Latin America Tannin Market

Latin America Tannin Market Size, Share, Growth (2022-2027)

Latin America Tannin market is foreseen to increase from USD xx million in 2022 to reach USD xx million by 2027

Overview:

The regional market is expected to experience moderate growth to record a notable CAGR throughout the calculated period (2021 -2026). Tannin is an organic substance found mainly in the tissues, fruits with a yellowish or brownish-yellowish taste, and the bark and leaves of various plants. The other popular name for tannin is tannic acid, and most of this content is derived from plants. They offer protection to the plants from the regulations of growth and predation. Fruits like organs, grapes, walnuts, blueberries, strawberries, and blueberries are rich source of tannin. Tannin is used in cuts and burns to reduce bleeding and scarring, and in various applications.

Recent Developments 

In May 2018, Rehap collaborated with the Bio Base Europe (BBEPP) pilot plant in Belgium to develop and expand the extraction of hot water from tannin.

Latin America Tannin Market Drivers and Restraints:

The rapid increase in demand for tannins in the leather industry mainly stimulates the growth of the Latin American tannin market. Rising demand from the wine business and increasing disposable incomes, particularly in emerging areas, are supporting market growth. Consumers consume more and more alcohol as a result of higher living standards, higher disposable incomes and better lifestyles. Growing demand for luxury goods, cars with luxurious leather interiors, clothing and footwear is expected to stimulate the market during the forecast period. The surge in the number of applications of tannin in verticals like healthcare and wood adhesives is prophesized to further boost the expansion of the market. Newly developing markets and the demographics of developing consumers would offer growth openings for the tannin market in the upcoming years. Tannin and its monomers can have a carcinogenic effect on health, which can hinder the growth of the industry. Its extracts are obtained from mimosas, oaks and quebrachos that are used by leather manufacturing companies. These extracts can show a gap between demand and supply and affect the trend in tannin market prices.

On the other hand, certain factors can hinder the growth of the market, in particular the toxic properties of tannin in humans.The increase in disposable income, a high standard of living and the increasing demand for leather goods are stimulating the growth of the market. Primers made with tannin additives resist adverse weather conditions and smooth the oxidized steel surface, which can increase product demand. The size of the anti-corrosion coatings market could gain more than 5%. Tannin also finds application in wine production due to its antioxidant property. It offers stabilization of the color of the wine and a smooth texture to the wine. It helps wine fermentation and good aging. The wine industry could experience steady growth of more than 3%. The change in lifestyle resulted in increased wine consumption on special occasions, thus contributing to the wine market. Tannin-containing plants that are often referred in the world are eucalyptus, sainfoin, mangrove, and canola, which can be readily processed and purchased.

Latin America Tannin market segmentation

Tannin is used in several applications, such as

• wood adhesives

• wine production

• leather tanning

The leather tanning segment is expected to dominate the market during the outlook period due to growing demand for leather from the textile and automotive industries.

Based on the product,

• hydrolyzable

• non-hydrolyzable

• florotannins

By source

coastal waters,

rock pools,

tidal splash

Latin America Tannin Market Regional Analysis

• Mexico

• Brazil

• Peru

• Chile

The region of Latin America is predicted to show significant growth in the coming years. Forgiving regulations in these markets also help increase demand and encourage foreign players to invest, making the market more competitive.

Latin America Tannin Market Key Players

1. Tannin Corporation

2. Forestal Mimosa Ltd

3. S.A. Ajinomoto OmniChem W. Ulrich GmbH

4. Tanac S.A

5. Ever s.r.l.

6. Silvateam SpA

7. Polson Ltd

8. Laffort S.A.