Coir Market Research Report - Forecast 2017 – 2025

Coir Market Introduction

Coir is a natural fiber, which is extracted from the husk of the coconut. It is the fibrous material found between the hard, internal shell and the outer coat of a coconut. Coir is native to the Asia Pacific region, specifically India and Srilanka, where coconut is produced in a large quantity and exported across the world. Currently, the global annual production of coir is 650 000 tones. Mainly the coastal region of India, produces around 60% of the total world supply of white coir fiber, whereas Sri Lanka produces around 36% of the total world brown fiber output. Over 50% of the coir produced annually throughout the world is consumed in the developing countries. Recently, countries such as Mexico, Indonesia, Vietnam and certain Caribbean countries have started to supply coir to the global market on a large scale.

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Coir Market Segmentation

The Coir Market can be segmented on the basis of types, application, and region

By types, the coir market can be segmented into the brown fiber and white fiber. Both the types are used for designing mats, sacking, mattresses, brushes, and upholstery. These are widely used in textile industry for their low decomposition rate. The more commonly used is the brown fiber, which is obtained from mature coconuts, followed by the white fiber, which is extracted from immature green coconuts after soaking for up to 10 months.

By application, the coir market can be segmented into the food industry, agriculture industry, upholstery industry, fishing industry, carpentry industry. In the food industry, coir is used for insulation and to make cold storages where food products can be preserved for a long time. In the agriculture industry, coir is used for farming and gardening activities. It is also used to make nets which are used to prevent soil erosion during heavy rains and cyclones. In the upholstery industry, coir is traditionally used for making rope and twine, brooms and brushes, doormats, rugs, and other upholstery. It is also used as a combination with natural rubber and is used for filling up mattresses, automobile seats, sofas, settees, and seating systems.

In the fishing industry, coir is used for making fishing nets and is preferred for its non-toxic properties. In the carpentry industry, coir is used as a substitute for plywood. Coir ply has all the properties of phenol-bonded ply with the added strength of fiber reinforced phenol bonding. It has high degrees of surface abrasion resistance and resists contraction/ expansion due to variations in temperatures.

By region, the Coir market can be segmented into five distinctive regions, which includes North America, Latin America, Europe, Asia Pacific, Middle East and Africa. Among these, Asia Pacific is leading the coir market due to the highest production in India and Srilanka, followed by North America and Europe. India and Srilanka exports to about 72 countries all over the world. The major market destination is the USA with about 37%, the European Union Countries with about 47% and the remaining countries of the world accounting for the rest of its coir exports.

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Coir Market Drivers, Trends, and Drivers

The growing demand for eco-friendly products in the market is where coir should fast step in. It is a lightweight, soilless growing medium made from the fibers which are found between a ripe coconut's shell and an outer surface. As it’s a material that occurs in nature, it’s completely renewable and is therefore considered an excellent choice for environmental sustainability. The efforts support the market expansion for coir and the Asia Pacific hopes to further increase production by streamlining the fiber collection process to meet demand. Research and development efforts are continuing to focus on the use of coir in geotextiles and other new applications as the market show promising prospects. The coir market also has many weaknesses and is facing real threats. It is under constant threat from other natural fibers and synthetics. The key reasons which are restraining the market to grow are the negligence towards the benefits of coir and its market.

The market as a whole has not influenced government policies to improve its chances for competitiveness. Government policy assumes coir is a byproduct of the coconut industry, rather than an industry on its own. As a result, little thought, much less funding, has gone into improving the competitiveness of the coir industry. The government, for instance, has no long-term plans for modernization loans and no minimum standards for exporters of coir products.

Coir Market Key Players

The benefits of Coir are attracting the manufacturers to produce and distribute the products in the market. Some of the key manufacturers in the Coir market are Geewin Exim., SMS Exporters, Sai Cocopeat Export Private Limited., Kumaran Coir, Allwin Coir., Travancore Cocotuft Pvt. Ltd., BENLION COIR INDUSTRIES., Classic Coir., and others.

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