Demand from Automotive Industry to Boost the Global Tannin Market | Technavio

November 16, 2017

LONDON–(BUSINESS WIRE)–#Research–Technavio’s latest market research report on the global
tannin market provides an analysis on the most important trends
expected to impact the market outlook from 2017-2021. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.

The growing demand for tannin from the leather manufacturing and
winemaking industries is the key driving factor for the market growth.
The growth in these industries is attributed to the rising disposable
income of consumers. In addition, the high demand for wood adhesives is
also fostering the market for tannin.

This report is available at a USD 1,000 discount for a limited time
only: View
market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2
Technavio reports and get the third for free.

The top three emerging market trends driving the global tannin
market according to Technavio research analysts are:

Development of new technologies and R&D activities in automotive
industry
Growing demand for wood adhesives
Demand from food and beverages industry

Looking for more information on this market? Request
a free sample report

Technavio’s sample reports are free of charge and contain multiple
sections of the report including the market size and forecast, drivers,
challenges, trends, and more.

Development of new technologies and R&D activities in automotive
industry

The use of tannin in the automotive segment is directly proportional to
the use of leather. The high-quality leather used in the automotive
segment for car upholstery is manufactured using tannin. Therefore, the
increasing use of leather in the automotive industry augurs well for the
growth of the tannin market.

According to Mohd Shakeel Iqbal, a lead analyst at Technavio for specialty
chemicals research, “Companies are making significant investments
in R&D activities and are striving toward the development of an
environment-friendly leather manufacturing processes. The development of
new technologies which are at par with the needs of the automotive
industry is expected to foster growth in the global tanning market.”

Growing demand for wood adhesives

The global tannin market is expected to grow during the forecast period
because of the growth in the wood adhesives market. The growing number
of construction activities along with increasing consumer spending on
building refurbishment and renovation will drive the wood adhesives
market in the next five years. Tannin is used as an essential feedstock
to manufacture wood adhesives that are used in wooden furniture,
flooring, windows, doors, and in musical instruments as well.

The growing demand for wood adhesives is also attributed to the
compatibility of wood adhesives with a wide range of substrates, low
production cost, and faster curing time. The regions where the demand
for wood adhesives is growing are the Americas, APAC, and Europe. Thus,
with the growing use of wood adhesives, the consumption of tannin is
also expected to grow during the forecast period.

Demand from food and beverages industry

The demand for tannin in the food industry is growing in Europe as well
as in APAC. Tannins are extensively used in red wines. Wine is made from
the skins, seeds, and stems of grapes. Tannins are added to the wine
during the winemaking process. They help in a long and graceful aging
potential and add softer and more elegant flavor to the wine. Tannins
derived from Oak trees enhance the smell and taste of the wine by adding
unique notes of vanilla and licorice. Tannins also act as natural
preservatives and prevent oxidation and spoiling in wines.

“The increasing consumption of tannin in the food and beverages
industry is expected to fuel the growth in the global tannin market.
Apart from wine, tannin is used by several companies as food
preservatives. Companies are using new procedures to process tannin from
different sources to facilitate higher shelf life to the food products.
This is also expected to foster the demand for tannin in next five
years,” says Shakeel.

Browse Related Reports:

About Technavio

Technavio
is a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists
of more than 10,000 reports and counting, covering 800 technologies,
spanning across 50 countries. Their client base consists of enterprises
of all sizes, including more than 100 Fortune 500 companies. This
growing client base relies on Technavio’s comprehensive coverage,
extensive research, and actionable market insights to identify
opportunities in existing and potential markets and assess their
competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team
at [email protected].

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US:
+1 844 364 1100
UK: +44 203 893 3200
www.technavio.com