Hemp Industries Future
Global biomaterials markets represent over $800B across several sectors. This includes composites, textiles, manufactured fibres, and bioplastics. The increasing use of biomaterials in manufacturing is a growing trend that includes building material applications.
UN estimates indicate that the hemp industry will reach $110B within five years. Estimates show a global increase in fibre demand of 10% year over year.
Biomaterials are already used in multiple industries. The R-2 System produces hemp-based fibre and cellulose products for manufacturers. Our focus is on composite fibre markets and bulk core hurd sales into existing operations.
Industry trends that: 1) incorporate “green” materials, 2) reduce energy requirements, and 3) reduce chemical inputs, are relevant to manufacturing operations.
These trends support the CannaSystems objective of providing green ecological biomaterials for industrial applications.
The cannabis/hemp market will grow rapidly over the next ten years.
The legal and social climate surrounding hemp and cannabis is changing and evolving worldwide. Industrial hemp production is becoming more attractive to the wider farm and agricultural community. AgTech investments for food security, industrial manufacturing and climate change initiatives are increasing annually.
Transforming the current 100,000 acres of hemp crops in Canada into fibre and core materials represents a $1B opportunity. Ramping the industry to a million acres creates a multi-billion dollar market in the coming years.