HempFlax, Europe’s largest independent hemp grower and processor, entered the construction space last month when it bought an insulation manufacturer in Germany and launched its own sustainable building supplies division.
Hemp insulation is a niche market: According to HempFlax, it represents less than 0.5% of the 3.3 million tons of insulation used each year in the construction industry. But the long-term potential, especially in Europe, cannot be ignored, Reinders said.
“I am convinced that renovating houses will be bigger than building houses,” the executive said. “That will be done by people doing it themselves, and they will care about the materials that they use. A private home owner is looking for sustainable materials.”
Reinders predicted a long life for the hemp construction sector.
“I think this is the right moment to step in, because we will be the industry to rebuild the economy,” he said.