Tin - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)
The Tin Market size is estimated at 418.40 kilotons in 2024, and is expected to reach 475.46 kilotons by 2029, growing at a CAGR of 2.59% during the forecast period (2024-2029).
Key Highlights
Surging demand from the electric vehicle market and increasing applications in the electrical and electronics industry are expected to drive the market during the forecast period.
The presence of substitutes like aluminum and tin-free steel for producing metallic products like containers is hindering the market's growth.
Shifting focus toward recycling tin is expected to create opportunities for the market in the coming years.
Asia-Pacific is expected to dominate the market and witness the highest CAGR during the forecast period.
Tin Market Trends
The Electronic Segment to Dominate the Market Growth
Tin is used in the electronics industry as a solder and is often used in various purities and alloys, generally with lead and indium. About 50-70% of the overall tin produced is used in the electronics and electrical industry in various products, such as mobiles, tablets, computers, watches, clocks, and other consumer electronic devices.
For instance, according to the Japan Electronics and Information Technology Industries Association (JEITA), the global electronics and IT industry's production was estimated at USD 3,382.6 billion in 2023, registering a negative CAGR of 3% Y-o-Y compared to 2022. However, in 2024, it is expected to grow by 9% and reach USD 3,686.8 billion.
Globally, smartphone demand is increasing significantly. According to TelefonaktiebolagetLM Ericsson, smartphone subscriptions accounted for 6,970 million in 2023, an increase of about 5.3% compared to 2022. Also, the subscription will reach 8,060 million by 2029, enhancing tin consumption from electronics applications.
Also, the demand for electronics products in Asia-Pacific mainly comes from China, India, and Japan. China is a robust and favorable market for electronics producers, owing to the country's low labor cost and flexible policies. According to the National Bureau of Statistics of China, the annual growth rate of value added in the electronics manufacturing industry in the country increased by 3.4% Y-o-Y in 2023.
The German electronics industry in Europe is the largest in the region. According to the ZVEI, Germany's electro and digital industry turnover accounted for EUR 242 billion (USD 261.94 billion) in 2023, witnessing a CAGR of 7.56% compared to 2022. Also, in terms of production, the electro and digital industries registered a CAGR of 1.4% in 2022 compared to 2021.
Hence, due to the factors mentioned above, the use of tin is increasing in the electronics industry.
Asia-Pacific to Dominate the Market
Asia-Pacific has dominated the tin market. China is one of the largest producers and consumers of tin globally.
The automotive industry, one of the major contributors to the tin market and the automotive sector, has been shaping up for product evolution. China is focusing on manufacturing products to ensure fuel economy and minimize emissions owing to the growing environmental concerns due to mounting pollution in the country.
Tin, along with other metals, is used in numerous automotive applications, including fuel tanks, sealants, wiring, radiator, seat cushions, seams and welds, fasteners, screws, nuts, bolts, and roofing.
Asia-Pacific is home to some of the world's most valuable vehicle manufacturers. Developing countries such as China, India, Japan, and South Korea have been working hard to strengthen the manufacturing base and develop efficient supply chains for greater profitability.
China remains the world's largest automotive market in annual sales and manufacturing output. According to OICA, vehicle production in China reached a total of 30.16 million units in 2023, a double-digit increase of 16% annually.
According to the Society of Indian Automobile Manufacturers (SIAM), in FY 2022-2023 (April 2022 to March 2023), the country's automotive industry produced a total of 2,59,31,867, an increase of about 12.55% compared to FY 2021-2022. As per OICA, the country registered a record increase of 33% in vehicle production in 2023 compared to 2022.
In addition, the other major end-user industries for tin include electrical and electronics, heavy engineering, and packaging. China's information and communication technology (ICT) sector has grown rapidly in the past decade, owing to the government's support and favorable digitization plans and policies.
Therefore, due to all such factors, the market for tin in the region is expected to have steady growth during the forecast period.
Tin Industry Overview
The Tin market is highly consolidated. The major players (not in any particular order) include YUNNAN TIN COMPANY GROUP LIMITED, Timah, MINSUR, Malaysia Smelting Corporation Berhad, and Yunnan Chengfeng Nonferrous Metals Co. Ltd.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Key Highlights
Surging demand from the electric vehicle market and increasing applications in the electrical and electronics industry are expected to drive the market during the forecast period.
The presence of substitutes like aluminum and tin-free steel for producing metallic products like containers is hindering the market's growth.
Shifting focus toward recycling tin is expected to create opportunities for the market in the coming years.
Asia-Pacific is expected to dominate the market and witness the highest CAGR during the forecast period.
Tin Market Trends
The Electronic Segment to Dominate the Market Growth
Tin is used in the electronics industry as a solder and is often used in various purities and alloys, generally with lead and indium. About 50-70% of the overall tin produced is used in the electronics and electrical industry in various products, such as mobiles, tablets, computers, watches, clocks, and other consumer electronic devices.
For instance, according to the Japan Electronics and Information Technology Industries Association (JEITA), the global electronics and IT industry's production was estimated at USD 3,382.6 billion in 2023, registering a negative CAGR of 3% Y-o-Y compared to 2022. However, in 2024, it is expected to grow by 9% and reach USD 3,686.8 billion.
Globally, smartphone demand is increasing significantly. According to TelefonaktiebolagetLM Ericsson, smartphone subscriptions accounted for 6,970 million in 2023, an increase of about 5.3% compared to 2022. Also, the subscription will reach 8,060 million by 2029, enhancing tin consumption from electronics applications.
Also, the demand for electronics products in Asia-Pacific mainly comes from China, India, and Japan. China is a robust and favorable market for electronics producers, owing to the country's low labor cost and flexible policies. According to the National Bureau of Statistics of China, the annual growth rate of value added in the electronics manufacturing industry in the country increased by 3.4% Y-o-Y in 2023.
The German electronics industry in Europe is the largest in the region. According to the ZVEI, Germany's electro and digital industry turnover accounted for EUR 242 billion (USD 261.94 billion) in 2023, witnessing a CAGR of 7.56% compared to 2022. Also, in terms of production, the electro and digital industries registered a CAGR of 1.4% in 2022 compared to 2021.
Hence, due to the factors mentioned above, the use of tin is increasing in the electronics industry.
Asia-Pacific to Dominate the Market
Asia-Pacific has dominated the tin market. China is one of the largest producers and consumers of tin globally.
The automotive industry, one of the major contributors to the tin market and the automotive sector, has been shaping up for product evolution. China is focusing on manufacturing products to ensure fuel economy and minimize emissions owing to the growing environmental concerns due to mounting pollution in the country.
Tin, along with other metals, is used in numerous automotive applications, including fuel tanks, sealants, wiring, radiator, seat cushions, seams and welds, fasteners, screws, nuts, bolts, and roofing.
Asia-Pacific is home to some of the world's most valuable vehicle manufacturers. Developing countries such as China, India, Japan, and South Korea have been working hard to strengthen the manufacturing base and develop efficient supply chains for greater profitability.
China remains the world's largest automotive market in annual sales and manufacturing output. According to OICA, vehicle production in China reached a total of 30.16 million units in 2023, a double-digit increase of 16% annually.
According to the Society of Indian Automobile Manufacturers (SIAM), in FY 2022-2023 (April 2022 to March 2023), the country's automotive industry produced a total of 2,59,31,867, an increase of about 12.55% compared to FY 2021-2022. As per OICA, the country registered a record increase of 33% in vehicle production in 2023 compared to 2022.
In addition, the other major end-user industries for tin include electrical and electronics, heavy engineering, and packaging. China's information and communication technology (ICT) sector has grown rapidly in the past decade, owing to the government's support and favorable digitization plans and policies.
Therefore, due to all such factors, the market for tin in the region is expected to have steady growth during the forecast period.
Tin Industry Overview
The Tin market is highly consolidated. The major players (not in any particular order) include YUNNAN TIN COMPANY GROUP LIMITED, Timah, MINSUR, Malaysia Smelting Corporation Berhad, and Yunnan Chengfeng Nonferrous Metals Co. Ltd.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Surging Demand from the Electric Vehicle Market
4.1.2 Increasing Applications in the Electrical and the Electronics Industry
4.1.3 Other Drivers
4.2 Restraints
4.2.1 Presence of Subsitutes
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
4.5 Price Analysis
5 MARKET SEGMENTATION (MARKET SIZE BY VOLUME)
5.1 Product Type
5.1.1 Metal
5.1.2 Alloy
5.1.3 Compounds
5.2 Application
5.2.1 Solder
5.2.2 Tin Plating
5.2.3 Chemicals
5.2.4 Other Applications (Specialized Alloys and Lead-acid Batteries)
5.3 End-user Industry
5.3.1 Automotive
5.3.2 Electronics
5.3.3 Packaging (Food and Beverage)
5.3.4 Glass
5.3.5 Other End-user Industries (Chemical, Tool Making, Medical Devices)
5.4 Geography
5.4.1 Production Analysis
5.4.1.1 Australia
5.4.1.2 Bolivia
5.4.1.3 Brazil
5.4.1.4 Burma
5.4.1.5 China
5.4.1.6 Congo (Kinshasa)
5.4.1.7 Indonesia
5.4.1.8 Malaysia
5.4.1.9 Peru
5.4.1.10 Vietnam
5.4.1.11 Other Countries
5.4.2 Consumption Analysis
5.4.2.1 Asia-Pacific
5.4.2.1.1 China
5.4.2.1.2 India
5.4.2.1.3 Japan
5.4.2.1.4 South Korea
5.4.2.1.5 Rest of Asia-Pacific
5.4.2.2 North America
5.4.2.2.1 United States
5.4.2.2.2 Canada
5.4.2.2.3 Mexico
5.4.2.3 Europe
5.4.2.3.1 Germany
5.4.2.3.2 United Kingdom
5.4.2.3.3 Italy
5.4.2.3.4 France
5.4.2.3.5 Austria
5.4.2.3.6 Rest of Europe
5.4.2.4 South America
5.4.2.4.1 Brazil
5.4.2.4.2 Argentina
5.4.2.4.3 Rest of South America
5.4.2.5 Middle East and Africa
5.4.2.5.1 South Africa
5.4.2.5.2 United Arab Emirates
5.4.2.5.3 Rest of Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 ArcelorMittal
6.4.2 Aurubis AG
6.4.3 Avalon Advanced Materials Inc.
6.4.4 Indium Corporation
6.4.5 Jiangxi New Nanshan Technology Co. Ltd
6.4.6 Malaysia Smelting Corporation Berhad
6.4.7 MINSUR
6.4.8 Thailand Smelting and Refining Co. Ltd
6.4.9 Timah
6.4.10 Yunnan Chengfeng Non-ferrous Metals Co. Ltd
6.4.11 YUNNAN TIN COMPANY GROUP LIMITED
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Shifting Focus toward Recycling of Tin
7.2 Other Opportunities
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Surging Demand from the Electric Vehicle Market
4.1.2 Increasing Applications in the Electrical and the Electronics Industry
4.1.3 Other Drivers
4.2 Restraints
4.2.1 Presence of Subsitutes
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
4.5 Price Analysis
5 MARKET SEGMENTATION (MARKET SIZE BY VOLUME)
5.1 Product Type
5.1.1 Metal
5.1.2 Alloy
5.1.3 Compounds
5.2 Application
5.2.1 Solder
5.2.2 Tin Plating
5.2.3 Chemicals
5.2.4 Other Applications (Specialized Alloys and Lead-acid Batteries)
5.3 End-user Industry
5.3.1 Automotive
5.3.2 Electronics
5.3.3 Packaging (Food and Beverage)
5.3.4 Glass
5.3.5 Other End-user Industries (Chemical, Tool Making, Medical Devices)
5.4 Geography
5.4.1 Production Analysis
5.4.1.1 Australia
5.4.1.2 Bolivia
5.4.1.3 Brazil
5.4.1.4 Burma
5.4.1.5 China
5.4.1.6 Congo (Kinshasa)
5.4.1.7 Indonesia
5.4.1.8 Malaysia
5.4.1.9 Peru
5.4.1.10 Vietnam
5.4.1.11 Other Countries
5.4.2 Consumption Analysis
5.4.2.1 Asia-Pacific
5.4.2.1.1 China
5.4.2.1.2 India
5.4.2.1.3 Japan
5.4.2.1.4 South Korea
5.4.2.1.5 Rest of Asia-Pacific
5.4.2.2 North America
5.4.2.2.1 United States
5.4.2.2.2 Canada
5.4.2.2.3 Mexico
5.4.2.3 Europe
5.4.2.3.1 Germany
5.4.2.3.2 United Kingdom
5.4.2.3.3 Italy
5.4.2.3.4 France
5.4.2.3.5 Austria
5.4.2.3.6 Rest of Europe
5.4.2.4 South America
5.4.2.4.1 Brazil
5.4.2.4.2 Argentina
5.4.2.4.3 Rest of South America
5.4.2.5 Middle East and Africa
5.4.2.5.1 South Africa
5.4.2.5.2 United Arab Emirates
5.4.2.5.3 Rest of Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 ArcelorMittal
6.4.2 Aurubis AG
6.4.3 Avalon Advanced Materials Inc.
6.4.4 Indium Corporation
6.4.5 Jiangxi New Nanshan Technology Co. Ltd
6.4.6 Malaysia Smelting Corporation Berhad
6.4.7 MINSUR
6.4.8 Thailand Smelting and Refining Co. Ltd
6.4.9 Timah
6.4.10 Yunnan Chengfeng Non-ferrous Metals Co. Ltd
6.4.11 YUNNAN TIN COMPANY GROUP LIMITED
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Shifting Focus toward Recycling of Tin
7.2 Other Opportunities
