Asia-Pacific: Tin Market 2024

Tin Market Size in Asia-Pacific

In 2022, the Asia-Pacific tin market increased by 1.3% to $X, rising for the fourth year in a row after two years of decline. Overall, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Tin Production in Asia-Pacific

In value terms, tin production rose to $X in 2022 estimated in export price. In general, production, however, recorded a noticeable contraction. The most prominent rate of growth was recorded in 2016 when the production volume increased by 14% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Tin Exports

Exports in Asia-Pacific

In 2022, tin exports in Asia-Pacific declined to X tons, waning by -2.7% compared with 2021 figures. In general, exports saw a perceptible shrinkage. The growth pace was the most rapid in 2021 with an increase of 17% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, tin exports surged to $X in 2022. Over the period under review, exports, however, posted temperate growth. The pace of growth was the most pronounced in 2021 with an increase of 112%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

Indonesia represented the key exporting country with an export of about X tons, which resulted at 59% of total exports. Malaysia (X tons) took the second position in the ranking, followed by Singapore (X tons) and China (X tons). All these countries together took near 33% share of total exports. The following exporters - Thailand (X tons) and Taiwan (Chinese) (X tons) - each amounted to a 5.9% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to tin exports from Indonesia stood at -2.4%. At the same time, China (+20.0%) and Taiwan (Chinese) (+2.6%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +20.0% from 2012-2022. By contrast, Singapore (-5.5%), Malaysia (-7.1%) and Thailand (-13.1%) illustrated a downward trend over the same period. While the share of China (+7.2 p.p.) and Indonesia (+7.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Singapore (-2.5 p.p.), Malaysia (-5.7 p.p.) and Thailand (-6.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) remains the largest tin supplier in Asia-Pacific, comprising 75% of total exports. The second position in the ranking was taken by Singapore ($X), with an 8.6% share of total exports. It was followed by Malaysia, with a 6.3% share.

From 2012 to 2022, the average annual growth rate of value in Indonesia amounted to +8.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (-1.2% per year) and Malaysia (-6.9% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, jumping by 47% against the previous year. In general, the export price saw resilient growth. The pace of growth appeared the most rapid in 2021 when the export price increased by 81%. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+10.9%), while the other leaders experienced more modest paces of growth.

Tin Imports

Imports in Asia-Pacific

In 2022, after two years of growth, there was significant decline in purchases abroad of tin, when their volume decreased by -12.7% to X tons. Over the period under review, imports showed a pronounced reduction. The most prominent rate of growth was recorded in 2021 with an increase of 34% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, tin imports contracted to $X in 2022. In general, imports saw a mild downturn. The most prominent rate of growth was recorded in 2021 with an increase of 82% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Singapore (X tons) and Japan (X tons) represented roughly 53% of total imports in 2022. South Korea (X tons) took a 12% share (based on physical terms) of total imports, which put it in second place, followed by India (12%) and Taiwan (Chinese) (8.5%). The following importers - China (X tons) and Malaysia (X tons) - together made up 7.3% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by India (with a CAGR of +4.7%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Japan ($X), South Korea ($X) and Singapore ($X) were the countries with the highest levels of imports in 2022, together comprising 62% of total imports. India, Taiwan (Chinese), China and Malaysia lagged somewhat behind, together accounting for a further 31%.

In terms of the main importing countries, India, with a CAGR of +9.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, picking up by 6.4% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The pace of growth was the most pronounced in 2021 when the import price increased by 37% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+5.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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