Report: Global Market for Hempcrete an Estimated $570.2M in 2024 

The global market for hempcrete was estimated at $570.2 million last year, according to a Global Market Insights analysis. The report suggests that the market for the building material is expected to grow from $645.2 million this year to $2.24 billion by 2034 – a CAGR of 14.9%. 

Last year, the market value for lime-based binders, the type most often used in hempcrete, totaled $383.7 million, the market value for residential construction reached $338.1 million, the cast-in-place system – which refers to building a wall by pouring a wet mixture of hemp hurds, a lime-based binder, and water directly into a temporary formwork on the job site – totaled $279.7 million, and the market value for walls and structural infill reached $335.3 million, according to the analysis.     

“The global market for hempcrete is determined to grow with high momentum with booming demand for sustainable building materials. As more people are becoming knowledgeable about environmental side effects, constructors and property developers are becoming inclined to low-carbon substitutes.” — Global Market Insights, Hempcrete Market Size   

The report adds that the cast-in-place systems had a larger share of the market with 49%, likely due to their flexibility, ease of use at the construction site, and the possibility of custom-building designs. 

Walls and structural infill, with a 58.8% market share, are the dominant segment in the hempcrete market because of their applications in the sustainable building styles and have superior thermal insulation characteristics.    

The current market share for hempcrete in North America is 34.3%, the report says, noting the region has a well-developed technological base and increased level of utilizing new means of construction.