Hemp Paper Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET  ANALYSIS

Hemp paper is the paper produced from fiber or pulp of the hemp plant. Hemp paper made from hemp fiber tends to be brittle and rough. On the other hand, paper made from hemp pulp are softer. Hemp paper is the sustainable alternative to conventional paper made from wood. This paper consists of high quality, high durability, and utilizes less resources for manufacturing.  Hemp paper is utilized in manufacturing industries for making rolling paper, canvas paper, currency, hygiene products, and other items.

GROWTH DRIVERS AND CHALLENGES

The growing demand for hemp paper in application industries across the globe has aided the hemp paper market growth in the past few years. Hemp is an extremely versatile and fast growing plant, and can be used to make clothing, textiles, plastics, paint, biofuel, food, and paper. Hemp paper is produced in a much similar way to regular paper but uses pulp from hemp plants rather than trees. Hemp is a much most suitable plant to produce paper, as it contains much higher percentages of cellulose. Cellulose is gives plants their structure, and higher a plant's cellulose content, the more suitable it is for paper production as less chemicals are needed to strip it down. Thus, the manufacturing of hemp paper is free from chemical processing. The major use of hemp paper is to create rolling paper. The unique characteristics of hemp such as additional strength and resilience to especially thin papers, makes it ideal to produce rolling papers, which are thin but relatively resistant.  Further, the demand for recycling of paper in industries to meet the sustainable goals is the key parameter for rising demand of hemp paper. Hemp paper can be recycled 7 to 8 times, compared to wood pulp paper which can be recycled only 3 times. The hemp paper market is still at the development phase as wood paper market generating strong challenge in the paper industry. More than 80% of the world paper production is wood based creating huge dominance in the paper industry. Moreover, hemp cultivation is challenging in tropical and subtropical regions compared to those in high latitudes due to high temperature, humidity, and greater pest pressure. Thus, the hindrances in hemp cultivation can challenge the hemp paper market.

REPORT SEGMENTATION AND SCOPE

The "Global Hemp Paper Market Analysis to 2031" is a specialized and in-depth study with a major focus on the global hemp paper market trends and growth opportunities. The report aims to provide an overview of the global hemp paper market with detailed market segmentation by source, application, and geography. The global hemp paper market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of hemp paper worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the hemp paper market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the hemp paper market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative hemp paper market opportunities that would, in turn, aid in identifying the major revenue pockets.

Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global hemp paper market, which helps understand the entire supply chain and various factors affecting the market growth.

SEGMENTAL ANALYSIS

The global hemp paper market is segmented on the basis of type, material, and application. Based on type, the hemp paper market is segmented as, picket fencing, rail and post fencing, vertical board, and others. On the basis of material, the market is classified as, cedarwood, pinewood, redwood and others. The hemp paper market is categorized on the basis of application into, residential, commercial, agricultural, and others.

Based on type, the picket fence type accounted for a significant hemp paper market share which can be attributed to its popularity across the globe and wide availability. The picket type fences are mostly pointed at the top which discourages climbing thereby preventing trespassing. Vertical board segment has been growing in popularity owing to its ease of installation and availability in various designs. Moreover, they provide additional privacy as compared to other hemp paper styles that have gaps or spaces between two adjacent posts. Based on material, cedarwood accounted for a major hemp paper market share owing to various factors such as durability, low cost and the ability to complement different construction styles. Redwood has also been gaining immense popularity across the globe which can be attributed to the durability and visual appeal. It is also resistant to insects and rots. The demand for hemp paper in the residential segment is expected to grow significantly over the coming years owing to various factors such as increasing urbanization, rising migration activities and growing influence of nuclear households. This has increased the demand for residential construction, thereby propelling the adoption of hemp paper.

REGIONAL ANALYSIS

The report provides a detailed overview of the global hemp paper market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. North America is estimated to account for a significant hemp paper market share globally. Increasing preference of hemp paper among the population along with the growing demand for independent houses have positively contributed to the market growth in North America. Europe is also expected to witness considerable growth with the increasing influx of foreigners moving to Europe. This has increased the purchase of houses, thereby aiding the market growth. House prices in Europe witnessed a decline in the last quarter of 2022 as compared to the third quarter. Asia Pacific is also expected to be an attractive market for hemp paper during the forecast period, owing to the growing preference of wood in the construction industry and among the population.

INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES

Partnership, acquisitions and new product launches were found to be the major strategies adopted by the players operating in the global hemp paper market.

In July, 2022, Oldcastle APG acquired Barrette Outdoor Living, a fencing, railing and related product manufacturer in North America. Oldcastle APG aimed to strengthen its position in building products for the outdoor living portfolio.

In February, 2021, ITOCHU Corporation acquired Reichert Shake & Fencing Inc, the US-based wooden fence manufacturer, thereby enhancing the product portfolio and value chain.

IMPACT OF COVID/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION

The covid-19 pandemic led to a decline in the progress of many industries across the globe. Shutdown of manufacturing plants and restricted trade across the globe led to supply chain constraints for the manufacturers across the globe. Wood fencing market experienced a slump during the pandemic owing to the limited trade of wood products across the globe. Many wood products used for hemp paper are imported from countries across the globe and this led to a limited availability of products. Moreover, construction activities also witnessed a decline during this period owing to the shortage of raw materials and limited supply of labor. However, in countries such as the US, many manufacturers and distributors started offering different species of hemp paper that were locally sourced and not traditional used for hemp paper in the country. This helped provided multiple options to the customers in different price points as they were not reliant on imports for the material. The customers also showed an interest in purchasing new strains of wood for hemp paper which helped mitigate the impacts of the pandemic on the hemp paper market. Therefore, the hemp paper market has recovered quite well from the aftermath of the pandemic and is expected to grow over the coming years.

COMPETITIVE LANDSCAPE AND KEY COMPANIES

Some of the key players operating in the hemp paper market include, FENZI SpA, Ferro Corporation, NIPSEA GROUP, Arkema, The Sherwin-Williams Company, The Hesse Companies, nano Care Deutschland AG, CCM GmbH, Apogee Enterprises, Inc., and Tribos Coatings (International) Ltd among others.

REGIONAL FRAMEWORK

Hemp Paper Market Report Analysis

MARKET PLAYERS

Hemp Paper Market Report Scope

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