Asia: Market for Tin Ores And Concentrates 2024

Market Size for Tin Ores And Concentrates in Asia

In 2022, the Asian tin ores and concentrates market increased by 9% to $X, rising for the third consecutive year after three years of decline. In general, consumption recorded a strong increase. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Production of Tin Ores And Concentrates in Asia

In value terms, tin ores and concentrates production declined to $X in 2022 estimated in export price. The total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +71.0% against 2017 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 46% against the previous year. Over the period under review, production attained the maximum level at $X in 2021, and then reduced in the following year.

Exports of Tin Ores And Concentrates

Exports in Asia

After two years of growth, shipments abroad of tin ores and concentrateses decreased by -10.2% to X tons in 2022. Overall, exports, however, continue to indicate a moderate expansion. The growth pace was the most rapid in 2014 when exports increased by 162% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, tin ores and concentrates exports fell significantly to $X in 2022. In general, exports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2014 when exports increased by 175%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Lao People's Democratic Republic (X tons) and Vietnam (X tons) represented the major exporters of tin ores and concentrateses in 2022, recording approx. 37% and 27% of total exports, respectively. It was distantly followed by Indonesia (X tons), generating a 15% share of total exports. The following exporters - Malaysia (X tons), China (X tons), Hong Kong SAR (X tons), Myanmar (X tons), South Korea (X tons) and Kyrgyzstan (X tons) - together made up 19% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by South Korea (with a CAGR of +51.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest tin ores and concentrates supplying countries in Asia were Lao People's Democratic Republic ($X), Vietnam ($X) and Indonesia ($X), with a combined 81% share of total exports.

Among the main exporting countries, Vietnam, with a CAGR of +75.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, reducing by -10% against the previous year. Export price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tin ores and concentrates export price increased by +51.6% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the export price increased by 35% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+20.3%), while the other leaders experienced more modest paces of growth.

Imports of Tin Ores And Concentrates

Imports in Asia

In 2022, purchases abroad of tin ores and concentrateses increased by 22% to X tons, rising for the second year in a row after four years of decline. In general, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 97% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, tin ores and concentrates imports skyrocketed to $X in 2022. Over the period under review, imports showed prominent growth. The pace of growth was the most pronounced in 2021 with an increase of 145% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

China prevails in imports structure, reaching X tons, which was near 88% of total imports in 2022. Thailand (X tons) held the second position in the ranking, followed by Malaysia (X tons). All these countries together held approx. 10% share of total imports.

Imports into China increased at an average annual rate of +21.8% from 2012 to 2022. At the same time, Thailand (+25.6%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia, with a CAGR of +25.6% from 2012-2022. By contrast, Malaysia (-6.3%) illustrated a downward trend over the same period. China (+34 p.p.) and Thailand (+3.1 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia saw its share reduced by -36.1% from 2012 to 2022, respectively.

In value terms, China ($X) constitutes the largest market for imported tin ores and concentrateses in Asia, comprising 78% of total imports. The second position in the ranking was taken by Thailand ($X), with a 12% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +27.8%. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (+37.5% per year) and Malaysia (-4.5% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, increasing by 6% against the previous year. In general, the import price enjoyed a modest expansion. The growth pace was the most rapid in 2021 when the import price increased by 96%. Over the period under review, import prices hit record highs in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+9.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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