Thailand: Tin Market 2024

Tin Market Size in Thailand

The Thai tin market was finally on the rise to reach $X in 2022, after five years of decline. Over the period under review, consumption, however, showed a deep slump. Tin consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Tin Production in Thailand

In value terms, tin production reduced slightly to $X in 2022 estimated in export price. In general, production saw a abrupt decline. The most prominent rate of growth was recorded in 2016 with an increase of 14%. Tin production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Tin Exports

Exports from Thailand

In 2022, overseas shipments of tin decreased by -29.8% to X tons, falling for the second year in a row after three years of growth. Overall, exports showed a deep slump. The pace of growth appeared the most rapid in 2020 with an increase of 14% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, tin exports shrank remarkably to $X in 2022. In general, exports faced a abrupt contraction. The most prominent rate of growth was recorded in 2021 with an increase of 69%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons), the Netherlands (X tons) and South Korea (X tons) were the main destinations of tin exports from Thailand, with a combined 70% share of total exports. Taiwan (Chinese), Belgium, Bangladesh and the United States lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of +33.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tin exported from Thailand were Japan ($X), the Netherlands ($X) and South Korea ($X), with a combined 71% share of total exports. Taiwan (Chinese), Bangladesh, Belgium and the United States lagged somewhat behind, together comprising a further 24%.

Bangladesh, with a CAGR of +36.3%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

In 2022, the average tin export price amounted to $X per ton, reducing by -11.4% against the previous year. Over the period under review, export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.3% 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 +60.8% against 2020 indices. The growth pace was the most rapid in 2021 when the average export price increased by 82% against the previous year. As a result, the export price reached the peak level of $X per ton, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bangladesh ($X per ton), while the average price for exports to the United States ($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 South Korea (+2.7%), while the prices for the other major destinations experienced more modest paces of growth.

Tin Imports

Imports into Thailand

In 2022, supplies from abroad of tin increased by 89% to X tons for the first time since 2016, thus ending a five-year declining trend. In general, imports, however, showed a dramatic decline. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, tin imports soared to $X in 2022. Over the period under review, imports, however, showed a precipitous descent. The most prominent rate of growth was recorded in 2016 with an increase of 74% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest supplier of tin to Thailand, with a 61% share of total imports. Moreover, tin imports from Malaysia exceeded the figures recorded by the second-largest supplier, the Philippines (X tons), fourfold. Indonesia (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from Malaysia totaled +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+428.1% per year) and Indonesia (-34.9% per year).

In value terms, Malaysia ($X) constituted the largest supplier of tin to Thailand, comprising 51% of total imports. The second position in the ranking was held by the Philippines ($X), with an 18% share of total imports. It was followed by Indonesia, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Malaysia amounted to +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+352.9% per year) and Indonesia (-32.8% per year).

Import Prices by Country

The average tin import price stood at $X per ton in 2022, dropping by -16.4% against the previous year. In general, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.1% 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 +32.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 59%. As a result, import price attained the peak level of $X per ton, and then fell significantly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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