Japan: Tin Market 2024

Tin Market Size in Japan

The Japanese tin market dropped modestly to $X in 2022, which is down by -4.8% against the previous year. In general, the total consumption indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +86.4% against 2020 indices. As a result, consumption attained the peak level of $X, and then contracted in the following year.

Tin Production in Japan

In value terms, tin production declined to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the production volume increased by 60%. Tin production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Tin Exports

Exports from Japan

In 2022, tin exports from Japan declined dramatically to X tons, which is down by -25.3% on 2021. In general, exports showed a noticeable curtailment. The growth pace was the most rapid in 2015 when exports increased by 59%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, tin exports fell notably to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 52% against the previous year. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for tin exports from Japan, with a 47% share of total exports. Moreover, tin exports to China exceeded the volume sent to the second major destination, Malaysia (X tons), fivefold. The third position in this ranking was taken by the Philippines (X tons), with a 9.6% share.

From 2012 to 2022, the average annual growth rate of volume to China stood at +12.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+6.8% per year) and the Philippines (-9.9% per year).

In value terms, China ($X), Malaysia ($X) and Thailand ($X) were the largest markets for tin exported from Japan worldwide, with a combined 55% share of total exports. The Philippines, South Korea, Vietnam, Hong Kong SAR, the Netherlands and Indonesia lagged somewhat behind, together accounting for a further 43%.

The Netherlands, with a CAGR of +76.7%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average tin export price stood at $X per ton in 2022, rising by 5.6% against the previous year. In general, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.8% 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 +56.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 48%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to China ($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 Taiwan (Chinese) (+19.2%), while the prices for the other major destinations experienced more modest paces of growth.

Tin Imports

Imports into Japan

In 2022, the amount of tin imported into Japan shrank to X tons, with a decrease of -12.7% on the previous year's figure. Over the period under review, imports continue to indicate a slight decrease. The growth pace was the most rapid in 2021 when imports increased by 40%. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, tin imports reduced to $X in 2022. Overall, total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +137.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 143%. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest supplier of tin to Japan, with a 42% share of total imports. Moreover, tin imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), twofold. Peru (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia amounted to -4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+7.7% per year) and Peru (+25.2% per year).

In value terms, the largest tin suppliers to Japan were Indonesia ($X), Malaysia ($X) and Peru ($X), together accounting for 76% of total imports.

Peru, with a CAGR of +28.6%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average tin import price amounted to $X per ton, surging by 12% against the previous year. In general, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +4.7% 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 +93.9% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by 73% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Malaysia ($X per ton) and Thailand ($X per ton), while the price for Peru ($X per ton) and China ($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 (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :