Coconut Shell Powder Market Expected to Reach $588.4 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Coconut Shell Powder Market," The coconut shell powder market was valued at $286.70 million in 2021, and is estimated to reach $588.4 million by 2031, growing at a CAGR of 7.6% from 2022 to 2031.

Coconut shell powder is made from the most organic and versatile part of the coconut - the shell. In general, coconut shell is known for its high toughness, excellent durability, increased abrasion resistance, and longer life. The shell's chemical composition is similar to that of hard wood, with the exception of higher lignin and lower cellulose content.

Coconut shell flour is made from the shells of fully matured nuts that have been cleaned completely of pithy matter and ground into crumbs. These pieces are subjected to continuous grinding in grinding mills, and the ground mass is finally thrown out in various mesh sizes after passing through cyclones and vibratory sieves with phosphor-bronze mesh.

Various machines and equipment are used to manufacture coconut shell powder, including crushing and pulverizing equipment. Machines and equipment are designed and manufactured to provide maximum efficiency to end-user industries. These crushing and pulverizing machines are used to reduce the size of coconut shells and turmeric. A mesh size of 80-100 mesh is appropriate for thermo set moulding powder, whereas 230-240 mesh is required for synthetic resin glues. Furthermore, the activated carbon segment gained significant popularity in the coconut shell powder market. Government restrictions and rising need for activated carbon for a range of applications, including nuclear and mining, are important drivers of the coconut shell powder market's expansion worldwide. Furthermore, it is anticipated that the market would see development in specialized industrial process water applications. The usage of activated carbon in water treatment and mercury removal facilities is also driving up demand for the material, which in turn is spurring the market for coconut shell powder.

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).

On the basis of mesh size, the 200 - 300 mesh segment accounted for around 34.8% of the global coconut shell powder market share in 2021, and is expected to sustain its share during the forecast period. According to the US Department of Forestry, resin glue may sound like a natural adhesive, but it is a synthetic resin made from synthetic chemical compounds that are similar to natural resins. However, these adhesives are not referred to as synthetic resins. They are simply known as resin glue. Coconut shell powder is an industrial product that is primarily used as a filler. It is utilized in the production of synthetic resin glues. Adhesive resins incorporate a variety of applications and objects as an adhesive layer to improve the structure's durability and integrity. It connects the surfaces of various materials, effectively distributing stress at the junction. The application of adhesive resin quickly forms a strong bond to aid the adhesion process. The application of high-performance adhesive resin increases the cohesive strength, causing the adhesive resin market to grow during the forecast period. Thus, increasing popularity and use of synthetic resins glues for industrial applications are likely to supplement for the growth of coconut shell powder market during the forecast period.

On the basis of application, the extender and filler segment was valued at $95.2 million in 2021, and is expected to reach $187.4 million by 2031, with a CAGR of 7.1%. Extenders and fillers are used in adhesive and sealant formulations. Coconut shell powder is one of the extenders and fillers used to improve properties and reduce costs. Concrete manufacturing is one of the applications where coconut shell is widely used as extender and filler. The rising cost of building materials is a source of concern. The reason for the cost increase is a high demand for concrete and a scarcity of raw materials. As a result, concrete technologists must look for a cost-effective alternative to coarse aggregate. In this case, coconut shell is used as a partial substitute for coarse aggregate. The use of coconut shell reduces aggregate costs while providing adequate strength for structures and roads. It reduces landfill costs and conserves energy. Thus, above factors are likely to boost coconut shell powder market demand through extenders and fillers segment during the forecast period.

According to the coconut shell powder market trends, depending on sales channel, the offline segment was valued at $209.0 million in 2021, and is expected to reach $422.2 million by 2031, with a CAGR of 7.4%. The sale of coconut shell powder over the counter is seen as selling directly to consumer sectors like those that produce activated carbon and absorbent materials. Due to the fact that coconut shell powder is sold and bought in large quantities, direct distribution has accounted for the majority of the market for this product worldwide. It is an industrial product that is utilized as a raw material by businesses that manufacture absorbent, extender and filler, chemical, and other industrial products. Coconut shell powder is widely utilized and regarded as one of the basic raw materials in such significant industries. Consumer industry directly approaches the producers of coconut shell powder for buy activities in offline sales.

According to the coconut shell powder market analysis, region wise, Asia-pacific has been gaining a significant share in the global coconut shell powder market size and is expected its share throughout coconut shell powder market forecast period. Rapid industrial expansion in the region and growing use of coconut shell powder as an absorbent in water treatment activities in the production of activated carbon with further multiple applications in industries are likely to supplement the Asia-Pacific coconut shell powder market growth during the forecast period. Furthermore, the high production of coconut in Indonesia, India, the Philippines, and other countries of the Asia-Pacific region is a major growth driver for the Asia-Pacific coconut shell powder market during the forecast period.

The players operating in the coconut shell powder industry have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, remain competitive in the market, and gain coconut shell powder market opportunities. The key players profiled in coconut shell powder industry include 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.

Key findings of the study

• The coconut shell powder market size was valued at $286.7 million in 2021, and is estimated to reach $588.4 million by 2031, growing at a CAGR of 7.6% during the forecast period. 
• In 2021, depending on application, the activated carbon segment was valued at $66.6 million, accounting for 23.2% of the global coconut shell powder market share.
• In 2021, depending on sales channel, the offline segment was valued at $209.0 million and is expected to grow at a CAGR of 7.4%. 
• In 2021, the U.S. was the most prominent market in North America, and is projected to reach $80.3 million by 2031, growing at a CAGR of 6.3% during the forecast period