Research Nester assesses the growth and market size of the global synthetic tannins market which is anticipated to be on account of the growing chemical sector and growing construction activities.
New York – April 04, 2024- Research Nester’s recent market research analysis on “Synthetic Tannins Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global synthetic tannins market in terms of market segmentation by type, end-use, form, and by region.
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Growing Demand for Leather Items to Promote Global Market Share of Synthetic Tannins
The global synthetic tannins market is estimated to grow majorly on account of the increasing need for leather goods. The demand for leather goods is experiencing growth owing to rising disposable incomes and increasing awareness of sustainability, evolving consumer preferences, and industry dynamics.
One significant factor driving the demand for leather goods is fashion, which continues to be a staple material in many designer collections.
As disposable incomes rise, consumers are spending more on luxury and premium products, including leather goods, which has led to increased demand for tannins, which are essential chemicals used in the tanning process to convert raw animal hides into leather. However, synthetic tannins, have also become increasingly prevalent in the leather industry owing to their consistency, efficiency, and cost-effectiveness, and as they offer several advantages over natural tannins, including faster tanning times, better color consistency, and greater control over the tanning process.
This synthetic tannin is used by all shoe manufacturing companies since it has the highest demand and profit margin, and is used as a dispersing agents for vegetable tannins and dyestuffs.
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Some of the major growth factors and challenges that are associated with the growth of the global synthetic tannins market are:
Growth Drivers:
• Surge in Demand for Pulp and Paper
• Rising Need for Food
Challenges:
The rising environmental concern for risks associated with the production of leather, and the presence of natural tannins are some of the major factors anticipated to hamper the global market size of synthetic tannins. Oaktree gallnuts are a great source of organic, transparent tannin, which is collected and ground to be used in dyeing.
In addition, the leather industry engages in several highly harmful environmental activities that may hamper the market growth. The production of leather raises several environmental concerns owing to the use of chemicals throughout the tanning process which requires large quantities of water and involves the use of various chemicals, including chromium salts, formaldehyde, and solvents, that can have harmful effects on human health and the environment.
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By type, the global synthetic tannins market is segmented into hydrolysable, and condensed. The hydrolyzable segment is to garner the highest revenue by the end of 2036 by growing at a significant CAGR over the forecast period. A hydrolysable tannin is a form of tannin composed primarily of glucose molecules that contain antioxidant, anticancer, and cardioprotective qualities that raise the nutritional content of plant-based diets and have been used as feed additives.
Furthermore, condensed tannins, perform a range of ecological functions, including shielding plants from herbivores and microbial infections, and are also helpful additives used in acrylic-based transparent coatings to extend the coating's lifespan.
By region, the Asia Pacific synthetic tannins market is to generate the highest revenue by the end of 2036. This growth is anticipated by the growing textile sector in the region. India has steadily established itself as a world leader in the textile industry and has shown incredible growth and innovation to become a powerful force in the world arena owing to significant government efforts. One of India's most significant and ancient industries is the textile sector which has a long history and provides jobs for millions of people across. This is expected to create a huge demand for synthetic tannins in the region.
For instance, by 2030, the Indian textile and apparel sector is predicted to reach over USD 240 billion.
Furthermore, the rise of dermatology has been greatly aided by Indians, who suffer from a high prevalence of skin conditions such as psoriasis, eczema, fungal infections, and acne. This may increase the demand for synthetic tannins which have been used as substitutes for anti-inflammatory, steroid-based treatments, especially for pediatric dermatoses.
This report also provides the existing competitive scenario of some of the key players of the global synthetic tannins market which includes company profiling of UCL Company (Pty) Ltd., Leffort SA, Zhushan County Tianxin Medical & Chemical Co., Ltd., Tannin Corporation, Pidilite Industries, S.A. Ajinomoto OmniChem N.V., Polson Ltd., and others.
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