In 1997, The Department of Community Development and Applied Economics at the University of Vermont conducted a study of the potential economic impact of the hemp processing industry in Vermont. To measure this impact accurately, we tried to determine how the costs of producing composite materials, textiles, and paper from hemp are different than producing those articles from other materials. The results suggested that it was unlikely that a hemp textile or paper industry would have a large impact on Vermont's economy. Most hemp textiles are imported from China, while most hemp paper comes from eastern Europe.
Composites are another story.
Quite a few manufacturers, especially in western Europe, are developing materials ranging from building materials to fiberglass substitutes from hemp. Many of these companies are small start-ups, but they also include BMW, Volkswagen, and Deutsche Aerospace. Many of these companies see a strong potential for hemp products. We were unfortunately unable to learn much about their costs, however, because these technologies are still in the experimental stage, and companies kept their secrets.