Global Coconut Shell Powder Market Report and Forecast 2024-2032

Global Coconut Shell Powder Market Outlook

The global coconut shell powder market size attained a value of USD 335.11 million in 2023. The market is further expected to grow at a CAGR of 8% between 2024 and 2032, to reach a value of USD 669.11 million by 2032.

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Key Trends in the Market

Coconut shell powder is a type of powder that is produced by the powdering of coconut shells. It is used as a filler in various compounds such as bakelite, and synthetic resin glues, among others. It is also applied in the manufacturing process of plywood and laminated boards. Coconut shell powder has a high specific strength to weight ratio and is a renewable resource as more coconut trees can be planted to increase supply.  

• The increasing use of coconut shell powder as a raw material in the activated carbon sector is contributing to the expansion of the coconut shell powder market share. Activated carbon is witnessing a heightened application in the water treatment sector. In addition, stringent regulations aimed towards reducing environment pollution are further generating the demand for activated carbon.

• Coconut shell powder is also used in the finishing process of variety of moulded articles owing to their resistance to heat and moisture, which are key coconut shell powder market trends. The increasing demand for coconut shell powder in the furniture manufacturing process is further fuelling the market growth.

• Furthermore, coconut shell powders are witnessing growing applications as a mild abrasive in the historical building’s reconstruction and renovation. They are also utilised as a waste circular material in the oil and gas sector which is augmenting the coconut shell powder market growth.

Market Analysis

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Based on mesh size, the market is segmented into 80-100 mesh and 200-300 mesh. On the basis of application, the market is classified into insect repellent, activated carbon, extender and filler, and absorbent, among others. The regional markets for coconut shell powder are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.  

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global coconut shell powder market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Nguyen Nga Lau Co., Ltd

• Kasturi Coconut Processing

• New Century Vietnam Organic Company Limited

• Rich Moon Co. Ltd.

• Anitha Exports

• Shree Balajee Magnesite

• Others

Market Share by Mesh Size

The 80-100 mesh segment, based on mesh size, accounts for a healthy share of the market for coconut shell powders. Mesh sizes of 80-100 are ideal for producing thermoset moulding powder which is used to manufacture a wide range of electronic items such as microwave antennae, substation components, circuit breakers, metering boards, and switchgears, among others. In addition, these products are also used in the production of electrostatic powder coatings, which is further influencing the coconut shell powder market price. 

Meanwhile, the increasing application of 200-300 mesh sized coconut shell powders in the production of synthetic resin glues is bolstering the segment’s growth. Over the forecast period, the anticipated increase in demand for synthetic resin glues in wood working and flooring sectors are likely to fuel the growth of this segment. 

Market Share by Application

Based on application, the insect repellent segment occupies a significant share of the coconut shell powder market. The increasing demand for coconut shell powder to manufacture mosquito coils and incense sticks from household sectors is fuelling the growth of this segment. Growing awareness pertaining to the diseases caused by insects is further propelling the demand for coconut shell powder from households. Meanwhile, the activated carbon segment is expected to witness a healthy growth in the forecast period, owing to the escalating application of activated carbon in various industrial fields, including food and beverage processing and beauty and personal care. 

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Competitive Landscape

Nguyen Nga Lau Co., Ltd is one of the largest manufacturers of raw materials for making mosquito coils and incense sticks. The product portfolio of this company includes joss powder, wood powder, coconut shell powder, aromatic wood powder, and bamboo sticks, among others. The company was established in 1980 and is headquartered in Binh Dinh Province in Vietnam. 

Kasturi Coconut Processing is a food processing company which was founded in the year 2000 and is currently headquartered in Karnataka in India. A widely known manufacturer, supplier, and exporter of various products, the portfolio of the company includes fresh coconut products, dried coconuts, coconut oil, coconut water, and coconut shell and coconut charcoal products, among others. 

New Century Vietnam Organic Company Limited is a provider of raw materials which are used to produce joss powder, wood powder, premix powder, bamboo stick, Onggok powder, coconut shell powder, and tapioca starch, among others. The company was founded in the year 2011 and is currently headquartered in Hanoi, Vietnam. 

Other market players include Rich Moon Co. Ltd., Anitha Exports, and Shree Balajee Magnesite, among others.

Key Highlights of the Report