The global Leather Tanning Market is forecast to reach USD 3.09 Billion by 2027, according to a new report by Reports and Data. A significant factor driving future growth has been the increasing demand from the leather industry globally. Owing to the increased knowledge of the medicinal benefits of tannin-based drugs, the usage of tannin extracts in pharmaceuticals has increased. Due to its excellent antioxidant effects, tannins are widely used for wine processing. These are used to stabilize the wine's color and also to ensure structural stability. Both these conditions are projected to support wine consumption over the forecast era. Tannins include mucosal tissues that coagulate proteins and are beneficial for skin inflammation and pain-relieving. Health tannin related drugs are used to heal skin cuts, bruises, sore teeth, burns, bronchitis, and minor illnesses. Tannin extracts are used in all three phases of the processing of leather, including planning, tanning, and crusting. In 2019, leather tanning became the growing product group owing to this situation, which is predicted to retain its domination in the coming years.
Top Companies Operating in the Global Leather Tanning Market:
Jyoti Dye Chem Agency, Tannin Corporation, Forestal Mimosa Ltd, S.AAjinomoto OmniChem N.V., Zhushan County Tianxin Medical Chemical Co., Polson Ltd, UCL Company Ltd, Tanac S.A, LaffortSA, and Ever s.r.l
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Further key findings from the report suggest
- Based on the sources, brown algae generated a revenue of USD 928.71 Million in 2019 and believed to grow considerably with a CAGR of 5.6% in the forecast period attributable to its presence in various bodies of water, including dunes, coastal splash zone, intertidal zone, and near-coastal waters.
- The phlorotannins expected to grow with a CAGR of 5.2% in the forecasted period owing to its numerous beneficial therapeutic properties, including radiation-protective, anti-cancer, antibacterial, antioxidant, anti-HIV, and anti-diabetic products.
- The leather tanning application is the major contributor to the Leather Tanning Market. The leather tanning sectors of the European region are the major shareholder of the market and held around 61.0% of the market in the year 2019, owing to its varied uses in chairs, car benches, and clothes, coupled with the growing consumer awareness of Tannin's benefits.
- Europe dominated the market for Tannin in 2019, due to the growing consumption of alcohol and increased demand for leather goods coupled with the well-established wine industry. Europe region held approximately 39.0% of the market, followed by the Asia Pacific, which contains around 25.6% market in the year 2019.
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Leather Tanning Market Segmentation
Sources Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Plants
- Brown Algae
Product Outlook (Volume, Kilotons; 2017-2027, Revenue, USD Billion; 2017-2027)
- Hydrolysable
- Non-hydrolysable
- Phlorotannins
Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Leather Tanning
- Wine Production
- Wood Adhesives
- Anti-Corrosive Primers
- Others
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Leather Tanning Market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Leather Tanning Market.
The global Leather Tanning Market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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