Belgium: Tin Market 2024

Tin Market Size in Belgium

The Belgian tin market skyrocketed to $X in 2022, with an increase of 88% against the previous year. Overall, consumption, however, showed a abrupt curtailment. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Tin Production in Belgium

In value terms, tin production dropped modestly to $X in 2022 estimated in export price. In general, production continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2017 with an increase of 34% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Tin Exports

Exports from Belgium

After two years of growth, overseas shipments of tin decreased by -20.5% to X tons in 2022. In general, total exports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +18.8% against 2019 indices. The growth pace was the most rapid in 2013 when exports increased by 76%. Over the period under review, the exports reached the maximum at X tons in 2021, and then contracted remarkably in the following year.

In value terms, tin exports declined notably to $X in 2022. Overall, exports, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2021 with an increase of 119%. As a result, the exports attained the peak of $X, and then contracted rapidly in the following year.

Exports by Country

Germany (X tons) was the main destination for tin exports from Belgium, accounting for a 46% share of total exports. Moreover, tin exports to Germany exceeded the volume sent to the second major destination, France (X tons), threefold. The Netherlands (X tons) ranked third in terms of total exports with an 8.8% share.

From 2012 to 2022, the average annual growth rate of volume to Germany totaled +10.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+13.2% per year) and the Netherlands (-8.7% per year).

In value terms, Germany ($X) remains the key foreign market for tin exports from Belgium, comprising 44% of total exports. The second position in the ranking was taken by France ($X), with a 16% share of total exports. It was followed by the Netherlands, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value to Germany totaled +14.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+18.2% per year) and the Netherlands (-4.8% per year).

Export Prices by Country

The average tin export price stood at $X per ton in 2022, increasing by 3.5% against the previous year. Over the period under review, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tin export price increased by +79.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 74%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+5.5%), while the prices for the other major destinations experienced more modest paces of growth.

Tin Imports

Imports into Belgium

In 2022, after two years of growth, there was significant decline in supplies from abroad of tin, when their volume decreased by -38.1% to X tons. Overall, imports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of 153%. Over the period under review, imports hit record highs at X tons in 2021, and then fell markedly in the following year.

In value terms, tin imports dropped markedly to $X in 2022. In general, imports, however, continue to indicate a prominent increase. The pace of growth was the most pronounced in 2021 with an increase of 290%. As a result, imports reached the peak of $X, and then declined rapidly in the following year.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest tin supplier to Belgium, with a 36% share of total imports. Moreover, tin imports from Indonesia exceeded the figures recorded by the second-largest supplier, Thailand (X tons), threefold. Poland (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia totaled +32.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+8.4% per year) and Poland (+16.7% per year).

In value terms, Indonesia ($X) constituted the largest supplier of tin to Belgium, comprising 38% of total imports. The second position in the ranking was taken by Thailand ($X), with a 15% share of total imports. It was followed by Bolivia, with a 9.5% share.

From 2012 to 2022, the average annual growth rate of value from Indonesia totaled +40.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+14.1% per year) and Bolivia (+1.2% per year).

Import Prices by Country

In 2022, the average tin import price amounted to $X per ton, rising by 23% against the previous year. In general, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tin import price increased by +98.5% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 61%. The import price peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+18.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :