Market outlook of the tin market
Global tin market to grow at a moderate rate of around 2% during the forecast period. The increase in the lead acid battery usage is driving the growth of the market. Government regulations, especially in China, have forced the manufacturers to replace antimony and cadmium by tin to alter the grid alloy composition in lead acid batteries. The growth of the automotive industry is also contributing to the market growth of tin globally.
The depleting reserves globally is expected to deter the market growth during the forecast period. The average amount of tin present in the ores recovered from the major mining sites has been declining due to the depletion of richer deposits. Indonesia, China, and Peru, which have been the leading producers of tin, have been witnessing the reduction of tin deposits in the reserves.
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Segmentation by application and analysis of the tin market:
• Brass and bronze
Solder accounted for 51% of the global tin usage market during 2014. The research report estimates this segment to grow at a moderate rate of 2% during the forecast period. Solder is used in the electronics industry to fabricate circuitry of various equipment that have intricate electronic components embedded in a circuit board.
Geographical segmentation and analysis of the global tin market:
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APAC accounted for the around 75% of the market share during 2014 and is expected to lead the global market during the forecast period, growing at a rate of around 2%. The electronics industry’s strong presence in Japan and China is driving the growth of the market in this region. India is predicted to be an upcoming market during the forecast period.
Competitive landscape and key vendors
Most of the large producers of tin are based out of China, Indonesia, and other Southeast Asian countries. The market is dominated by vendors who have a strong base in these countries with an organized export network. Political conflicts and environmental regulations and trade limitations have resulted in developing barriers for the producers of tin in meeting the global demand to a great extent.
The key vendors in the market are:
• Malaysia Smelting
• PT Timah
• Yunnan Tin China
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