Press release
Global Tannin Market Growth by Key Players: Polson, Laffort, and Ulrich
Global Market Insights, Inc.
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It is extracted from bark of hemlock, chestnuts, mangrove and oak tree. The cranberries, strawberries, walnut, grapes and oranges are also rich source. These plants & fruits are easily available and the extraction process is very simple. This factor may accelerate the growth of market size in future.
It is classified as hydrolysable, condensed and phlorotannin. According to analysis, hydrolysable act as cancer inhibitor. Condensed is extensively used in leather industry. Phlorotannin are utilized in pharmaceutical industry as they have oxidizing property and precipitates proteins. Key properties include anti oxidation, radio protective, anti-cancer, and anti-diabetic.
Increasing foot-ware, purses and bags demand owing to rise in economic standards may have positive influence on tannin market size in leather industry. Global leather industry may witness gains at over 5% by 2024. Growing leather upholsteries demand in automobile sector due to consumer inclination towards better vehicle aesthetics may act as another contributing factor towards product demand.
Growing wood adhesives demand due to compatibility with wide range of substrates along with low production cost and faster curing time is likely to drive industry growth. Global wood adhesive market was valued at over 2 million in 2016. It has wide application scope in wooden furniture, musical instrument and floorings. Tannin is essential feedstock for manufacturing wood adhesive thereby stimulating industry growth.
The anti- inflammatory property of tannin helps to control problems related to irritating bowel disorders, esophagitis, enteritis and gastritis. The anti-inflammatory effects controls gastritis, enteritis, irritating bowel disorders, and esophagitis. It forms a protective layer over the wound and helps in healing process. It gives an instant relief to sore throat, skin ulcer, fatigue and haemorrhaging, which may drive global pharmaceutical industry.
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Asia Pacific led Japan, India, China tannin market has witness surge in demand over the forecast timeframe. Rapid industrialization along with increase in purchasing power may drive regional industry growth. Favorable government guidelines accompanied by integrating lightweight materials in construction industry may favour product demand for wood adhesives market.
Tannin and its monomers may have carcinogenic effect on health which may hinder industry growth. Its extracts are obtained from mimosa, oak and quebracho trees which are utilized by the leather manufacturing companies. These extracts may show a supply demand gap and affect tannin market price trend.
Global tannin market share is highly competitive. Major players operating in the industry include Polson, Laffort, and Ulrich. Companies are focusing on R&D spending towards development of eco-friendly technology to expand business.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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