The global tin market is estimated to grow steadily in the following years, riding high on the growing demand from emerging economies, particularly from the electronics industry. Since the segment looks promising, industry experts have estimated that the market would grow at a rate of 9.1% per annum in the forecast period between 2014 and 2018. The market comprises various product segments, with unwrought tin accounting for 76.5% of the world’s market share. Other categories include tin flakes, foil and powder which accounts for 1.7% of the market, tin bars, rods, wire and profile for 17.3%, tin fittings, tubes and pipes for 0.1% and alloyed unwrought tin for 3.8% of the global market size.
This report: Global Tin Market to 2018 - Market Size, Top 10 Countries, Trends, and Forecasts discusses the current market scenario, key market drivers and trends. It also provides detailed insight on the overall market outlook and dominant market players of the industry, highlighting the scope of the current market.
The demand for tin has been increasing over the years due to its utilization in numerous industrial applications including solder alloy in electrical goods and electronics, which accounts for 50% of the consumption of this metal. Moreover, with tin being utilized in several new avenues like solar cells, lithium-ion batteries, new fuel chemical technologies, etc., the usage of tin is expected to expand at a faster pace in the next few years. China, Indonesia, United States, Japan and Malaysia have been the most significantly growing regions of the market, while Italy, Turkey, Denmark, Slovakia and Greece are estimated to emerge major players in the near future.
However, despite the growth of the sector, tin market analysis reveals that the sector will face a decline starting 2014. It is predicted that the segment would witness decline in production levels, especially in the markets of China and Indonesia. The rising production costs in China, lack of new mine supply and new rules in Indonesia which have compelled the shutdown of tin mines, have been attributed as the key reasons for the speculated reduction in tin production. This reduction in production, coupled with the continued strong global demand for tin is expected to affect the market significantly, eventually creating a price hike.
While tin companies like PT Tambang Timah have earned substantial profits in the last few years, certain organizations like Malaysia Smelting Corp’s PT Koba Tin’s production has been declining. In order to improve tin production, PT Timah, the largest tin miner of Indonesia, decided to restore the tin mines of PT Koba Tin in 2014, after obtaining approval from the local government.
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