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.
North America led by Canada and the U.S. tannin market size may witness an uptrend owing to increase in leather products demand and wine consumption. has indicated growing trend in consumption of alcohol & usage of leather products. Increase in construction spending along with building refurbishment and renovation may drive wood adhesives market in the region.
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Europe tannin market size, driven by France, Spain, Italy,UK, and Germany may witness gains due to presence of various manufacturing companies. France has high technology wineries thus product demand in this region may experience steady growth in the future. Tannin Market size is mainly driven by wine making and leather manufacturing industries.
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.
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Tannin also finds application in wine production owing to anti-oxidant property. It provides colour stabilization in wine a smooth texture to wine. It helps in wine fermentation and proper aging. Global wine industry may witness steady growth at over 3%. The change in life style has led to rise in wine consumption in special occasions thereby contributing towards wine market.
Plant containing tannin include eucalyptus, sainfoin, mangroves, and canaigre which are easily processed and procured. Brown algae are usually found in waterbodies including near shore waters, rock pools, and tidal splash zone. It is difficult to procure, handle and costly.
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.
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