PUBLISHER: Allied Market Research | PRODUCT CODE: 1239549
PUBLISHER: Allied Market Research | PRODUCT CODE: 1239549
The coconut shell powder market size was valued at $286.7 million in 2021, and is estimated to reach $588.4 million by 2031, registering a CAGR of 7.6% from 2022 to 2031. Coconut shell is a kind of agricultural solid waste. The poor management and improper disposal of agricultural wastes causes environmental menace which affects the health status of the dwellers. There are number of advantages of coconut shell powder including the use of particulate as structural or building additions, powder reinforcement in polymer and metal matrix composites, and for water purification & energy production. Among the agricultural waste products, coconut shell powder has reportedly produced the most activated carbon.
Coconut shell powder is used as a burning medium in the production of mosquito coils. The mosquito repellent market in India is currently worth approximately Rs 1,600 crores per year and is growing at a rate of 15% per year. Coil products account for approximately 40% of the market. Coconut shell powder is used as a thermoset moulding powder in thermoset moulding compositions technique such as phenol formaldehyde moulding powder or bakelite and synthetic resin glues. Coconut shell powder with a particle size of 90-100 mesh is suitable as a filler in thermoset moulding powder, while powder with a particle size of 200-300 mesh is used in synthetic resin glues. Thus, above factors and trend shows lucrative opportunities for coconut shell powder in industrial sectors.
The companies involved in the manufacturing of activated carbon and absorbents are using raw materials such as agriculture byproducts including coconut shell to produce activated carbon owing to stringent environmental protection regulations. The market for coconut shell powder is also anticipated to benefit from tax policy refunds, many subsidies, and government spending on wastewater treatment.
According to the market analysis, the coconut shell powder market is segmented into mesh size, application, sales channel, and region. On the basis of mesh size, the market is categorized into 80 - 100 Mesh and 200 - 300 Mesh. As per application, it is segregated into insect repellent, activated carbon, extender and filler, absorbent, and others. According to sales channel, it is segmented into offline and online. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, France, Spain, Italy, Netherlands, Germany, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Indonesia, Philippines, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and Rest of LAMEA).
The major players operating in the coconut shell powder industry are New Century Vietnam Organic Company Ltd., OHM Trishul Bio Process, Rich Moon Co., Ltd, Vijayanagar Food & Nutraceuticals Pvt. Ltd., VietDelta Ltd., Coco Green (Pvt) Ltd., Coco Land Lanka (Pvt) Ltd., Consarc (Pvt) Ltd., Gournish Traders, Umang Pharmatech Pvt. Ltd., and Bali Coco.