Tannin Market Comprehensive Analysis on Key Player - Forestal Mimosa, Tannin Corporation, Tanac, Polson, W. Ulrich GmbH, Zhushan County Tianxin Medical & Chemical

Polaris Market Research presents a most up-to-date research on “Tannin Market [By Product Type (Hydrolysable, Non-Hydrolysable, Phlorotannins); By Application (Leather Tanning, Wood Adhesives, Wine Production, Others); By Region]: Market Size & Forecast, 2017 – 2026”.

The global Tannin Market was valued at USD 2,040 million in 2017, and is projected to reach USD 3,755 Million by 2026, growing at a CAGR of 7.1% from 2018 to 2026.

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Major key players-

• Forestal Mimosa Ltd.
• Tannin Corporation
• Laffort SA
• Tanac S.A.
• Tanin Sevnica d.d.
• Zhushan County Tianxin Medical & Chemical Co., Ltd.
• S.A. Ajinomoto OmniChem N.V.
• Polson Ltd.
• W. Ulrich GmbH
• Ever s.r.l.

The rapid increase in the demand of tannin from leather industry majorly drives the growth of this market. Growing demand from wine industry, and increasing disposable income especially in developing regions support the market growth. The consumers are increasingly consuming alcohol owing to rising living standards, rising disposable income, and improving lifestyles. The rising demand of luxury goods, automobiles with luxurious leather interiors, clothes, and shoes is expected to drive the market during the forecast period. The growing use of tannin in applications such as healthcare, and wood adhesives would further supplement the market growth. New emerging markets, and emerging consumer demographics would provide growth opportunities for tannin market in the coming years.

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Europe accounted for the majority of the market share in 2017. The highly established wine industry majorly drives the market growth in the region. The increasing demand from the leather and automotive segment further augments the adoption of tannin. Leather is used in the automotive segment to design luxurious interiors for cars. Asia-Pacific is expected to grow at the highest CAGR during the forecast period owing to increasing population, rising disposable incomes, and improving lifestyles in developing countries of this region. A significant increase in the demand for luxury leather goods, and food manufacturing industry has been registered in the region, thereby boosting the tannin market. Leading global players are expanding their presence in developing nations of China, Japan, India, Indonesia, and Malaysia to tap the growth opportunities offered by these countries.

Tannin is used in various applications such as leather tanning, wine production, and wood adhesives among others. The leather tanning segment is expected to lead the market during the forecast period owing to increasing demand of leather from textiles and automotive industries. Leather tanning involves treating of animal skins and hides for the production of leather. Rising disposable income, high standards of living, and growing demand for leather goods drive the growth of the market.

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