Synthetic Tannins Market Size

Synthetic Tannin Market size was over USD 3 Billion in 2023 and is likely to cross USD 6 Billion by the end of 2036, growing at more than 7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of synthetic tannin is evaluated at USD 3.45 Billion.

The increased demand for chemicals globally may augment the need for synthetic tannin accordingly in several end-use industries. One of the biggest industries in the world, the chemicals sector saw significant expansion in several areas as it plays a significant role in the expansion of the world economy, trade, and employment.

According to the International Energy Agency, demand for high-value chemicals has increased over the last ten years by 3.0% per year.