Hempcrete Market Size, Share, and Industry Analysis, By Application (Residential Building, Commercial Building, and Others), and Regional Forecast, 2024-2032

Hempcrete is widely used in construction for its excellent insulation properties, contributing to energy-efficient homes. It's also gaining popularity as a sustainable and eco-friendly alternative to traditional building materials. Furthermore, hempcrete is used in retrofitting projects to improve the thermal performance of older buildings. Hempcrete is widely used in construction for its excellent insulation properties, reducing heating and cooling costs. It also serves as a sustainable building material that absorbs CO2 as it cures, contributing to a greener environment. Additionally, hempcrete's mold, pest, and fire-resistant qualities make it a safer and more durable choice for construction projects.

Segmentation

Key Insights

The report covers the following key insights:

• Key Emerging Trends – For Major Regions


• Key Developments: Mergers, Acquisitions, and Partnerships


• Latest Technological Advancements


• Insights on Sustainability


• Porters Five Forces Analysis


• Impact of COVID-19 on the Market

Analysis By Application

By application, the market is divided into residential building, commercial building, and others. The residential building segment holds a considerable share of the global hempcrete market. In the residential segment, hempcrete is primarily used for insulation purposes due to its excellent thermal properties, which enhance energy efficiency in homes. Its breathability also contributes to a healthier living environment by regulating humidity and improving indoor air quality. The material's natural resistance to pests and mold reduces the need for chemical treatments, making it a safer choice for home construction. Furthermore, hempcrete's sustainability and carbon sequestering capabilities align with the growing demand for eco-friendly and green building materials in residential construction.

Residential building segments in the hempcrete market are known for promoting sustainable building practices, offering an eco-friendly alternative to traditional construction materials. These segments contribute to thermal mass in hempcrete structures, enhancing insulation and energy efficiency. Additionally, they serve aesthetic purposes, providing unique textures and natural colors that complement hempcrete's environmentally conscious appeal.

• The government of India is considering measures to boost domestic production capabilities of synthetic yarns by offering subsidies and tax incentives to set up advanced manufacturing units, as well as strengthening the sector's overall competitiveness.

The commercial building segment primarily drives the hempcrete market. In the hempcrete market, the commercial segment finds applications in constructing sustainable and energy-efficient office buildings, retail spaces, and eco-friendly hospitality facilities. It's also used in industrial construction to create durable and thermally stable warehouses and manufacturing units. Moreover, hempcrete is gaining popularity in the renovation of historical buildings for its natural insulation properties and breathability, enhancing indoor air quality and preserving structural integrity.

Regional Analysis

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The global market is geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

In 2022, Asia Pacific dominated the hempcrete market with approximately 32% of the share. The hempcrete market in the Asia Pacific region is experiencing significant growth due to a combination of factors. Firstly, increasing awareness about the environmental benefits of hempcrete, such as its low carbon footprint and sustainability, is driving demand. Secondly, government policies and incentives promoting green building materials are further accelerating the adoption of hempcrete. Thirdly, the rapid urbanization and the consequent need for sustainable construction materials are pushing the market forward. Additionally, the region's growing economy and rising living standards are increasing investment in eco-friendly and energy-efficient buildings. Lastly, technological advancements in the processing and application of hempcrete are making it more accessible and cost-effective, bolstering its adoption across Asia Pacific.

Top exporter of building materials in the year 2022,

• China – USD 7.2 billion


• Italy – USD 5.2 billion


• Spain – USD 4.2 billion


• India – USD 1.8 billion

The major hempcrete market consumers by region are China, Japan, and India in Asia Pacific; the U.S.& Canada in North America; Germany and France in Europe; and Saudi Arabia and UAE in the Middle East.

• In 2022, India was the leading country with around 1,944 construction projects.


• The U.S. was the second largest country, with around 1,866 construction projects.

Key Players Covered

The report includes the profiles of key players, such as Schönthaler, HempFlax, La Chanvrière, Sunstrand,  American Hemp, American Lime Technology, Hempcrete Natural Building, Hemp Tech Global, and IsoHemp.

Key Industry Developments

• In December 2021, Elixinol Wellness signed a license agreement with BRITISH CANNABIS to continue distribution in the U.K. BRITISH CANNABIS is a leading manufacturer of hemp-based products in the U.K. The deal follows the company’s recent decision to cease trading in the U.K. and EU markets and move to an indirect route to market by seeking a licensing partner in the U.K.