India: Tin Bar Market 2024

Tin Bar Market Size in India

The Indian tin bar market was estimated at $X in 2022, approximately equating the previous year. The market value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Tin Bar Production in India

In value terms, tin bar production declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 16%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Tin Bar Exports

Exports from India

After two years of growth, overseas shipments of tin bars, rods, profiles and wires decreased by -38.3% to X tons in 2022. Overall, exports, however, recorded a strong increase. The pace of growth appeared the most rapid in 2016 with an increase of 124% against the previous year. The exports peaked at X tons in 2021, and then contracted markedly in the following year.

In value terms, tin bar exports reduced notably to $X in 2022. Over the period under review, exports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2016 when exports increased by 117% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then shrank markedly in the following year.

Exports by Country

The United Arab Emirates (X tons), Belgium (X tons) and Singapore (X tons) were the main destinations of tin bar exports from India, with a combined 74% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +825.1%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the key foreign market for tin bars, rods, profiles and wires exports from India, comprising 43% of total exports. The second position in the ranking was held by Singapore ($X), with a 14% share of total exports. It was followed by Belgium, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates amounted to +83.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+87.5% per year) and Belgium (+613.6% per year).

Export Prices by Country

In 2022, the average tin bar export price amounted to $X per ton, rising by 36% against the previous year. In general, export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tin bar export price increased by +55.5% against 2020 indices. The pace of growth was the most pronounced in 2013 an increase of 78%. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to Belgium ($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 Oman (+53.6%), while the prices for the other major destinations experienced more modest paces of growth.

Tin Bar Imports

Imports into India

In 2022, supplies from abroad of tin bars, rods, profiles and wires increased by 29% to X tons, rising for the second consecutive year after two years of decline. Overall, imports enjoyed resilient growth. The most prominent rate of growth was recorded in 2016 when imports increased by 32%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, tin bar imports skyrocketed to $X in 2022. In general, imports showed prominent growth. The pace of growth was the most pronounced in 2021 with an increase of 98% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Indonesia (X tons), China (X tons) and Malaysia (X tons) were the main suppliers of tin bar imports to India, together comprising 67% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +23.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), South Korea ($X) and Indonesia ($X) were the largest tin bar suppliers to India, together comprising 61% of total imports.

In terms of the main suppliers, Malaysia, with a CAGR of +34.1%, recorded 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 average tin bar import price stood at $X per ton in 2022, surging by 14% against the previous year. In general, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tin bar import price increased by +75.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 54%. 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 South Korea ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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