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World - Tin - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Nov 1, 2024

World - Tin - Market Analysis, Forecast, Size, Trends And Insights

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Jun 24, 2021

Prices on the Global Tin Market Soar on Robust Demand Recovery

IndexBox has just published a new report: 'World - Tin - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

Tin prices rose to record levels in response to high demand from the electronics industry and a severe supply shortage on the market. The deficit has been driven on by pandemic-related decreases in mining output in 2020, the shipping container crisis and a drop in exports due to supply-chain disruptions. Prices are forecast to fall only in 2022 thanks to ramped-up mining output and supply and demand returning to equilibrium.

Key Trends and Insights

The year 2020 was marked by an 8.8% decline in global output for tin because of pandemic quarantine measures and a drop in demand from its primary consumer -- the electronics industry. About half of tin produced in the world is used as a solder in electronics to assemble semiconductor microchips to printed circuit boards and other electronic devices.

All countries, except Russia, Congo and Nigeria, experienced a significant contraction in mining. In Indonesia, tin ore production fell by 15% y-o-y, in China by 4%, in Myanmar by 21% and in Peru by 9%.

In the first half of 2021, demand for tin used in electronics soared to record highs outpacing supply. In the U.S., Asia and the EU, a construction boom also bolstered growth in demand for the metal which is used in joining pipes. The use of tin-plated cans in the stabilizing food industry as well as in metal containers for petroleum products and lubricants contributed to the rise in demand.

The deficit in shipping containers caused delays in deliveries from Southeast Asia and Latin America while the pandemic spurred on a decline in unrefined tin exports from Indonesia. Both of these factors led to a shortage of tin on the global market. As a result, in just six months, prices for the metal grew 1.5 times on the London exchange from $20,540 per ton in December 2020 to $31,264 per ton in June 2021.

High prices for tin should incentivize mining activity to ramp up and gradually balance out supply and demand on the market. According to the World Bank, the average yearly price for tin in 2022 will decrease to $23,000 per ton and stabilize in the midterm.

Global Tin Production

In 2020, production of tin decreased by -6.4% to 359K tons, falling for the third year in a row after two years of growth. In value terms, tin production reduced to $5.2B in 2020 estimated in export prices.

The country with the largest volume of tin production was China (168K tons), comprising approx. 47% of total volume. Moreover, tin production in China exceeded the figures recorded by the second-largest producer, Indonesia (70K tons), twofold. The third position in this ranking was occupied by Peru (26K tons), with a 7.3% share.

Global Tin Imports

In 2020, overseas purchases of tin were finally on the rise to reach 198K tons (IndexBox estimates) after two years of decline. Overall, imports, however, showed a noticeable contraction. The growth pace was the most rapid in 2014 when imports increased by 5.7% y-o-y. Global imports peaked at 292K tons in 2007; however, from 2008 to 2020, imports failed to regain momentum.

In value terms, tin imports declined to $3.6B in 2020. In general, imports, however, recorded a slight decline. The pace of growth was the most pronounced in 2010 with an increase of 44% y-o-y. Global imports peaked at $7.1B in 2011; however, from 2012 to 2020, imports stood at a somewhat lower figure.

In 2020, the U.S. (31K tons), followed by Singapore (20K tons), Japan (19K tons), China (18K tons), Germany (16K tons), South Korea (14K tons), Taiwan (Chinese) (13K tons), India (9.8K tons) and Malaysia (9.5K tons) represented the largest importers of tin, together creating 76% of total imports. The Netherlands (6.3K tons), Spain (5.7K tons), Italy (4.4K tons) and France (4.4K tons) occupied a relatively small share of total imports.

In value terms, the U.S. ($540M), Singapore ($374M) and Malaysia ($368M) were the countries with the highest levels of imports in 2020, with a combined 36% share of global imports. These countries were followed by Japan, China, Germany, South Korea, India, Taiwan (Chinese), the Netherlands, Spain, Italy and France, which together accounted for a further 51%.

In 2020, the average tin import price amounted to $18,195 per ton, with a decrease of -9.7% against the previous year. From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Malaysia, while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global tin market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 24431330 - Unwrought non-alloy tin (excluding tin powders and flakes)

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Company coverage:

Yunnan Tin Company, PT Timah, Malaysia Smelting, Minsur, Yunnan Chengfeng Non-ferrous Metals, Thailand Smelting and Refining, Guangxi China Tin, Jiangxi New Nanshan, Metallo Chimique, Gejiu Zi-Li Metallurgy

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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