Press release
Global Market Expansion of Hemp Rebar: 2024 Forecast
Hemp Rebar Market Drivers
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Report Coverage & Details:
• Forecast Period: 2024-2033
• Base Year: 2023
• Market Size In 2024: $67.57 billion
• Revenue Forecast In 2033: $86.79 billion
• CAGR: 6.5%
Global Hemp Rebar Market: Segmentation
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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Hemp Rebar Market Report: Growth Drivers
The growing demand for green buildings is likely to stimulate the growth of the hemp rebar market. A green building, also known as a sustainable or high-performance building, is designed and constructed to minimize its environmental impact while maximizing benefits for its occupants. Hemp rebar serves as a potential alternative to traditional steel rebar in green buildings, offering various environmental and performance benefits. The cultivation of hemp captures carbon, and its manufacturing process requires less energy, resulting in a lower carbon footprint for the final product. For instance, in October 2022, the U.S. Green Building Council, a non-profit organization based in the US, indicated that the number of LEED-certified projects in China rose from 1,077 in 2021 to 1,121 in 2022, with the certified square footage increasing from 152,325,125.75 to 180,347,421.08 during the same period. Consequently, the increasing demand for green buildings is driving the growth of the hemp rebar market.
Key Developments:
Innovative Pultrusion Process Creates Eco-Friendly Alternative To Steel Rebar In Construction
Major companies operating in the hemp rebar market are developing innovative products with advanced processes, such as pultrusion, to replace steel rebar. Pultrusion is a continuous manufacturing process that produces composite parts by converting fiber reinforcements and resin matrices into finished products with a constant cross-section. For instance, in January 2022, a group of researchers from Rensselaer Polytechnic Institute (RPI), a US-based private research university, developed an alternative to steel rebar made from hemp through a pultrusion process. In this process, the fibers are pulled together with thermoplastics into a heated die and melted. The hemp rebar could offer a low-cost, non-corroding alternative to steel and cut construction time while keeping costs low. It is designed to be as strong as steel and is expected to provide a non-corroding, eco-friendly alternative for construction projects, potentially reducing greenhouse gas emissions.
Top Market Leader Included:
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
Hemp Rebar Industry: Regional Landscape
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
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What Does The Global Hemp Rebar Market Report Include?
1.Introduction
• Overview of the Hemp Rebar Market
• Comprehensive Analysis of Hemp Rebar Market
2. Hemp Rebar Market Drivers and Restraints
• Drivers and Restraints For Historic And Forecast Period
3. Hemp Rebar Market Segmentation
• By Drug Class
• By Indication
• By Distribution Channel
4. Competitive Landscape And Company Profiles In The Hemp Rebar Market
• Overview
• Products and Services
• Strategy
5. Hemp Rebar Market Regional And Country Analysis
• By Region
• By Country
6. Market Trends And Opportunities In Hemp Rebar Market
• Technological Advancements
• Emerging Trends
7. Hemp Rebar Market Future Outlook and Potential Analysis
• Growth Strategies
• New Opportunities
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