The global tin market valued at 350.74 kilo metric ton in 2017, is expected to witness a CAGR of 2.22%
during the forecast period, 2018 to 2023. In 2018, in terms of volume, Asia-Pacific is poised to dominate
the global market, and is expected to witness the highest CAGR during the forecast period. The
continuously growing demand from China in various end-user industries, primarily electronics, is
boosting the demand for tin in the Asia-Pacific region at a healthy pace.
Increasing Demand from Electronics Industry
The major end-user application of tin in the electronics industry is as a solder. Tin is often used in
various purities and alloys, generally with lead and indium. Soldering is one of the potential end-user
applications in the electronics industry. About 50% to 70% of the overall tin produced is used in the
electronics & electrical industry in various products, such as mobiles, tablets, computers, and other
consumer electronic devices. Additionally, according to JEITA, semiconductor manufacturing was
estimated to have registered the fastest growth of 21% in 2016, while in 2018, it is forecasted to rise by
7%. Such positive growth in the electronics manufacturing industry is expected to drive the market for
tin through the forecast period.
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Tin Plating to be the Fastest-growing Application
Tin plating is an electrolytic process. It is done primarily for the purpose of providing a level of
protection or corrosion resistance to a wide range of products. Tin is generally applied over a
preliminary coating of copper. Due to its characteristics, such as lightweight, white metal, durable,
malleable, good tensile strength, resistance to corrosion, non-toxic, high solderability, ductile, etc., tin is
used as plating in metals and alloys, by either dipping or electroplating. China is one of the largest
consumers and producers of tin and tin plating. Therefore, it will augment the usage of tin in the
application of tin plating.
China to be the Dominating Market
China was the largest producer and consumer of tin in 2017. The automotive industry, being one of the
major contributors in the tin market, has grown rapidly in the past five years. However, the Chinese
automotive industry remains fragmented. This scenario is likely to have a positive impact on the tin
demand from the Chinese automotive sector. In addition, Chinese central government officials fear the
unchecked expansion of China's auto industry, encouraged by local authorities, could harm the wider
economy and that excess capacity must be stopped. Hence, the central government continues to push
for mergers and acquisitions (M&A) in the automotive industry, which will support the emergence of a
few leading national companies. The other major end-user industries for tin include electrical &
electronics, heavy engineering, packaging, etc. Chinas information & communication technology (ICT)
sector has grown at a rapid pace in the past decade, owing to the support of the Chinese government
and favorable digitization plans and policies.
Key Developments in the Market