Legalised cannabis, once an idea dismissed by people the world over down to a stereotype portraying the plant in a negative light, is increasingly rebranding itself upon a foundation of science in order to present new opportunity on a global scale over the next decade. You may be wondering; how big could this market get? To give you an idea, it is projected that by 2024, the amount spent that year on legal cannabis alone would reach US$46 billion. While the numbers speak for themselves, it is also important to get to grips with how it can be possible for a market that was shrouded in bad publicity, and to some extent still is, has this kind of explosive potential, and this year, 2021, could provide the key to understanding this. Legislation in countries with geopolitical advantages, such as Mexico, has the potential to introduce the largest legal cannabis market to the global stage this year, and with the benefits of cannabis-based building materials experienced the world over, you may wish to look a little closer at the opportunities arising over the remaining quarters of 2021 across Latin America.
Hempcrete: Global context
The use of industrial cannabis in the form of hemp-based building materials is relatively well-known, yet there is room for innovation to continue developing the uses over time, and with globalisation increasing rates of urban sprawl, the demand for cost-effective and sustainable materials is more of an issue than ever. Let us start with some of the principal benefits of using hempcrete:
1. Lighter than concrete
3. Soundproof and bullet-proof due to the durability
4. Biodegradable and recyclable
5. Carbon-negative (absorbs more than is released during production)
In 2021, there is a new two-hectare factory set to open in Belgium for the construction of hempcrete building materials, demonstrating the scalability of the industry, making the investment in it all the more intriguing for the year ahead. Not only this, referring back to the previous point about an eco-friendly and economical solution to housing, in the United States, the use of hempcrete and other hemp-based building materials is projected to decrease house prices in northwest Colorado by at least 60%, such houses costing a maximum of US$425,000 where standard houses are around US$1.2 million according to stockhouse.com. It is clear that in terms of investments, you would find profitability in the industrial cannabis building materials market.
Hempcrete: The real-world applications in Latin America
Earlier we referred to the market potential of legalised cannabis in the context of Mexico, therefore, it seems fitting to discuss real world examples of hempcrete use in the Latin American nation to exemplify this further. The carbon negative element of hempcrete adds to the appeal of the material in Mexico due to the urban metropolis that is Mexico City. In order to offset carbon outputs, the use of the cannabis-derived building material presents an ideal solution. One such example is Stephen Clarke who built a hempcrete house in Tulum, a jungle environment which is unlike other examples we have mentioned on our blog before and therefore represents a pioneering idea that hempcrete has no geographical/environmental boundaries. These homes are a realistic prospect for widespread implementation in the Latin American nation in the near future, and the positive environmental attributes associated with it signify a changing momentum within the construction industry in the region.
So, if you are interested in finding out more, get in touch with us today! At Creimerman, we are a team of global citizens, working with each client and providing a tailor-made service in order to help make their cross-border ventures a success, and we would love you to be the next.