market research report on the Hemp Rebar Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
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 in the historic period can be attributed to sustainable construction practices, environmental regulations and standards, renewable resource utilization, durability and strength properties, increasing demand for sustainable products.
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 growth in the forecast period can be attributed to growing sustainable construction practices, regulatory support for sustainable building, rising construction industry awareness, global hemp market expansion, demonstration projects and case studies. Major trends in the forecast period include construction industry collaboration, advancements in hemp processing technologies, innovation in construction material, consumer preference for natural materials, diversification of applications.
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Key Market Players:
Major companies operating in the hemp rebar market report are Sunstrand Corporation, ArmComposites Ltd., Lime Technology Ltd., HempTraders, 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
Market Drivers:
The increasing demand for green buildings is expected to propel the growth of the hemp rebar market. A green building, sustainable building, or high-performance building is designed and constructed to minimize its negative impact on the environment and maximize its positive impact on occupants. Hemp rebar is used in green buildings to offer a potential alternative to traditional steel rebar with numerous environmental and performance advantages. Growing hemp sequesters carbon and the manufacturing process requires less energy, to a smaller overall carbon footprint for the final product. For instance, in October 2022, according to the U.S. Green Building Council, a US-based membership-based non-profit organization, in China, the LEED-certified projects increased from 1,077 in 2021 to 1,121 in 2022, and certified square foot area increased from 152,325,125.75 in 2021 to 180,347,421.08 in 2022. Therefore, the increasing demand for green buildings is driving the growth of the hemp rebar market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/hemp-rebar-global-market-report
The hemp rebar market covered in this report is segmented -
1) By Type: Processed Hemp Fiber, Raw Hemp Fiber
2) By Bar Size: 0.25 Inch x 4 Feet, 0.375 Inch x 4 Feet, 0.5 Inch x 4 Feet, 0.625 Inch x 4 Feet
3) By Application: Construction, Automotive and Aerospace
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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