South-Eastern Asia: Tin Market 2024

Tin Market Size in South-Eastern Asia

After two years of growth, the Southeast Asian tin market decreased by -7.2% to $X in 2022. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then declined in the following year.

Tin Production in South-Eastern Asia

In value terms, tin production declined to $X in 2022 estimated in export price. In general, production, however, saw a pronounced decline. The most prominent rate of growth was recorded in 2017 with an increase of 24%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Tin Exports

Exports in South-Eastern Asia

In 2022, overseas shipments of tin increased by 4.8% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports, however, saw a perceptible curtailment. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, tin exports surged to $X in 2022. Overall, exports enjoyed a measured increase. The growth pace was the most rapid in 2021 with an increase of 89% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

In 2022, Indonesia (X tons) was the main exporter of tin, creating 67% of total exports. Malaysia (X tons) ranks second in terms of the total exports with a 15% share, followed by Singapore (14%). Thailand (X tons) followed a long way behind the leaders.

Indonesia was also the fastest-growing in terms of the tin exports, with a CAGR of -2.4% from 2012 to 2022. Singapore (-5.5%), Malaysia (-7.1%) and Thailand (-13.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia increased by +13 percentage points.

In value terms, Indonesia ($X) remains the largest tin supplier in South-Eastern Asia, comprising 81% of total exports. The second position in the ranking was taken by Singapore ($X), with a 9.3% share of total exports. It was followed by Malaysia, with a 6.8% share.

In Indonesia, tin exports increased at an average annual rate of +8.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (-1.2% per year) and Malaysia (-6.9% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, surging by 51% against the previous year. In general, the export price recorded strong growth. The most prominent rate of growth was recorded in 2021 an increase of 83% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+10.9%), while the other leaders experienced more modest paces of growth.

Tin Imports

Imports in South-Eastern Asia

In 2022, the amount of tin imported in South-Eastern Asia dropped significantly to X tons, reducing by -16.9% compared with the previous year. Over the period under review, imports continue to indicate a pronounced descent. The most prominent rate of growth was recorded in 2021 with an increase of 155% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, tin imports shrank rapidly to $X in 2022. Overall, imports continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2021 with an increase of 121% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Singapore dominates imports structure, resulting at X tons, which was approx. 84% of total imports in 2022. It was distantly followed by Malaysia (X tons), constituting an 8.6% share of total imports. The following importers - Thailand (X tons) and the Philippines (X tons) - together made up 6% of total imports.

From 2012 to 2022, average annual rates of growth with regard to tin imports into Singapore stood at +2.7%. At the same time, the Philippines (+19.2%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +19.2% from 2012-2022. By contrast, Malaysia (-13.7%) and Thailand (-21.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Singapore and the Philippines increased by +41 and +1.6 percentage points, respectively.

In value terms, Singapore ($X) constitutes the largest market for imported tin in South-Eastern Asia, comprising 73% of total imports. The second position in the ranking was held by Malaysia ($X), with a 13% share of total imports. It was followed by Thailand, with a 6.8% share.

In Singapore, tin imports contracted by an average annual rate of -1.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (-12.9% per year) and Thailand (-20.1% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, remaining stable against the previous year. Overall, the import price recorded a noticeable decrease. The growth pace was the most rapid in 2017 an increase of 16% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Philippines ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+7.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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