Tin

Tin

Global Tin Market to Reach 481.9 Thousand Tons by 2030

The global market for Tin estimated at 384.8 Thousand Tons in the year 2023, is expected to reach 481.9 Thousand Tons by 2030, growing at a CAGR of 3.3% over the analysis period 2023-2030. Soldering Application, one of the segments analyzed in the report, is expected to record a 3.8% CAGR and reach 240.2 Thousand Tons by the end of the analysis period. Growth in the Chemicals Application segment is estimated at 3.2% CAGR over the analysis period.

The U.S. Market is Estimated at 103.3 Thousand Tons While China is Forecast to Grow at 4.7% CAGR

The Tin market in the U.S. is estimated at 103.3 Thousand Tons in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of 94.2 Thousand Tons by the year 2030 trailing a CAGR of 4.7% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.5% and 2.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.7% CAGR.

Global Tin Market - Key Trends and Drivers Summarized

Tin is a soft, silvery-white metal that is not easily oxidized in air and resists corrosion from water. It is used mainly in alloys, with the most common application being in solder, particularly for joining pipes and electronic circuits. Tin is also a component in the manufacturing of glass as it allows glass to be blown or pressed into elaborate shapes by making it softer and more ductile. Additionally, tin compounds are used in the production of ceramics and plastics as stabilizers. The primary growth driver for tin currently is its critical role in the electronics industry, especially due to its use in solders. The global electronics market continues to expand rapidly, driven by advancements in technology and an increasing demand for consumer electronics such as smartphones, laptops, and other digital devices. As these devices become more complex and integrated, the requirement for reliable soldering materials increases, thus pushing up the demand for tin. Moreover, the shift towards lead-free solders due to environmental concerns has further propelled the use of tin as a primary component in these solders, underlining its importance in sustainable manufacturing practices.

Another major trend influencing the tin market is the growth in the renewable energy sector, particularly in solar energy. Tin is utilized in the production of transparent conductive oxides used in photovoltaic (PV) solar cells. As countries and companies invest more in renewable sources to achieve carbon neutrality, the demand for materials involved in solar panel production is expected to rise, thereby boosting the market for tin. Furthermore, the development of energy storage systems, including batteries where tin is used as an anode material, highlights another avenue of growth, driven by the global push towards energy efficiency and storage solutions.

The recycling of tin is emerging as a significant trend due to growing environmental awareness and technological advancements in recycling processes. Recycling not only provides a secondary stream of tin, reducing the reliance on mined ore but also aligns with global efforts towards sustainability. The increased efficiency of recycling processes helps in maintaining a stable supply chain for tin, which is crucial as demand grows. These recycling practices, combined with stringent environmental regulations, are likely to influence the tin market positively by promoting sustainable and responsible usage and production.

Select Competitors (Total 248 Featured) -

• ArcelorMittal USA
• Ball Corporation
• Baosteel Group Corporation
• Belmont Metals, Inc.
• JFE Steel Corporation
• Malaysia Smelting Corporation Berhad
• Metallo-Chimique N.V.
• Paranapanema SA
• PT TIMAH Tbk
• Steel Authority of India Ltd. (SAIL)
• Thailand Smelting and Refining Co., Ltd. (Thaisarco)
• Yunnan Chengfeng Nonferrous Metals Co., Ltd.
• Yunnan Tin Company Group Limited

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