India: Tin Market 2024

Tin Market Size in India

In 2022, the Indian tin market increased by 19% to $X, rising for the second year in a row after two years of decline. In general, consumption showed a prominent increase. Over the period under review, the market reached the maximum level in 2022 and is likely to see gradual growth in years to come.

Tin Production in India

In value terms, tin production reached $X in 2022 estimated in export price. Overall, production showed a deep reduction. The most prominent rate of growth was recorded in 2013 when the production volume increased by 235% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Tin Exports

Exports from India

In 2022, approx. X tons of tin were exported from India; which is down by -22% on the previous year's figure. In general, exports, however, saw a moderate increase. The pace of growth appeared the most rapid in 2013 when exports increased by 3,875%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, tin exports soared to $X in 2022. Over the period under review, exports, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 6,969% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X tons) was the main destination for tin exports from India, with a 70% share of total exports. Moreover, tin exports to Saudi Arabia exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), ninefold. The third position in this ranking was held by Kenya (X tons), with a 5.7% share.

From 2012 to 2022, the average annual growth rate of volume to Saudi Arabia amounted to +43.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-13.1% per year) and Kenya (+51.9% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for tin exports from India, comprising 72% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 8% share of total exports. It was followed by Kenya, with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Saudi Arabia amounted to +55.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-3.4% per year) and Kenya (+68.5% per year).

Export Prices by Country

The average tin export price stood at $X per ton in 2022, increasing by 59% against the previous year. Over the period under review, the export price saw a strong expansion. The pace of growth appeared the most rapid in 2013 an increase of 78% against the previous year. The export price peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to Nepal ($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 Singapore (+22.1%), while the prices for the other major destinations experienced more modest paces of growth.

Tin Imports

Imports into India

In 2022, purchases abroad of tin increased by 9.8% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +4.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 when imports increased by 25% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, tin imports soared to $X in 2022. In general, imports saw a remarkable increase. The growth pace was the most rapid in 2021 with an increase of 91%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest tin supplier to India, accounting for a 73% share of total imports. Moreover, tin imports from Indonesia exceeded the figures recorded by the second-largest supplier, Singapore (X tons), sixfold. Malaysia (X tons) ranked third in terms of total imports with a 9.6% share.

From 2012 to 2022, the average annual growth rate of volume from Indonesia amounted to +18.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+39.1% per year) and Malaysia (-13.1% per year).

In value terms, Indonesia ($X) constituted the largest supplier of tin to India, comprising 73% of total imports. The second position in the ranking was held by Singapore ($X), with a 13% share of total imports. It was followed by Malaysia, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Indonesia totaled +24.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+46.8% per year) and Malaysia (-7.7% per year).

Import Prices by Country

The average tin import price stood at $X per ton in 2022, growing by 12% against the previous year. In general, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +4.9% 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 +81.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 63% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Malaysia ($X per ton) and Singapore ($X per ton), while the price for Myanmar ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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