Dublin, Dec. 10, 2024 (GLOBE NEWSWIRE) -- The "Coir Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)" report has been added to ResearchAndMarkets.com's offering.
The global Coir Market is projected to experience significant growth, driven by its wide applicability and environmentally friendly nature. According to market estimates, the coir market is expected to expand at a compound annual growth rate (CAGR) of 4.6%, with revenue expected to rise from US$ 625.46 million in 2024 to approximately US$ 859.29 million by 2031. This report delves into the market dynamics, key trends, and opportunities shaping the future of the coir market.
Coir, derived from coconut husks, is gaining popularity across industries due to its high durability, water absorption properties, and versatility. Coir products are widely used in agriculture, horticulture, hydroponics, construction, sound insulation, and more. Recent discoveries, such as the utility of coir pith in hydroponics and agriculture, have expanded the scope of its applications, further fueling market growth.
Key Market Drivers
Wide Applicability & Versatility of Coir
- Coir products offer high durability, water absorption, and soil erosion control.
- Traditional uses include ropes, mats, rugs, and brooms.
- Coir pith and coir yarn are finding applications in agriculture and hydroponics.
Rising Demand for Hydroponic Fruits & Vegetables
- Coir pith, with its excellent air-to-water ratio, is ideal for hydroponic systems.
- Increasing consumption of hydroponic tomatoes, lettuce, and cucumbers is driving demand.
Adoption of Coir for Sound Insulation
- Coir's acoustical absorption properties make it an effective solution for noise pollution control.
- Countries like Germany and The Netherlands are utilizing coir for residential noise prevention.
Inclination Toward Environmental Sustainability
- Coir's 100% biodegradable and renewable properties align with global sustainability goals.
- Its applications in eco-friendly construction and geotextiles are further strengthening its market appeal.
Growing Organic Farming Practices
- Coir pith and coir-based organic manure are increasingly used in organic farming, especially in the U.S., enhancing crop nutrition without chemical fertilizers.
Business Opportunities
Expanding Usage in Hydroponics and Horticulture
- Coir pith's properties make it a preferred growing medium for hydroponics.
- The rising demand for sustainable and organic agriculture solutions opens new avenues for coir applications.
Emerging Applications in Construction and Geotextiles
- Coir-reinforced concrete offers high strength and durability, making it ideal for sustainable construction.
- Coir geotextiles are becoming a low-cost alternative for soil erosion control in agriculture and civil engineering projects.
Regional Analysis
Germany: A Hub for Eco-friendly Innovations
- The country's strong focus on sustainability and eco-friendly products is driving demand for coir as a peat moss substitute and wood alternative.
- Germany ranks 5th globally in sustainable development fund achievements.
United States: Organic Movement Drives Growth
- The U.S. accounts for over 92.4% of the North American coir market in 2023.
- High demand for organic products and government support for organic farming bolster coir usage.
Developing Regions: Growth in Construction Applications
- Regions such as Latin America, Africa, and Asia-Pacific are witnessing rising demand for coir as a sustainable building material.
Challenges and Restraints
Availability of Substitutes
- Alternatives such as perlite, rockwool, and expanded clay pellets pose challenges to coir pith in the hydroponics industry.
- Research and development in synthetic growing media may limit the market's expansion.
Leading companies are forming strategic collaborations, partnerships, and acquisitions to expand their product portfolios.
Prominent players include:
- FibreDust
- Pelemix Ltd.
- Coco Argo
- Selvam Coco Tech
- SMS Exporters
- S V Coir
- RA Coir Exports
- Kumaran Fibres
- Allwin Coir
- Vaighai Worldwide
- Thiraviyam Coco Products
- Nature's Bounty PLC
- Nelsun Coir
- SIVANTHI JOE COIRS
- Duinkop
- Eco Coir World
- Thuran Coir Mills
- Boyce Argo
- Srimathi Exports
- Natural Coir Industries
- King Hydroponics
Key Topics Covered:
1. Executive Summary
1.1. Global Coir Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value and Volume, 2024
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.8. PESTLE Analysis
3. Price Analysis, 2019 - 2023
3.1. Global Average Price Analysis, by Product Type, US$ Per Unit, 2019 - 2023
3.2. Prominent Factor Affecting Product Prices
3.3. Global Average Price Analysis, by Region, US$ Per Unit
4. Global Coir Market Outlook, 2019 - 2031
4.1. Global Coir Market Outlook, by Product Type, Value (US$ Mn) and Volume (Units), 2019 - 2031
4.1.1. Key Highlights
4.1.1.1. White Fiber
4.1.1.2. Brown Fiber
4.2. Global Coir Market Outlook, by Nature, Value (US$ Mn) and Volume (Units), 2019 - 2031
4.2.1. Key Highlights
4.2.1.1. Organic
4.2.1.2. Conventional
4.3. Global Coir Market Outlook, by Source, Value (US$ Mn) and Volume (Units), 2019 - 2031
4.3.1. Key Highlights
4.3.1.1. Green Coconut
4.3.1.2. Brown Coconut
4.4. Global Coir Market Outlook, by Form, Value (US$ Mn) and Volume (Units), 2019 - 2031
4.4.1. Key Highlights
4.4.1.1. Bales
4.4.1.2. Block
4.4.1.3. Disk & Coins
4.4.1.4. Husk Chips
4.4.1.5. Grow Bag & Open Top
4.4.1.6. Rope
4.5. Global Coir Market Outlook, by End Use, Value (US$ Mn) and Volume (Units), 2019 - 2031
4.5.1. Key Highlights
4.5.1.1. Coir Pith
4.5.1.2. Coir Fiber
4.5.1.3. Tufted Mat
4.5.1.4. Handloom Mat
4.5.1.5. Curled Coir & Coir Yarn
4.5.1.6. Geo-Textile
4.5.1.7. Others
4.6. Global Coir Market Outlook, by Region, Value (US$ Mn) and Volume (Units), 2019 - 2031
5. North America Coir Market Outlook, 2019 - 2031
6. Europe Coir Market Outlook, 2019 - 2031
7. Asia Pacific Coir Market Outlook, 2019 - 2031
8. Latin America Coir Market Outlook, 2019 - 2031
9. Middle East & Africa Coir Market Outlook, 2019 - 2031
10. Competitive Landscape
10.1. Company Market Share Analysis, 2024
10.2. Competitive Dashboard
10.3. Company Profiles
10.3.1. FiberDust LLC
10.3.2. Pelemix Ltd.
10.3.3. Coco Argo
10.3.4. Selvam Coco Tech
10.3.5. SMS Exporters
10.3.6. S V Coir
10.3.7. RA Coir Exports
10.3.8. Kumaran Fibers
10.3.9. Allwin Coir
10.3.10. Vaighai Worldwide
10.3.11. Thiraviyam Coco Products
10.3.12. Nature's Bounty PLC
10.3.13. Nelsun Coir
10.3.14. SIVANTHI JOE COIRS
10.3.15. Duinkop
For more information about this report visit https://www.researchandmarkets.com/r/50jpdj
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