Friday, 18 March 2016

Tin Market Poised to Reach US$7.29 bn by 2023; Asia Pacific to Exhibit Fastest Growth : Transparency Market Research

Transparency Market Research has released a new market report titled “Tin Market for Soldering, Tin Plating, Chemicals, Brass & Bronze, Glass and Other Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015–2023.” According to the report, the global tin market was valued at US$ 7.41 Bn in 2014 and is projected to reach US$ 7.29 Bn by 2023, at a CAGR of 3.4% between 2015 and 2023.

Tin is a versatile metal and an important commodity in international trade. It has low toxicity level and high resistance to corrosion. Tin is used in soldering applications; hence, it is vital for the manufacture of high-end electronic items such as smartphones, tablets, and personal computers. Furthermore, tin is employed in tin plating, chemicals, brass & bronze, glass, and other applications (including solar cells, lithium-ion batteries, and ammunitions).

Demand for tin is anticipated to be driven by increasing demand for electronics in emerging economies of Asia Pacific. In terms of volume, Asia Pacific is estimated to be the largest and fastest growing market for tin during the forecast period. The region is projected to be followed by Europe, North America, Latin America, and Middle East & Africa. Tin is lightweight, malleable, and ductile. It is expected to replace toxic lead in various applications including solar cells. Germany and Belgium are estimated to account for significant demand for tin in Europe due to the presence of conventional end-use industries in these countries. The U.S. is projected to be the largest consumer of tin in North America in the near future. Majority of the demand for tin in the country is expected to be met by imports from Indonesia.

Asia Pacific is likely to continue its strong growth during the forecast period due to high demand for tin in electronics and tin plating industries in the region. Currently, China is the largest market for tin in Asia Pacific owing to the rising demand for soldering applications in the consumer electronics industry. China and Indonesia account for major share of the production of tin in the world. Japan is estimated to be the second-largest market for tin in Asia Pacific after China during the forecast period. Demand for tin in Japan is projected to be low during the forecast period due to decline in population in the country and restructuring of the domestic consumer electronics industry.


Major players operating in the tin market include Yunnan Tin Group Company Limited, Thailand Smelting and Refining Co., Ltd. (Thaisarco), Yunnan Chengfeng Non-ferrous Metals Co., Ltd., Guangxi China Tin Group, Malaysia Smelting Corporation, PT Timah (Persero) Tbk, Minsur S.A., Empresa Metalúrgica Vinto S.A., Metallo-Chimique International N.V., and Gejiu Zili Mining And Smelting Co., Ltd.

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