Tin Market - Global Industry Analysis, Size, Share, Growth, Trends 2023 | TMR
The
consolidated global tin market is dominated by three leading companies,
namely Malaysia Smelting Corporation, Yunnan Tin Group Company Ltd.,
and PT Timah (Perseo) Tbk. These three companies collectively account
for a stable majority share in the global tin market and are likely to
retain their dominance through the forecast period. The other half of
the global tin market, though, is relatively fragmented, with several
regional and application-specific dealers occupying key shares.
According to Transparency Market Research (TMR), Yunnan Tin Group
Company Ltd. was the largest company in the global tin market in 2014 in
terms of revenue. By production, Malaysia Smelting Corporation beat
Yunnan Tin Group Company Ltd. to the top spot and is likely to remain
the leader in tin production in the coming years.
The
global tin market is expected to exhibit steady growth in the coming
years. Nevertheless, the impact of key restraints such as the rising
scarcity of raw material could destabilize the global tin market.
According to TMR, the global tin market is likely to rise to a valuation
of US$7.3 bn by 2023, expanding at a moderate CAGR of 3.4% and 2.5% by
revenue and volume, respectively.
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128 page report gives readers a comprehensive overview of the Tin
Market . Browse through to unlock the hidden opportunities in this
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Asia Pacific Likely to Retain Strong Dominance over Global Tin Market
The
presence of large tin ore mines in Asia Pacific has strengthened the
region’s position in the global tin market and is likely to ensure
steady growth of the regional tin market in the coming years. Southeast
Asian countries such as China and Malaysia are likely to remain among
the leading producers of tin in the global market. The Asia Pacific tin
market is expected to account for more than two-thirds of the global tin
market in the coming years. Latin America is also likely to feature
prominently in the global tin market in the coming years due to the
rising demand for tin from the region’s developing countries. The rapid
urbanization in countries such as Mexico, Brazil, and Argentina is thus
likely to be a major driver for the global tin market.
On
the other hand, the global tin market faces a key roadblock in the form
of the declining levels of ore in tin mines across the world. Due to
consistent tin mining in major producers, several large mines are on the
way of exhaustion. The Latin America tin market is among the most badly
hit by this concern.
Booming Consumer Electronics, Food and Beverage Industry Crucial for Global Tin Market
The
global tin market derives a major share in its revenue from the
consumer electronics and food and beverage industries. In the case of
the latter, the demand from the global tin market has been propelled
primarily by the rising demand for packaged food, which has led to a
rising demand for tin foil and other packaging materials. The rising
demand for packaged food from urban centers across the world is likely
to make this an influential driver for the global tin market, with the
Asia Pacific tin market likely to gain substantially from the rising
demand for packaged food in the region’s emerging economies.
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The
leading application segment of the global tin market is soldering, as
tin is a crucial element in soldering devices. The rising consumer
electronics industry has thus become a key driver for the global tin
market, as soldering is an essential requirement for maintaining the
expected build quality in today’s highly competitive consumer
electronics industry. The rising pricing pressure in the global
smartphone market is likely to drive the demand from the global tin
market, as reliability of the mechanical equipment is now considered a
key factor by most consumers.
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