Tin Market at an estimated CAGR of 2.12%

Reports And Markets Publish a New Market Research Report On –"Tin Market - Segmented by Applications, End-user Industry, and Geography - Trends and Forecasts (2017 - 2022)"

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The global tin market is estimated to value 378.38 thousand metric tons in 2016. The market is projected to reach 420.27 thousand metric tons by 2021, at an estimated CAGR of 2.12% during the forecast period 2016-2021. Tin is a silver-colored malleable metal, which cannot be easily oxidized in the air. It is used in the form of metals, compound and alloys. Tin is primarily obtained from mineral cassiterite in the form of tin oxide.

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The global tin market has been experiencing a deficit for about six out of the past ten years. The consumption and production gaps in the market usually have been limited to approximately 4% of the total market. However, it has been anticipated by the world organizations that the global tin market may witness a YoY growth of about 1.7% in the coming years.

Tin, owing to its corrosion-resistant properties and low-toxic nature, is becoming an integral part of various commercial and industrial sectors. In the global tin market report, we have considered the following major applications:

Solder
Tin Plating
Specialized Alloys
Float Glass
Canned Food and Beverages
PVC Stabilizer
Others

The solder segment is estimated to account 46.91% of the global tin market in 2016. This market is driven by a number of factors, such as a steady growth in the demand for electronics, especially in Asia-Pacific countries, such as India and China, and growing demand for canned food and beverages. However, this market faces certain drawbacks, such as increasing usage of aluminum as a substitute for tin, miniaturization of electronic products and supply glut because of the declining demand from China. The aforementioned factors may act as a roadblock to the growth of the market.

The market has been segmented based on both production and consumption into different geographical areas. In terms of production, the market has been divided into Australia, China, Bolivia, Democratic Republic of Congo, Indonesia, Myanmar, Malaysia, Peru, Russia, Thailand, Vietnam, Brazil and Others. China is the leading producer of tin market. The countrys large tin reserves and restrictive export policies (enacted by its government) have made it the leading consumer. Consequently, it is expected to become self-sufficient regarding tin in the coming years.

The shifting focus toward substituting lead with tin in ammunition, rising demand for lead-free solders, a wide range of niche applications and enactment of legislations to restrict illegal trade are expected to offer numerous opportunities for the growth of the global tin market.

Some of the major companies dominating this market are Avalon Rare Metals, PT Timah, Minsur SA, Malaysia Smelting Corp., Metallo Chimique, Yunnan Chengfeng Non-Ferrous Metals Co. Ltd. and Yunnan Tin Co. Ltd

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