With the largest multi-purpose industrial hemp decortication facility in the United States, Hemp, Inc. expects to capture a large share of the natural fiber composites market. The industry’s projected growth is a compound annual growth rate (CAGR) of 8.2% through year 2020. “This creates tremendous opportunity for Hemp, Inc. and its subsidiary, Industrial Hemp Manufacturing, LLC (IHM). Hemp is becoming one of the most sought after raw materials and Hemp, Inc. has the largest, commercial multi-purpose decortication plant in the U.S. to process that natural fiber,” says Bruce Perlowin, CEO of Hemp, Inc. ( OTC PINK : HEMP ).

North America accounts for a large share of the Natural Fiber Composites market. According to the report, the demand for more ecofriendly materials from the construction and automotive industries, specifically, has created the surge. DEFRA (Department of Environment Food & Rural Affairs) reported, “Almost 1.5 million vehicles included applications for natural fibers such as kenaf, jute, flax, hemp and sisal in combination with thermoplastic polymers such as polypropylene and polyester. The demand for natural fiber composites in North America is projected to continuously increase in the near future on account of significant performance at lower prices of natural fiber composites in automotive and construction applications driven by regulatory standards recommending the use of lightweight and recyclable materials.”

Hemp, Inc. has been likened, by many shareholders and supporters, to global natural fiber composites industry players such as FlexForm Technologies, Procotex Corporation SA, and GreenGran BV, to name a few. FlexForm, for example, formulates natural fiber composites from a blend of kenaf, hemp, flax, jute and sisal and thermoplastic polymers such as polypropylene and polyester and is currently found in over a million vehicles in the United States.

According to another April, 2016 report, “Natural Fiber Composites Market”, “The demand for natural fiber composites in the construction industry for outdoor deck floors, railings, fences, landscaping timbers, park benches, window and door frames, and indoor furniture has grown remarkably on the global platform. This is due to their superior strength-to weight ratio, recyclability, and low cost. Further, natural fiber composites are becoming popular and essential for making automotive components such as seatbacks, parcel shelves, boot linens, front and rear door linens, truck linens, and door-trim panels due to their lightweight and increased fuel efficiency.” Hemp and flax fiber have replaced glass in a number of components, especially in the German automotive industries.

David Schmitt, COO of Hemp, Inc.’s Industrial Hemp Manufacturing LLC said, “While we continue to get the decortication plant in Spring Hope, North Carolina operational, we are releasing our first super absorbent, environmentally friendly product, SpillSuck™. It’s made from the core of kenaf and hemp plants and is one of the world’s most absorbent natural materials used primarily for oil, chemical and other liquid spills.” Schmitt informed Hemp, Inc. executives that the company’s first 25,000 pounds of SpillSuck™ are in the final stages of packaging.

After the release of SpillSuck™, Hemp, Inc.’s ( OTC PINK : HEMP ) next product-to-market will be its DrillWall™, commonly referred to as “loss circulation material” or (LCM). It’s a micronized plant cellulosic material that is a natural non-toxic antimicrobial. LCMs are used as a drilling fluid, as well as a lubricating agent, a torque and drag reducer, in order to prevent differential sticking. Mainly utilized by oil and drilling companies, LCMs quickly seal highly permeable formations of fractured shale, sand or pre-salt during the drilling process. Moreover, Hemp, Inc.’s LCM, DrillWall™, can be used with all types of drilling fluids such as water-based, oil-based, or synthetic.