Tin Market : Industrial Trends and Drivers will boost NextGen Technology Advancement and Application 2015 - 2023

Tin is a soft silvery-white metal that is lightweight, malleable, and ductile. It rarely used as a pure metal. Tin is employed in combination with other metals to manufacture alloys that possess numerous beneficial properties of tin. Tin is not easily oxidized and can resist corrosion, since it is protected by an oxide film.

The production of tin metal is concentrated in Latin America, Southeast Asia, and China. Myanmar is also expected to emerge as a major supplier of tin during the forecast period. Majority of smelters are located in the mining regions. Mining of tin ore is carried out by large tin mining companies. Furthermore, independent tin miners work in small groups to gather tin ore to supply to the local merchants.

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Tin is widely used in various applications such as soldering, tin plating, chemicals, brass & bronze, and others (including solar cells, lithium-ion batteries, and ammunitions). Tin is an essential component of solders, as it wets the base metal by alloying with it. Soldering is necessary to achieve a proper electronic connection that is durable and reliable. In terms of volume, the soldering segment held more than 50% share of the global tin market in 2014. Demand for tin is primarily driven by increasing demand for soldering alloys and soldering equipment in the electronics industry in emerging economies of Asia Pacific. Tin plating is expected to be the second-fastest growing segment during the forecast period. Tin plating is produced via electrodeposition of tin on steel from the aqueous solution of tin salt. Tin plating provides soft and corrosion resistant surface of pure tin metal. Growth in the food packaging market in emerging regions of Middle East & Africa and Asia Pacific is likely to boost the demand for tin plating in the near future.

Based on region, the global tin market has been segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Asia Pacific constituted above 65% share of the tin market in terms of volume in 2014. It was the largest market for tin, followed by Europe, North America, Latin America, and Middle East & Africa in 2014. The tin market in Asia Pacific experienced the fastest growth due to rising demand for electronics in emerging economies such as India and China. In terms of volume, the tin market in Europe is likely to experience sluggish growth during the forecast period due to ongoing Eurozone crisis, high unemployment and fragile consumer confidence.

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Expansion of the consumer electronics industry coupled with increasing demand in the food packaging industry is anticipated to drive the tin market during the forecast period. The electronics market is estimated to expand at a rapid pace in Asia Pacific due to increasing demand in emerging economies. Emerging economies in Asia Pacific are projected to be major markets for electronics due to growth in disposable income of people and rising consumer awareness about innovative technologies. However, increase in prices of tin owing to diminishing production from exhausting mines could hamper market growth.

The tin market is moderately fragmented; large and medium regional companies operate across the globe. Companies work closely with customers to develop products according to their specifications. Key players operating in the 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. Companies are using economies of scale and expanding into emerging economies in order to expand market share and remain competitive in the market.

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